Subjectwise MCQ
Statewise Prepration
Govt. Examwise MCQ
270 Economics MCQ Questions in english हिन्दी
. Which tax is levied on income?
Income Tax is a direct tax charged on personal or corporate income.
. The Consumer Price Index (CPI) measures:
CPI tracks changes in retail prices paid by consumers.
What is the full form of CRR?
CRR is the percentage of a bank’s total deposits kept with RBI in cash.
. Which body controls the monetary policy in India?
RBI controls money supply, interest rates, and inflation control tools.
PMAY (Pradhan Mantri Awas Yojana) aims to provide:
PMAY aims for “Housing for All” by 2022 (urban and rural).
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What is the main objective of Make in India?
Make in India promotes domestic manufacturing and foreign investment.
Who prepares the Union Budget in India?
The Finance Minister of India presents the annual Union Budget in Parliament.
What is disinvestment?
Disinvestment is when the government sells or reduces its stake in public sector undertakings (PSUs).
NABARD is related to:
NABARD (1982) finances rural and agricultural development.
When was GST implemented in India?
GST was launched on 1 July 2017 as a unified tax system across India.
Which is the largest public sector bank in India?
State Bank of India is the largest public sector bank by assets and branches.
India is the largest producer of:
India leads globally in milk production, thanks to White Revolution.
Unemployment caused by a mismatch of skills is called:
Structural unemployment happens when worker skills don’t match job demands.
. What is a 'black economy'?
Black money is income not reported to tax authorities, often from illegal means.
. The Planning Commission was replaced by:
NITI Aayog was formed in 2015 as a policy think-tank replacing Planning Commission.
What does "repo rate" mean?
When RBI lends money to commercial banks, it charges the repo rate.
In which sector does agriculture belong?
The primary sector includes farming, fishing, mining — natural resources.
What is the minimum support price (MSP)?
MSP is the price at which government buys crops from farmers to protect them from loss.
What is fiscal deficit?
Fiscal deficit occurs when government spending exceeds its income.
The Finance Commission is constituted every:
Article 280 of the Constitution provides for the Finance Commission every 5 years.
Which was the first Five-Year Plan year in India?
Launched in 1951 under Jawaharlal Nehru, focused on agriculture & irrigation.
The concept of Five-Year Plan was borrowed from:
India adopted the idea of planned economic development from the Soviet Union.
. Which tax is considered an indirect tax?
GST is an indirect tax levied on goods and services, paid by consumers.
Which body issues currency notes in India?
The RBI issues all notes except ₹1, which is issued by the Government of India.
What does inflation mean?
Inflation is the sustained increase in the general price level of goods and services.
What is GDP?
GDP is the total value of goods and services produced in a country in one year.
Who is regarded as the Father of Economics?
Adam Smith wrote "The Wealth of Nations" and is known as the founder of modern economics.
MP is a leading contributor to India's ____________ export.
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