Latest Indian Economy General Knowledge(GK) Questions and answers

1 .

Which of the following is the first Indian private company to sign an accord with Government of Myanmar for oil exploration in two offshore blocks in that country?

A)

Reliance Energy

B)

Essar Oil

C)

GAIL

D)

ONGC

Correct Answer : Essar Oil

2 .

Fiscal deficit in the Union Budget means

A)

the difference between current expenditure and current revenue

B)

net increase in Union Governments borrowings from the Reserve Bank of India

C)

the sum of budgetary deficit and net increase in internal and external borrowings

D)

the sum of monetized deficit and budgetary deficit

Correct Answer :

3 .

In pursuance with the recommendations of Narsimhan Committee, the RBI has framed new guidelines

A)

to govern entry of new private sector banks to make the banking sector more competitive

B)

to reduce the freedom given to banks to rationalize their existing branch network

C)

to setup more foreign exchange banks

D)

to lend more easily for industrial development

Correct Answer :

4 .

If the fiscal deficit of the Union Government is Rs. 75,000 crores relending to State is Rs. 25,000 crores, interest payments are Rs. 25,000 crores, what is the amount of the primary deficit?

A)

Rs. 50,000 crores

B)

Rs. 25,000 crores

C)

Rs. 1,00,000 crores

D)

Rs. 1,25,000 crores

Correct Answer : Rs. 50,000 crores

5 .

Excise duty is a tax levied on the

A)

production of goods

B)

import of goods

C)

export of goods

D)

sale of goods

Correct Answer : production of goods

6 .

National Agricultural Insurance Scheme replacing Comprehensive Crop Insurance Scheme was introduced in the year

A)

1997

B)

1998

C)

1999

D)

2000

Correct Answer : 1999

7 .

Debenture holders of a company are its

A)

shareholders

B)

creditors

C)

debtors

D)

directors

Correct Answer : creditors

8 .

Reserve Bank of India was nationalized in the year

A)

1935

B)

1945

C)

1949

D)

1969

Correct Answer : 1949

9 .

Our financial system has provided for the transfer of resources from the centre to the states; the important means of resource transfer are

A)

tax sharing

B)

grant-in-aids

C)

loans

D)

All the above

Correct Answer : All the above

10 .

The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of

A)

15 to 20 percent

B)

20 to 25 percent

C)

25 to 30 percent

D)

30 to 35 percent

Correct Answer : 20 to 25 percent