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Indian Economy MCQ for Bank PO Exams with Solutions
Central co-operative Banks work at:
(a) Block level
(b) State level
(c) District level
(d) National level
Option c – District level
In which year was the Reserve Bank of India established? ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) 1935
(b) 1940
(c) 1947
(d) 1949
Option a – 1935
The Bank rate is the rate at which:
(a) The RBI lends to the public
(b) A bank lends to the public
(c) The RBI gives credit to the commercial bank
(d) The government of India lends to other countries
Option c – The RBI gives credit to the commercial bank
Which bank became the first bank to open its branch in China? ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) HDFC Bank
(b) State Bank of India
(c) IDBI Bank
(d) Punjab National Bank
Option b – State Bank of India
The chairman of the National Knowledge Commission is:
(a) Rahul Bajaj
(b) Rahul Gandhi
(c) Sam Pitroda
(d) M. S. Swaminathan
Option c – Sam Pitroda
The tax on import and export is known as: ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Income tax
(b) Trade tax
(c) Excise duty
(d) Custom duty
Option d – Custom duty
When was the wealth tax first introduced in India?
(a) 1948
(b) 1957
(c) 1976
(d) 1991
Option d – 1991
Which of the following taxes/duties is not under the jurisdiction of the central government? ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Land revenue
(b) Custom Duties
(c) Corporate Income tax
(d) Personal Income tax
Option a – Land revenue
MODVAT is related to:
(a) Income tax
(b) Sales tax
(c) Wealth tax
(d) Excise duty
Option d – Excise duty
Economic Planning is in: ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) State List
(b) Union List
(c) Concurrent List
(d) Not any specific List
Option c – Concurrent List
Which is the tax imposed by the central government of India but its revenue is divided between the center and states?
(a) Custom Duty
(b) Corporation Tax
(c) Central Excise Duty
(d) None of these
Option c – Central Excise Duty
The recommendations of the Kelkar Task Force relate to: ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Trade
(b) Taxes
(c) Banking
(d) Foreign investment
Option b – Taxes
The recommendations of the Sarkaria Commission relate to:
(a) Centre-state relations
(b) Distribution of Revenue
(c) Membership of Parliament
(d) Power and functions of the president of India
Option a – Centre-state relations
Swarnjayanti Gram Swarojgar Yojana was started in the year: ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) 1999
(b) 2000
(c) 2001
(d) 2004
Option a – 1999
Which of the following is a private bank?
(a) Punjab National Bank
(b) Allahabad Bank
(c) Punjab Bank
(d) Punjab and Sind Bank
Option c – Punjab Bank
The concept of sustainable development relates to: ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Social equity
(b) Exhaustible resources
(c) Consumption level
(d) Intergenerational equity
Option d – Intergenerational equity
Annapurna scheme launched by the government of India from April 2000 was meant to provide food security to the:
(a) Senior citizens not covered under the National Old Age Pension Scheme
(b) Rural poor living below the poverty line
(c) Urban slum dwellers living below the poverty line
(d) Victims of natural calamities, who are forced to migrate to other areas
Option a – Senior citizens not covered under the National Old Age Pension Scheme
Who is called the pioneer of liberalization of the Indian economy? ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) P. V. Narsimha Rao
(b) P. Chidambaram
(c) Dr. Bimal Jalan
(d) Dr. Manmohan Singh
Option d – Dr. Manmohan Singh
Which one of the following public sector banks’ emblem features a dog and the words ‘faithful friendly’ in it?
(a) Oriental Bank of Commerce
(b) State Bank of India
(c) Syndicate Bank
(d) Punjab National Bank
Option c – Syndicate Bank
What is the Saudi Arabian currency called? ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Riyal
(b) Dirham
(c) Peso
(d) Dinar
Option a – Riyal
Which sector of the Indian economy has shown remarkable expansion during the last decade?
