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Indian Economy General Knowledge Questions and Answers for SSC and Bank Exams

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Q :  

As per estimates of the Planning Commission of India the target growth rate of 12th Five-Year Plan is set to

(A) 7 to 8%

(B) 8.0% to 8.5%

(C) 9% to 9.5%

(D) 10 to 10.5%

Correct Answer : B
Explanation :

The Approach Paper has proposed a target of 8 per cent growth for the Twelfth Plan. Health, education and skill development, environment and natural resources, and infrastructure development were the focus areas of the Twelfth Plan.


Q :  

Inflation in India is measured on which of the following indexes / indicators?

(A) Gross Domestic Product (GDP)

(B) Wholesale Price Index (WPI)

(C) Cost of Living Index (CLI)

(D) Consumer Price Index (CPI)

Correct Answer : B

Q :  

In which year was the Golden Jubilee Urban Employment Scheme launched?

(A) 1995

(B) 1990

(C) 2000

(D) 1997

Correct Answer : D

Q :  

In which industry sector has India had more success?

(A) Computer Hardware

(B) Computer Software

(C) both

(D) None of these

Correct Answer : B

Q :  

Which multinational company bought 'Thums Up' brand of Parle Group?

(A) Nokia

(B) Reebok

(C) L. G.

(D) Coca-Cola

Correct Answer : D

Q :  

___________ unemployment happens when people are not able to find jobs during some months of the year.

(A) Disguised

(B) Educated

(C) Seasonal

(D) None of the above

Correct Answer : C

Q :  

The Micro, Small and Medium Enterprises Development Act was passed in the year ____.    

(A) 2002

(B) 2006

(C) 2004

(D) 2008

Correct Answer : B
Explanation :

Notification for enforcement of MSME Act, 2006, The Provisions of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006) shall come into force from 2nd October, 2006.


Q :  

Externality theory is the basic theory of the following branch of Economics–

(A) International Economics

(B) Environomics

(C) Fiscal Economics

(D) Macro Economics

Correct Answer : B

Q :  

‘Functional Finance’ is associated with–

(A) Abba ‘P’ Lerner

(B) Adolph Wogner

(C) Adam Smith

(D) Adams

Correct Answer : A

Q :  

Banks and other financial institutions in India are required to maintain a certain amount of liquid assets like cash, precious metals and other short term securities as a reserve all the time. In Banking World this is known as–

(A) PLR

(B) Fixed Asset

(C) SLR

(D) CRR

Correct Answer : D

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