Economy - General Knowledge Questions and Answers

Identify the FALSE statement in the context of money supply.

Which of the following has been designated as the self-regulatory origination for Micro finance institutions in India?

Which method of calculating the national income is also known as ‘Industrial Origin Method’?

____________ is a situation in the bonds market when the rate of interest falls to its lowest level and the speculative demand for money becomes perfectly elastic.

Which of the following statements is/are correct?

I.Only marketed goods are considered while estimating Gross Domestic Product (GDP).
II. The work done by a woman at her home is outside the purview of Gross Domestic Product.
III. In estimating GDP, only final goods and services are considered.

The allocation towards health and well-being was increased by ______ over the previous year in Union Budget 2021-22.

Which of the following is an Indirect Tax in India?

In February 2021, the Finance Minister of India announced the setting up of a Dispute Resolution Committee (DRC) for taxpayers with taxable income up to ______ and disputed income up to ______ .

NIP related to India’s budget, which was announced in December 2019 by the Union Finance Minister of India stands for:

Which bank is referred to as ‘The lender of last resort’?

As per the Economic Survey 2020–21, net FPI (Foreign Portfolio Investment) recorded an all-time monthly high of US$9.8 billion in ______.

As per the Union Budget 2021-22, the government plans to continue on the path of fiscal consolidation, achieving a fiscal deficit level below 4.5% of GDP by ______.

As per the Union Budget of 2021-22, how many textile parks are to be set up in 3 years?

The value of the Gross Domestic Product (GDP) of India is published by PIB in ______.

What is the repo rate given by the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) as on 7 April 2021?

As per the Economic Survey, 2020, how many banks of India are there in the list of the top global 100?

In December 2020, ______ became the first country in the world to approve sale of lab-grown chicken products.

In which year had India's ratio of public debt to GDP gone up to a record 84.2%?

The Cabinet Committee on Economic Affairs (CCEA) approved an increase in the Minimum Support Prices (MSPs) for all mandated Rabi crops for the marketing season 2021–22 in line with the recommendations of the ______ Commission.

______ is a tax system that collects a greater share of income from those with high incomes than from those with lower incomes.