General Knowledge - Indian Economy
Exam Duration: 45 Mins Total Questions : 30
Which one of the following is not the component of the services sector of Indian Economy?
- (a)
Insurance and Finance
- (b)
Community and Personal
- (c)
Construction
- (d)
Trade and Hotel
Match List I (Phases of National Highway Development Project (NHDP) with List II (Project-undertaken) and select the correct answer using the codes given below the lists
List I | List II |
NHDP Phase-I | Comprises six laning of existing 4 lane highways on Design Operate Model |
NHDP Phase-III | Envisages development of fully access controlled Express-ways under PPP Model |
NHDP Phase-V | Involves 4/6 laning of high-density corridor connecting state capitals, important tourist places, economically important areas etc |
NHDP Phase-VI | Development of Golden Quadrilateral (GQ) Model National Highways |
- (a)
A B C D 2 4 3 1 - (b)
A B C D 2 3 4 1 - (c)
A B C D 4 3 1 2 - (d)
A B C D 4 1 3 2
Consider the following statements about the LPG model of economic development process in India
1. Disinvestment of profit making Public Sector Enterprises.
2. Permitting private sectors to establish Industrial Units without taking a license.
3. Chronically sick industries were referred to BIFR for the formulation of revival or rehabilitation plan.
Where of the process/processes given above is/are taken after adoption of LPG model?
- (a)
1, 2 and 3
- (b)
1 and 3
- (c)
2 and 3
- (d)
Only 2
Which one of the following sectors of the Indian Economic got the highest growth in the term GDP contribution after the adoption of LPG model of Economic Development?
- (a)
Agriculture Sector
- (b)
Fishing and Forestry Sector
- (c)
Mining and Quarrying Sector
- (d)
Services Sector
Consider the following statements
1. During the period 1960-61 to 2010-11 the foodgrains production grew at a compounded annual growth rate of around 2%
2. Foodgrains production rose from around 50 million tonnes in the First Five year Plan to 300 million tonnes at the end of Eleventh Five Year Plan.
Which of the statements given above is/are correct?
- (a)
Only 1
- (b)
Only 2
- (c)
Both 1 and 2
- (d)
Neither 1 nor 2
Which one of the following is responsible for the management and dealing of marketing problems of the Tribal Areas?
- (a)
NAFED
- (b)
NCDC
- (c)
FCS
- (d)
TRIFED
Which one of the following is correctly matched?
- (a)
Revolution Sector Rainbow Industry - (b)
Revolution Sector Blue Fisheries Agriculture & Allied - (c)
Revolution Sector Yellow Services - (d)
Nove of these above
Which one of the following is correctly matched?
Irrigation Schemes | Culturable Command Area |
1.Major Irrigation | 10000 hectares and more |
2.Medium | 2000 to 5000 hectares |
3.Minor Irrigation |
Less than 2000 hectares |
Select the correct answer using the codes below
- (a)
1 and 2
- (b)
1 and 3
- (c)
2 and 3
- (d)
Only 2
With reference to the public sector undertaking in India. Consider the following statements
1. Minerals and Metals Trading Corporation of India Limited is the largest non-oil importer of the country.
2. Project and Equipment Corporation of India Limited is under the Ministry of Industry.
3. One of the objectives of Export Credit Guarantee Corporation of India Limited is to enforce quality control and compulsory pre-shipment inspection of various exportable commodities.
Which of the statements given above is/are correct?
- (a)
Only 1
- (b)
1 and 2
- (c)
2 and 3
- (d)
Only 3
Which one of the Following services area is related with the launching of scheme called "Opex-2012' by the Indian Government?
- (a)
Tourism
- (b)
communication
- (c)
Sports
- (d)
Finance and Insurance
Consider the following statements about Indian shipping industry
1.95% of the country's trade by volume is being transported by sea
2.China is around three times higher than India in the shipping tonnage(capacity).
Which of the statement given above is/are correct?
- (a)
Only 1
- (b)
Only 2
- (c)
Both 1 and 2
- (d)
Neither 1 nor 2
Which one of the following states has the highest share of the Services sector in the Gross State Domestic Product in India?
- (a)
Maharashtra
- (b)
Goa
- (c)
Haryana
- (d)
Tamil Nadu
With reference to India, consider the following statements about the Mid-day Meal Scheme
1. Provision of assistance for the cooking cost of all the States and Union Territories are same throughout the country.
2. Provision of assistance for financial assistance to all the states is 90% of the project cost.
- (a)
Only 1
- (b)
Only 2
- (c)
Both 1 and 2
- (d)
Neither 1nor 2
Which of the program has not been included in the Swarnjayanti Gram Swarozgar Yojana?
- (a)
IRDP
- (b)
DWCRA
- (c)
TRYSEM
- (d)
JNNURM
Consider the following statements
1. Gini coefficient is commonly used to measure the inequality of wealth.
2. The Gini coefficient with a value of 1 express total equality and a value of 0 express maximum inequality.
Which of the statements given above is/are correct?
- (a)
Only 1
- (b)
Only 2
- (c)
Both 1 and 2
- (d)
Neither 1 nor 2
Which one of the following is the nature of the Beveridge curve when there is a decrease in frictional unemployment that reduces the number of firms searching for employees and the number of unemployed searching for jobs?
