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Indian Economy Bit Bank 2 PDF
Indian Economy Bit Bank 2 PDF
Indian Economy Bit Bank 2 PDF
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1. On the basis of census 2001, which Indian state has the highest population after Uttar
Pradesh ?
(A) Bihar
(B) West Bengal
(C) Maharashtra
(D) Tamil Nadu
Ans : (C)
2. Which among the following is the first commercial bank of limited liability managed by
Indians ?
(A) Punjab National Bank
(B) Oudh Commercial Bank
(C) Imperial Bank of India
(D) Bank of Baroda
Ans : (B)
Ans : (C)
Ans : (C)
5. The Small Industries Development Bank of India (SIDBI) provides refinance facilities
under ARS.
What is the full form of ARS ?
(A) Automatic Refinance Scheme
(B) Allocation and Refinance Solutions
(C) Automatic Refinance Solution
(D) Allocation and Refinance Scheme
Ans : (A)
6. Which one of the following was the chairman of the committee on pricing and taxation of
petroleum products ?
(A) Raja J. Chelliah
(B) C. Rangarajan
(C) Y. V. Reddy
(D) Abid Hussain
Ans : (B)
7. What was the limit of ARS fixed initially by the Small Industries Bank of India (SIDBI) ?
(A) Rs. 10 lakh
(B) Rs. 20 lakh
(C) Rs. 25 lakh
(D) Rs. 35 lakh
Ans : (A)
8. The Small Industries Development Bank of India (SIDBI) has been operating under SWS.
What is the full form of SWS ?
(A) Small Welfare Scheme
(B) Single Window Scheme
(C) Small Window Service
(D) Single Window Service
Ans : (D)
9. When was the Small Industries Development Bank of India (SIDBI) set up ?
(A) 1988
(B) 1990
(C) 1992
(D) 1998
Ans : (B)
10. As on 31st March, 1991, paid up capital of Small Industries Development Bank of India
was
(A) Rs. 100 crore
(B) Rs. 150 crore
(C) Rs. 200 crore
(D) Rs. 450 crore
Ans : (D)
1. The Small Industries Development Bank of India was established as a wholly owned
subsidiary of
(A) ECGC
(B) RBI
(C) NABARD
(D) IDBI
Ans : (D)
2. One of the objectives of the 11th five year plan is to reduce the poverty ratio by how much
percentage points by the year 2012 ?
(A) 2%
(B) 25%
(C) 35%
(D) 10%
Ans : (D)
3. Which of the following is the target fixed by the 11th five year plan pertaining to increase
in the literacy by the year 2012 ? The level should be increased to
(A) 50%
(B) 60%
(C) 70%
(D) 85%
Ans : (D)
Ans : (C)
Ans : (A)
Ans : (B)
Ans : (B)
Ans : (B)
9. Which of the following is/are the component(s) of Gross Domestic Capital Formation
(GDCF) ?
(1) Gross Domestic Savings
(2) Net Capital Inflow
(3) Direct Foreign Investment
Codes :
(A) Only (1)
(B) Only (2) (C) Only (3)
(D) Both (1) and (2)
Ans : (D)
10. Small Scale Industry like handicraft and cottage industries account for nearly what per
cent of the countrys exports ?
(A) 15%
(B) 20%
(C) 30%
(D) 35%
Ans : (B)
1. Normally two types of factors are responsible for industrial sickness extrogenous and
endogenous. Which of the following is not and endogenous factor of industrial sickness ?
(A) Shortage of power
(B) Mismanagement
(C) Diversion of funds
(D) Excessive overheads
Ans : (A)
Ans : (D)
4. Which of the following is the ceiling enforced by the European commission on the budget
deficit in terms of the percentage of the GDP, on its member countries ?
(A) 1%
(B) 2%
(C) 3%
(D) 5%
(E) None of these
Ans : (C)
5. VAT is
(A) Value Added Tax
(B) Value Added Temple
(C) Value Assets Total
(D) None of these
Ans : (A)
6. Euro is a
(A) Currency
(B) City
(C) Group
(D) River
Ans : (A)
Ans : (D)
8. Ethanol mixed petrol is being sold in various states w.e.f. January 1, 2003. The percentage
of ethanol in
petrol is
(A) 10%
(B) 7%
(C) 6%
(D) 5%
Ans : (D)
Ans : (D)
10. As per the reports published in the Newspapers the National Housing Bank (NHB) is
planing to launch a reverse mortgage scheme specially to help which of the following
sections of society ?
(A) People in rural India
(B) Senior citizens
(C) People living in Govt. accommodations
(D) Women who are sole bread winners
Ans : (B)
1. Which one of the following is the correct sequence in the decreasing order of contribution
of different sectors to the Gross Domestic Product of India ?
