Indian Economy General Knowledge | Economy GK 2024

1. Economic survey is published by

A. Ministry of Finance
B. Planning commission
C. Government of India
D. Indian Statistical Institute

Answer: A. Ministry of Finance 


2. Which state in India receives an average rainfall of 200 meters?

A. Rajasthan
B. Punjab
C. Jammu—Kashmir
D. Arunachal Pradesh

Answer: C. Jammu—Kashmir 


3. Which of the following plants is commonly cultivated along roadsides to absorb vehicular pollutants?

A. Nerium
B. Neem
C. Bougainvillea
D. Calotropis

Answer: C. Bougainvillea


4. Which Indian state has the lowest literacy rate?

A. Bihar
B. Rajasthan
C. Arunachal Pradesh
D. Orissa

Answer: A. Bihar


5. The famous “Golden Ball Award” is presented in which of the following sports?

A. Cricket
B. Hockey
C. Football
D. Tennis

Answer: C. Football 


6. What is the maximum allowed interval between two sessions of Parliament?

A. 3 months
B. 4 months
C. 6 months
D. 9 months

Answer: C. 6 months


7. In which state in India the average rainfall is 200 metres?

A. Rajasthan
B. Punjab
C. Jammu—Kashmir
D. Arunachal Pradesh

Answer: C. Jammu—Kashmir 


8. The initial secret monarch to mint coins —

A. Shrigupta
B. Chandragupta First
C. Samundragupta
D. Chandragupta Second

Answer: B. Chandragupta First 


9. Gilt-edged market means

A. Bullion market
B. Market of government securities
C. Market of guns
D. Market of pure metals

Answer: B. Market of government securities 


10. The central banking duties in India are carried out by the —

I. Central Bank of India
II. Reserve Bank of India
III. State Bank of India
IV. Punjab National Bank

A. I, II
B. II
C. I
D. II, III

Answer: B. II 


11. Which of the following is responsible for formulating fiscal policy?

A. RBI
B. Finance Ministry
C. SEBI
D. Planning Commission

Answer: A. RBI


12. What type of economy does India have?

A. Socialist
B. Mixed
C. Free
4. Gandhian

Answer: B. Mixed 


13. How many members are in the GST Council of India?

A. 33
B. 34
C. 36
D. 27

Answer: A. 33 


14. Deficit financing refers to the government borrowing funds from the –

A. International Monetary Fund
B. Ministry of Finance
C. Reserve Bank of India
D. World Trade Organization

Answer: C. Reserve Bank of India  


15. Price theory is alternatively known as

A. Macro Economics
B. Development Economics
C. Public Economics
D. Micro Economics

Answer: D. Micro Economics 


16. The classification and standardization of agricultural products are managed through

A. Food Corporation of India
B. Directorate of Marketing and Inspection
C. Indian Standards Institution
D. Central Statistical Organization

Answer: B. Directorate of Marketing and Inspection 


17. Devaluation of a currency means

A. Decrease in the value of a currency compared to major globally traded currencies
B. Allowing the currency to find its value in the international market
C. Setting the currency’s value based on the fluctuations of a basket of predetermined currencies
D. Determining the currency’s value through discussions with the IMF, the World Bank, and key trading partners

Answer: A. Reduction in the value of a currency vis-a-vis major internationally traded currencies


18. If all banks in an economy are nationalized and consolidated into a single monopoly bank, the total deposits

A. will decrease
B. will increase
C. will neither increase nor decrease
D. None of the above

Answer: C. will neither increase nor decrease