- (a)
The curve will become parabolic shape
- (b)
The curve will become hyperbolic shape
- (c)
The curve will be shifted towards origin
- (d)
The curve will remain unchanged
IMF was established to meet which of the following objectives?
1. Promoting international monetary - co - operation.
2. Expanding international trade.
3. Lessening the disequilibrium in the balance of trade.
4. Avoiding competitive exchange depreciations.
Which of the statements given above is/are correct?
- (a)
1,2,3 and 4
- (b)
1,2,and 3
- (c)
2 and 3
- (d)
3 and 4
Consider the following statements regarding WTO agreements
1. Genetically Modified Organisms (GMOs) is covered under the Agreement on the Application of sanitary Measures (SPS).
2. Under the SPS agreement, the WTO sets constraints on member - states' policies relating to food safety as well as animal and plant health about imported pests and diseases.
Which of the statements given above is/are correct?
- (a)
Only 1
- (b)
Only 2
- (c)
Both 1 and 2
- (d)
Neither 1 nor 2
Consider the following barriers
1. Anti-dumping practice
2. Packing, labeling, and marking standards
3. Charges on imports
4. Rules of origin
5. Sanitary and phyto-sanitary conditions
Which of the barriers given above is/are come under the Non-Tariff Barriers (NTBs) of WTO?
- (a)
1, 2, 3 and 5
- (b)
1, 3, 4 and 5
- (c)
2, 3, 4 and 5
- (d)
All of these
Which one of the following items has gained the highest growth rate in the import composition of the Indian Economy in the last decade?
- (a)
Pearls, precious and semiprecious stones
- (b)
Gold and Sliver
- (c)
Oil-cake and other solid residues
- (d)
None of the above
Which of the following would include Foreign Direct Investment in India?
1. Subsidiaries of companies in India.
2. Majority foreign equity holding in Indian companies.
3. Companies exclusively financed by foreign companies.
4. Portfolio investments.
Select the correct answer using the codes given below
- (a)
1, 2, 3 and 4
- (b)
2 and 4
- (c)
1 and 3
- (d)
1, 2 and 4
Consider the following elements
1. New Broad Money (NM3)
2. All Deposits with the Post Office Savings Banks.
3. National Savings Certificates.
4. Term deposits with Term Lending Institutions and Refinancing Institutions (FIs).
5. Term Borrowing by FIs
6. Certificates of Deposit issued by FIs.
7. Public Deposits of Non-banking Financial Companies.
Which of the elements given above are the major components of Liquidity Aggregate-3 (L3) of the Indian Monetary Policy?
- (a)
1, 3, 4 and 6
- (b)
1, 2, 4, 5, 6 and 7
- (c)
1, 2, 3, 4, 5 and 7
- (d)
All of the above
To obtain full benefits of demographic dividend, what should India do?
- (a)
Promoting skill development
- (b)
Introducing more social security schemes
- (c)
Reducing infant mortality rate
- (d)
Privatisation of higher education
Consider the following functions
1. Refinance loans and advances extended by the Primary Lending Institutions to small scale Industries (SSIs).
2. Provides services like leasing, factory to SSIs.
3. Discounts and rediscounts the bills arising from the sale of machinery to SSIs.
Which of the functions given above is/are correct with respect to SIDBI?
- (a)
1 and 2
- (b)
Only 2
- (c)
2 and 3
- (d)
All of these
Consider the following statements regarding the Unit Trust of India(UTI).
1.RBI is one of the major subscribers of the initial capital of the UTI.
3.UTIwas collapsed in 2002-02
Which of the statements given above is/are correct?
- (a)
Only 1
- (b)
Only 2
- (c)
Both 1 and 2
- (d)
Neither 1 nor 2
Which of the following forms the Capital Expenditure of the Central Government?
- (a)
Loans and advances made to states
- (b)
Grants given to states
- (c)
Interest payments
- (d)
None of the above
India ranked 5th in the world in terms of number of High Networth Individuals (HNIs) according to the Knight Frank Wealth Report 2013. High networth individuals are the ones with the net assets if
- (a)
Rs 100 to 150 crore
- (b)
Rs 150 to 160 crore
- (c)
Rs 160 to 200 crore
- (d)
None of the above
A rapid increase in the rate of inflation is sometimes attributed to the 'Base Effect'. What is the 'Base Effect'?
- (a)
It is the impact of drastic deficiency in supply due to failure of crops
- (b)
It is the impact of the surge in demand due to rapid economic growth
- (c)
It is the impact of price levels of the previous year on the calculation of inflation rate
- (d)
None of the above
Consider the following Services/Goods
1.Police
2.National defense
3.Tax subsidies
Which of the services/goods given above is/are included in the 'Public Goods' of an ecomomy?
- (a)
1 and 2
- (b)
1 and 3
- (c)
2 and 3
- (d)
Only 2
Match the following
(A) interest paid by the trader | 1.National Wealth |
(B) purchasing power | 2.Land |
(C) Minerals | 3.Gross interest |
(D) Rivers and dams | 4.Real Value |
- (a)
A B C B 3 4 2 1 - (b)
A B C B 1 2 3 4 - (c)
A B C B 2 4 3 1 - (d)
A B C B 3 1 2 4