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. Duty Entitlement Pass Book (DEPS) is an scheme of Indian Government provided to _?
[A] Exporters
[B] Importers
[C] Wholesalers
[D] Retailers

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2. Which of the following industries is the not covered in the Index of Eight Core Industries?
[A] Electricity
[B] Crude Oil
[C] Natural Gas
[D] Pharmaceutical

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3. From July 1, 2017, the nationwide GST (Goods & Services Tax) has been rolled out in India, making the country a single market. What is the current size of Indian economy?
[A] USD 1 Trillion
[B] USD 2 Trillion
[C] USD 3 Trillion
[D] USD 4 Trillion

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4. The Government of India is planning to allow 200,000 tones of duty-free sugar imports. Which of the following is a correct statement about Sugar production and consumption of sugar in India?
[A] India is world’s largest sugar producer
[B] India is world’s largest sugar consumer
[C] India’s largest sugar producing state is Uttar Pradesh
[D] Sugar farming in India is concentrated in Deccan peninsula only.

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5. In which among the following years, Essentials Commodities act enacted?
[A] 1955
[B] 1958
[C] 1961
[D] 1975

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6. Planning Commission of India was established by which among the following means?
[A] Act of Parliament
[B] Presidential Order
[C] Presidential Ordinance
[D] Cabinet Resolution

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7. “Interest rate risk” can be placed in which among the following categories?
[A] Credit risk
[B] Market risk
[C] Operating Risk
[D] All of above

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8. Which among the following is a most suitable example of double counting in national income ?
[A] Wages of bus and train drivers
[B] Cotton output and cotton cloth output
[C] Electricity output and water output
[D] Tax receipts and earnings of inland revenue officials

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9. What has been the annual growth rate of Indian Population between 2001 and 2011?
[A] 1.26%
[B] 1.39%
[C] 1.64%
[D] 1.89%

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10. What was the period of India’s First Five Year Plan? 
[A] 1951-56
[B] 1961-66
[C] 1969-1974
[D] 1979-1984

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