Who is known as the father of Indian economy? A) Amartya Sen B) Dadabhai Naoroji C) Raghuram Rajan D) Manmohan Singh Answer: B
GDP stands for? A) Gross Domestic Product B) General Domestic Product C) Gross Development Plan D) Global Domestic Product Answer: A
GNP stands for? A) Gross National Product B) General National Product C) Gross Net Product D) Global National Product Answer: A
First Finance Minister of India? A) R.K. Shanmukham Chetty B) Morarji Desai C) Manmohan Singh D) Yashwantrao Chavan Answer: A
RBI was established in? A) 1935 B) 1947 C) 1950 D) 1920 Answer: A
RBI headquarters is in? A) Delhi B) Mumbai C) Kolkata D) Chennai Answer: B
Currency of India is issued by? A) SBI B) RBI C) Finance Ministry D) SEBI Answer: B
Indian currency symbol ₹ was designed by? A) Udaya Kumar B) Amartya Sen C) Raghuram Rajan D) C. Rangarajan Answer: A
Inflation means? A) Price decrease B) Price increase C) Salary increase D) Tax decrease Answer: B
Deflation means? A) Price rise B) Price fall C) Income rise D) Export rise Answer: B
Fiscal policy is managed by? A) RBI B) SEBI C) Government D) Banks Answer: C
Monetary policy is controlled by? A) Government B) RBI C) Parliament D) Courts Answer: B
GDP measures? A) National income B) Foreign trade C) Population D) Inflation Answer: A
Bank rate is decided by? A) Government B) RBI C) SEBI D) NABARD Answer: B
Repo rate is? A) Loan rate RBI charges banks B) Interest on savings C) Tax rate D) Export duty Answer: A
Reverse repo rate means? A) RBI borrows from banks B) Banks borrow from RBI C) Tax rate D) Inflation rate Answer: A
Inflation reduces? A) Purchasing power B) Population C) Export D) GDP Answer: A
Budget is presented by? A) RBI Governor B) Finance Minister C) Prime Minister D) President Answer: B
Indian financial year is? A) Jan–Dec B) Apr–Mar C) Mar–Feb D) Jul–Jun Answer: B
First budget of independent India was presented by? A) Nehru B) R.K. Shanmukham Chetty C) Morarji Desai D) Manmohan Singh Answer: B
🔹 Banking & Finance (21–40)
SBI stands for? A) State Bank of India B) Standard Bank of India C) South Bank of India D) State Banking Institute Answer: A
SEBI regulates? A) Banking B) Stock market C) Railways D) Insurance Answer: B
NABARD deals with? A) Industry B) Agriculture credit C) Defence D) Education Answer: B
Insurance regulator in India? A) RBI B) IRDAI C) SEBI D) NABARD Answer: B
Stock exchange regulator? A) RBI B) SEBI C) LIC D) NABARD Answer: B
ATM stands for? A) Automated Teller Machine B) Automatic Tax Machine C) Active Transaction Mode D) Auto Transfer Machine Answer: A
NEFT used for? A) Cash withdrawal B) Money transfer C) Loan approval D) Tax payment Answer: B
RTGS stands for? A) Real Time Gross Settlement B) Rapid Transfer Global System C) Real Tax Gross System D) Reserve Transfer System Answer: A
UPI launched by? A) RBI B) NPCI C) SEBI D) SBI Answer: B
India’s central bank? A) SBI B) RBI C) NABARD D) SEBI Answer: B
First bank in India? A) SBI B) Bank of Hindustan C) PNB D) ICICI Answer: B
First Indian bank fully owned by Indians? A) PNB B) SBI C) Bank of India D) Allahabad Bank Answer: D
Plastic money refers to? A) Coins B) Credit/Debit cards C) Cash D) Cheque Answer: B
Credit card is used for? A) Withdrawal only B) Borrowing money C) Tax payment D) Salary deposit Answer: B
Debit card uses money from? A) Loan B) Bank account C) RBI D) Government Answer: B
Inflation is measured by? A) GDP B) CPI C) NPA D) FDI Answer: B
FDI stands for? A) Foreign Direct Investment B) Financial Domestic Income C) Fixed Deposit Income D) Free Domestic Investment Answer: A
FII stands for? A) Foreign Institutional Investment B) Fixed Investment Income C) Federal Investment Index D) Foreign Income Index Answer: A
NPA means? A) Net Profit Account B) Non Performing Asset C) National Public Asset D) New Private Account Answer: B
GST stands for? A) General Sales Tax B) Goods and Services Tax C) Government Service Tax D) Gross Sales Tax Answer: B
🔹 Economy & Development (41–70)
Largest sector in Indian economy? A) Industry B) Services C) Agriculture D) Defence Answer: B
Green Revolution relates to? A) Industry B) Agriculture C) IT D) Banking Answer: B
White Revolution is related to? A) Milk B) Steel C) Oil D) Cotton Answer: A
Father of White Revolution? A) Amul B) Verghese Kurien C) MS Swaminathan D) Nehru Answer: B
Blue Revolution is related to? A) Fisheries B) Industry C) Banking D) Transport Answer: A
India’s largest source of income? A) Agriculture B) Services C) Industry D) Mining Answer: B
HDI stands for? A) Human Development Index B) Health Development Index C) High Domestic Index D) Human Data Index Answer: A
Planning Commission replaced by? A) RBI B) NITI Aayog C) SEBI D) NABARD Answer: B
NITI Aayog formed in? A) 2015 B) 2000 C) 1991 D) 2010 Answer: A
Poverty line is measured by? A) Income B) Population C) GDP D) Inflation Answer: A
Development & Policies (51–70)
