Part 1 – General Studies: Economy of India

Question | Correct Answer |
---|---|
Which city is known as the financial capital of India? | Mumbai |
What does the term ‘NITI Aayog’ stand for? | National Institution for Transforming India |
What is the main objective of the Pradhan Mantri Jan Dhan Yojana? | Financial inclusion |
Which sector contributes the most to India’s GDP? | Services |
What is the main purpose of the Reserve Bank of India? | Monetary policy and banking regulation |
What does the term ‘MUDRA’ stand for in the Indian financial sector? | Micro Units Development and Refinance Agency |
What is the primary commodity traded on the Multi Commodity Exchange of India? | Commodities |
Which Indian state is the largest producer of cotton? | Gujarat |
What is the main objective of the Goods and Services Tax (GST) in India? | Simplifying the tax structure |
What is the primary focus of the Digital India campaign? | Enhancing digital infrastructure |
Which is the apex bank responsible for rural credit in India? | NABARD |
What does the term ‘MSME’ stand for? | Micro, Small and Medium Enterprises |
What is the main purpose of the Insolvency and Bankruptcy Code, 2016 in India? | Resolving insolvency |
Which Indian state is known for its significant IT industry? | Karnataka |
What is the primary objective of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)? | Direct income support to farmers |
What does the term ‘SEZ’ stand for in the context of the Indian economy? | Special Economic Zone |
Which is the largest public sector bank in India? | State Bank of India |
What is the main aim of the Pradhan Mantri Mudra Yojana? | Financing small businesses |
What is the primary focus of the Start-up India initiative? | Supporting entrepreneurship |
What does the term ‘CPI’ stand for in the Indian economy? | Consumer Price Index |
Choose the correct answer
Question 1: Which city is known as the financial capital of India?
Option 1: New Delhi
Option 2: Bangalore
Option 3: Mumbai
Option 4: Kolkata
Correct Answer: Mumbai
Question 2: What does the term ‘NITI Aayog’ stand for?
Option 1: National Institution for Transforming India
Option 2: National Investment and Trade Initiative
Option 3: National Information Technology Agency
Option 4: National Institute of Traditional Industries
Correct Answer: National Institution for Transforming India
Question 3: What is the main objective of the Pradhan Mantri Jan Dhan Yojana?
Option 1: Promoting digital transactions
Option 2: Providing insurance
Option 3: Financial inclusion
Option 4: Subsidizing agricultural loans
Correct Answer: Financial inclusion
Question 4: Which sector contributes the most to India’s GDP?
Option 1: Agriculture
Option 2: Services
Option 3: Manufacturing
Option 4: Construction
Correct Answer: Services
Question 5: What is the main purpose of the Reserve Bank of India?
Option 1: Regulating the stock market
Option 2: Promoting foreign trade
Option 3: Monetary policy and banking regulation
Option 4: Managing government debt
Correct Answer: Monetary policy and banking regulation
Question 6: What does the term ‘MUDRA’ stand for in the Indian financial sector?
Option 1: Micro Units Development and Refinance Agency
Option 2: Money Utilization and Development for Rural Areas
Option 3: Market Upgradation and Development Regulatory Authority
Option 4: Micro Urban Development and Reinvestment Association
Correct Answer: Micro Units Development and Refinance Agency
Question 7: What is the primary commodity traded on the Multi Commodity Exchange of India?
Option 1: Stocks
Option 2: Bonds
Option 3: Commodities
Option 4: Currencies
Correct Answer: Commodities
Question 8: Which Indian state is the largest producer of cotton?
Option 1: Punjab
Option 2: Gujarat
Option 3: Maharashtra
Option 4: West Bengal
Correct Answer: Gujarat
Question 9: What is the main objective of the Goods and Services Tax (GST) in India?
Option 1: Increasing export
Option 2: Reducing fiscal deficit
Option 3: Simplifying the tax structure
Option 4: Promoting small industries
Correct Answer: Simplifying the tax structure
Question 10: What is the primary focus of the Digital India campaign?
Option 1: Promoting online education
Option 2: Enhancing digital infrastructure
Option 3: Encouraging digital payments
Option 4: Boosting IT exports
Correct Answer: Enhancing digital infrastructure
Question 11: Which is the apex bank responsible for rural credit in India?
Option 1: RBI
Option 2: NABARD
Option 3: SBI
Option 4: ICICI
Correct Answer: NABARD
Question 12: What does the term ‘MSME’ stand for?
Option 1: Medium and Small Market Enterprises
Option 2: Micro, Small and Medium Enterprises
Option 3: Major Sector Market Entities
Option 4: Medium Scale Manufacturing Entities
Correct Answer: Micro, Small and Medium Enterprises
Question 13: What is the main purpose of the Insolvency and Bankruptcy Code, 2016 in India?
Option 1: Promoting foreign investment
Option 2: Resolving insolvency
Option 3: Encouraging entrepreneurship
Option 4: Regulating stock markets
Correct Answer: Resolving insolvency
Question 14: Which Indian state is known for its significant IT industry?
Option 1: Kerala
Option 2: Karnataka
Option 3: Tamil Nadu
Option 4: Andhra Pradesh
Correct Answer: Karnataka
Question 15: What is the primary objective of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)?
Option 1: Providing pension to farmers
Option 2: Subsidizing farm equipment
Option 3: Direct income support to farmers
Option 4: Promoting organic farming
Correct Answer: Direct income support to farmers
Question 16: What does the term ‘SEZ’ stand for in the context of the Indian economy?
Option 1: Special Economic Zone
Option 2: State Economic Zone
Option 3: Sectoral Economic Zone
Option 4: Sustainable Economic Zone
Correct Answer: Special Economic Zone
Question 17: Which is the largest public sector bank in India?
Option 1: HDFC Bank
Option 2: ICICI Bank
Option 3: State Bank of India
Option 4: Punjab National Bank
Correct Answer: State Bank of India
Question 18: What is the main aim of the Pradhan Mantri Mudra Yojana?
Option 1: Providing affordable housing
Option 2: Promoting women entrepreneurs
Option 3: Financing small businesses
Option 4: Encouraging foreign investment
Correct Answer: Financing small businesses
Question 19: What is the primary focus of the Start-up India initiative?
Option 1: Promoting foreign startups
Option 2: Boosting large industries
Option 3: Supporting entrepreneurship
Option 4: Encouraging import substitution
Correct Answer: Supporting entrepreneurship
Question 20: What does the term ‘CPI’ stand for in the Indian economy?
Option 1: Consumer Price Index
Option 2: Central Profit Indicator
Option 3: Corporate Performance Index
Option 4: Consumer Product Innovation
Correct Answer: Consumer Price Index
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