Most Important Current Indian Economic Question With Answer

1. Which of the following schemes have been subsumed in the recently approved Ayushman Bharat – National Health Protection Mission (AB-NHPM)?

[A] Rashtriya Swasthya Bima Yojana (RSBY)
[B] Senior Citizen Health Insurance Scheme (SCHIS)
[C] National Life Insurance Scheme
[D] 1 & 2

Answer: 1 & 2

2. Which of the following is used to denote broad money?

 [A] M1
[B] M2
[C] M3
[D] M4

Answer:M3

3. Which among the following is NOT a subsidiary of RBI?
 [A] National Housing Bank
 [B] NABARD
[C] Bharatiya Reserve Bank Note Mudran Private Limited
[D] SIDBI

Answer:SIDBI

4. Which among the following is a qualitative tool of monetary policy?

[A] Bank Rate
 [B] Credit Ceiling
 [C] Credit rationing
 [D] Cash Reserve Ratio

Answer:Credit rationing

5. Which among the following closest instrument to Gold ETF?

[A] Debenture
[B] G-Sec security
[C] Mutual Fund
[D] Commercial Paper

Answer:Mutual Fund 

6. Which among the following is NOT a pillar of Basel III?

[A] Minimum capital standards
[B] Supervisory review
[C] Market discipline
[D] Consolidation of assets

Answer:Consolidation of assets

7. What term is used for maximum capital which the company can raise in its life time?

[A] Authorized Capital
[B] Registered Capital
[C] Nominal Cap
[D] All of them

Answer: All of them

8. 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]Allahabad bank

Answer:Punjab National Bank 

9. Inflation Indexed Bonds is pegged to ___?

[A] WPI
[B] CPI
[C] Both WPI and CPI
[D] None of the above

Answer: WPI 

10. Which of the following best defines a floating-rate bond?
 [A] A bond with a fixed interest rate and has better yield than varying interest rate bond
[B] A bond with a fixed interest rate and has lower yield than varying interest rate bond
[C] A bond with a varying interest rate and has better yield than fixed interest rate bond
[D] A bond with a varying interest rate and has lower yield than fixed interest rate bond

Answer: A bond with a fixed interest rate and has lower yield than varying interest rate bond

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