Indian Economics GK Quiz for SSC Exams

RBI issues currency and exchanges it. You must be knowing that these notes have the signature of RBI Governor. Although 1 rupee note is the smallest in the entire Indian currency, it does not have the signature of RBI Governor. Actually, RBI does not issue one rupee note.2

The unit of SDR is XDR. These rights were created in 1969. There are only five currencies in the world which are linked to SDR and those currencies are Chinese Yuan, Japanese Yen, US Dollar, Euro and Pound Sterling.

The Sixth Five Year Plan marked the beginning of economic liberalisation. Price controls were abolished and ration shops were closed. This led to a rise in food prices and an increase in the cost of living.

Explanation: Per capita net national income in India is estimated at Rs 1,11,782 (at current prices) during the financial year 2017-18, which shows an increase of 8.3% over the previous year. The per capita income during the financial year 2016-17 was Rs 1,03,219.

Explanation: In India, three groups of commodities have major contribution in the calculation of inflation. In this, primary products contribute 20.1%, fuel and electricity (14.9%) and manufacturing products contribute 65%. Therefore, the biggest reason for high inflation in India is manufacturing products.

Explanation: The share of agriculture sector in the income of Indian economy is about 17.1% in the financial year 2017-18. The service sector remains the foundation of the Indian economy and contributes about 59% to India's income.

Explanation: As per the new definition of micro, small and medium enterprises; The definition of micro, small and medium enterprises in the manufacturing sector is as follows;

Explanation: The largest export item exported from India during April 2017 to November 2017 is engineering goods which accounts for 26% of India's total exports. Chemical and related products rank second and contribute about 14.5% of total Indian exports.

In economics, a production function describes the technical relationship between the quantity of physical inputs and the quantity of output of goods.

The correct answer is Disguised unemployment. Disguised unemployment is found in the agricultural sector of India.