Latest Indian Economy General Knowledge(GK) Questions and answers

1 .

One of the reasons for India's occupational structure remaining more or less the same over the years has been that

A)

investment pattern has been directed towards capital intensive industries

B)

productivity in agriculture has been high enough to induce people to stay with agriculture

C)

ceiling on land holdings have enabled more people to own land and hence their preference to stay with agriculture

D)

people are largely unaware of the significance of transition from agriculture to industry for economic development

Correct Answer : investment pattern has been directed towards capital intensive industries

2 .

In India, which one among the following formulates the fiscal policy?

A)

Planning Commission

B)

Ministry of Finance

C)

Finance Commission

D)

The Reserve Bank of India

Correct Answer : Ministry of Finance

3 .

On which one of the followings is the benefits received principle of taxation to achieve optimality bases?

A)

Marginal benefit received

B)

Total benefit received

C)

Average benefit received

D)

Ability to pay for the benefit

Correct Answer : Ability to pay for the benefit

4 .

Short-term finance is usually for a period ranging up to

A)

5 months

B)

12 months

C)

18 months

D)

24 months

Correct Answer : 12 months

5 .

The association of the rupee with pound sterling as the intervention currency was broken in

A)

1990

B)

1991

C)

1992

D)

1993

Correct Answer : 1992

6 .

Redistribution polices geared to reduce economic inequalities include

A)

progressive tax policies

B)

land reforms

C)

rural development policies

D)

All the above

Correct Answer : All the above

7 .

India changed over to the decimal system of coinage in

A)

April 1995

B)

April 1957

C)

April 1958

D)

April 1959

Correct Answer : April 1957

8 .

If the RBI adopts an expansionist open market operations policy, this means that it will

A)

buy securities from non-government holders

B)

sell securities in the open market

C)

openly announce to the market that it intends to expand credit

D)

offer commercial banks more credit in the open market

Correct Answer : offer commercial banks more credit in the open market

9 .

If all the banks in an economy are nationalized and converted into a monopoly bank, the total deposits

A)

will decrease

B)

will increase

C)

will neither increase nor decrease

D)

None of the above

Correct Answer : will neither increase nor decrease

10 .

Since 1983, the RBI's responsibility with respect to regional rural banks was transferred to

A)

ARDC

B)

SBI

C)

NABARD

D)

PACs

Correct Answer : NABARD