Economy - General Knowledge Questions and Answers


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General Knowledge » Economy

Which of the following formulas is correct for Gross Value Added?

A

Gross Value Added = Gross National Product + Subsidies – Taxes

B

Gross Value Added = Gross Domestic Product + Subsidies – Taxes

C

Gross Value Added = Gross National Product – Subsidies + Taxes

D

Gross Value Added = Gross Domestic Product – Subsidies + Taxes

General Knowledge » Economy

Which tax slab is applied in India if Individual taxpayer’s annual taxable income is more than ₹15 lakh?

A

20%

B

30%

C

10%

D

40%

General Knowledge » Economy

The financial year in the Indian economy runs from ______.

A

1 January to 31 May

B

1 April to 31 March

C

1 June to 31 March

D

1 April to 30 June

General Knowledge » Economy

As per the new tax regime of India, what is the exemption limit of income tax for financial year 2022-23?

A

Up to ₹5,00,000

B

Up to ₹1,00,000

C

Up to ₹7,50,000

D

Up to ₹2,50,000

General Knowledge » Economy

What is the approximate amount to be mobilised for the National Highways Network expansion as per the Union Budget 2022-23?

A

₹25,000 crore

B

₹10,000 crore

C

₹15,000 crore

D

₹20,000 crore

General Knowledge » Economy

In 1991, the Indian rupee was devalued in how many steps?

A

Once

B

Three times

C

Twice

D

Four times

General Knowledge » Economy

________ is the currency in the hands of the public plus commercial bank reserves, also called ‘high-powered money’.

A

Money multiplier

B

Excess reserves

C

Monetary base

D

Desired reserve ratio

General Knowledge » Economy

According to LERMS policy,what percentage of foreign exchange earnings was required to exchange at the official exchange rate as determined by the RBI?

A

60%

B

20%

C

40%

D

30%

General Knowledge » Economy

A project for purveying microcredit by linking Self-Help Groups (SHGs) with banks was launched by ________in 1992.

A

SIDBI

B

NABARD 

C

RRB 

D

IRMA

General Knowledge » Economy

Capital adequacy ratio for a NBFC – MFI is ______.

A

8% of the aggregate deposits

B

11% of the aggregate risk weighted assets

C

15% of the aggregate deposits

D

15% of the aggregate risk weighted assets

General Knowledge » Economy

High growth rate with use of modern technology and self-reliance of the economy could be achieved only if:

A

benefits of economic prosperity reach the rich people

B

benefits of economic prosperity reach the poor people

C

the economy participates in international trade 

D

it is a capitalist economy 

General Knowledge » Economy

In India, CRR is fixed by _______________.

A

Ministry of Finance

B

Ministry of External Affairs

C

Life Insurance Corporation of India

D

Reserve Bank of India

General Knowledge » Economy

In Budget 2022-23,Government of India decided to continue the Scheme of ‘Khelo India – National Programme for Development of Sports’ over the 15th Finance Commission Cycle (2021-22 to 2025-26) at an outlay of________.

A

₹4,550 crores  

B

₹4,500 crores

C

₹5,000.50 crores 

D

₹3,165.50 crores  

General Knowledge » Economy

When the commodity value of money is less than the monetary value of money, it is called _____________.

A

full bodied money

B

credit money

C

fiduciary money

D

fiat money

General Knowledge » Economy

CENCAT is related to

A

Sales Tax

B

Excise Duty

C

Custom Duty

D

Service Tax

General Knowledge » Economy

How much year of extension was given to the tenure of National Anti-profiteering Authority (NAAs) in 35th Goods and Service Tax (GST) Council Meeting?

A

5 years 

B

4 years

C

3 years

D

2 years

General Knowledge » Economy

Who has been appointed as chairman and Managing Director of State-run Power Finance Corporation?

A

Sandip Mukund Pradhan

B

 Jagdish Dhillon

C

 Ravinder Singh Dhillon

D

Nikesh Arora

General Knowledge » Economy

Income Tax is which type of a tax?

A

Progressive

B

Regressive

C

Proportional

D

Functional

General Knowledge » Economy

According to the World Investment Report 2020 by the UNCTAD, India was the_____________largest recipient of FDI in 2019.

A

6th

B

7th

C

9th

D

5th

General Knowledge » Economy

In May 2020, which country has introduced new currency, Toman, to tackle inflation?

A

UAE

B

Turkey

C

Jordan

D

Iran