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.
11. Which is not a semi-luxury tourist train in India?
[A] Heritage Circuit
[B] Tiger Express
[C] Desert Circuit
[D] Palace on Wheels
Show Answer
Correct Answer: D [Palace on Wheels]
Notes:
Palace on Wheels is a luxury train launched in 1982 by Indian Railways for Rajasthan tourism. It has 14 air-conditioned saloons, two restaurants, and a bar. The train covers destinations like Jaipur, Udaipur, Jaisalmer, and Agra. Palace on Wheels is classified as a luxury train, not semi-luxury. It operates with high-end amenities unlike other circuit trains.
12. Which of the following was the operational period of 12th Five Year Plan?
[A] 2007–12
[B] 2012–17
[C] 2015–20
[D] 2005–10
Show Answer
Correct Answer: B [2012–17]
Notes:
Twelfth Plan (2012–2017) of the Government of India has been decided to achieve a growth rate of 8.2% but the National Development Council (NDC) on 27 December 2012 approved a growth rate of 8% for the Twelfth Five-Year Plan.
13. In which type of remittances, money is transferred from one country to another?
[A] Foreign Remittance
[B] Digital Remittance
[C] Blockchain Remittance
[D] None of the above
Show Answer
Correct Answer: A [Foreign Remittance]
Notes:
In banking terminology, remittance means transfer of fund one place to another. When money transferred from one country to another, this is called Foreign Remittance.
14. Which among the following is/are correct regarding Call Money?
[A] No Collateral is required in Call Money transaction
[B] It is the money lent/borrowed for maximum period of 30 days
[C] It is the money lent/borrowed for maximum period of 45 days
[D] Banks borrow primarily from customers
Show Answer
Correct Answer: A [ No Collateral is required in Call Money transaction ]
Notes:
Call money is the money lent/borrowed for maximum period of 14 days. No Collateral is required in Call Money transaction. Banks borrow primarily from the inter-bank (call money) market.
15. Which type of Economy is Indian Economy?
[A] Mixed
[B] Market
[C] Capitalist
[D] Socialist
Show Answer
Correct Answer: A [Mixed]
Notes:
Indian Economy is a mixed economy where both state and market play a key role in the management of economy. In India both the Public sector as well as the private sector coexist.
16. Which of the following are the methods of poverty estimation?
[A] Sen Index
[B] Multidimensional poverty index
[C] Poverty gap Index
[D] All of the above
Show Answer
Correct Answer: D [All of the above]
Notes:
Amartya Sen, noted Nobel Laureate, has developed an index known as Sen Index to estimate the poverty.
The Global Multidimensional Poverty Index (MPI) was developed in 2010 by the Oxford Poverty & Human Development Initiative (OPHI) and the United Nations Development Programme and uses health, education, and standard of living indicators to determine the degree of poverty experienced by a population.
The poverty gap index is a measure of the intensity of poverty.
17. Green revolution was launched in which five year plan?
[A] 3rd
[B] 4th
[C] 5th
[D] 2nd
Show Answer
Correct Answer: B [4th]
Notes:
The Green Revolution commenced in 1968, leading to an increase in food grain production, especially in Punjab, Haryana, and Uttar Pradesh. Thus, Green revolution coincided with Fourth Plan (1969–1974).
18. Which five-year plan has the objective of “Faster and more inclusive growth”?
[A] 10th
[B] 11th
[C] 9th
[D] 12th
Show Answer
Correct Answer: B [11th]
Notes:
The 11th Five-year plan was from 2007-12. It was prepared by the C. Rangarajan. Its main theme was “faster and more inclusive growth”.
19. When was the 2nd Rolling plan introduced?
[A] 1976-77
[B] 1978-79
[C] 1980-81
[D] 193-84
Show Answer
Correct Answer: B [1978-79]
Notes:
After Morarji Desai came to power he started with an annual plan for 1978-79 and as a continuation of the terminated fifth-five year plan.
20. What is the current average farm size in India?
[A] 0.74 hectares
[B] 2.28 hectares
[C] 1.2 hectares
[D] 46 hectares
Show Answer
Correct Answer: A [0.74 hectares]
Notes:
According to the Agriculture Census of India 2015-16, the average size of operational holdings has decreased to 1.08 hectares. Recent estimates, including NABARD All India Rural Financial Inclusion Survey 2016-17, place the average farm size at around 0.74 hectares. The average size was 2.28 hectares in 1970-71. Approximately 86% of Indian farmers are small or marginal with less than 2 hectares.
