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. Shankar-6 or Sankar-6 is a variety of which of the following commodities?
[A] Mustard
[B] Cotton
[C] Groundnut
[D] Soyabean

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2. Interest Rate Policy is a part of which of the following?
[A] Fiscal Policy
[B] Monetary policy
[C] Industrial Policy
[D] All the above

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3. The minimum support prices (MSP) for major agricultural products are fixed by the government, each year, after taking into account the recommendations of which of the following organizations?
[A] Planning Commission of India
[B] Finance Commission of India
[C] Farmer’s Commission of India
[D] Commission for Agricultural Costs and Prices

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4. Which among the following definition is nearest to the Gross Budgetary Support?
[A] value of gross revenue receipts by the government
[B] Value of total plan expenditure
[C] Fraction of total expenditure of the government on different Central sectors plans
[D] Fraction of total expenditure of the government on different Central sectors/ ministries/departments and the support to State/Union Territory Plan

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5. M3 is the most important component among all money stock measures . What is the common name of M3?
[A] All money
[B] Total Money
[C] Broad Money
[D] White Money

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6. Consider the following: 

  1. Foreign Direct Investments
  2. Foreign Institutional Investments 
  3. American Depository Receipts 
  4. Global Depository Receipts

In context with the “Sources of Foreign Exchange Reserves” which among the above are placed under Portfolio Investment?

[A] 1, 3 & 4
[B] 2, 3 & 4
[C] 1 & 2
[D] 3 & 4

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7. Via which of the following, the Ministry of Finance is required to review every quarter the trends in Receipts and Expenditure in relation to the Budget and place it before both Houses of Parliament?
[A] Constitution of India
[B] Responsibility and Budget Management Act 2003
[C] Finance Acts of every year
[D] Order of President of India

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8. Which of the following bodies approves the Fair and Remunerative Price of Sugarcane?
[A] Cabinet Committee on Economic Affairs
[B] Commission for Agricultural Costs and Prices
[C] Directorate of Marketing and Inspection, Ministry of Agriculture
[D] Agricultural Produce Marketing Committee

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9. What is IPO in context to a company?
[A] The first sale of stock by a private company to the public
[B] Upgradation of shares from primary to secondary market
[C] Selling of shares at premium by a company
[D] Convert of a private limited company to public limited Company

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10. Which of the following is / are correct statements about “Adopt a Heritage Scheme”?

  1. It is an initiative under Ministry of Culture
  2. Under this scheme, government has appointed private as well as public companies as “Monument Mitras” to boost heritage tourism in the country

Select the correct option from the codes given below:

[A] Only 1
[B] Only 2
[C] Both 1 & 2
[D] Neither 1 nor 2

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