Economics set 1 MCQs
Practice interactive objective questions for this topic. Select an option to instantly verify your answer and read detailed explanations.
Q.181
According to Ministry of Agriculture and Farmers Welfare, what was the total food grain production of India in the year 2022-23?
A
2266.23 lakh tonnes
B
2876.17 lakh tonnes
C
2491.58 lakh tonnes
D
3296.87 lakh tonnes
Q.182
Rotating Savings and Credit Association (ROSC(A) was introduced by Shirley Ardener in the year .
A
1970
B
1964
C
1963
D
1955
Q.183
Which of the following is a key health indicator used in the Global Multidimensional Poverty Index (MPI)?
A
Sleep Deprivation
B
Undernutrition
C
Lack of Housing
D
Lack of Clothing
Q.184
What is the role of a commercial bank in the economy?
A
To print and issue currency
B
To regulate the money supply
C
To provide financial services, such as accepting deposits, lending money and facilitating payments
D
To set interest rates for the entire banking system
Q.185
As per the National Multidimensional Poverty Index 2021, which of the following groups of states is the poorest?
A
Punjab, Himachal Pradesh, Uttarakhand
B
Kerala, Karnataka, Tamil Nadu
C
Bihar, Uttar Pradesh, Jharkhand
D
Gujarat, Maharashtra, Telangana
Q.186
What is the primary objective of Microfinance Institutions (MFIs) in India?
A
To provide financial services to large corporations
B
To offer financial assistance and services to low-income individuals and entrepreneurs
C
To generate profits for shareholders
D
To fund government projects
Q.187
What is Gross Domestic Product (GDP) in the context of National Income Accounting?
A
The total exports of a country
B
The total savings of a nation
C
The total income of a country's government
D
The total value of all goods and services produced within a country's borders in a specific period
Q.188
Which of the following is NOT included in the national income?
A
Income received by a household for the use of their land
B
Income received by a person for the use of his capital
C
Income received by a household for the use of their entrepreneurial skill
D
Income received by a person as a donation
Q.189
Which financial products are commonly offered by Microfinance Institutions in India?
A
Complex investment options
B
Savings, credit and insurance services tailored for low-income individuals
C
Specialised services for multinational corporations
D
Exclusive services for high-income individuals
Q.190
…….was launched by the Government of India in 2020 to make the country and its citizens independent and self-sufficient in all respects.
A
Aatmanirbhar Bharat Abhiyan
B
annual exposed budget
C
revised budget
D
state budget
Q.191
According to Economic Survey 2023-24, which of the following states is the largest wheat producing state of India?
A
Bihar
B
Uttar Pradesh
C
West Bengal
D
Assam
Q.192
In Union Budget 2023, a sub-scheme of which of the following Yojanas has been proposed with the investment of ₹6,000 crore to enable activities of fishermen, fish vendors and micro and small enterprises?
A
PM Matsya Sampada Yojana
B
PM Fasal Bima Yojana
C
PM Mudra Yojana
D
PM Ujjwala Yojana
Q.193
Which of the following is an example of a private sector Industry?
A
Steel Authority of India Limited
B
Bharat Heavy Electricals Limited
C
Tata Iron and Steel Company
D
Life Insurance Corporation
Q.194
According to National Multidimensional Poverty Index 2023 (A Progress Review), which state has the highest proportion of multidimensionally poor people (Headcount Ratio)?
A
Odisha
B
Jharkhand
C
Bihar
D
Rajasthan
Q.195
Air and National Defence are examples of which of the following goods?
A
Private goods
B
Common goods
C
Public goods
D
Club goods
Q.196
How many central banks can a country have?
A
Four
B
One
C
Three
D
Two
Q.197
According to the Ministry of Agriculture and Farmers Welfare 2022-23, which state of India is the largest producer of sugarcane?
A
Andhra Pradesh
B
Karnataka
C
Uttar Pradesh
D
Bihar
Q.198
Which of the following is NOT a private sector industry in India?
A
Dabur Industries
B
Bharat Heavy Electricals Limited (BHEL)
C
Bajaj Auto Ltd.
D
Tata Iron and Steel Company (TISCO)
Q.199
The Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) was launched by which Ministry of Government of India in the year 2016?
A
Ministry of Rural Development
B
Ministry of Labour and Employment
C
Ministry of Finance
D
Ministry of Housing and Urban Affairs
Q.200
Which of the following best describes a budget deficit?
A
Government revenue exceeds government spending
B
Government spending exceeds government revenue
C
The government is saving for future projects
D
The government is not allocating enough funds for public services
Q.201
Which Ministry of India launched the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY)?
A
Ministry of Finance
B
Ministry of Labour \& Employment
C
Ministry of Rural Development
D
Ministry of Social Justice and Empowerment
Q.202
What is the main purpose of the office of the Comptroller and Auditor General (CAG)?
A
Regulating tax collection
B
Investigating and reporting on financial transactions
C
Enforcing government policies
D
Formulating the national budget
Q.203
Which of the following initiatives of the Government of India promises 100 days of guaranteed wage employment to all the rural households who volunteer to do unskilled manual work?
A
Mahatma Gandhi National Rural Employment Guarantee Scheme
B
Pradhan Mantri Rojgar Protsahan Yojana
C
National Career Service
D
Pradhan Mantri Garib Kalyan Rojgar Abhiyaan
Q.204
In India, documented by a study, in which level of education is the majority of the population unemployed?
A
Matriculates
B
Middle school
C
Primary school
D
Graduate and post-graduate
Q.205
The scheme, that covers artisans related to 18 fields, was included under the 'Payments Infrastructure Development Fund' ('PIDF') scheme by the Reserve Bank of India in October 2023.
A
PM Ullas
B
PM Vishwakarma
C
PM Swanidhi
D
PM USHA
Q.206
Which of the following statements is/are correct about the Union Government budget in India? a) It is an annual financial statement. b) It is presented by the Finance Minister. c) It outlines estimated receipts and expenditures.
A
Only c
B
All a, b and c
C
Only a
D
Only a and b
Q.207
Which of the following statements is true about Micro Finance institutions?
A
Service provided to High income people only
B
Type of banking service provided to employed
C
Can provide jumbo loan
D
Majority of microfinancing operations occur in developing countries
Q.208
During which Five-Year Plan did the expansion of microfinance and Self-Help Group (SHG) bank linkages receive significant policy thrust for financial inclusion in India?
A
Tenth Year Plan (2002-2007)
B
Fourth Five-Year Plan (1966-1974)
C
Ninth Five-Year Plan (1997-2002)
D
Seventh Five-Year Plan (1985-90)
Q.209
In which year was Pt. Deen Dayal Upadhyaya Grameen Kaushalya Yojana (Scheme) announced by the Government of India?
A
2013
B
2010
C
2012
D
2014
Q.210
In which year did the Government of India pass the Mahatma Gandhi National Rural Employment Guarantee Act?
A
2001
B
1999 175
C
2005
D
2003