Indian Economy GK Questions and Answers – Part 3

21. Fiscal deficit in the Union Budget means
A. the difference between current expenditure and current revenue
B. net increase in Union Governments borrowings from the Reserve Bank of India
C. the sum of budgetary deficit and net increase in internal and external borrowings
D. the sum of monetized deficit and budgetary deficit
Answer:
C. the sum of budgetary deficit and net increase in internal and external borrowings
22. Subsidies mean
A. payment by government for purchase of goods and services
B. payment made by business enterprises to factors of production
C. payment made by companies to shareholders
D. payment made by the government to business enterprises, without buying any goods and services
Answer:
D. payment made by the government to business enterprises, without buying any goods and services

23. National expenditure includes
A. consumption expenditure
B. investment expenditure
C. government expenditure
D. All of the above
Answer:
D. All of the above

24. Resurgent India Bonds were issued in US dollar, Pound Sterling and
A. Japanese Yen
B. Deutsche Mark
C. Euro
D. French Franc
Answer:
B. Deutsche Mark

25. The apex body for formulating plans and coordinating research work in agriculture and allied fields is
A. State Trading Corporation
B. Regional Rural Banks
C. National Bank for Agriculture and Rural Development (NABARD)
D. Indian Council of Agricultural Research
Answer:
D. Indian Council of Agricultural Research

26. Which of the following is not an undertaking under the administrative control of Ministry of Railways?
A. Container Corporation of India Limited
B. Konkan Railway Corporation Limited
C. Indian Railways Construction Company Limited
D. Diesel Locomotive Works, Varanasi
Answer:
C. Indian Railways Construction Company Limited

27. In utensils worth Rs 1000 are produced with copper worth Rs 500, wages paid are Rs 100, other material purchased is worth Rs 100 and depreciation of machinery is zero, then what is the value added in process?
A. Rs 1000
B. Rs 500
C. Rs 400
D. Rs 300
Answer:
D. Rs 300

28. Paper currency first started in India in
A. 1861      B. 1542
C. 1601      D. 1880
Answer:
A. 1861

29. The ARDC is now a branch of the
A. RBI        B. NABARD
C. IDBI      D. SDBI
Answer:
B. NABARD

30. Devaluation of currency leads to
A. fall in domestic prices
B. increase in domestic prices
C. no impact on domestic prices
D. erratic fluctuations in domestic prices
Answer:
B. increase in domestic prices

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