(A) ServicesIndustryAgriculture
(B) ServicesAgricultureIndustry
(C) IndustryServicesAgriculture
(D) IndustryAgricultureServices
Ans : (A)
Ans : (A)
3. Which of the following agencies recently laid down guidelines for foreign companies who
wish to raise money from the Indian capital markets ?
(A) RBI
(B) IRDA
(C) Registrar of Companies
(D) SEBI
Ans : (D)
Ans : (C)
5. How many models of Nano car are being made available initially ?
(A) 04
(B) 03
(C) 02
(D) 01
Ans : (B)
Ans : (D)
7. In absolute terms basis of GDP, Indian economy attained which rank in the world as per
world Development Report 2009 ?
(A) 10th
(B) 5th
(C) 12th
(D) 4th
Ans : (C)
Ans : (B)
9. Who among the following served as the chief economist of the International Monetary
Fund ?
(A) Ashok Lahiri
(B) Sumantra Ghoshal
(C) Saumitra Chaudhri
(D) Raghuram Rajan
Ans : (D)
Ans : (A)
1. As per the status on March 4, 2009, which of the following rate stands lowest ?
(A) Bank Rate
(B) CRR
(C) Repo Rate
(D) Reverse Repo Rate
Ans : (E)
Ans : (C)
Ans : (A)
4. Participatory Notes (PNs) are associated with which one of the following ?
(A) Consolidated fund of India
(B) Foreign institutional Investors
(C) United Nations Development Programme
(D) Kyoto protocol
Ans : (B)
5. Which of the following countries has the largest stock of foreign exchange reserves in the
world ?
(A) USA
(B) China
(C) Japan
(D) India
Ans : (B)
6. Who amongst the following is the first chairman of the newly constituted national
statistical commission?
(A) Prof. Suresh D. Tendulkar
(B) Dr. Ashok Lahiri
(C) Dr. Rakesh Mohan
(D) Prof. S. K. Ghosh
Ans : (A)
7. Which of the following taxes is exclusively and totally assigned to the state government by
the constitution ?
(A) Estate duty
(B) Sales tax
(C) Taxes on Railway fares and frights
(D) Corporation tax
Ans : (B)
8. In Union Budget 2010-11 which of the following deficit has been estimated at 4% of the
GDP ?
(A) Fiscal Deficit
(B) Primary Deficit
(C) Revenue Deficit
(D) None of the above
Ans : (C)
Ans : (C)
Ans : (A)
1. Which one of the following is not an objective of fiscal policy of Indian government ?
(A) Full employment
(B) Price stability
(C) Regulation of inter-state trade
(D) Equitable distribution of wealth and income
Ans :(C)
2. Hindu rate of growth refers to the rate of growth of
(A) GDP
(B) Population
(C) Foodgrains
(D) Per capita income
Ans :(A)
Ans :(C)
Ans :(B)
Ans :(D)
6. Which one of the following committees recommended the abolition of reservation of items
for the small scale sector in industry ?
(A) Abid Hussain Committee
(B) Narasimhan Committee
(C) Nayak Committee
(D) Rakesh Mohan Committee
Ans :(A)
7. In the last one decade which one among the following sectors has attracted the highest
foreign direct investment inflows into India ?
(A) Chemicals other than fertilisers
(B) Services sector
(C) Food processing
(D) Telecommunication
Ans :(D)
Ans :(B)
9. Which of the following experienced the fastest expansion during the plan period in India ?
(A) Agriculture
(B) Industry
(C) Services
(D) None of these
Ans :(C)
10. Which among the following indirect tax collection shows the maximum fall during April-
Nov. 2009 over the same period of 2008-09 ?
(A) Excise Duty
(B) Custom Duty
(C) Service Tax
(D) All the above show equal fall
Ans :(B)
Ans : (A)
Ans : (C)
3. Select the one which is not the responsibility of Gram Sabha under the Rural Employment
Guarantee Act, 2005 ?
(A) To recommend projects to the Gram Panchayat and prepare list of possible works
(B) To receive applications for work and issue a dated receipt
(C) To monitor the execution of works within the Gram Panchayat
(D) To conduct regular social audits of all the projects taken up with in the Gram Panchayat
Ans : (B)
Ans : (B)
5. In the law of demand, the statement other things remain constant means
(A) Income of consumer should not change
(B) Prices of other goods should not change
(C) Taste of consumer should not change
(D) All of the above
Ans : (D)
Ans : (A)
Ans : (A)
8. Given the money wages, if the price level in an economy increases, then the real wages
will
(A) Increase
(B) Decrease
(C) Remain constant
(D) Become flexible
Ans : (B)
Ans : (A)
Ans : (C)
Ans : (A)
Ans : (B)
Ans : (D)
4. The common currency which has been introduced among members of European Economic
Community
(EEC) is known as
(A) Euro pound
(B) Euro
(C) Euro Dollar
(D) None of these
Ans : (B)
Ans : (C)
6. Who amongst the following was the head of the 13th Finance Commission which
submitted its report to the President of India on 30th December, 2009 ?
