Indian Economy

Test Your Knowledge on the Indian Economy!

Welcome to the Indian Economy Quiz! This quiz is designed to test your knowledge on various aspects of the Indian economy, including its history, policies, and recent developments. Are you ready to dive into the world of economic planning and reforms?

Check out what you will explore:

Five-Year Plans and their impact
Current economic policies and strategies
Understanding of key economic indicators

17 Questions4 MinutesCreated by AnalyzingEconomy2023

Which of the following statements is/are correct? 1. Ease of doing business was an index published by the World Bank. 2. Indicators in Ease of doing business included construction permits, registration, getting credit, tax payment mechanism etc. Select the correct answer using the code given below:

1 only

2 only

Both 1 and 2

Neither 1 nor 2

Which of the following plan is associated with P C Mahalanobis?

First five-year plan

Second five-year plan

Sixth five-year plan

Ninth five-year plan

The Gadgil Strategy is associated with which of the following plan?

First five-year plan

Fourth five-year plan

Sixth five-year plan

Eighth five-year plan

With reference to the rolling plan, which of the following statements is/are correct? 1. It was introduced by Indira Gandhi. 2. The rolling plan rejected the sixth five-year Plan of the preceding Janata government. Select the correct answer using the codes given below:

1 only

2 only

Both 1 and 2

Neither 1 nor 2

�Washington Consensus” is related to which of the following?

Economic reforms

Bilateral trade

Balance of payments measures

Tax decentralization

What does Phillips Curve indicate?

Inverse relationship between inflation and unemployment

Income inequality

Relationship between tax rates and the amount of tax revenue

Impossible trilemma of exchange rate, capital flow and autonomous monetary policy

Consider the following statements regarding the Priority Sector Lending (PSL) norms of RBI: 1. The small finance banks are required to extend 75 percent of their Adjusted Net Bank Credit (ANBC) to priority sector. 2. The Housing and Renewable Energy sectors are included in the Priority Sector under PSL norms. Which of the statements given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

What is the mandate of the recently constituted Rajiv Mehrishi committee?

Economic impact of interest waivers under COVID-19 related loan moratorium

Assess the adequate size of capital reserves that the RBI should hold

Financial parameters for restructuring of loans impacted by the COVID-19 pandemic

Constitution of the Public Debt Management Agency

India’s Forex Reserve comprises of which of the following assets? 1. Foreign Currency Assets 2. Gold 3. Special Drawing Rights (SDRs) Select the correct answer using the code given below:

1 and 2 only

2 and 3 only

1 and 3 only

All of the above

Recently the Reserve Bank of India (RBI) has decided to change its accounting year from July-June to April- May on whom recommendations?

Urjit Patel

Ramesh Chand

Bimal Jalan

Shaktikant Das

Consider the following statements regarding the Consumer Price Index for Industrial Workers (CPI-IW): It is compiled by the Labour Bureau. The base year for the CPI-IW has been updated to the year 2016. Which of the statements given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

Which of the following experienced the fastest expansion during the plan period in India?

Services

Industry

Agriculture

None of the Above

Mixed economy means an economy where

Both agriculture and industry are equally promoted by the state

There is co-existence of public sector along with private sector

There is importance of small scale industries along with heavy industries

Economy is controlled by military as well as civilian rulers

Which of the following could be said to have prevented the ‘trickle down’ effects in Indian economy ? 1. Increased dependence of agriculture on purchased inputs and privately managed irrigation 2. More employment of labour by larger landholding farmers 3. Lowered participation of women in agricultural workforce due to new technology 4. The failure of the Green Revolution

1 and 2

2 and 3

1 and 3

2 and 4

In the context of India’ s Five Year Plans, a shift in the pattern of industrialization, with lower emphasis on heavy industries and more on infrastructure begins in

Fourth Plan

Sixth Plan

Eighth Plan

Tenth Plan

Persons below the poverty line in India are classified as such based on whether:

They are entitled to a minimum prescribed food basket

They get work for a prescribed minimum number of days in a year

They belong to agricultural labourer household and the scheduled caste/tribe social group

Their daily wages fall below the prescribed minimum wages

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