💰General Economics & Indian EconomyEconomics

Law of Demand & Supply, Inflation, National Income (GDP, GNP, NNP), Monetary & Fiscal Policies, Reserve Bank of India (RBI), Economic Reforms, and Union Budget.

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🏛️Appeared in 25 Official Examinations
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📝 Solved General Economics & Indian Economy Questions (73)

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Q1
🧾 AccountsTaxation

GST is a consumption of goods and service tax based on:

Q2
🧾 AccountsTaxation

A Finance Bill becomes the Finance Act when it is passed by:

Q3
🧾 AccountsTaxation

Income which accrues or arises outside India & is also received outside India is taxable in the case of:

Q4
🧾 AccountsTaxation (GST)

Which of the following is/are included in the definition of "Goods" as defined under section 2(52) of the CGST Act, 2017?

Q5
🧾 AccountsTaxation

The amount payable at the time of closure or opting out of the National Pension Scheme referred to in section 80CCD shall be exempt to the extent of _____ of the total amount payable.

Q6
🧾 AccountsTaxation

Assertion (A): If the interest is payable outside India, tax must be deducted at source.
Reason (R): If tax has not been deducted at source, the amount paid as interest will not be allowed as a deduction in computing business income.

Select the correct answer from the code given below:

Q7
📊 EconomicsEconomics

Which of the below statements is correct?

Q8
📊 EconomicsEconomics

What is the meaning of a 'Mixed Economy'?

Q9
📊 EconomicsEconomics

Which of the following is the relation that the law of demand defines?

Q10
📊 EconomicsEconomics

What is Gross Domestic Product?

Q11
📊 EconomicsEconomics

The 'Agreement on Technical Barriers to Trade (TBT)' is related to which institution?

Q12
📊 EconomicsEconomics

Commercial Paper (CP) is an unsecured money market instrument issued in the form of a:

Q13
📊 EconomicsEconomics

Bank rate is the rate at which the RBI extends credit to the:

Q14
📊 EconomicsEconomics

Which five-year plan of India was based on the Mahalanobis model?

Q15
📊 EconomicsEconomics

Which is NOT one of the four main factors of production?

Q16
📊 EconomicsEconomics

What does the Lorenz curve represent?

Q17
🔬 Forensic ScienceElasticity

Hooke's Law describes the relationship between stress and:

Q18
📊 EconomicsIndian Economy

Which of the following taxes are abolished by the Goods and Services Tax?

Q19
📊 EconomicsIndian Economy

Hundies are normally

Q20
📊 EconomicsIndian Economy

The term HUF is frequently found in taxation system in India, what does HUF stands for?

Q21
📊 EconomicsEconomy

Who is responsible for establishing and maintaining a sound and efficient accounting and financial reporting system in India?

Q22
📊 EconomicsEconomy

Government strategy regarding exporters and importers is called

Q23
📊 EconomicsIndian Economy

How many times in a year does the RBI release the Monetary Policy?

Q24
🏗️ Civil EngineeringWater Supply Intake

Pick up the incorrect statement from the following. The intake of a water supply scheme should

Q25
📊 EconomicsVehicle Insurance

Consider the following statements, choose the correct combination:
Statement-1: As per Indian motor vehicle act 1988, a comprehensive motor insurance policy is mandatory
Statement-2: Third-party liability insurance is optional for Indian vehicle

Q26
📊 EconomicsVehicle Insurance

Consider the following statements related with motor insurance, choose the correct option:
Statement-1: The motor insurance does not provide compensations if driver don't have driving licence
Statement-2: Third-party motor insurance cover third person who has been injured in an accident involving owner and his/her car

Q27
🗺️ GeographyEconomy & Agriculture

Jammu and Kashmir is the leading producer of which high-value spice crop in India?

Q28
🗺️ GeographyEconomy & Agriculture

Who is widely recognized as the 'Father of the Green Revolution' in India?

