Indian Economy GK Questions and Answers

Indian Economy MCQ Quiz – Objective General Knowledge Question with Answer

Latest Indian Economy MCQs Objective Questions

Q1. Who among these presented the first (interim) budget for independent India?

[A] Manmohan Singh
[B]  K Shanmukham Chetty
[C] N.D. Tiwari
[D] Jawaharlal Nehru

Answer: [B]  K Shanmukham Chetty

Q2. Which of the following banks assists and coordinates the sale of State Development Loans (SDLs) in India?


Answer: [A] RBI

Q3. India switched to the decimal system of coinage

[A] April 1942
[B] April 1946
[C] April 1952
[D] April 1957

Answer: [D] April 1957

Q4. Producing a good predominantly through a natural process is an activity –

[A] Technology Sector
[B] Tertiary Sector
[C] Primary Sector
[D] Secondary Sector

Answer: [C] Primary Sector

Q5. What is the main theme of Prime Minister Awas Yojna?

[A] Housing to All by 2020
[B] Housing to All by 2021
[C] Housing to All by 2022
[D] Housing to All by 2024

Answer: [C] Housing to All by 2022

Q6. The relationship between interest rate and consumption level was first estimated by –

[A] Milton Freedman
[B] Irwing Fischer
[C] Amartya Sen
[D] James Duezan Berry

Answer: [A] Milton Freedman

Q7. Which of the following is a term lending institution?

[A] Exim bank
[D] None of these

Answer: [C] IFCI

Q8. Who is the Indian Union Budget presented to and in which House/s of Parliament?

[A] Prime Minister of India – Rajya Sabha
[B] Finance Minister of India – Lok Sabha
[C] Cabinet Secretary – Both Lok Sabha and Rajya Sabha
[D] President of India – in joint session of Parliament

Answer: [B] Finance Minister of India – Lok Sabha

Q9. What is a Mutual Fund?

[A] A fund established by the Union Government
[B] A fund that raises money from a group of investors
[C] A fund provided by global financial institutions
[D] None of these

Answer: [B] A fund that raises money from a group of investors

Q10. Amartya Sen was awarded the Nobel Prize for his contribution to:

[A] Econometrics
[B] Monetary Economics
[C] Development Economics
[D] Welfare Economics

Answer: [D] Welfare Economics

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