Economics Jkssb Economics Set 1 Mcqs (296 MCQs) | JKSSB & SSC Quiz

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jkssb economics set 1 mcqs

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Practice Questions

296 Total
Question 201 Discuss
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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

Answer & Explanation

Correct Option: B

The Ministry of Labour and Employment implemented this scheme to promote job creation by subsidizing employers' EPF and EPS contributions for new employees.
Question 202 Discuss
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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

Answer & Explanation

Correct Option: B

The CAG of India is an independent constitutional authority responsible for auditing all receipts and expenditures of the Government of India and the state governments to ensure financial accountability.
Question 203 Discuss
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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

Answer & Explanation

Correct Option: A

Enacted in 2005, MGNREGA is a landmark social security measure that legally guarantees 100 days of wage employment in a financial year to rural households volunteering for unskilled manual work.
Question 204 Discuss
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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

Answer & Explanation

Correct Option: D

Multiple economic surveys and studies indicate that the unemployment rate in India is structurally higher among graduates and post-graduates compared to those with lower levels of education due to a lack of suitable formal jobs.
Question 205 Discuss
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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

Answer & Explanation

Correct Option: B

The PM Vishwakarma scheme, launched to support traditional artisans and craftspeople across 18 trades, was integrated into the RBI's PIDF to boost digital payment acceptance at the grassroots level.
Question 206 Discuss
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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

Answer & Explanation

Correct Option: B

Article 112 of the Indian Constitution mandates the presentation of the Annual Financial Statement (Budget), detailing the government's estimated revenues and expenditures, which is traditionally presented by the Finance Minister.
Question 207 Discuss
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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

Answer & Explanation

Correct Option: D

Microfinance is predominantly utilized in developing nations as a critical tool for poverty alleviation and financial inclusion for populations lacking access to traditional banking.
Question 208 Discuss
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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)

Answer & Explanation

Correct Option: A

The Tenth Five-Year Plan explicitly recognized microfinance as a crucial tool for poverty reduction and vigorously promoted the SHG-Bank Linkage Programme to expand financial inclusion.
Question 209 Discuss
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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

Answer & Explanation

Correct Option: D

DDU-GKY was launched in September 2014 by the Ministry of Rural Development to transform rural poor youth into an economically independent and globally relevant workforce.
Question 210 Discuss
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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

Answer & Explanation

Correct Option: C

The landmark MGNREGA legislation was passed in 2005 to enhance livelihood security in rural areas by providing at least 100 days of guaranteed wage employment.
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