Q29
🧪 Chemistry & Water QualityWater Quality Parameters: Turbidity

Which among the following causes turbidity in water?

Q30
🧪 Chemistry & Water QualityBiochemical Oxygen Demand Concept

The BOD (Biochemical Oxygen Demand) of a wastewater is a measure of

Q31
📊 EconomicsMacroeconomics & Inflation

Which of the following most closely defines stagflation in an economy?

Q32
📊 EconomicsGST Structure in India

Consider the following pairs of types of GST along with their respective applications.
1. SGST - is applicable on intrastate (within the same state) transactions
2. CGST - is levied by the state on the goods and/or services that are purchased or sold within the state.
3. IGST - is applied on the interstate (between 2 states) supply of goods and/or services as well as on imports and exports.
4. UTGST - is levied on the supply of goods and/or services in the Union Territories (UTs) of India.
Which of the following pairs is/are correctly matched?

Q33
💼 Business & EconomyIndian Corporate Leaders & Founders

Who is the founder of the biotech Indian company called 'Biocon'?

Q34
🏦 Banking & FinanceBanking Abbreviations & Codes

In the context of the banking sector, what does 'F' stand for in IFSC?

Q35
📊 EconomicsSectors of the Economy

Banking sector comes under which of the following sectors?

Q36
🏦 Banking & FinanceBanking History & New Private Banks

Which of the following is the recently opened bank in India?

Q37
🏦 Banking & FinanceCurrency & Coinage in India

Who is responsible for the supply of coins in India?

Q38
🏦 Banking & FinancePublic vs Private Sector Banks

Which among the following is not a public sector bank?

Q39
📊 EconomicsGovernment Budget & Deficits

Which of the following is the definition of a budget deficit?

Q40
📊 EconomicsInternational Trade & Balance of Trade

Balance of trade is

Q41
📊 EconomicsTaxation: Surcharge and Cess

The temporary tax levied to obtain additional revenue is called

Q42
📊 Economics & Union BudgetUnion Budget 2024-25 Capex

What is the amount of capital expenditure (capex) outlay announced by the Indian government in the union budget 2024-25?

Q43
📊 EconomicsMacroeconomic Curves: Phillips Curve

Which of the following best describes the Phillips Curve in macroeconomics?

Q44
🗺️ Geography & Economy of J&KHorticulture in Jammu & Kashmir

Which district is known as 'Apple Bowl of Jammu and Kashmir'?

Q45
🗺️ Geography & Economy of J&KMajor Towns & Horticulture in J&K

Which town in Jammu and Kashmir is also known as Apple Town?

Q46
⚙️ Mechanical EngineeringIndustrial Engineering: Demand Forecasting

In a static environment, forecasting future is:

Q47
⚙️ Mechanical EngineeringHydraulic Machines: Hydraulic Turbines

Match List-I with List-II and select the correct answer using the codes given below:
List-I: P. Propeller, Q. Francis turbine, R. Kaplan turbine, S. Pelton turbine
List-II: 1. Inward flow reaction, 2. Tangential flow impulse, 3. Axial flow reaction with fixed vanes, 4. Axial flow reaction with adjustable vanes

Q48
⚙️ Mechanical EngineeringThermodynamics: Gas Turbine Brayton Cycle

The Brayton cycle is commonly used in:

Q49
⚙️ Mechanical EngineeringHydraulic Machines: Turbines

A hydraulic turbine converts:

Q50
🏢 Indian Economy & Public EnterprisesLargest PSUs in India

The largest public sector undertaking in India is

Q51
🌍 World Geography & EconomicsCurrencies of the World

Consider the following pairs corresponding to the currency of different countries:
a) Algeria — 1) Somoni
b) Indonesia — 2) Rupiah
c) Tajikistan — 3) Kwacha
d) Zambia — 4) Dinar
Which of the pairs given above are correctly matched?

