INDIAN ECONOMY TEST PAPER
1. India is regarded as a country of 'Demographic Dividend'. This is due to
a) its high population in the age group below 15 years
b) its high population in the age group of 15-64 years
c) its high population in the age group above 65 years
d) its high total population
2. A country's natural capital includes all of the following except
a) forest
b) water
c) roads
d) minerals
3. What percentage of the total population of the world resides in India, as estimated in 2011?
a) 15 b) 17.5 c) 20 d) 22.5
4. Which of the following is used for the measurement of distribution of income?
a) Laffer Curve
b) Engel's Law
c) Gini Lorenz Curve
d) Phillip Curve
5. During which decade did the population record a negative growth rate in India?
a) 1921-31
b) 1911-1921
c) 1941-51
d) 1931-1941
6. Mixed economy means an economy where
a) both agriculture and industry are equally promoted by the state
b) there is co-existence of private sector along with the public sector
c) there is importance of small scale industries along with heavy industries
d) economy is controlled by military as well as civilian rulers
7. Consider the following specific stages of demographic transition associated with economic development
1. Low birth rate with low death rate
2. High birth rate with high death rate
3. High birth rate with low death rate
Select the correct order of the above stages using the codes given below
a) 1, 2, 3
b) 2, 1, 3
c) 2, 3, 1
d) 3, 2, 1
8. Consider the following
1. Hotels and restaurants
2. Motor transport undertakings
3. Newspaper establishments
4. Private medical institutions
The employees of which of the above can have the 'Social Security coverage under Employees' State Insurance Scheme?
a) 1, 2, 3 and 4
b) 1, 2 and 3
c) 2 and 3
d) 3 and 4
9. With reference to the Finance Commission of India, which of the following statements is correct?
a) It encourages the inflow of foreign capital for infrastructure development
b) It facilitates the proper distribution of finance among the public sector undertakings
c) It ensures transparency in financial administration
d) None of the above
10. Which one of the following companies launched the e-choupal to bring inclusive market in India?
a) RIL
b) Tata
c) ITC
d) Birla Groups
11. Which one of the following institutions prepares the National Income Estimates in India?
a) Planning Commission
b) Reserve Bank of India
c) Central Statistical Organization
d) Indian Statistics Institute
12. Consider the following statements
The most effective contribution made by Dadabhai Naoroji to the cause of Indian National Movement was that he
1. exposed the economic exploitation of India by the British
2. interpreted the ancient Indian texts are restored the self-confidence of Indians
3. stressed the need for eradication of all the social evils before anything else.
Which of the statements given above is/are correct?
a) 1, 2 and 3
b) 1 and 3
c) 1 and 3
d) Only 1
13. In which of the following types of the economy are the factors of production owned individually?
a) Socialist
b) Capitalist
c) Mixed
d) Both 'a' and 'b'
14. Which one of the following is correct about the Laffer Curve?
a) It is the relationship between the unemployment and growth rate of GDP of a country
b) It is the relationship between the inflation and the trend of changes in labour pattern
c) It is the relationship between government revenue raised by taxation and all possible rates of taxation
d) None of the above
15. Who was the Chairman of the 13th Finance Commission of India?
a) Indira Rajaraman
b) C. Rangarajan
c) Vijay Kelkar
d) None of the above
16. With what purpose is the Government of India promoting the concept of 'Mega Food Park'?
1. To provide good infrastructure facilities for the food processing industry.
2. To increase the processing of perishable items and reduce wastage.
3. To provide emerging and eco-friendly food processing technologies to entrepreneurs.
Which of the statements given above is/are correct?
a) 1, 2 and 3
b) 1 and 3
c) 2 and 3
d) Only 1
17. Consider the following statements
1. NTPC is the largest power utility in India
2. ONGC accounts for half of the LPG production in India
3. IOC operates all the refineries in India
4. The India Ordinance Factory is the largest departmentally run industrial undertaking in the country.
Which of the statements given above is/are correct?
