Indian Economy GK Questions and Answers - Set 05 - ObjectiveBooks
Indian Economy GK Questions and Answers - Set 05

Indian Economy GK Questions and Answers - Set 05

G.K. Practice Test: Question Set - 05

1. Since independence, both development and non-development expenditures have increased; the increase in the former being a little more than in the other. Non-development expenditure involves
    I. Interest payments
    II. Subsidies
    III. Defence
    IV. Irrigation
    (A) I, II
    (B) I
    (C) I, II, III
    (D) II, III, IV
2. The association of the rupee with pound sterling as the intervention currency was broken in
    (A) 1990
    (B) 1991
    (C) 1992
    (D) 1993
3. Gross domestic capital formation is defined as
    (A) Flow of expenditure devoted to increase or maintaining of the capital stock
    (B) Expenditure incurred on physical assets only
    (C) Production exceeding demand
    (D) Net addition to stock after depreciation
4. In the state of India, the State Financial Corporation have given assistance mainly to develop
    (A) Agricultural farms
    (B) Cottage industry
    (C) Large-scale industries
    (D) Medium and small-scale industries
5. Our financial system has provided for the transfer of resources from the center to the states; the important means of resource transfer are
    (A) Tax sharing
    (B) Grant-in-aids
    (C) Loans
    (D) All the above
6. Which of the following is the first Indian private company to sign an accord with Government of Myanmar for oil exploration in two offshore blocks in that country?
    (A) Reliance Energy
    (B) Essar Oil
    (C) GAIL
    (D) ONGC
7. Deficit financing means that the government borrows money from the
    (A) RBI
    (B) Local bodies
    (C) Big businessmen
    (D) IMF
8. The co-operative credit societies have a
    (A) Two-tier structure
    (B) Three-tier structure
    (C) Four-tier structure
    (D) Five-tier structure
9. Devaluation of a currency means
    (A) Reduction in the value of a currency vis-a-vis major internationally traded currencies
    (B) Permitting the currency to seek its worth in the international market
    (C) Fixing the value of the currency in conjunction with the movement in the value of a basket of pre-determined currencies
    (D) Fixing the value of currency in multilateral consultation with the IMF, the World Bank and major trading partners
10. Foreign Direct Investment ceilings in the telecom sector have been raised from 74 percent to
    (A) 80 percent
    (B) 83 percent
    (C) 90 percent
    (D) 100 percent
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