Quiz on Indian Economy: This blog post features a set of Quiz on Indian Economy to test the reader’s knowledge on various this topic. The questions cover a range of subjects, including geography, astronomy, politics, and entertainment. The answers to each question are also provided to help the reader assess their knowledge and learn something new. This Quiz on Indian Economy is a fun way to challenge oneself and improve one’s knowledge on a variety of topics. Are you ready to put to attempt quiz on Indian Economy? Let’s get started!
Quiz on Indian Economy
1.In which year Reserve bank of India introduced Special Fund Facility for Security Settlement SFFSS?
Notes: In the year 2000, the Special Fund Facility for Security Settlement, which was introduced as an amendment to Securities Contracts (Regulation) Act, 1956. The main purpose behind introducing such a facility was regularization and smoothening of security-related transactions.
2.Which among the following body in India takes actions against violations & irregularities in foreign currency convertible bonds?
[A] Securities and Exchange Board of India
[B] Reserve Bank of India
[C] Foreign Investment Promotion Board
[D] National Stock Exchange
[B] Reserve Bank of India
3.Note Printing Press that belongs to RBI is located in?
4.The mosquito fern or Azolla is one of the most important bio fertilizers. In association with which among the following Azolla acts as a biofertilizer?
[B] Blue-green algae
[D] Green algae
B [ Blue-green algae]
Bio-fertilizers such as Rhizobium, Azotobacter, Azospirillum and blue green algae (BGA) have been in use a long time. Anabaena, a blue green alga in association with water fern Azolla contributes nitrogen and also enriches soils with organic matter.
5.Which of the following schemes are parts of Foreign Trade Policy of India (FTP 2015-20)?
Merchandise Exports from India Scheme (MEIS)
Services Exports from India Scheme
Export Promotion Capital Goods
Advance Authorisation Scheme
Select the correct option from codes given below:
[A] 1 & 2 Only
[B] 1, 2 & 4 Only
[C] 1, 2 & 3 Only
[D] 1, 2, 3 & 4
D [1, 2, 3 & 4]
The Export Promotion Capital Goods (EPCG) scheme allows duty-free imports of machinery and parts against an undertaking that a firm will export a specified amount within a stipulated time. This scheme is a part of Foreign Trade Policy of India (FTP 2015-20). Service Exports from India Scheme (SEIS) and Merchandise Exports from India Scheme (MEIS) were introduced under the Foreign Trade Policy of India (FTP 2015-20). Under SEIS, the service providers of notified services are incentivized in the form of Duty Credit Scrips at the rate of 3 or 5% on their net foreign exchange earnings. Similarly, Export Promotion from Capital Goods scheme provides Duty Credit Scrips to exporters from India. Under Advance authorization Scheme (AAS), exporter can import raw-materials and related inputs under 100% duty exemption schemes. The DGFT is the licensing authority for this scheme. This is also a part of Foreign Trade Policy of India (FTP 2015-20).
6.India is fully dependent on imports to meet the demand of which of the following fertilizers?
[A] Nitrogen Fertilizer
[B] Phosphelic Fertilizer
[C] Potash Fertilizer
[D] None of these
C [Potash Fertilizer]
Notes: Almost the entire demand for potash in India is met through imports. Indian Potash Ltd (IPL) is the largest importer of MoP. In 2016-17, it imported 4 million tonnes from countries like Belarus, Russia and Canada. Potash imports are expected to be lower by 5-7 per cent.
7.Which of the following are the specialized wings of NITI Aayog?
1. Research Wing
2. Consultancy Wing
3. Team India Wing
Select the correct option from the codes given below:
[A] Only 1
[B] Only 2
[C] Only 2 & 3
[D] 1, 2 & 3
D [1, 2 & 3]
NITI Aayog consists of a number of specialized wings such as the research wing, the consultancy wing, the team India wing. NITI Aayog functions in close cooperation, consultation and coordination with the Ministries of the Central Government, and State Governments of India.
8.What is marginal utilty in economics signify?
[A] Small utlity
[B] Additional utlity
[C] Minimum utility
[D] Satisfied utilty
B [Additional utlity]
Marginal Utility is the additional utility derived from the consumption of an additional unit of commodity. It quantifies the added satisfaction that a consumer garners from consuming additional units of goods or services.
9.What is the extra cost imposed by the government which increase the price for a customer is known as?
Tax is the cost imposed by the government over goods and services in an economy to generate revenue for the government for its expenditure. This includes capital as well as revenue expenditure.
10.Who is the author of “Poverty and un-British rule in India”?
[A] Suredranath Banerjee
[C] Rajarammohan Roy
[D] Dadabai Naoroji
D [Dadabai Naoroji]
Dadabai Naoroji who is known as the grand old man of India is a critique of the drain of wealth. He explained the British exploitation of Indian wealth and Indian resources through his book “Poverty and un-British rule in India”.