Indian Economy - General Knowledge Questions

1 .
Deficit financing means that the government borrows money from the
A)
RBI
B)
local bodies
C)
big businessmen
D)
IMF

Correct Answer :   RBI

2 .
Devaluation of currency will be more beneficial if
A)
prices of domestic goods remain constant
B)
prices of exports remain constant
C)
prices of imports remains constant
D)
prices of exports rise proportionately

Correct Answer :   prices of exports remain constant

3 .
The condition of indirect taxes in the country's revenue is approximately
A)
70 percent
B)
75 percent
C)
80 percent
D)
86 percent

Correct Answer :   86 percent

4 .
Notes on which denomination has the portrait of Mahatma Gandhi printed on them?
A)
1000 rupee
B)
500 rupee
C)
100 rupee
D)
All of the above

Correct Answer :   All of the above

5 .
Which of the following is not viewed as a national debt?
A)
Provident Fund
B)
Life Insurance Policies
C)
Long-term Government Bonds
D)
National Saving Certificate

Correct Answer :   National Saving Certificate

6 .
The current price index (base 1960) is nearly 330. This means that
A)
all items cost 3-3 times more than what they did in 1960
B)
the prices of certain selected items have gone up to 3-3 times
C)
weighted means of prices of certain item has increased 3-3 times
D)
gold price has gone up 3-3 times

Correct Answer :   weighted means of prices of certain item has increased 3-3 times

7 .
Non Tax revenues can be increased by improving the working of the
A)
State Road Transport Corporations
B)
commercial irrigation projects
C)
electricity boards
D)
All of the above

Correct Answer :   commercial irrigation projects

8 .
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

9 .
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 :  

10 .
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 :  

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