Indian Economy Questions Practice Question and Answer

Q:

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

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    7 to 8%
    Correct
    Wrong
  • 2
    8.0% to 8.5%
    Correct
    Wrong
  • 3
    9% to 9.5%
    Correct
    Wrong
  • 4
    10 to 10.5%
    Correct
    Wrong
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Answer : 2. "8.0% to 8.5%"
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:

Which one of the following is not a clause of the World Trade Organisation?

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    Lowering trade barriers with negotiations
    Correct
    Wrong
  • 2
    Most favoured nation treatment
    Correct
    Wrong
  • 3
    Providing financial support to the countries having deficit balance of payments
    Correct
    Wrong
  • 4
    Discouraging unfair trade practices such as anti-dumping and export subsidies
    Correct
    Wrong
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Answer : 3. "Providing financial support to the countries having deficit balance of payments"
Explanation :

Providing financial support to the countries having deficit balance of payments.

Q:

The Views of eminent economist Robert Malthus on Population is–

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    Pessimistic
    Correct
    Wrong
  • 2
    Optimistic
    Correct
    Wrong
  • 3
    Both (a) and (b)
    Correct
    Wrong
  • 4
    None of the above
    Correct
    Wrong
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Answer : 1. "Pessimistic "
Explanation :

The Malthusian theory explained that the human population grows more rapidly than the food supply until famines, war or disease reduces the population. He believed that the human population has risen over the past three centuries.

Q:

The first bank to open its branch outside India in London in 1946

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    Bank of India
    Correct
    Wrong
  • 2
    Canara Bank
    Correct
    Wrong
  • 3
    Imperial Bank of India
    Correct
    Wrong
  • 4
    Central Bank of India
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 1. "Bank of India"
Explanation :

The first Indian bank to open a branch outside India was the Bank of India. It established its first overseas branch in London in 1946.

Q:

Who was the founder of Bank of Baroda?

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    Maharaja Sayajirao II
    Correct
    Wrong
  • 2
    Maharaja Bajirao-III
    Correct
    Wrong
  • 3
    P. karamchandra
    Correct
    Wrong
  • 4
    Maharaj Chhatrasal
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 2. "Maharaja Bajirao-III"
Explanation :

The Maharaja of Baroda, Maharaja Sayajirao Gaekwad III, founded Bank of Baroda on 20 July 1908 in the Princely State of Baroda, in Gujarat. This year, it's our 116th Foundation Day, and we've so many reasons to celebrate and cherish our journey so far.

Q:

Which of the following banks got the top spot among the PSU banks in the digital transactions as per the report published by the Department of Financial Services?

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    State Bank of India
    Correct
    Wrong
  • 2
    Bank of India
    Correct
    Wrong
  • 3
    Punjab National Bank
    Correct
    Wrong
  • 4
    Bank of Baroda
    Correct
    Wrong
  • 5
    IDBI Bank
    Correct
    Wrong
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Answer : 3. "Punjab National Bank"
Explanation :

State Bank of India (SBI) and its associate banks and other commercial banks such as Central Bank of India, Bank of India, Punjab National Bank and various regional rural banks are some examples of public sector commercial banks.


Q:

Who among the following is associated as a head with the Highlevel Task Force on Public Credit Registry (PCR) formed by the Reserve Bank of India?

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    S Venkitaraman
    Correct
    Wrong
  • 2
    G. Ambegaokar
    Correct
    Wrong
  • 3
    Yeshwant M. Deosthalee
    Correct
    Wrong
  • 4
    R S Gujral
    Correct
    Wrong
  • 5
    S R Rao
    Correct
    Wrong
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Answer : 3. "Yeshwant M. Deosthalee"
Explanation :

High Level Task Force Report Summary Public Credit Registry for India. The Reserve Bank of India (RBI) had constituted a High Level Task Force (Chair: Mr. Y. M. Deosthalee) to assess the need and scope of setting up a Public Credit Registry in India.

Q:

FEMA (Foreign Exchange Management Act) was finally implemented in the year_____.

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    1991
    Correct
    Wrong
  • 2
    1997
    Correct
    Wrong
  • 3
    2002
    Correct
    Wrong
  • 4
    2007
    Correct
    Wrong
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Answer : 3. "2002"
Explanation :

Foreign Exchange Management Act, 1999 (FEMA) came into force by an act of Parliament. It was enacted on 29 December 1999.

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