(a) Primary sector
(b) Secondary sector
(c) Mining sector
(d) Tertiary sector
Option d – Tertiary sector
When was the Planning Commission established? ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) 10th March 1950
(b) 15th March 1950
(c) 20th March 1950
(d) Fourth five year plan
Option b – 15th March 1950
The iron and steel plants of Rourkela and Durgapur were conceived under the:
(a) First five year plan
(b) Second five year plan
(c) Third five year plan
(d) Fourth five year plan
Option b – Second five year plan
The percentage of urban population to the total population in India is: ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) 20.28
(b) 22.52
(c) 25.72
(d) 27.80
Option d – 27.80
It will be true to classify India as:
(a) A trade-surplus economy
(b) A labour-surplus economy
(c) A capital-surplus economy
Option b – A labour-surplus economy
Who won the 1998 Nobel Prize in Economics? ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Marshall
(b) Paul Samuelson
(c) Solow
(d) Amartya Sen
Option d – Amartya Sen
The decadal growth in the population of India during 1991-2001 is close to:
(a) 25%
(b) 21%
(c) 17%
(d) 13%
Option b – 21%
Which one of the following is the central theme of the Chipko Movement started by Sunder Lal Bahuguna in 1973? ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Protection of birds
(b) Protection of Cheetals
(c) Conservation of forests
(d) Conservation of river water
Option c – Conservation of forests
Where is the Central Food Technological Research Institute (CFTRI) situated?
(a) Karnal
(b) Mysore
(c) Bengaluru
(d) Lucknow
Option b – Mysore
Raurkela Steel Plant was set up with assistance from:
(a) UK
(b) USA
(c) USSR
(d) West Germany
Option d – West Germany
What are ‘Core Industries’ in India? ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Coal
(b) Electricity
(c) Petroleum product
(d) All of these
Option d – All of these
The first Industrial Policy of free India was announced in the year:
(a) 1956
(b) 1951
(c) 1948
(d) 1947
Option c – 1948
Which one of the following is not an example of economic overheads? ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Coal Mines
(b) Sanitary Facilities
(c) Schools
(d) Roads and Railways
Option a – Coal Mines
The Hindu rate of growth refers to the rate of growth of:
(a) Population
(b) GDP
(c) Per capita income
(d) Food grains
Option b – GDP
The Rolling Plan concept in national planning was introduced by: ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Rajiv Gandhi Government
(b) The Janata Party Government
(c) The National Front Government
(d) Indira Gandhi Government
Option b – The Janata Party Government
The Gandhian Plan was expounded in 1944 by:
(a) N. R. Sarkar
(b) Shriman Narayan Agrawal
(c) Jay Prakash Narayan
(d) Kasturi Bhai Lal Bhai
Option b – Shriman Narayan Agrawal
National Development Council (NDC) deals with: ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Rural Development Programme
(b) Preparation of Development Plans
(c) The approval of Five-Year Plans
(d) Poverty Alleviation Programme
Option c – The approval of Five-Year Plans
Which among the following states had the highest sex ratio in 2011?
(a) Orissa
(b) Andhra Pradesh
(c) Karnataka
(d) Tamil Nadu
Option d – Tamil Nadu
In India, disguised unemployment is found in: ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Trade sector
(b) Industrial sector
(c) Service sector
(d) Agriculture sector
Option d – Agriculture sector
Who is known as the Father of the White Revolution in India?
