Indian Economy - MCQ Important Questions and Answers

1. Three Annual Plans were launched in the years
A. 1966–1969
B. 1957–1960
C. 1961–1964
D. 1947–1950

Answer: 1966–1969

2. The slogan Garibi Hatao was included in
A. 1st plan
B. 4th plan
C. 5th plan
D. 7th plan

Answer: 5th plan

3. Which institution is known as Soft loan window of World Bank?
C. Indian Development Forum

Answer: IDA

4. Regional Rural Banks were established in
A. 1897
B. 1975
C. 1965
D. 1975

Answer: 1975

5. The Headquarter of RBI is in
A. Delhi
B. Nasik
C. Mumbai
D. Kanpur

Answer: Mumbai

6. The currency notes are printed in
A. Hyderabad
B. Nasik
C. New Delhi
D. Nellai

Answer: Nasik at Maharashtra

7. The mineral in which India depends largely on imports is
A. Iron Ore
B. Bauxite
C. Mica
D. Mercury

Answer: Mercury

8. National Income estimates in India is prepared by
B. C.S.O.
C. Finance Ministry
D. Planning Commission

Answer: C.S.O.

9. Which crop is sown on the largest area in India?
A. Maize
B. Wheat
C. Sugarcane
D. Rice

Answer: Rice

10. Dalal street is situated at
A. Paris
B. Mumbai
C. London
D. New Delhi

Answer: Mumbai

11. The former name of State Bank of India was
A. Central Bank of India
B. United Bank of India
C. People’s Bank of India
D. Imperial Bank of India

Answer: Imperial Bank of India

12. The value of Gold is determined in
A. London
B. Rome
C. Manila
D. Berlin

Answer: London

13. Which of the following cash crops is not grown in Kerala?
A. Rubber
B. Spices
C. Tobacco
D. Coffee

Answer: Tobacco

14. The New Symbol of Indian Rupee is a blend of
A. Devanagiri Ra
B. Roman R
C. Devanagiri Ra and Roman
D. None of these

Answer: Devanagiri Ra and Roman

15. Which Indian got Nobel Prize for Economics?

A. Khorana
C. Teressa
D. Amarthiya Sen

Answer: Amarthiya Sen

16. Diamond cutting is undertaken as a cottage industry in
A. Tamil Nadu
B. Gujarat
C. Andhra Pradesh
D. Karnataka

Answer: Gujarat

17. In India, barter exchange is still in practice in
A. Calcutta
B. Lucknow
C. Ahmedbad
D. Jabalpur

Answer: Calcutta

18. The planning Commission was reconstituted in
A. Octomber 1951
B. January 1948
C. March 1950
D. August 1949

Answer: March 1950

19. The state which has the highest sugarcane production in India is
A. Bihar
B. Uttar Pradesh
C. Maharashtra
D. Madhya Pradesh

Answer: Uttar Pradesh

20. The area under forest in India is
A. 0%
B. 15%
C. 20%
D. 23%

Answer:  23%

21. Which is the most important source of income for Government of India?
A. Interest
B. Licence fee
C. Income tax
D. Excise duty

Answer: Excise duty

22. The state which has the largest number of sugar mills in India is
A. Bihar
B. Haryana
C. Punjab
D. Uttar Pradesh

Answer: Uttar Pradesh

23. Finance Commission is constituted every
A. Two years
B. Four years
C. Five years
D. Six years

Answer: five years

24. India earns maximum foreign exchange by the export of
A. iron
B. Tea
C. Textile
D. Rubber

Answer: Tea

25. India’s foreign trade policy could be best described as
A. Free trade
B. Laizzez faire
C. Controlled free trade
D. None of these

Answer: Controlled free trade

26. The Aid India Club has been formed under the

Answer: IBRD

27. Corporate Tax is imposed by
A. State Government
B. Central Government
C. Local Government
D. Both A and B

Answer: Central Government

28. Which state has the highest Per Capita Income?
A. Maharashtra
B. Delhi
C. Punjab
D. Haryana

Answer: Punjab