Indian Economy MCQs

Indian Economy Multiple Choice Questions (MCQs) for SSC, State and all One Day Examinations of India. Objective Questions on Indian Economy for competitive examinations.

1. If the demand and supply of a commodity increase by an equal absolute amount, what will be the effect on market price?
[A] Increase
[B] Decrease
[C] Remain Stable
[D] First decrease then increase

Show Answer

2. Who among the following declared the First Industrial Policy in the Post Independence Period?
[A] Jawahar lal Nehru
[B] Syama Prasad Mookerjee
[C] Bayya Suryanarayana Murthy
[D] Rafi Ahmed Kidwai

Show Answer

3. Which sector contributes most to India’s GDP in FY26?
[A] Primary sector
[B] Secondary sector
[C] Tertiary sector
[D] Quaternary sector

Show Answer

4. For the first time in India, in which of the following Budgets “basic reforms in the international financial and trading system ” was stressed in India?
[A] 1969
[B] 1980
[C] 1983
[D] 1984

Show Answer

5. Which among the following is not an important payment and settlement systems in India?
[A] Clearing House Automated Payment System
[B] Real Time Gross Settlement System
[C] National Electronic Clearing System
[D] National Electronic Clearing System

Show Answer

6. Which of the following took birth from the Marrakech Agreement?
[A] World Economic Forum
[B] World Trade organization
[C] OPEC
[D] G-20

Show Answer

7. The term “cartelization” is mainly linked with which of the following groups?
[A] Small traders in local markets
[B] Independent firms formally agreeing to cooperate
[C] Individual investors in competitive markets
[D] Government-regulated monopolies

Show Answer

8. Which OPEC member is the largest oil producer in 2026?
[A] Venezuela
[B] Iran
[C] Saudi Arabia
[D] Canada

Show Answer

9. Who decides the interest rates on savings bank accounts in India?
[A] Central Government
[B] Banks themselves
[C] Reserve Bank of India
[D] Individual account holders

Show Answer

10. What is transfer pricing as per Indian taxation context?
[A] Method of tax evasion involving only illicit capital flows
[B] Mechanism for pricing transactions between associated enterprises
[C] Factor causing rise in food prices
[D] Recent cause of Indian banks’ bad loans

Show Answer