(a) K. N. Bahal
(b) B. P. Pal
(c) V. Kurien
(d) M. S. Swaminathan
Option c – V. Kurien
Dr. M. S. Swaminathan has distinguished himself in which of the following fields? ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Medicine
(b) Nuclear Physics
(c) Agriculture
(d) Astrophysics
Option c – Agriculture
National Agricultural Insurance Scheme was introduced in the year:
(a) 1997
(b) 1998
(c) 1999
(d) 2000
Option c – 1999
Bharat Nirman plan is associated with the development of: ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Rural Infrastructure
(b) Urban Infrastructure
(c) Bridges and roads
(d) Information Technology
Option a – Rural Infrastructure
The Oil and Natural Gas Commission (ONGC) was set up in:
(a) 1956
(b) 1957
(c) 1959
(d) 1961
Option a – 1956
Pradhan Mantri Jan-Dhan Yojana was launched in India on: ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) 28th August 2014
(b) 5th September 2014
(c) 8th December 2014
(d) 26th January 2015
Option a – 28th August 2014
The Mid-Day Meal scheme is financed and managed by:
(a) Ministry of Human Resource Development
(b) Ministry of Programme Implementation
(c) Department of Consumer Affairs and Welfare
(d) Food and Civil Supply Department of State Government
Option a – Ministry of Human Resource Development
The Scheme of Mid-Day Meal is not connected with: ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Child nutrition
(b) Social equity
(c) Right to food
(d) Educational advancement
Option c – Right to food
In the national context, which of the following indicates a Macro approach?
(b) Inflation in India
(c) Exports of mangoes to UK
(d) Sales of Bata shoe company
Option c – Exports of mangoes to UK
The outline of the Second Five-Year Plan was made by: ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) C. N. Vakil
(b) B. N. Gadgil
(c) P. C. Mahalanobis
(d) V. K. R. V. Rao
Option c – P. C. Mahalanobis
When was the Planning Commission established?
(a) 10th March 1950
(b) 15th March 1950
(c) 16th March 1950
(d) 20th March 1950
Option b – 15th March 1950
The period of the Plan Holiday in India was: ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) 1962-65
(b) 1966-69
(c) 1969-72
(d) 1972-75
Option b – 1966-69
National Development Council was constituted on:
(a) April 1, 1951
(b) August 6, 1952
(c) August 16, 1950
(d) August 16, 1952
Option b – August 6, 1952
Which amongst the following were the most literate in India as per the 2001 Census? ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Jains
(b) Sikhs
(c) Christians
(d) Buddhists
Option a – Jains
India is regarded as a country with a Demographic Divide due to:
(a) Its high population in the age group below 15 years
(b) Its high population in the age group of 15-64 years
(c) Its high population in the age group above 65 years
(d) Its high total population
Option b – Its high population in the age group of 15-64 years
The highest and lowest growth rate of population during 1991-2001 was achieved in: ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Bihar and Delhi
(b) Mizoram and Kerala
(c) Nagaland and Kerala
(d) Uttar Pradesh and Kerala
Option c – Nagaland and Kerala
In India, the state known for its sandalwood is:
(a) Assam
(b) West Bengal
(c) Kerala
(d) Karnataka
Option d – Karnataka
Taxation is a tool of: ( Indian Economy MCQ for Bank PO Exams with Solutions )
(a) Wage policy
(b) Fiscal policy
(c) Monetary policy
(d) Price policy
Option b – Fiscal policy
Which from the following is not a Navaratna PSU?
(a) Shipping Corporation of India
(b) NTPC
(c) BHEL
(d) SAIL
Option a – Shipping Corporation of India
The largest component of National income in India is:
(a) Service sector
(b) Trade sector
(c) Agriculture
(d) Industrial sector
Option a – Service sector
The Ganga Action Plan was directed by:
(a) Indira Gandhi
(b) Atal Bihari Vajpayee
(c) Manmohan Singh
(d) Rajiv Gandhi
Option d – Rajiv Gandhi
The duration of which Five-Year Plan was of four years only?
(a) Third
(b) Fifth
(c) Fourth
(d) Seventh
Option b – Fifth
Which one of the following is an example of a Non-Banking Finance Institution?
(a) SBI
(b) RBI
(c) LIC
(d) IOB
Option c – LIC
SEBI was set up in:
(a) 1980
(b) 1984
(c) 1988
(d) 1992
Option c – 1988
Which of the following PSUs has been privatized?
