Indian Economy MCQs

Indian Economy Multiple Choice Questions (MCQs) for State and UPSC Civil Services Examinations. Objective Questions on Indian Economy for competitive examinations.

1. “A statement of estimated receipts and expenditures called annual Financial Statement (Budget) has to be placed before parliament for each financial year.”
The above provision has been enshrined in which among the following articles of Constitution of India?

[A] Article 110
[B] Article 111
[C] Article 112
[D] Article 113

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2. “Bad money (if not limited in quantity) drives good money out of circulation”. Which law in economics says this?

[A] Keynes’ law
[B] Wagner’s law
[C] Gresham’s law
[D] Grimm’s law

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3. Which among the following is a suitable term for the state of economy in which economic activity is slowing down but wages and prices continue to rise ?

[A] Inflation
[B] Deflation
[C] Skweflation
[D] Stagflation

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4. The main objectives of Minimum Support Prices is / are

  1. Check fall in price beyond a limit
  2. Protect interest of the consumers
  3. Make procurement from the wholesalers easy

Choose the correct option:

[A] Only 1
[B] Only 1 & 2
[C] Only 2 & 3
[D] 1, 2 & 3

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5. Which among the following committees recommended the merger of Regional Rural Banks with their respective Sponsor Banks?

[A] Narsimhamam Committee
[B] Khusro Committee
[C] C Rang rajan Committee
[D] Dutt Committee

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6. In which year UTI was split into UTI-I and UTI-II?

[A] 2000
[B] 2001
[C] 2002
[D] 2003

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7. At which of the following places steam engines were originally manufactured by India Railway ?

[A] Varanasi
[B] Perambur
[C] Chittranjan
[D] Patiala

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8. Which among the following has been adopted by the Tendulakar committee for measuring poverty?

[A] Welfare measures
[B] Cost of Living
[C] Inequality & growth
[D] mobility/vulnerability analyses

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9. In context of banking what is PCR?

[A] Profit Credit Ratio
[B] Provision Credit Ratio
[C] Provision coverage ratio
[D] Profit Coverage Ratio

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10. The unemployment of a person when he/ she is in midst of transiting between jobs, searching for new job comes under the which of the following category?

[A] Cyclical
[B] Voluntary
[C] Frictional
[D] Seasonal

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