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Economics CSEET MCQs - Important

1. Which among the following sponsors Regional Rural Banks(RRBs)?

National Commercial Banks

Private banks

Reserve Bank of India

Co-operative Banks

Answer: A

Explanation:

Regional Rural Banks are formed under RRB act. RRBS can be sponsored by commercial banks ,PSU ,private sector banks with share capital participation by central and state govts

2. Who is the custodian of Contingency Fund of India?

President

The Finance Minister

The Prime minister or Chief ministers

Judge of Supreme Court or HC judges

Answer: A

Explanation:

The Contingency Fund of India established under Article 267 (1) of the Constitution is in the nature of an imprest (money maintained for a specific purpose) which is placed at the disposal of the President to enable him/her to make advances to meet urgent unforeseen expenditure, pending authorization by the Parliament.

3. What is perfectly inelastic demand?

Demand doesn’t change with price

Demand change with supply

Change in demand is equal to price and supply

Demand changes infinitely

Answer: A

Explanation:

Price elasticity = 0, Perfectly inelastic- Demand does not change as price changes

Price elasticity < 1, less than unit elastic- % change in demand is less than that in price

Price elasticity = 1, Unit elastic – % change in demand is equal that in price

Price elasticity > 1, more than unit elastic – % change in demand is more than that in price

Price elasticity = ∞ , Perfectly elastic Demand changes infinitely

4. Which of the following industry is not a Maharatna?

IOCL

GAIL

CIL

RINL

Answer: D

Explanation:

Presently there are seven ‘Maharatna’ CPSEs, viz. (i) Bharat Heavy Electricals Limited, (ii) Coal India Limited, (iii) GAIL (India) Limited, (iv) Indian Oil Corporation Limited, (v) NTPC Limited, (vi) Oil & Natural Gas Corporation Limited and (vii)Steel Authority of India Limited.

RINL is a navratna.

5. What is India’s Population growth rate?

1.13%

1.3%

2.4%

5.1%

Answer: A <1.13%>

Explanation:

Its population growth rate is 1.13%, ranking 112th in the world in 2017. India has more than 50% of its population below the age of 25 and more than 65% below the age of 35. India ranks number 2 in the list of countries by population.

6. When was the 2nd Rolling plan introduced?

1975-76

1978-79

1980-81

1984-85

Answer: B <1978-79>

Explanation:

After Morarji Desai came to power he started with an annual plan for 1978-79 and as a continuation of the terminated fifth-five year plan.

7. Which state is the largest producer of COCOA in India?

Karnataka

Kerala

Maharashta

ANDHRA

Answer: B

Explanation:

Kerala is the largest producer of cocoa in India.It produces about 39% of cocoa produced in India.

8. Which is the largest producer of Coconut in the country?

Karnataka

Andhra Pradesh

Kerala

Tamil Nadu

Answer: C

Explanation:

Kerala is the leading producer of coconut in the country. The coconut has multiple uses. All parts of coconut can be used for various purposes from medicinal to cooking.

9. When was the operation flood started in India?

1980

1970

1967

1999

Answer: B <1970>

Explanation:

Operation Flood was started by the Indian government in the year 1970 and was aimed to create a nationwide milk grid. It was a rural development program initiated by NDDB – National Dairy Development Board of India.

10. How many National Investment Manufacturing zones have been granted till now?

12

14

16

18

Answer: B <14>

Explanation:

National Investment and Manufacturing Zones (NIMZs) are an important part of the Manufacturing Policy. The zones are integrated industrial townships. Till now 14 NIMZs have been granted in-principle approval.

11. Which state is the largest e-waste producer in India?

Karnataka

Maharashtra

Tamil Nadu

Gujarat

Answer: B

Explanation:

Maharashtra is the largest e-waste Producer.It produces about 19.8% of e waste produced in India.Out of the produced amount, it recycles only about 47,810 tonnes per annum (TPA).

12. When was Modified Electronics Manufacturing Clusters (EMC 2.0) introduced?

2016

2017

2019

2021

Answer: C <2019>

Explanation:

The Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme was announced in 2019. It is in line with National Policy for Electronics (NPE), 2019 to make India a global hub for mobile and component manufacturing.

The scheme supports setting up of Electronics Manufacturing Clusters (EMCs).

13. What is the contribution of MSMEs to Indian exports?

25%

45%

34%

54%

Answer: B <45%>

Explanation:

MSME contributes around 45% of the overall exports from India. MSMEs promote inclusive growth by providing employment opportunities in rural areas especially to people belonging to weaker sections of the society.

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