50+ Indian Economy GK Questions & Answers- Indian Economy MCQ and Quiz

Economy is one of the most important factors on which a country runs. Questions on Indian Economy are often asked in different competitive exams in India. It is crucial to have good knowledge of Indian Economy if you are looking to clear exams like Banking, SSC, NABARD, LIC, etc. Usually, questions asked in the competitive exams are a bit different from the economy section that we read in newspapers and curriculum books. So, to score good marks in the competitive exam, it is important for you to go through as many Indian Economy Gk Questions and Answers as possible.

To help students prepare well for the exam, we are providing an Indian Economy GK Quiz 2021. All questions mentioned are very important and can be asked in various competitive examinations.

Indian Economy General Knowledge Questions 2021

Let’s go through some top GK questions and answers on Indian Economy.

  1. Which is the first state in India to launch a policy to establish Special Agriculture Zones (SAZs):

a Haryana

b Uttarakhand

c Uttar Pradesh

D Gujarat

Answer: B (Uttarakhand)

  1. TRAI is setup under which section of the Telecom Regulatory Authority of India Act, 1997?

a Section 1

b Section 2

c Section 3

d Section 4

Answer: C (Section 3)

  1. National Wind Resource Assessment Programme was launched in?

a 1985

b 1990

c 1989

d 1982

Answer: A (1985)

  1. Which is India’s highest commercial airport?

a Sheikh ul-Alam International Airport

b Kushok Bakula Rimpochee Airport

c Shimla Airport

d Jolly Grant Airport

Answer: B (Kushok Bakula Rimpochee Airport)

  1. What is India’s Rank in the World in terms of Fish Production?

a 1st

b 2nd

c 3rd

d 4th

Answer: B (2nd)

  1. In which year CERSAI(Central Registry of Securitization Asset Reconstruction and Security Interest) was established?

a 2010

b 2011

c 2012

d 2013

Answer: B (2011)

  1. Which among the following is a term lending institution?

a NABARD

b Exim bank

c IFCI

d None

Answer: C (IFCI)

  1. Which Institution floated rupee bonds for the first time in the international market?

a International finance insitution

b World bank

c IMF

d None

Answe: A (International Finance Instituition)

  1. Who protects the investors in a stock market?

a RBI

b SEBI

c Government of India

d Ministry of Finance

Answer: B (SEBI)

  1. Energy Efficiency Services Limited is under the ministry of?

a Ministry of Power

b Ministry of New and Renewable Energy

c Ministry of Petroleum and Natural Gas

d Ministry of Coal

Answer: D (Ministry of Power)

  1. Which country has the highest e-commerce growth rate?

a China

b India

c USA

d Brazil

Answer: B (India)

  1. What is the contribution of Gems and Jewellery sector of India to world’s consumption?

a 10%

b 16%

c 29%

d 34%

Answer: C (29%)

  1. In which year was the first consumer protection bill passed in India?

a 1981

b 1985

c 1986

d 1988

Answer: C (1986)

  1. What is India’s rank in steel production in the world?

a 1st

b 2nd

c 3rd

d 4th

Answer: B (2nd)

  1. Which company operates the largest gas pipeline in the country?

a IOCL

b ONGC

c GAIL

d Reliance petrochemical ltd.

Answer: C (GAIL)

  1. What is the share of petroleum sector in the FDI received from 2000-2020?

a 1.2%

b 1.6%

c 1.9%

d 2%

Answer: B (1.6%)

  1. Hoe many pharmaceutical generic brands are there in India?

a 40000

b 55000

c 60000

d None of the above

Answer: C (60000)

  1. How many mobile phones are targeted to be manufactured by 2025?

a 1 billion

b 2 billion

c 3 billion

d 1.5 billion

Answer: A (1 billion)

  1. During which year Gem and Jewellery Export Promotion Council was set up?

a 1956

b 1966

c 1976

d 1986

Answer: B (1966)

  1. What is the maximum loan given under PM Mudra Yojna?

a 10 Lakhs

b 15 Lakhs

c 20 Lakhs

d 50 Lakhs

Answer: A (10 lakhs)

  1. When did India become a permanent member of the Washington Accord?

a 2010

b 2014

c 2015

d 2018

Answer: B (2014)

  1. Which among the following is a private sector industry?

a TISCO

b IOCL

c HPCL

d RINL

Answer: A (TISCO)

  1. What is India’s contribution to the global meat production?

a 3%

b 5%

c 10%

d 12%

Answer: A (3%)

  1. Who is known as the mother of Broiler poultry farming?

a Jonathan gener

b Wilmer steel

c William Harbor

d William jones

Answer: B (Wilmer steel)

  1. Which of the following states has per hectare highest consumption of fertilizers in India?

a Punjab

b Gujarat

c West Bengal

d Bihar

Answer: A (Punjab)

