Indian Economics GK Quiz with Answers

Gross primary deficit refers to the difference between the current year's fiscal deficit and interest payments made on the previous year's borrowings. In other words, it represents the fiscal deficit of the government excluding interest payments.

The correct answer is Qualitative – Moral Suasion. Monetary policy refers to the policy of the central bank with regard to the use of monetary instruments under its control to achieve the goals specified in the Act. The Reserve Bank of India (RBI) is vested with the responsibility of conducting monetary policy.

There is freedom of entry and exit. Sellers have perfect knowledge about the market conditions. They are price taker. Price Elasticity of Demand of a firm is Infinite which means demand curve for Perfect competition is a Perfectly Elastic.

Fiscal Deficit is the difference between the total income of the government (total taxes and non-debt capital receipts) and its total expenditure. It occurs when the government's expenditure exceeds its income.

Camera, in photography, a device for recording an image of an object on a light-sensitive surface; It is essentially a light-tight box with a hole to admit light that is focused onto a sensitive film or plate. 35 mm single-lens reflex (SLR) camera.

Singapore maintains its spot as the world's most expensive city, tying with Zurich, Switzerland. This is the ninth time in 11 years that Singapore has topped the list.

Child insurance plan is an investment cum insurance plan from life insurance companies, which offers financial safety to your child's dreams and goals. You can use a child insurance plan to invest in the big life goals of your child like higher education and marriage.

Detailed Solution. The correct answer is RBL Bank. RBI has authorized RBL Bank to collect indirect taxes on behalf of the Central Board of Indirect Taxes and Customs (CBIC).

Regular census in India are held every 10 years.

The Planning Commission was replaced with the NITI Aayog. The NITI Aayog acts as a platform that brings together states to discuss the entire nation's progress. It comprises all Chief Ministers, Lt. Governors of the Union Territories, and the Prime Minister, who is also its chairman.