NITI Aayog replaced which institution? A) RBI B) Planning Commission C) SEBI D) Finance Commission Answer: B
Five-Year Plans in India were started in? A) 1947 B) 1951 C) 1965 D) 1975 Answer: B
First Five-Year Plan focused on? A) Industry B) Agriculture C) Defence D) IT sector Answer: B
Second Five-Year Plan focused on? A) Agriculture B) Industry C) Education D) Trade Answer: B
LPG in economy stands for? A) Liberalisation, Privatisation, Globalisation B) Local Public Growth C) Large Private Growth D) Legal Public Governance Answer: A
Economic reforms in India started in? A) 1947 B) 1980 C) 1991 D) 2000 Answer: C
Father of economic reforms in India? A) Manmohan Singh B) Raghuram Rajan C) Amartya Sen D) Montek Singh Ahluwalia Answer: A
SEZ stands for? A) Special Economic Zone B) State Economic Zone C) Small Export Zone D) Special Export Zone Answer: A
Export means? A) Buying goods B) Selling goods abroad C) Internal trade D) Storage of goods Answer: B
Import means? A) Selling abroad B) Buying from abroad C) Local trade D) Production Answer: B
Balance of Trade compares? A) Imports & exports B) GDP & GNP C) Income & savings D) Tax & subsidy Answer: A
Positive Balance of Trade means? A) Imports > Exports B) Exports > Imports C) Equal trade D) No trade Answer: B
Negative Balance of Trade means? A) Exports > Imports B) Imports > Exports C) No imports D) No exports Answer: B
GDP includes? A) Only foreign income B) Domestic production C) Only agriculture D) Only services Answer: B
GNP includes? A) Only domestic production B) Foreign + domestic income C) Only exports D) Only imports Answer: B
Per capita income means? A) Total GDP B) Income per person C) National debt D) Inflation rate Answer: B
Economic survey is released by? A) RBI B) Finance Ministry C) SEBI D) NITI Aayog Answer: B
India’s largest public sector bank? A) PNB B) SBI C) BoB D) Canara Bank Answer: B
Fiscal deficit means? A) Revenue surplus B) Expenditure > Income C) Export increase D) Import decrease Answer: B
Revenue deficit means? A) Capital loss B) Revenue expenditure > revenue income C) GDP growth D) Inflation control Answer: B
🔹 Banking & Financial System (71–85)
RBI was established in? A) 1935 B) 1947 C) 1950 D) 1920 Answer: A
RBI nationalised in? A) 1947 B) 1950 C) 1949 D) 1960 Answer: C
Indian currency symbol ₹ designed by? A) Udaya Kumar B) Amartya Sen C) Manmohan Singh D) Raghuram Rajan Answer: A
RBI issues? A) Coins only B) Currency notes C) Gold D) Bonds only Answer: B
Minting of coins is done by? A) RBI B) Government of India C) SEBI D) SBI Answer: B
Financial year in India is? A) Jan–Dec B) Apr–Mar C) Mar–Feb D) Jul–Jun Answer: B
GST introduced in India in? A) 2015 B) 2016 C) 2017 D) 2018 Answer: C
GST stands for? A) General Sales Tax B) Goods and Services Tax C) Government Service Tax D) Global Sales Tax Answer: B
Direct tax example? A) GST B) Income tax C) Excise duty D) Customs duty Answer: B
Indirect tax example? A) Income tax B) Corporate tax C) GST D) Wealth tax Answer: C
Repo rate affects? A) Stock market B) Loan interest C) Export D) Population Answer: B
Reverse repo rate is used to? A) Control inflation B) Control population C) Increase imports D) Reduce GDP Answer: A
CRR stands for? A) Cash Reserve Ratio B) Credit Reserve Rate C) Current Reserve Ratio D) Central Reserve Rate Answer: A
SLR stands for? A) Statutory Liquidity Ratio B) Standard Loan Rate C) State Liquidity Rate D) Savings Loan Ratio Answer: A
Inflation reduces? A) Prices B) Purchasing power C) GDP D) Population Answer: B
🔹 Economy & Institutions (86–100)
World Bank provides? A) Loans B) Currency C) Gold D) Taxes Answer: A
IMF stands for? A) International Monetary Fund B) Indian Monetary Fund C) Internal Money Flow D) International Market Fund Answer: A
Headquarters of IMF? A) London B) Washington DC C) New York D) Geneva Answer: B
World Bank headquarters? A) Paris B) London C) Washington DC D) Tokyo Answer: C
Human Development Index measures? A) GDP only B) Health, education, income C) Population D) Trade Answer: B
Largest employment sector in India? A) Industry B) Agriculture C) IT D) Banking Answer: B
Green Revolution relates to? A) Industry B) Agriculture C) Transport D) IT Answer: B
Father of Green Revolution in India? A) Verghese Kurien B) MS Swaminathan C) Amartya Sen D) Nehru Answer: B
White Revolution relates to? A) Milk production B) Steel C) Oil D) Cotton Answer: A
Blue Revolution relates to? A) Fisheries B) Agriculture C) Banking D) Industry Answer: A
India’s largest export sector? A) Agriculture B) Services C) Defence D) Mining Answer: B
IT hub of India? A) Mumbai B) Delhi C) Bengaluru D) Chennai Answer: C
Economic census is conducted by? A) RBI B) CSO C) SEBI D) NABARD Answer: B
India’s central statistical organization is? A) NSO/CSO B) RBI C) SEBI D) IMF Answer: A
Largest contributor to India’s GDP? A) Agriculture B) Services C) Industry D) Mining Answer: B