There isn’t any doubt that Economics is the most important section of General Awareness/ Knowledge subject for the candidates preparing for banking exams like IBPS Clerk/ PO, SBI Clerk/ PO, etc. Apart from the banking sector exams, at least a few Indian Economics questions are also asked in other competition exams as well such as SSC CGL/ CHSL, UPSC. The best way to score a good score in this section is to go through as many Economics Questions and answers as well.
In this post, you will find the latest and some of the most important Economics questions for various competition exams. We request you to bookmark this page and visit regularly because we keep updating questions from time to time. If you have any doubt, questions or suggestions then please feel free to post it in the comment section below.
Economics GK Questions & Answers
1) Which among the following is terms is commonly not associated with Budgets in India?
(A) Outcome Budget
(B) Gender Budget
(C) Austerity Budget
Answer: C (Austerity Budget)
2) Which among the following does not come under Corporate Governance?
(A) Management of rights of shareholders
(C) Ethical Business Conduct
(D) Profits Maximization
Answer: D (Profits Maximization)
3) Which among the following is the largest export market for India, for its marine products?
Answer: B (EU)
4) Which among the following is the main difference between the Intensive Agriculture Development program (IADP) & Community Development Programme (CDP)?
(A) The basic unit of the CDP was a village, the basic unit of IADP was a Taluka
(B) The CDP was a general development programme, IADP was a sectoral development plan
(C) CDP envisaged no loans and financial assistance, IADP had a package for financial assistance
(D) CDP was based upon area approach, IADP was based upon service approach
Answer: B (The CDP was a general development programme, IADP was a sectoral development plan)
5) Microcredit or microfinance is a novel approach to banking with the poor through Self Help Groups or SHGs. However, the Microfinance Institutions or MFI’s have now replaced the SHGs with JLGs. What does the JLG most commonly stands for?
(A) Joint Local Groups
(B) Joint Liability Groups
(C) Joint Lending Groups
(D) Joint Lenders Groups
Answer: B (Joint Liability Groups)
6) Which among the following was the main objective of the Fiscal Responsibility and Budget Management Act, 2003?
(A) Achieve Fiscal Surplus
(B) Eliminate Revenue deficit
(C) Eliminate Fiscal Deficit
(D) Stop Money Laundering
Answer: B (Eliminate Revenue deficit)
7) Which among the following body regulates Mutual Funds in India?
Answer: B (SEBI)
8) National Optical Fiber Network will be providing broadband connectivity to which among the following?
(B) Gram Panchayats
(C) Panchayat Samitis
Answer: B (Gram Panchayats)
9) If a bank launched a “CASA campaign”, which among the following would be the most probable objective of such campaign?
(A) To bring down Non-performing Assets (NPA)
(B) To develop better customer relations
(C) To bring in more new customers
(D) To provide no frill services
Answer: C (To bring in more new customers)
10) In which year, the restructured Twenty Point Programme (TPP) became effective?
Answer: C (2007)