  1. How many registered e-recyclers exist in India?

a 151

b 100

c 198

d 178

Answer: D (178)

  1. Which state has the highest dependence of Fuelwood on forests?

a Bihar

b Maharashtra

c Madhya Pradesh

d Jarkhand

Answer: B (Maharashtra)

  1. Which state has the highest number of buffalos in India?

a Uttar pradesh

b Punjab

c Madhya Pradesh

d Tamil Nadu

Answer: A (Uttar Pradesh)

  1. Which animal meat is known as white meat?

a Chicken

b Lamb

c Buffalo

d Cow

Answer: A (Chicken)

  1. What is India’s share in the global horticulture exports?

a 1%

b 2%

c 3%

d 4%

Answer: A (1%)

  1. Which Indian law bans the usage of GM seeds without approval?

a Environmental Protection Act, 1986

b Environmental Protection Act, 2000

c Seeds Act, 1966

d Seeds Rules, 1968

Answer: A (Environmental Protection Act, 1986)

  1. What is the total urea imports for India?

a 30 lakh metric tonnes

b 40 lakh metric tonnes

c 50 lakh metric tonnes

d 80 lakh metric tonnes

Answer: D (80 lakh metric tonnes)

  1. Genetic Engineering Appraisal Committee works under which ministry?

a Ministry of environment forst and climate change

b Ministry of Agriculture

c Ministry of Science and Technology

d Ministry of Rural developoment

Answer: A (Ministry of environment forst and climate change)

  1. What is the Horticulture premium in the PM Fasal Bima Yojna?

a 2%

b 4%

c 5%

d 6%

Answer: C (5%)

  1. Which of the following is the first stock exchange in Asia?

a New Delhi stock exchange

b Bombay stock exchange

c Amsterdam stock exchange

d Tokyo stock exchange

Answer: B (Bombay Stock Exchange)

  1. Which sector contributed the maximum to GDP at the time of Independence?

a Services

b Agriculture

c Manufacturing

d None of the above

Answer: B (Agriculture)

  1. Which sector contributed more to National Income?

a Organised

b Unorganised

c Public

d None of the above

Answer: B [Unorganised]

  1. Which of the following countries follow a mixed economic system?

a USA

b India

c South Korea

d None of the above

Answer: B (India)

  1. Which is India’s biggest nationalised enterprise today?

a Tata Consultancy

b Reliance Industries

c Indian Railways

d Coal India

Answer: C (Indian Railways)

  1. India’s first National Investment and Manufacturing Zone has been proposed to be set up in which state?

a Andhra Pradesh

b Gujarat

c Tamil Nadu

d Maharashtra

Answer: A (Andhra Pradesh)

  1. The term Financial Stability Board (FSB) is associated to which of the following organizations?

a BRICS

b G-20 Countries

c APEC

d SAARC

Answer: B (G-20 Countries)

  1. After which five year plan, ‘The Rolling plan’ was implemented?

a Third Plan

b Fifth plan

c Seventh plan

d Ninth Plan

Answer: B (Fifth Plan)

  1. Which Public Sector Giant issued world’s first Indian green masala bond?

a IOCL

b CIL

c ONGC

d NTPC

Answer: D (NTPC)

  1. Which of the following is not true of the Regional Rural Banks (RRBs)?

a State Governments are share-holders in RRB

b They are co-sponsored by RBI

c They provide direct loans to small and marginal farmers

d They also carry out other banking operations

Answer: B (They are co-sponsored by RBI)

  1. A company is termed as ‘sick’ when the accrued loss at the end of financial year results into erosion of ___ % of its net worth.

a 20%

b 50%

c 70%

d 90%

Answer: B (50%)

  1. Which among the following is not an internal factor for industrial sickness?

a Power shortage

b Wrong dividend policy

c Mismanagement

d None of the above

Answer: A (Power Shortage)

  1. which among the following is one of the disadvantages of WPI (Wholesale Price Index) in India?

a It is not available for individual commodities

b It is available only at constant prices

c Services sector does not get covered

d It is available only on monthly basis

Answer: C (Services sector does not get covered)

  1. which among the following factors does not figure in the 10- year Action Plan that was formulated under the National Population Policy, 2000?

a Free and compulsory elementary education

b Special reward for men who take on terminal family planning methods

c Greater participation of self-help group members

d None of these

Answer: B (Special reward for men who take on terminal family planning methods)

49.Who made the use of energy requirements (calorie) as a measure of poverty in India the first time?

a Amartya Sen

b T.N. Srinivasan

c Dandekar and Rath

d None of these

Answer: C (Dandekar and Rath)

  1. Who proposed the concept of ‘P index’ as a measure of income shortfall?

a P.S. Loganathan

b B.S. Minhas

c Amartya Sen

d None of these

Answer: C (Amartya Sen)

Also Check: Economics GK Questions & Answers

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