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Indian Economy MCQ for CSEET

1. Which round of discussion replaced the GATT by World Trade Organisation (WTO)?

(a) Doha round of discussion

(b) Geneva round of discussion

(c) Washington round of discussion

(d) Uruguay round of discussion

Ans d

2. Which of the following is not correct?

(a) The Headquarter of European Union is in Brussels.

(b) ASEAN was established in 1976

(c) The head quarter of SAARC is in Kathmandu

(d) NAFTA was established in 1992

Ans b

3. Which of the following country is not the permanent member of ASEAN?

(a) Indonesia

(b) Philippines

(c) Brunei

(d) China

Ans d

4. Where is the Headquarter of OPEC?

(a) Austria

(b) Tehran

(c) Vienna

(d) Brussels

Ans c

5. Which of the following statement is true?

(a) OPEC was established in 1969.

(b) The Headquarter of Asian Development Bank is in Malaysia.

(c) India is the founder member of ASEM.

(d) Brazil is the member of MERCOSUR.

Ans d

6. What is the export target of India’s new Foreign Trade Policy (2015-20)?

(a) $ 450 bn

(b) $ 800 bn

(c) $ 900 bn

(d) $ 325 bn

Ans c

7. Where will be the Headquarter of the BRICS Bank?

(a) New Delhi

(b) Rio de janeiro

(c) Pretoria

(d) Shanghai

Ans d

8. TRIFED was developed for the:

(a) The development of forest covers in the country.

(b) To save the interests of the Tribal from the exploitation of private traders

(c) To promote the marketing of all the horticulture products

(d) None of these

Ans b

9. Where will be the Headquarter of the BRICS Bank?

(a) New Delhi

(b) Rio de janeiro

(c) Pretoria

(d) Shanghai

Ans d

10. Consider the following statements and identify the right ones.

i. The Ministry of Agriculture implements the National Horticulture Mission

ii. All the states are covered under the NHM

(a) i only

(b) ii only

(c) Both

(d) None

Ans a

11. Who of the following is considered the father of community development programmes in India?

(a) Vinoba bhabe

(b) Bindeshwar Pathak

(c) Dr. Ambedkar

(d) S.K.Dey

Ans. D

12. Which of the following is the biggest producer of Food grain in the world?

(a) India

(b) China

(c) USA

(d) Brazil

Ans. B

13. Which three states are the top three producers of food grains in India?

(a) U.P., Punjab, Madhya Pradesh

(b) Punjab, U.P., Madhya Pradesh

(c) Madhya Pradesh, U.P., Punjab,

(d) U.P., Gujarat, Madhya Pradesh

Ans. a

14. When was the first agriculture census of India conducted?

(a) 1880

(b) 1890

(c) 1921

(d) 1970

Ans. d

15. Which of the following is NOT true about indirect tax?

(a) Wealth tax is direct tax.

(b) It is imposed by the central government but collected by the state government and handed over to central govt.

(c) In the budget of 2016-17, income tax collections was more than non tax revenue

(d) In the budget of 2016-17, income tax collection was 14% of total revenue of the central government.

Ans. B

16. Which bank, takes care of agriculture & rural finance.

(a) IDBI

(b) IFC

(c) RBI


Ans. d

17. Who imposes corporation tax in India?

(a) State govt.

(b) Central govt.

(c) State and central both

(d) Local govt.

Ans. b

18. Who designed the symbol of Indian rupee?

(a) Rakesh kumar

(b) Udit raj

(c) D. Uday kumar

(d) Dr. Raj kumar

Ans. c

19. ‘ECOMARK’ a symbol is related to ……

(a) Agricultural goods

(b) Manufacturing goods

(c) Goods of best quality

(d) Goods safe for environment

Ans ' d.

20. Which of the following organization is not joined by India?

(a) APEC



(d) All of the above

Ans. D

21. What is special 301 and super 301?

(a) Variety of rice

(b) Trade pacts with Indian and European Union.

(c) Trade protection policies adopted by the USA

(d) Technology used in the artificial raining

Ans. c

22. What is laissez-faire?

(a) A Policy to have more interaction with rest of the world economies.

(b) A policy to closed economy

(c) Sudden change in the tax rate by the central government

(d) Sudden increase in the public expenditure by the government.

Ans. a

23. What does devaluation mean?

(a) Increment in the value of domestic currency.

(b) Decrease in the external value of domestic currency and no change in the internal/domestic value.

(c) First increase then decrease in the external value of domestic currency.

(d) None of these.

Ans. b

24. When the reserve bank of India increases the cash reserve ratio (CRR)?

(a) When the Indian economy have high rate of inflation

(b) When the Indian economy have low rate of inflation

(c) The demand of goods & services is very low

(d) None of these

Ans. a

25. Which of the following tax is imposed by the state government?

(a) Gift tax

(b) Property tax

(c) Road tax

(d) None of these

Ans. c

26. Which of the following is not matched correctly?

(a) IFCI established : 1948

(b) NABARD established : 1982

(c) EXIM Bank established :1988

(d) SIDBI established : 1990

Ans. c

27. Balance of payment includes only …………..…in its calculation.

(a) Visible goods

(b) Invisible goods

(c) Both a & b

(d) None of these

Ans. c

28. Appreciation of domestic currency means…………………..???

(a) Value of domestic currency increases

(b) Value of domestic currency decreases

(c) First increases then decreases

(d) First decreases then increases

Ans. a

29. Inflation is situation in which…………………………..

(a) Value of money decreases

(b) Value of money increases

(c) First increases then decreases

(d) First decreases then increases

Ans. a

30. Why a government does devaluation of its currency?

(a) To increase export

(b) To reduce import

(c) To decrease export

(d) Both a & b

Ans. d

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