(a) CMC
(b) NALCO
(c) HZL
(d) Hotel Corporation of India
Option c – HZL
The symbol of Reserve Bank of India is:
(a) Tiger before palm tree
(b) Capital of Ashokan pillar
(c) Kuber with a purse of money
(d) A dog sitting in a defensive state
Option a – Tiger before palm tree
The proceeds of income tax go to:
(a) State government
(b) Central government
(c) Corporation authorities
(d) Centre and states
Option d – Centre and states
Identify the Navratna Company in the following:
(a) Air India
(b) HPCL Ltd.
(c) Infosys
(d) ICICI Bank
Option b – HPCL Ltd.
India’s biggest nationalized enterprise today is:
(a) The Indian commercial banking system
(b) The Indian power sector
(c) The Indian Railways
(d) The Indian Telecommunication system
Option c – The Indian Railways
The insurance sector in India is regulated by:
(a) RBI
(b) IRDA
(c) SEBI
(d) CII
Option b – IRDA
The Annapurna scheme was implemented in the year:
(a) 1996
(b) 1998
(c) 1999
(d) 2000
Option d – 2000
The Planning Commission of India was constituted in:
(a) 1950
(b) 1955
(c) 1942
(d) 1947
Option a – 1950
Where is the Indian Institute of Foreign Trade located?
(a) Mumbai
(b) New Delhi
(c) Hyderabad
(d) Ahmedabad
Option b – New Delhi
Which is the biggest tax-paying sector in India?
(a) Banking sector
(b) Agriculture sector
(c) Transport sector
(d) Industrial sector
Option d – Industrial sector
Gross National Product – Depreciation Allowance = ?
(a) Per Capita Income
(b) Personal Income
(c) Net National Product
(d) Gross Domestic Product
Option c – Net National Product
The difference in the value of visible exports and visible imports is called:
(a) Balance sheet of items
(b) Balance of trade
(c) Balance of payments
(d) Balance of account
Option b – Balance of trade
The relationship between the rate of interest and the level of consumption was first visualized by:
(a) Milton Friedman
(b) Irving Fisher
(c) Amartya K. Sen
(d) James Duesenberry
Option b – Irving Fisher
Division of labour is limited by:
(a) Hours of work
(b) Extent of the market
(c) The number of workers
(d) Extent of the market
Option c – The number of workers
Knowledge, technical skill, education, etc., in economics are regarded as:
(a) Human capital
(b) Working capital
(c) Social overhead capital
(d) Tangible physical capital
Option d – Tangible physical capital
If a change in all inputs leads to a proportionate change in output, it is a case of:
(a) Constant returns to scale
(b) Diminishing returns to scale
(c) Variable returns to scale
(d) Increasing returns to scale
Option a – Constant returns to scale
The main emphasis of Keynesian economics is:
(a) Exchange
(b) Expenditure
(c) Taxation
(d) Foreign Trade
Option b – Expenditure
Which one of the following is not a method of computing GNP?
(a) Saving Approach
(b) Income Approach
(c) Value-added Approach
(d) Expenditure Approach
Option b – Income Approach
A ‘Transfer Income’ is:
(a) Earned income
(b) Unearned income
(c) Income taken away from one person and given to another
(d) Income which is not produced by any production process
Option d – Income which is not produced by any production process
National income includes:
(a) Pocket money of a child
(b) Winning of a lottery prize
(c) Construction of a new house
(d) Financial help to earthquake victims
Option c – Construction of a new house
Personal disposable income is:
(a) Equal to personal income minus direct taxes
(b) Always more than personal income
(c) Always equal to personal income
(d) Equal to personal income minus indirect taxes
Option a – Equal to personal income minus direct taxes
In the context of the stock market, IPO stands for:
(a) Initial Public Offer
(b) Internal Policy Obligation
(c) International Payment Obligation
(d) Immediate Payment Order
Option a – Initial Public Offer
Barter transaction means:
(a) Goods are exchanged with goods
(b) Money acts as a medium of exchange
(c) Coins are exchanged for goods
(d) Goods are exchanged with gold
Option a – Goods are exchanged with goods
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