(A) Vijay Kelkar
(B) Dr. Rakesh Mohan
(C) Mr. Kumar Mangalam Birla
(D) Mr. Rahul Bajaj
Ans : (A)
7. The government of India has acquired around 60% share holding in which of the following
banks from the Reserve Bank of India ?
(A) Punjab National Bank
(B) Bank of India
(C) State Bank of India
(D) Indian Bank
Ans : (C)
8. Which of the following organization / agencies recently issued guidelines for fair practices
code for non-banking finance companies ?
(A) SEBI
(B) NABARD
(C) Central Board of Direct Taxes
(D) Reserve Bank of India
Ans : (D)
Ans : (D)
Ans : (B)
1. The name of noted economist Prof. Suresh Tendulkar was in news as he has
(A) Taken over as the chairman of the National Statistical Commission
(B) Taken over as the Chief Economic Advisor to the Prime Minister of India
(C) Been nominated for the Nobel Prize in Economics for 2007
(D) Taken over as the Deputy Chairman of the Planning Commission of India
Ans : (A)
2. How much amount, the Govt. of India is planning to provide as a one time financial help to
revitalize the co-operative credit system in India ?
(A) Rs. 8,000 crore
(B) Rs. 10,000 crore
(C) Rs. 12,000 crore
(D) Rs. 14,000 crore
Ans : (D)
3. As per the new guidelines issued by the SEBI, mutual funds are now allowed to invest in
which of the following sectors ?
(A) Service sector
(B) Real estate
(C) Manufacturing sector
(D) IT sector
Ans : (B)
Ans : (D)
Ans : (C)
Ans : (A)
7. Which authority decides about the states share in central taxes ?
(A) Finance commission
(B) Planning commission
(C) Election commission
(D) Finance ministry
Ans : (A)
Ans : (B)
9. The National Bank for Agriculture and Rural Development (NABARD) was established
in
(A) 1981
(B) 1982
(C) 1983
(D) 1984
Ans : (B)
10. Which of the following is included in the Employees State Insurance Act, 1948 ?
(A) Unemployment Insurance
(B) Medical Benefit
(C) Minimum Wages
(D) None of these
Ans : (B)
1. The name of noted economist Prof. Suresh Tendulkar was in news as he has
(A) Taken over as the chairman of the National Statistical Commission
(B) Taken over as the Chief Economic Advisor to the Prime Minister of India
(C) Been nominated for the Nobel Prize in Economics for 2007
(D) Taken over as the Deputy Chairman of the Planning Commission of India
Ans : (A)
2. How much amount, the Govt. of India is planning to provide as a one time financial help to
revitalize the co-operative credit system in India ?
(A) Rs. 8,000 crore
(B) Rs. 10,000 crore
(C) Rs. 12,000 crore
(D) Rs. 14,000 crore
Ans : (D)
3. As per the new guidelines issued by the SEBI, mutual funds are now allowed to invest in
which of the following sectors ?
(A) Service sector
(B) Real estate
(C) Manufacturing sector
(D) IT sector
Ans : (B)
Ans : (D)
Ans : (C)
Ans : (A)
Ans : (A)
Ans : (B)
9. The National Bank for Agriculture and Rural Development (NABARD) was established
in
(A) 1981
(B) 1982
(C) 1983
(D) 1984
Ans : (B)
10. Which of the following is included in the Employees State Insurance Act, 1948 ?
(A) Unemployment Insurance
(B) Medical Benefit
(C) Minimum Wages
(D) None of these
Ans : (B)
Ans :(C)
2. The present base year for calculating wholesale price index number is
(A) 1993-94
(B) 1991-92
(C) 1961-62
(D) 1950-51
Ans :(A)
Ans :(A)
4. Who among the following was not the Governor of Reserve Bank of India ?
(A) Manmohan Singh
(B) Bimal Jalan
(C) C. Rangarajan
(D) Raja J. Chelliah
Ans :(D)
5. The first export processing zone of the private sector was established at
(A) Surat
(B) Noida
(C) Chennai
(D) Mangalore
Ans :(A)
6. Which of the following method is not used by N.S.S.O. for the measurement of
unemployment in India ?
(A) Usual Principal Status
(B) Current Monthly Status
(C) Current Weekly Status
(D) Current Daily Status
Ans :(B)
7. In Human Development Report 2007, which rank among 177 nations has been assigned to
India with respect to human development index ?