a) 1, 2, 3 and 4
b) 1, 2 and 3
c) 2 and 3
d) 1 and 4
18. Which one of the following ports of India is the Open Sea Port?
a) Haldia
b) Mumbai
c) Chennai
d) Vishakhapatnam
19. Which one of the following is the best source of generating electricity in India from the view point of sustainable development?
a) Coal
b) Mineral oil and gas
c) Hydro-electricity
d) Atomic energy
20. Which one of the following is not an important industry of Chhattisgarh from the point of view of production?
a) Iron and Steel
b) Cement
c) Chemical
d) Aluminium
21. Which one of the following maintains the Rural Infrastructure Development Fund established in 1995-96?
a) Reserve Bank of India
b) State Bank of India
c) Regional Rural Banks
d) National Bank for Agriculture and Rural Development
22. Bhilai Steel Plant is
a) Private Sector Enterprise
b) Public Sector Enterprise
c) Cooperative Sector Enterprise
d) Public Private Joint Venture Enterprise
23. Which of the following is not a harbour?
a) Kandla
b) Cochin
c) Mangalore
d) Bengaluru
24. Where was the electricity supply first introduced in India?
a) Kolkata
b) Chennai
c) Mumbai
d) Darjeeling
25. Which one of the following is related with Bharat Nirman Scheme?
a) Foodgrain production self sufficiency
b) Family welfare programme
c) Infrastructure development
d) Employment generation programme
26. Which king of the power accounts for the largest share of power generation in India?
a) Nuclear
b) Hydro-electricity
c) Thermal
d) Solar
27. Consider the following components
1. Bring an additional one crore hectares under assured irrigation
2. To provide road connectivity to all villages that has a population of 2000.
3. To give telephone connectivity to the remaining villages.
Which of the components given above is/are included in the Bharat Nirman Scheme?
a) 1, 2 and 3
b) 1 and 3
c) 2 and 3
d) Only 2
28. Which one of the following is not a nuclear power centre?
a) Narora
b) Kakrapara
c) Chamera
d) Kota
29. Among other things, which one of the following was the purpose for which Deepak Parekh Committee was constituted?
a) To study the current socio-economic conditions of certain minority communities
b) To suggest measures for financing the development of infrastructure
c) To frame a policy on the genetically modified organisms
d) To sugges6t measures to reduce the fiscal deficit in the Union budget.
30. With reference to India, which one of the following statements is not correct?
a) IPCL is the largest Indian petrochemical company
b) Reliance is the largest private sector company in India
c) MTNL is listed to NYSE
d) BSNL is the first telecom service organization in India to launch a nationwide cellular service at once.
31. In the context of India's Five year Plans. A shift in pattern of Industrialization with lower emphasis of the heavy industry and move on infrastructure begins in
a) Fourth Plan b) Sixth Plan c) Eight Plan d) Tenth Plan
32. In the post independence period, economic reform were first introduced in India under
a) Janata Party Government (19770
b) Indira Gandhi Government (1980)
c) Rajiv Gandhi Government (1985)
d) PV Narsimha Rao Government (1990)
33. Five Year Plan had an objective of 'Rapid industrialization with particular emphasis on development of basic and heavy industries?
a) First
b) Second
c) Third
d) Fourth
34. Under which plan did the government introduce an agricultural strategy which gave rise to green revolution in India?
a) Second Five Year Plan
b) Third Five Year Plan
c) Fourth Five Year Plan
d) Sixth Five Year Plan
35. In India, the concept of 'minimum needs' and directed anti-poverty programmes were the innovation of
a) Fourth Five Year Plan
b) Fifth Five Year Plan
c) Sixth Five Year Plan
d) Seventh Five Year Plan
36. The Rolling Plan concept in Nation Planning was introduced by
a) Indira Gandhi Government
b) The National Front Government
c) The Janata Party Government
d) Rajiv Gandhi Government
37. Which one of the following is not within the duties of the Planning Commission?
a) To define the stage of growth and suggest allocation of resources
b) To make an assessment of the material, capital and human resource of the country
c) To determine the nature of machinery required for the implementation of plan proposal