Q52
📈 Indian EconomySectors of Indian Economy

Consider the following pairs:
1. Primary — a. Banking
2. Secondary — b. Car manufacturing
3. Tertiary — c. Fishing
Which of the following pair is correct?

Q53
💰 Indian Taxation & GSTGoods & Services Tax Scope and Inclusions

Which of the following goods is covered under the GST bill?

Q54
⚖️ Taxation & Legal PersonhoodIncome Tax Act: Types of Assessees

A private university named "Kaushal University" is assessable under the income tax act as

Q55
🔬 Space Science & PhysicsSatellite Launch Trajectories & Orbital Mechanics

Assertion (A): Artificial Satellites are always launched from the earth in the eastwards direction.
Reason (R): The earth rotates from west to east and so the satellite attains the escape velocity.
Choose the correct option:

Q56
💰 Indian Banking & Financial SystemsNPCI vs RBI Regulatory Roles

Which of the following is NOT an objective of NPCI?

Q57
📈 Economy of Jammu & KashmirPrimary Economic Sectors in J&K

What is the predominant economic activity in Jammu & Kashmir?

Q58
💻 Computer Knowledge: Banking TechnologyInput Devices: MICR

This peripheral device is mostly used in financial institutions to process a large number of cheques by recognizing the magnetic encoding number printed at the bottom of the cheque?

Q59
💰 Financial Markets & EconomicsForeign Exchange Market (Forex)

The market in which currencies are bought and sold and their exchange prices are settled is called the

Q60
📈 Indian Economy & Union Budget 2024Blue Economy 2.0 Framework

Which one of the following best describes the term 'Blue Economy 2.0', highlighted in the Union Budget 2024?

Q61
💰 Banking & RBI Regulatory ActionsRBI Regulatory Actions on Payments Banks

Recently in early 2024, the Reserve Bank of India (RBI) imposed supervisory restrictions under Section 35A on which payment bank?

Q62
💰 Digital Banking & PaymentsRBI QCVM Pilot Project

The QR Code-based Coin Vending Machine (QCVM), piloted by the Reserve Bank of India, dispenses coins using which technology?

Q63
👥 Gender Studies & Labor EconomicsGender Wage Gap: Occupational Segregation

Which of the following is a major structural factor contributing significantly to the gender pay gap in the labor market?

Q64
📈 Indian EconomySectors of the Economy

Which of the following economic activities comes under the Tertiary (Services) Sector of the economy?

Q65
📈 Public Finance & TaxationDirect vs Indirect Taxes

Which of the following is an Indirect Tax?

Q66
📈 Indian Taxation & GSTTaxes Subsumed under GST

Which of the following indirect taxes was subsumed and abolished upon the nationwide rollout of the Goods and Services Tax (GST)?

Q67
General Knowledge with Special Reference to J&K UTJ&K Economy & GST Implementation

When was the Goods and Services Tax (GST) implemented in Jammu and Kashmir?

Q68
General Economics & Indian EconomyFinance Commission of India

Who was the Chairman of the 15th Finance Commission of India, which was constituted in 2017?

Q69
General Economics & Indian EconomyEmployment, Skill Development & Human Resource

Which initiative plays the most crucial role in boosting employment opportunities in India?

Q70
General Economics & Indian EconomyForeign Trade Policy & DGFT Initiatives

Who launched the 'Trade Watch', a weekly publication focusing on India's trade developments?

Q71
Clinical Psychology & Psychological DisordersChronic Pain & Psychological Comorbidity

How does chronic pain often impact a person's psychological well-being?

Q72
Medical Ethics & Patient CareGDPR & Healthcare Data Privacy

What is the main concern addressed by GDPR (General Data Protection Regulation) in data privacy.

Q73
Radiobiology & Cellular EffectsRTOG Acute Radiation Morbidity Scoring

In the RTOG grading scale, which grade corresponds to severe erythema and moist desquamation caused by radiation therapy?

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