(A) 125th
(B) 126th
(C) 127th
(D) 128th
Ans :(D)
8. While preseating the latest national income estimates, CSO has taken the base year as
(A) 2001-02
(B) 2002-03
(C) 2003-04
(D) 2004-05
Ans :(D)
9. Which one of the following is not related with income from corporate sector in India ?
(A) Fringe benefit tax
(B) Minimum alternate tax
(C) Capital gains tax
(D) Tax on company profit
Ans :(C)
10. A larger part of the fiscal deficit in the union budgets is filled by
(A) Tax revenue
(B) Domestic borrowing
(C) Foreign borrowing
(D) Printing paper currency
Ans :(B)
1. BSE Sensex is an index to measure ups and downs in the share market. The number of
companies
covered under the index are
(A) 30
(B) 50
(C) 100
(D) 150
Ans :(A)
2. Prarambhik Shiksha Kosh (PSK) was constituted in 2005 to receive the proceeds of the
(A) Donation from public and NGOs
(B) Revenues generated by Gram Sabhas for the development of primary education
(C) Education cess imposed by the centre
(D) Contributions from the World Bank for the development of primary education
Ans :(C)
Ans :(D)
4. On the basis of size and composition of external debt. World Bank has classified India
as
(A) A less indebted country
(B) A moderately indebted country
(C) A heavily indebted country
(D) A severely indebted country
Ans :(A)
Ans :(C)
7. In what capacity was P.C. Mahalanobis associated with the formulation of the economic
policy of independent India ?
(A) As an applied statistician
(B) As Deputy Chairman of the Planning Commission
(C) As a leading industrialist
(D) As a minister of the Union Cabinet
Ans :(A)
8. Acute shortage of capital, technological backwardness and lack of skilled manpower have
greatly obstructed the economic development of India. These are
(A) Political factors
(B) Economic factors
(C) Social factors
(D) None of these
Ans :(B)
9. A significant victory for the developing countries on the issue of TRIPS at the Doha meet
was
(A) Postponement of the issue of labour standards
(B) Special dispensation for least developed countries
(C) Power to grant exemption from patent regime in the interest of public health
(D) Discussion on implementation issues
Ans :(C)
10. Which of the following organizations/agencies recently decided to provide grades to the
merchant bankers so that they contract the market and ensure that only good issues arrive in
the market ?
(A) RBI
(B) SEBI
(C) AMFI
(D) Registrar of Companies
Ans :(A)
1. According to the S.K. Sharma panel, which of the following documents should be
revalidated after a certain period so that it cannot be misused by the people
(A) PAN Card
(B) Credit Card
(C) Driving Licence
(D) ID Cards issued by the election commission
(E) None of these
Ans :(A)
2. How many items are reserved for small scale industries in India as on October 2008 ?
(A) 60
(B) 68
(C) 100
(D) 21
(E) None of these
Ans :(D)
Ans :(B)
Ans :(C)
5. The government of India decides the minimum support price of which of the following
commodities ?
(A) Sugar cane
(B) Green vegetable
(C) Medicinal plants
(D) Milk
(E) All of these
Ans :(A)
Ans :(C)
7. Which of the following products/commodities is under the partial control of the union
government and is purchased as compulsory levy at a fixed price from the factories/
producers ?
(A) Milk
(B) Sugar
(C) Cloth
(D) Pharma products
(E) None of these
Ans :(B)
8. As per the estimates given by the Associated Chambers of Commerce and Industry of India
(ASSOCHAM), Indias Trade with SAARC countries is at which of the following levels at
present ?
(A) Rs. 15,000 crore
(B) Rs. 20,000 crore
(C) Rs. 25,000 crore
(D) Rs. 30,000 crore
(E) Rs. 35,000 crore
Ans :(C)
Ans :(C)
10. World Economic Forum in its report places India among 134 economies at
(A) 114th rank
(B) 116th rank
(C) 126th rank
(D) 128th rank
Ans :(A)
1. The economic growth of how much per cent has the IMF, IBRD and ADB predicted in
current fiscal year 2009-10 ?
(A) 5 to 6 %
(B) Between 4 to 5%
(C) 6 to 7%
(D) 7 to 8%
Ans :(B)
Ans :(D)
4. In a system of free enterprise, consumers decide what goods and services shall be produced
and in what quantities. It is known as
(A) Consumer protection
(B) Consumers decision
(C) Consumer preference
(D) Consumers sovereignty
Ans :(D)
Ans :(A)
Ans :(A)
Ans :(C)
Ans :(D)
10. In which one of the following states is the falta Special Economic Zone located ?
(A) Kerala
(B) Gujarat
(C) Orissa
(D) West Bengal
Ans :(D)