General Knowledge Quiz - Indian Economy 5

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General Knowledge Quiz on  Indian Economy 5

1. If the fiscal deficit of the Union Government is Rs. 75,000 crores relending to State is Rs. 25,000 crores, interest payments are Rs. 25,000 crores, what is the amount of the primary deficit?

A. Rs. 50,000 crores
B. Rs. 25,000 crores
C. Rs. 1,00,000 crores
D. Rs. 1,25,000 crores

2. National Agricultural Insurance Scheme replacing Comprehensive Crop Insurance Scheme was introduced in the year

A. 1997
B. 1998
C. 1999
D. 2000

3. Fiscal deficit in the Union Budget means

A. the difference between current expenditure and current revenue
B. net increase in Union Governments borrowings from the Reserve Bank of India
C. the sum of budgetary deficit and net increase in internal and external borrowings
D. the sum of monetized deficit and budgetary deficit

4. The current price index (base 1960) is nearly 330. This means that

A. all items cost 3-3 times more than what they did in 1960
B. the prices of certain selected items have gone up to 3-3 times
C. weighted means of prices of certain item has increased 3-3 times
D. gold price has gone up 3-3 times

5. Devaluation of currency will be more beneficial if

A. prices of domestic goods remain constant
B. prices of exports remain constant
C. prices of imports remains constant
D. prices of exports rise proportionately

6. Notes on which denomination has the portrait of Mahatma Gandhi printed on them?

A. 1000 rupee
B. 500 rupee
C. 100 rupee
D. All of the above

7. Of the gross tax revenue of the Union Government the indirect taxes account for nearly

A. 70 per cent
B. 75 percent
C. 65 percent
D. 60 percent

8. Reserve Bank of India was nationalized in the year

A. 1935
B. 1945
C. 1949
D. 1969

9. The banks are required to maintain a certain ratio between their cash in the hand and totals assets. This is called

A. Statutory Bank Ratio (SBR)
B. Statutory Liquid Ratio (SLR)
C. Central Bank Reserve (CBR)
D. Central Liquid Reserve (CLR)

10. In India, rural incomes are generally lower than the urban incomes, which of the following reasons account for this?

I.A large number of farmers are illiterate and know little about scientific agriculture
II.Prices of primary products are lower than those of manufactured products
III.Investment in agriculture has been low when compared to investment in industry
B. I, II

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