Indian Economy Notes for UPSC, SSC, Bank, Civil Services

1. CENVAT is associated with which rate? – Rate of indirect tax
2. What does National income ignore? – Salary of employees
3. How is Indian economy ? – Mixed economy
4. Upon which development the Second Five Year Plan laid mote stress? – Industrialisation
5. Which is the amount of insurance cover provided to the workers of the unorganized sector under Rashtriya Swasthya Bima Yojana ? – Rs. 30,0007
6. What is the inflation experienced in the country at present? – Cost-push inflation
7. What is Broad money in India? – M3
8. By which bank are the central banking functions in India performed? – Reserve Bank of India
9. Of which bills Open market operations of a Central Bank are sale and purchase? – Trade bills
10. Stock Exchanges play a role in an economy how may itbe termed? – Useful but need strict regulation

11. What is temporary tax levied to obtain additional revenue? – Surcharge
12. Among Indian Economists who had done pioneering work on National Income ? – V. K. R. V. Rao
13. From which sector is the largest contribution in India’s National Income? – Tertiary sector
14. The highest-weight in the revised Whole Sale Price Index, implemented from September 2010 is given to which item? – Food items
15. The performance of which industry is considered performance of the core industry? – Oil and Petroleum
16. Which is the biggest Public Sector undertaking in the country? – Railways
17. Which committee was assigned to recommend reforms in the insurance sector? – Malhotra Committee
18. What percentage of country’s demand for natural rubber is met by in indigenous production? – 97%
19. What is the main source of fund for the National Highway Authority of India? – Cess
20. Which body finalises the Five Year Plan proposals? – National Development Council
21. By whom was the first attempt to initiate economic planning in India made? – By M. Visvesvaraya
22. In five year plan the actual growth performance in India in respect of GDP (at factor cost) was less than the target set? – Ninth five year plan
23. Under Indira Gandhi National Old Age Pension Scheme (IGNOAPS), the benefits are available to the people having howmuch minimum age of? – 65 years
24. What is an essential attribute of inflation? – Increase in prices
25. Which bank prints currency notes of the denomination of Rs. 100? – The Bank Note Press, Dewas
26. Amongst the currency quotes USD/JPY, USD/Euro and USD/CAD, which one is referred as the base currency for quotes? – US $
27. Of which purpose was Nationalisation of banks done? – Consolidating the economy
28. In which year, some more commercial banks in addition to the first lot of 141 were nationalised in India? – 1980
29. Who are Debenture holders of a company? – Its creditors
30. What is the basic attribute of a formal organization? – Rules and regulations
31. In recent years, how have the capital outlays for the defence service? – Increasing steadily
32. Which tax is not levied by the Union Government? – Profession Tax
33. Which organizations agency is involved in drafting the Union Budget of India? – Administrative Ministries only
34. Which agency has the power to declare any industrial unit as a potentially sick unit? – BIFR
35. What is the mean of Invisible Export? – Export Services
36. In India, in which sector was the co-operative movement initiated ? – Agricultural credit
37. In India, which is regulated by the forward Markets Commission? – Commodities Futures Trading
38. For internal financing of Five Year Plans, the government depends on which source? – Taxation only
39. Who was the author of the chapter on “Objectives of Planned Development” for the Third Five Year Plan? – Morarji Desai
40. Of the various ways of financing government’s investment expenditure, what is the least inflationary? – taxation

41. Which Mahatma Gandhi series of currency notes issued by the RBI has “ecology” depicted on it ? – Rs. 100
42. To prevent recurrence of scams in Indian Capital Market, To whom has the Government assigned regulatory powers? – SEBI
43. In 1921, the Presidency Banks of Bengal, Madras and Bombay were nationalised to give birth to which bank? – State Bank of India
44. From which sector does the highest sector wise contribution to gross domestic saving comes? – Household sector
45. In the short run, a producer,’ how long continues his production? – Fixed cost
46. Which is the largest importer country of Indian textile? – USA
47. What does the ‘Year of Great Divide’ refere? – To rapid growth rate in population after 1921
48. What was the decentralisation system recommended? – Balwant Rai Mehta
49. What is the principal source of revenue to the State Government in India? – Sales Tax
50. A crossed cheque is one, which can be encashed only at which bank? – State Bank of India

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