WBCS MAIN 2023 P-5 Economics MCQ & One Liner Questions

WBCS MAIN 2023 P-5 Economics MCQ

WBCS MAIN 2023 P-5 Economics One Liner Questions

Here are all 94 questions from the WBCS Main 2023 Paper V (Economics) as one-liner questions with answers.

🏦 INDIAN ECONOMY (GENERAL)

  1. Which sector recorded the highest growth rate in the Tenth Plan? Ans: Services
  2. India is self-sufficient in all important food items except which one? Ans: Oilseeds
  3. What has been brought in place of the Planning Commission? Ans: NITI Ayog
  4. Which sector dominates in FDI inflows in India in recent years? Ans: Computer Software and Hardware
  5. Which industry has registered a high rate of growth since the 1980s? Ans: Consumer durable goods industries
  6. What characterised the First Generation Reforms in India? Ans: All of the above (Privatisation, Liberalisation, Globalisation)
  7. In which year was GST imposed? Ans: 2017
  8. What percentage of India’s work force is engaged in the informal sector? Ans: 90 per cent
  9. In which year was the LPG model of development introduced in India? Ans: 1991
  10. What was the immediate impact of globalisation initiated in 1991? Ans: Increase in informatisation of the economy
  11. What is inclusive growth? Ans: Process where all people participate and benefit equitably
  12. Which is the largest employer in India? Ans: Agricultural sector
  13. Which sector contributes most to India’s Gross Domestic Product? Ans: Tertiary sector
  14. Which city is known as the Diamond City of India? Ans: Surat
  15. How has the impact of first generation economic reforms on employment and poverty been? Ans: Not satisfactory
  16. Which is a reputed software company in India? Ans: HCL Technologies
  17. Who advocated the “Panchayati Raj” system for India? Ans: M.K. Gandhi
  18. What is the great potential of India’s Information Technology industry? Ans: To generate foreign exchange earnings

💰 BANKING & RESERVE BANK OF INDIA

  1. When does RBI’s monetary policy fail in controlling inflation? Ans: When inflation is caused by shortages of goods
  2. What is the main role of the Reserve Bank of India? Ans: To maintain financial stability
  3. Under which Act are the legal provisions for managing foreign exchange reserves laid down? Ans: Reserve Bank of India Act, 1934
  4. What is the aggregate of broad money (M₃) according to RBI? Ans: Currency with public, demand deposits and time deposits of commercial banks
  5. Which Prime Minister of India also served as the Governor of the Reserve Bank? Ans: Manmohan Singh
  6. What is the main focus of selective credit control? Ans: Credit for hoarding of goods in short supply and speculation
  7. Which is a developmental function of the Reserve Bank of India? Ans: All of the above (Promoting banking habits, setting up specialised financing agencies, extending banking facilities to rural areas)
  8. Which statement about the Reserve Bank of India is incorrect? Ans: It provides loan facilities to corporate houses
  9. Which of the following is a commercial bank? Ans: State Bank of India
  10. Which institution issues currency notes above the denomination of one rupee? Ans: Reserve Bank of India
  11. How does the Reserve Bank of India issue currency notes? Ans: Maintaining a minimum reserve of gold and foreign exchanges
  12. How do commercial banks create money? Ans: By lending a part of their deposits
  13. What does REPO stand for? Ans: Repurchase Option
  14. What happens when RBI conducts open market sale of securities? Ans: Cash reserves of commercial banks decrease
  15. What is the bank rate? Ans: The interest rate the Reserve Bank charges commercial banks for lending them money
  16. What does RBI require every scheduled bank to maintain as bankers’ bank? Ans: Cash reserves with it
  17. Which measure does RBI use as an anti-inflationary measure? Ans: Increase in the Bank Rate
  18. What does CRR stand for? Ans: Cash Reserve Ratio
  19. Which is not a function of the Reserve Bank of India? Ans: Taking decision regarding deficit financing for Government
  20. Which objective is not aimed by RBI’s monetary policy? Ans: Ensuring revenue-expenditure balance in Central Government budget
  21. In which year was the Reserve Bank of India nationalised? Ans: 1949
  22. Which institution fixes the Repo Rate and the Reverse Repo Rate in India? Ans: Reserve Bank of India

🌾 AGRICULTURE & RURAL DEVELOPMENT

  1. Which is not a part of land reforms in India? Ans: Ceilings on the use of machines on farms
  2. What is the minimum participation of women mandated by MGNREGA? Ans: 33 per cent
  3. Which programmes help promote rural development in India? Ans: All of the above (Bharat Nirman, Pradhan Mantri Gramin Aawas Yojana, MGNREGA)
  4. Why was the first Green Revolution launched? Ans: To ensure food security
  5. Which crop did the first Green Revolution initially cover? Ans: Only wheat
  6. Which institution provides institutional credit for sustainable agriculture and rural development? Ans: NABARD
  7. In which year did the agricultural sector register a negative rate of growth? Ans: 2002-2003
  8. When was the Minimum Needs Programme introduced? Ans: Fifth Five Year Plan

