Indian Economy Practice Question and Answer
8 Q: Which of the following ministry has Launched Mobile Application “ Jan Dhan Darshak” as A Part of Financial Inclusion?
761 062e3b4ff723ac56e88648649
62e3b4ff723ac56e88648649- 1Finance Ministrytrue
- 2Ministry of Consumer Affairs, Food and Public Distributionfalse
- 3Ministry of Human Resource Developmentfalse
- 4Ministry of Parliamentary Affairsfalse
- 5Ministry of Commerce and Industryfalse
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Answer : 1. "Finance Ministry"
Explanation :
Department of Financial Services (DFS), Ministry of Finance and National Informatics Centre (NIC) has jointly developed a mobile app called Jan Dhan Darshak as a part of financial inclusion (FI) initiative .
Q: The Micro, Small and Medium Enterprises Development Act was passed in the year ____.
903 15fe2e3034c864b4aa0e43f83
5fe2e3034c864b4aa0e43f83- 12002false
- 22006true
- 32004false
- 42008false
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Answer : 2. "2006"
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: Which of the following committee is not associated to the estimation of poverty in India?
799 06329cb285c208a6bf7ddfeca
6329cb285c208a6bf7ddfeca- 1V.K. Alagh Committeefalse
- 2Suresh Tendulkar Committeefalse
- 3Rangarajan Committeefalse
- 4Vijay Kelkar Committeetrue
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Answer : 4. "Vijay Kelkar Committee"
Explanation :
It is related to the assessment of poverty in India.
(A) V.K. Alagh Committee
(B) Suresh Tendulkar Committee
(C) Rangarajan Committee
Q: Central bank of our country is
742 06266ce1de1e2a840c334873f
6266ce1de1e2a840c334873f- 1State Bank of Indiafalse
- 2Reserve Bank of Indiatrue
- 3Central Bank of Indiafalse
- 4Bank of Barodafalse
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Answer : 2. "Reserve Bank of India "
Explanation :
1. The central bank of our country is the Reserve Bank of India.
2. It is the supreme bank of India and determines the monetary policy of the country.
3. RBI was established on April 1, 1935 under the Reserve Bank of India Act, 1934.
Q: With which of the following sectors is the agency short-named as CIBIL associated
470 06576efbefd78a97b0a43f28a
6576efbefd78a97b0a43f28a- 1Insurance sectorfalse
- 2Automobile sectorfalse
- 3Banking sectortrue
- 4Sugar sectorfalse
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Answer : 3. "Banking sector"
Explanation :
The full name of CIBIL is Credit Information Bureau India Limited. It is a credit information company, which maintains records of all credit related activities of individuals and organizations. Banks, non-banking finance companies and other financial institutions submit customer credit information to the bureaus.
Q: Who decides the Repo rate in India?
1457 0605c66a040a8e965941236f0
605c66a040a8e965941236f0- 1Government of Indiafalse
- 2Ministry of Financefalse
- 3Reserve bank of Indiatrue
- 4None of thesefalse
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Answer : 3. "Reserve bank of India"
Explanation :
The repo rate is the rate at which the Reserve Bank of India borrows funds from commercial banks in the country. It is the rate at which commercial banks in India park their excess money with the Reserve Bank of India, usually for the short term.
Q: Which of the following will cause property prices to fall?
1000 05efbf6a10a52267797b6afba
5efbf6a10a52267797b6afba- 1More liquidity in the economyfalse
- 2Reduction in reverse repo rate by RBIfalse
- 3Increase in reverse repo rate by RBIfalse
- 4Demand and Supplytrue
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Answer : 4. "Demand and Supply"
Explanation :
Demand and Supply: For any given area, demand in the real estate will always be inversely proportional to supply. If there is a decrease in supply, prices will obviously go up for the existing projects. With an overall increase in the number of unsold housing projects, prices will go down for each one of them.
Q: Which of the following industries has the highest labor force in India?
1199 05efbf5c3196e681f76e96f43
5efbf5c3196e681f76e96f43- 1Cement Industryfalse
- 2textile industrytrue
- 3Jute Industryfalse
- 4Iron-steel industryfalse
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Answer : 2. "textile industry"
Explanation :
In 2021, 43.96 percent of the workforce in India were employed in agriculture, while the other half was almost evenly distributed among the two other sectors, industry and services. While the share of Indians working in agriculture is declining, it is still the main sector of employment.