IMPORTANT GOVERNMENT EXAM QUESTIONS ON INDIAN ECONOMY

1) Which among the following was the first bank purely managed by Indians?
A) Oudh Commercial Bank
B) Punjab National Bank
C) Bank of India
D) All

Ans: Punjab National Bank

2) The concept of ‘Universal Banking’ was implemented in India on the recommendations of:
A) Abid Hussain Committee
B) R H Khan Committee
C) S Padmanabhan Committee
D) Y H Malegam Committee

Ans: R H Khan Committee 

3) The concept of Goods and Services Tax (GST) is originated in.....
A) Canada
B) USA
C) Britain
D) Germany

Ans: Canada

4) 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

Ans: Essar Oil

5) Which among the following is not an indirect tax?
A) Corporation Tax
B) Service Tax
C) Custom Duty
D) Excise duty

Ans: Corporation Tax

6) 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

Ans: prices of exports remain constant

7) Urban Co-operative banks are governed by?
A) State Governments
B) RBI
C) Both a and b
D) Central Government

Ans: Both a and b

8) Which of the following is a constitutional body?
A) National Development Council
B) NITI Aayog
C) Finance Commission
D) None of the above

Ans: Finance Commission

9) In India, which one among the following formulates the fiscal policy?
A) Planning Commission
B) Ministry of Finance
C) Finance Commission
D) The Reserve Bank of India

Ans: Ministry of Finance

10) Who among the following was the chairman Financial Sector Legislative Reforms Commission (FSLRC)?
A) Justice B N Srikrishna
B) Justice Debi Prasad P
C) Prof. Y H Malegam
D) Justice Shivraj V patil

Ans: Justice B N Srikrishna

11)  Which Indian state is the largest producer of Hydro electricity ?
A) West Bengal
B) Jaipur
C) Andhra Pradesh
D) Uttar Pradesh

Ans: Andhra Pradesh

12) Which is the largest electricity producing state in India ?
A) Maharashtra
B) Gujarat
C) Rajasthan
D) Goa

Ans: Maharashtra

13) The P/E is one of the most talked about ratios in the stock market. What does P/E refer to____?
A) Profit to Expenditure
B) Price to Earning
C) Profit to Earning
D) Provisional to Estimates

Ans: Price to Earning

14) When the first Economic Census was done in India
A) 1958
B) 1972
C) 1977
D) 1983

Ans: 1977

15) Who Presented the first Union Budget of Independent India
A) C.D.Deshmukh
B) John Mathai
C) Morarji Desai
D) R.K.Shanmukham chetty

Ans: R.K.Shanmukham chetty

16) The Headquarter of RBI is in
  A) Delhi
  B) Kanpur
C) Mumbai
  D) Nasik

Ans: Mumbai

17) In terms of poverty, which among the following states has the maximum poverty?
A) Bihar
B) Odisha
C) Chhattisgarh
D) Jharkhand

Ans: Chhattisgarh

18) Paper currency first started in India in
A) 1861
B) 1542
C) 1601
D) 1880

Ans: 1861

19) The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of
A) 15 to 20 percent
B) 20 to 25 percent
C) 25 to 30 percent
D) 30 to 35 percent

Ans: 20 to 25 percent

20) In India, the first bank of limited liability manages by Indians and founded in 1881 was
A) Hindustan Commercial Bank
B) Oudh Commercial Bank
C) Punjab National Bank
D) Punjab and Sind Bank

Ans: Oudh Commercial Bank