💼 FOREIGN TRADE & INVESTMENT

  1. Which country accounts for the highest inward FDI for India in recent years? Ans: Singapore
  2. Which country has agreed to trade in Indian rupees? Ans: Sri Lanka
  3. Which body frames and implements India’s Foreign Trade Policy? Ans: Directorate General of Foreign Trade (DGFT)
  4. On which is GST imposed? Ans: Imports of goods and services
  5. Why have India’s foreign exchange reserves continuously increased since 2000-01? Ans: All of the above (speeding up of economic reforms, higher interest rates in India, bullish turn in stock market attracting FIIs)
  6. Which commodity is exported the most from India? Ans: Engineering goods
  7. In which account is the Indian Rupee fully convertible? Ans: Current Account
  8. Which country poses the main competition to the Indian textile industry? Ans: China
  9. Which country emerged as the biggest trading partner of India in 2023? Ans: United States
  10. Which is a major manufactured export item of India? Ans: Gems and Jewellery
  11. Which goods does India import the most? Ans: Petroleum Crude
  12. In which years was the Rupee devalued twice? Ans: 1966 and 1991
  13. Where are Indian investments abroad mainly directed? Ans: South-East Asia
  14. What was an argument in favour of globalisation in 1991? Ans: Promotion of Foreign Direct Investment

📊 FIVE YEAR PLANS & PLANNING COMMISSION

  1. Why did India have two Sixth Five Year Plans? Ans: Change of power at the Center
  2. What was the reason behind the 1966-69 Plan Holiday? Ans: All of the above (Two years of drought, lack of resources, increase in inflationary pressures)
  3. Why was the Eighth Plan postponed by two years? Ans: Foreign exchange crisis
  4. In which year was the Twelfth Plan completed? Ans: 2017
  5. On which model was the First Five Year Plan based? Ans: Harrod-Domar model
  6. From where was finance for the Indian plans obtained? Ans: All of the above (Domestic savings, Public borrowing, Deficit financing)
  7. What was the basic objective of the Twelfth Five Year Plan? Ans: Faster, more inclusive and sustainable growth
  8. Which period did the Rolling Plan cover? Ans: 1978-83
  9. Who was the last Deputy Chairman of the Planning Commission? Ans: Montek Singh Ahluwalia

📈 FINANCE COMMISSION & PUBLIC FINANCE

  1. How often is the Finance Commission constituted by the President? Ans: Every 5 years
  2. What is Fiscal deficit in the Central Budget of India? Ans: Total expenditure minus total receipts excluding borrowings and other liabilities
  3. Which comes under the Union Budget? Ans: Railways
  4. What is the role of Finance Commissions of India? Ans: Recommend the sharing of tax revenues by the Centre and the States
  5. Which is not a direct tax in India? Ans: Entertainment tax
  6. Which is not an indirect tax in India? Ans: Corporate tax
  7. In what ratio is GST shared by the Central and State Governments for most goods and services? Ans: 50:50
  8. Which tax is not shared by the Central and State Governments? Ans: Basic Customs duty
  9. Who is the Chairman of the 15th Finance Commission? Ans: N.K. Singh

👥 SOCIAL SECTOR, POVERTY & EMPLOYMENT

  1. What is the minimum participation of women mandated by MGNREGA? Ans: 33 per cent
  2. Which is not a poverty alleviation programme? Ans: Ayushman Bharat Yojana
  3. Which state has the highest infant mortality rate in India? Ans: Madhya Pradesh
  4. When was the first Act addressing Child Labour passed? Ans: 1986
  5. Which are recently framed labour codes of the Government of India? Ans: All of the above (Code on wages, Industrial relations code, Code on social security)
  6. Where do the majority of child labour in India work? Ans: Agriculture
  7. In which industry are Indian women mostly employed? Ans: Textile and garment industry
  8. What does the Sarva Shiksha Abhiyan (SSA) aim at? Ans: All of the above (Universalisation of elementary education, bridging gender gaps, maintaining standard quality)
  9. What does the Child and Adolescent Labour Act, 2016 prohibit? Ans: All of the above (employment of children under 14 in all occupations, adolescent labour under 18 in hazardous occupations, child labour in domestic work)
  10. Which programme is meant exclusively for women? Ans: STEP (Support to Training and Employment Programme for Women)
  11. India’s population is larger than which country? Ans: USA
  12. Which institution provides micro credit especially to women of India? Ans: Rashtriya Mahila Kosh
  13. Which is a poverty alleviation programme? Ans: MGNREGA Scheme

📅 MISCELLANEOUS

  1. When was the latest population census undertaken? Ans: 2011

WBCS MAIN 2023 P-5 Economics MCQ

🏦 INDIAN ECONOMY (GENERAL)