d) To prepare the annual central budget
38. Inclusive growth as enunciated in the Eleventh Five Year Plan does not include which one of the following?
a) Reduction of poverty
b) Extension of employment opportunities
c) Reduction of gender inequality
d) Strengthening of capital market
39. Which one of the following can aid in furthering the Government's objective of inclusive growth?
1. Promoting self-help group.
2. Promoting micro, small and medium enterprises
3. Implementing the rights to educaton
Select the correct answer using the codes given below
a) 1, 2 and 3
b) 1 and 3
c) 1 and 2
d) Only 2
40. During which Five Year Plan was the emergency clamped, new election took place and Janata Party was elected?
a) Third plan
b) Fourth plan
c) Fifth plan
d) Sixth plan
41. Who presides over the National Development Council of India?
a) Deputy Chairman of the Planning Commission of India
b) Prime Minister of India
c) Finance Minister of India
d) Vice President of India
42. Which one of the following has the final authority in India to approve Five Year Plan?
a) Union Council of Ministers
b) Planning Commission
c) National Development Council
d) Prime Minister
43. Consider the following statements Indian Planning
1. Second Five Year Plan emphasis on the establishment of heavy industries
2. The Third Five Year Plan introduced the concept of import substitution as a strategy for industrialization
Which of the statements given above is/are correct?
a) Only 1
b) Only 2
c) Both 1 and 2
d) Neither 1 nor 2
44. Which one of the following is the theme of the approach paper of the Eleventh Five Year Plan?
a) Indicative planning
b) Growth with social justice
c) Towards faster and more inclusive growth
d) Planning for the prosperity
45. The Bombay Plan drafted by GD Birla and JRD Tata emphasized on
a) that the economy should be left to the dynamic investment by the private sector in heavy industries
b) the public sector investments in infrastructure and heavy industries
c) annual planning
d) that the private sector should foot the bill of intensive and low return investments in the heavy industries.
46. Which one among the following statements regarding the Eight Five statements regarding the Eight Five Year Plan in India is not correct?
a) The plan was postponed by two years because of the political upheavals at the centre
b) It aimed at the high growth of both agriculture and manufacturing sectors
c) Its emphasis was on growth in export and import, improvement in the trade and current account deficit
d) It set before itself two principal objectives of 'growth with stability' and 'growth with justice'.
47. Planning in India drew on
a) the new economic programme of Lenin
b) the Fabian Socialism of Sidney and Beatrice Web
c) the British Welfare mechanism
d) new democratic development packages
48. Which one of the following was the first Chairman of Planning Commission of India?
a) Dr. Rajendra Prasad
b) Pt. Jawaharlal Nehru
c) Sardar Vallabhbhai Patel
d) JB Kriplani
49. Which one among the following statements about the Globalization is not correct?
a) Advocates of the globalization argue that it will result in greater economic growth
b) Critics of the globalization argue that it will result in greater economic disparity
c) Advocates of the globalization argue that it will result in culture homogenization
d) Critics of the globalization argue that it will result in culture homogenization
50. The basic aim of Lead Bank Scheme is that
a) big banks should try to open offices in each district
b) there should be stiff competition among the various nationaliz4ed banks
c) individual banks should adopt particular districts for intensive development
d) all the banks should make intensive efforts to mobilize deposits
ANSWER SHEET OF INDIAN ECONOMY TEST PAPER
1.b 2.c 3.b 4.c 5.b
6.b 7.c 8.a 9.d 10.c
11.c 12.d 13.b 14.c 15.c
16.a 17.d 18.a 19.c 20.c
21.d 22.b 23.d 24.d 25.c
26.c 27.b 28.c 29.b 30.a
31.b 32.d 33.b 34.b 35.b
36.c 37.c 38.d 39.a 40.c
41.b 42.c 43.c 44.c 45.b
46.b 47.a 48.b 49.d 50.c
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