Indian Economy MCQs


Which of the following Price Indices of India is considered for measuring ‘Headline Inflation’?

[A] GDP Deflator

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Consider the following Statements:

  1. Indicative Planning is a feature of ‘Mixed Economy’.
  2. Perspective Planning is used by socialist countries where each and every aspect of planning is controlled by the State.

Which of the above Statement(s) is/are correct?

[A] Only 1
[B] Only 2
[C] Both 1 and 2
[D] Neither 1 nor 2

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Arrange the following in the descending order of the largest agricultural imports of India:

2.Wood and Wood Products
3.Edible Vegtable Oils

[A] 1-2-3
[B] 1-3-2
[C] 2-1-3
[D] 3-2-1

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Which of the following agricultural commodity of India gives largest in terms of export value?

[A] Tea
[B] Basmati Rice
[C] spices
[D] cotton

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Public Distribution System(PDS) is operated under the responsibility of the:

1.Central Government
2.State Governments

[A] Only 1
[B] Only 2
[C] Both 1 and 2
[D] Neither 1 nor 2

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The central nodal agency for implementing the price support operations for commercial crops is:


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Which of the following are the provisions of SARFAESI Act which enables banks to reduce their non-performing assets (NPAs)

  1. Enforcement of Security Interest by secured creditor (Banks/ Financial Institutions).
  2. Transfer of non- performing assets to asset reconstruction company , which will then dispose of those assets and realise the proceeds.
  3. To provide a legal framework for securitization of assets.
  4. Assisting banks in making the credibility track record of customers under Credit Information Bureau of India (CIBIL).
[A] 1 and 2
[B] 1, 2 and 3
[C] 2 ,3 and 4
[D] 1, 2 ,3 and 4

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 Indian Currency Printing Institutions are located in which of the following places?
(1) Nasik
(2) Hoshangabad
(3) Hyderabad
(4) Aurangabad
(5) Devas

Select the correct option:

[A] 1 ,2 and 4
[B] 1, 2, 3 and 4
[C] 1, 2, 3 and 5
[D] All of the above

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Which of the following statements regarding the ‘Viability Gap Funding Scheme (VGF)’ is not true?

[A] Under VGF, the central government meets up to 20% of capital cost of a project being implemented in public private partnership (PPP) mode
[B] The scheme is administered by the ministry of finance.
[C] Sectors eligible for VGF are Infrastructure, health and education.
[D] VGF is a force multiplier, enabling government to leverage its resources more effectively.

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The government has powers under the Essential Commodities Act, 1955 (EC Act) to declare a commodity as an essential commodity to ensure its availability to people at fair price. The Commodities covered under the Act include :

2.Hank Yarn
4.Petroleum and Petroleum Products
5.Cotton and Jute seeds

[A] 1, 2 and 3
[B] 1, 3 and 4
[C] 3, 4 and 5
[D] 2, 3, 4 and 5

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