Indian Economy GK Questions and Answers – Part 7

61. If all the banks in an economy are nationalized and converted into a monopoly bank, the total deposits
A. will decrease
B. will increase
C. will neither increase nor decrease
D. None of the above
Answer:
C. will neither increase nor decrease

62. India changed over to the decimal system of coinage in
A. April 1995
B. April 1957
C. April 1958
D. April 1959
Answer:
B. April 1957

63. The annual yield from which of the following Union Government taxes is the highest?
A. Custom duties
B. Corporation tax and income tax
C. Inheritance tax, wealth tax, interest tax and gift tax
D. Excise duties
Answer:
D. Excise duties

64. The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of
A. 15 to 20 percent
B. 20 to 25 percent
C. 25 to 30 percent
D. 30 to 35 percent
Answer:
B. 20 to 25 percent

65. Development expenditure of the Central government does not include
A. defence expenditure
B. expenditure on economic services
C. expenditure on social and community services
D. grant to states
Answer:
A. defence expenditure

66. ICICI is the name of a
A. chemical industry
B. bureau
C. corporation
D. financial institution
Answer:
D. financial institution

67. Gilt-edged market means
A. bullion market
B. market of government securities
C. market of guns
D. market of pure metals
Answer:
B. market of government securities

68. In the last one decade, which one among the following sectors has attracted the highest foreign direct investment inflows into India?
A. Chemicals other than fertilizers
B. Services sector
C. Food processing
D. Telecommunication
Answer:
D. Telecommunication

69. Devaluation of a currency means
A. reduction in the value of a currency vis-a-vis major internationally traded currencies
B. permitting the currency to seek its worth in the international market
C. fixing the value of the currency in conjunction with the movement in the value of a basket of pre-determined currencies
D. fixing the value of currency in multilateral consultation with the IMF, the World Bank and major trading partners
Answer:
A. reduction in the value of a currency vis-a-vis major internationally traded currencies

70. In the second nationalization of commercial banks, ___ banks were nationalizeD.
A. 4
B. 5
C. 6
D. 8
Answer:
C. 6

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