Indian Economy MCQs
Indian Economy Multiple Choice Questions (MCQs) for SSC, State and all One Day Examinations of India. Objective Questions on Indian Economy for competitive examinations. These questions are part of GKToday’s 35000+ MCQs Bank Course in GKToday Android App
31. What is the FDI allowed in Education sector in India?
[A] 51%
[B] 49%
[C] 74%
[D] 100%
Show Answer
Correct Answer: D [100%]
Notes:
Education is one of the top priorities of the government. Indian allows 100% FDI in education sector.
32. What is the share of IT sector in the Indian service export?
[A] 50%
[B] 60%
[C] 45%
[D] 30%
Show Answer
Correct Answer: C [45%]
Notes:
The share of IT sector in the Indian service export is 45%. The service sector contributes about 8% to Indian GDP.
33. Which of the following describes Iterant Retailers?
[A] They have a fixed place of business
[B] They move from place to place
[C] They are a type of wholesellers
[D] None of the above
Show Answer
Correct Answer: B [They move from place to place]
Notes:
Iterant Retailers are retailers who do not have a fixed decided place of business.They move their shops around, sometimes even on a daily basis. Their sale is to the final consumers of the goods, so they are retailers, even if they do not have a standard place of business.
34. What is the requirement of a corporate to issue a commercial paper?
[A] It should have worth of 10 crores
[B] It should have a credit rating
[C] It doesnt need registration in India
[D] None of the above
Show Answer
Correct Answer: B [It should have a credit rating]
Notes:
The commercial papers are unsecured promissory notes issued by top rated corporates, primary dealers and AIFI for a period between 7 days to 1 year. The minimum amount is 5 lakh. The New worth of companies should be 10 crores. It should have a credit rating.
35. When did RBI introduce MCLR?
[A] 2016
[B] 2015
[C] 2014
[D] 2017
Show Answer
Correct Answer: A [2016]
Notes:
RBI introduced MCLR in 2016. It is to improve the monetary transmission from RBI to the customer. This is used to set the interest rates by the banks.
36. Indian Institute of Technology, Kharagpur was established in which year?
[A] 1952
[B] 1951
[C] 1953
[D] 1954
Show Answer
Correct Answer: B [1951]
Notes:
Indian Institute of Technology Kharagpur is the first IIT to be established in India in 1951. It is one of the oldest technical institutes in West Bengal. Bidhan Chandra Roy insitsted Nehru Cabinet to establish the first IIT in West Bengal because of heavy population concentration in the state.
37. The ratio that banks have to maintain between their cash in hand and total assets which is known as
[A] Statutory Bank Ratio(SBR)
[B] Statutory Liquidity Ratio(SLR)
[C] Cash Reserve Ratio(CRR)
[D] Central Liquidity Ratio(CLR)
Show Answer
Correct Answer: B [Statutory Liquidity Ratio(SLR)]
Notes:
Statutory Liquidity Ratio or SLR is a minimum percentage of deposits that a commercial bank has to maintain in the form of liquid cash, gold or other securities. It is basically the reserve requirement that banks are expected to keep before offering credit to customers.
38. Which of the following refers to urban infrastructure?
[A] Infrastructure owned by Municipalities
[B] National Highways in Urban Areas
[C] Private Schools
[D] Urban Private Housing
Show Answer
Correct Answer: A [Infrastructure owned by Municipalities]
Notes:
Urban infrastructure refers to the infrastructure that is owned by the Municipalities. They include parks, public pools, and libraries.
39. Which city is the headquarters of two railway zones in India?
[A] Mysore
[B] Mumbai
[C] Jaipur
[D] Kochi
Show Answer
Correct Answer: B [Mumbai]
Notes:
Mumbai is the headquarters of two railway zones in India. They are Central Railways and Western Railways.
40. In which year Bureau of Civil aviation was established?
[A] 1988
[B] 1987
[C] 1986
[D] 1984
Show Answer
Correct Answer: B [1987]
Notes:
The Bureau of Civil Aviation Security was established in 1987 following the tragic crash of Air India Flight 182.
