71. Since independence, both development and non-development expenditures have increased; the increase in the former being a little more than in the other. Non-development expenditure involves I. interest payments II. subsidies III. defence IV. irrigation A. I, II B. I C. I, II, III D. II, III, IV Answer: C. I, II, III 72. The
more..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.
more..51. The currency convertibility concept in its original form originated in A. Wells Agreement B. Bretton Woods Agreement C. Taylors Agreement D. None of the above Answer: B. Bretton Woods Agreement 52. In the state of India, the State Financial Corporation have given assistance mainly to develop A. agricultural farms B. cottage industry C. large-scale
more..41. The current price index (base 1960) is nearly 330. This means that A. all items cost 3-3 times more than what they did in 1960 B. the prices of certain selected items have gone up to 3-3 times C. weighted means of prices of certain item has increased 3-3 times D. gold price has
more..31. Since 1983, the RBI’s responsibility with respect to regional rural banks was transferred to A. ARDC B. SBI C. NABARD D. PACs Answer: C. NABARD 32. Deficit financing implies A. printing new currency notes B. replacing new currency with worn out currency C. public expenditure in excess
more..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.
more..11. Which of the following is the first Indian private company to sign an accord with Government of Myanmar for oil exploration in two offshore blocks in that country? A. Reliance Energy B. Essar Oil C. GAIL D. ONGC Answer: B. Essar Oil 12. Since the inception of the co-operative movement, rural credits has been
more..This is the Part 1 general knowledge questions and answers section on “Indian Economy” with explanation for various interview, competitive examination and entrance test. Solved examples with detailed answer description, explanation are given and it would be easy to understand. 1. One of the reasons for India’s occupational structure remaining more or less the same
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