GK - Economics 7

1. The Securities and Exchange Board of India (SEBI) was established in

a) 1992
b) 1947
c) 1990
d) 1976

2. Which Five-year Plan is being implemented at present?

a) Eleventh
b) Eighth
c) Ninth
d) Tenth

3. Which of the following is not a direct tax?

a) Sales tax
b) Income tax
c) Wealth tax
d) Estate duty

4. Who is the ex-officio chairman of Planning Commission?

a) Prime Minister
b) President
c) Chief Justice of Supreme Court
d) Speaker of Lok Sabha

5. The Indian economy is

a) Capitalist
b) Socialistic
c) Mixed
d) Federal

6. Which certification indicates a guarantee of quality for agricultural food products like ghee, honey, etc.?

a) ISI
b) Agmark
c) BIS
d) All of above

7. Who was the first chairman of the Planning Commission?

a) Dr. S. Radhakrishnan
b) Jawaharlal Nehru
c) Dr. Rajendra Prasad
d) Dr. M. Vishveshwaraya

8. Who is the Deputy Chairman of Planning Commission at present?

a) Montek Singh Ahluwalia
b) B Balakrishnan
c) Manmohan Singh
d) Anil Kakodkar

9. In India farm credit is regulated by

a) SBI
b) RBI
c) NABARD
d) Union Government

10. The term of the 11th Five Year Plan is

a) 2007 – 2012
b) 2005 – 2010
c) 2008 – 2013
d) 2006 – 2011

11. When was the Tata Iron & Steel Company set up at Jamshedpur?

a) 1907
b) 1911
c) 1914
d) 1921

12. In terms of size what position does the Indian economy occupy in the world?

a) 10th
b) 12th
c) 7th
d) 9th

13. When was the General Insurance Corporation of India formed?

a) 1982
b) 1972
c) 1956
d) 1935

14. Which Five-Year Plan had adopted ‘Removal of Poverty’ as its foremost objective?

a) Second
b) Third
c) Fourth
d) Sixth

15. During the financial year 2007- 08 India recorded a GDP growth of

a) 8%
b) 8.5%
c) 9.1%
d) 9.7%

16. The economic liberalization was introduced in

a) 1991
b) 1990
c) 1985
d) 1988

17. Which industry provides the largest employment in India?

a) Chemicals
b) Textiles
c) Iron and steel
d) Jute

18. The highest denomination banknote being in circulation in India is

a) 500 rupee note
b) 1000 rupee note
c) 5000 rupee note
d) 2000 rupee note

19. Which period did the First Five-year Plan cover?

a) 1947-52
b) 1951-56
c) 1950-55
d) 1952-57

20. Who finally approves the Five-Year Plan?

a) The President
b) The Prime Minister
c) The National Development Council
d) The Planning Commission

21. When was the Decimal currency system introduced in India?

a) January 1955
b) April 1955
c) April 1951
d) April 1957

22). The Indian rupee is a legal tender in two other countries. One is Nepal. The other is

a) Pakistan
b) Sri Lanka
c) Bhutan
d) Afghanistan

23. Kerala’s shores are famous for the deposits of

a) Copper
b) Coal
c) Thorium
d) Iron ore

24. Which of the following taxes is the largest source of revenue for the Government of India?

a) Excise
b) Customs
c) Income tax
d) Corporation tax

25. The National Stock Exchange (NSE) is located at

a) Mumbai
b) New Delhi
c) Madras
d) Calcutta

Answers

1. 1992
2. Eleventh
3. Sales tax
4. Prime Minister
5. Mixed
6. Agmark
7. Jawaharlal Nehru
8. Montek Singh Ahluwalia
9. NABARD
10. 2007 – 2012
11. 1907
12. 12th
13. 1972
14. Sixth
15. 9.1%
16. 1991
17. Textiles
18. 1000 rupee note
19. 1951-56
20. The National Development Council
21. April 1957
22. Bhutan
23. Thorium
24. Excise
25. Mumbai