Economics GK Quiz for Competitive Exams

In India, interest payments on debt are the largest single item in terms of current government expenditure.

Dry red chilli spice as an export item of India. Highest status in value.

The Indian 1 rupee note (₹1) is made up of 100 paise because ₹1 = 100 paise. Currently, it is the smallest Indian bank note in circulation and the only bank note issued by the Government of India, as all other bank notes in circulation are issued by the Reserve Bank of India.

At present there are a total of 12 nationalized banks in India.

Financial inclusion is the delivery of financial services at affordable costs to vast sections of the deprived and low income groups. This is not a solution to control inflation. In economics, fiscal policy is the use of government revenue collection and expenditure to influence a country's economy.

In the Twelfth Plan, a target of 8 percent growth has been set for a period of five years i.e. from 2012-13 to 2016-17. With a growth rate of only 5 per cent in the first year and possibly 6.5 per cent in the second year, the growth rate will have to accelerate significantly in subsequent years to achieve an average of 8 per cent over the entire plan period.

The fifth five year plan was for only four years.

The interest charged on savings account deposits generally ranges from 2.70% to 7.75% per annum.

For the first time in India, in 1960-61, a program called Intensive Agriculture District Program was run in 7 selected districts of the country. Pali of Rajasthan was also involved in this. The objective of this program was to provide loans, seeds, fertilizers, tools etc. to the farmers and to create a framework for intensive farming in other areas through central efforts.

It was established as an executive body on 12 April 1988 and given statutory powers on 30 January 1992 through the SEBI Act, 1992.