1. Which of the following recorded highest growth rate in the Tenth Plan?
(A) Agriculture
(B) Services
(C) Manufacturing industry
(D) Mining
Ans: (B) Services

2. India is self-sufficient in all important food items excepting
(A) Sugar
(B) Milk
(C) Oilseeds
(D) Vegetables
Ans: (C) Oilseeds

3. What has been brought in place of the Planning Commission?
(A) NABARD
(B) SEBI
(C) NITI Ayog
(D) National Institute of Planning
Ans: (C) NITI Ayog

4. In the recent years which sector dominates in FDI inflows in India?
(A) Computer Software and Hardware
(B) Chemicals
(C) Tourism
(D) Agriculture
Ans: (A) Computer Software and Hardware

5. Which of the following has registered a high rate of growth since the 1980s?
(A) Capital goods industries
(B) Consumer durable goods industries
(C) Intermediate goods industries
(D) Consumer non-durable goods industries
Ans: (B) Consumer durable goods industries

6. The First Generation Reforms in India was characterised by
(A) Privatisation
(B) Liberalisation
(C) Globalisation
(D) All of the above
Ans: (D) All of the above

7. When was GST imposed?
(A) 2016
(B) 2018
(C) 2017
(D) 2015
Ans: (C) 2017

8. What percentage of India’s work force is engaged in the informal sector?
(A) 90 per cent
(B) 75 per cent
(C) 93 per cent
(D) 85 per cent
Ans: (A) 90 per cent

9. The LPG model of development was introduced in India in the year
(A) 2001
(B) 1991
(C) 1990
(D) 1981
Ans: (B) 1991

10. Which of the following is true about the immediate impact of globalisation initiated in 1991?
(A) Increase in informatisation of the economy
(B) Effective access to foreign markets
(C) Decrease in income inequalities
(D) None of the above
Ans: (A) Increase in informatisation of the economy

11. Inclusive growth is that process of growth
(A) where all people participate and benefit equitably.
(B) where financial inclusion dominates.
(C) where social inclusion dominates.
(D) where poorer people get all the benefits.
Ans: (A) where all people participate and benefit equitably.

12. The largest Employer in India is the
(A) Manufacturing sector
(B) Agricultural sector
(C) Services sector
(D) Informal sector
Ans: (B) Agricultural sector

13. Which sector contributes most to Gross Domestic Product in India?
(A) The Industrial Manufacturing sector
(B) The Agricultural sector
(C) The Tertiary sector
(D) The Mining sector
Ans: (C) The Tertiary sector

14. Which of the following is known as the Diamond City of India?
(A) Hyderabad
(B) Surat
(C) Jaisalmer
(D) Dhanbad
Ans: (B) Surat

15. The impact of first generation economic reforms on employment generation and poverty reduction has
(A) been satisfactory.
(B) been good.
(C) been spectacular.
(D) not been satisfactory.
Ans: (D) not been satisfactory.

16. Which of the following is a reputed software company in India?
(A) Larsen and Taubro
(B) Mahindra and Mahindra
(C) Hindustan Unilever
(D) HCL Technologies
Ans: (D) HCL Technologies

17. Who advocated “Panchayati Raj” system for India?
(A) J.L. Nehru
(B) M.K. Gandhi
(C) V.K.R.V. Rao
(D) Sardar Vallabhbhai Patel
Ans: (B) M.K. Gandhi

18. The Information Technology industry of India has a great potential
(A) to generate foreign exchange earnings.
(B) to generate employment for the masses.
(C) to ensure regional balance in industrial development.
(D) None of the above
Ans: (A) to generate foreign exchange earnings.

💰 BANKING & RESERVE BANK OF INDIA (RBI)

19. Reserve Bank’s monetary policy fails in controlling inflation when inflation is caused by
(A) deficit financing.
(B) shortages of goods.
(C) financing of business by non-bank financial companies.
(D) All of the above
Ans: (B) shortages of goods.

20. Which of the following is the main role of the Reserve Bank of India?
(A) To maintain financial stability
(B) To promote agricultural growth
(C) To promote banking habits among the people of the country
(D) To maintain regional balance in the development of the Indian economy
Ans: (A) To maintain financial stability

21. The legal provisions governing the management of foreign exchange reserves are laid down in the Reserve Bank of India Act
(A) 1947
(B) 1934
(C) 1949
(D) 1999
Ans: (B) 1934

22. According to Reserve Bank directives, the concept of broad money (M₃) is the aggregate of
(A) currency with the public and post office savings deposits.
(B) currency with the public and demand deposits of commercial banks.
(C) currency with the public, demand deposits of commercial banks and time deposits of commercial banks.
(D) currency with the public and time deposits of commercial banks.
Ans: (C) currency with the public, demand deposits of commercial banks and time deposits of commercial banks.

23. Who among the following Prime Ministers of India has also served as the Governor of the Reserve Bank?
(A) P.V. Narasimha Rao
(B) Manmohan Singh
(C) Indira Gandhi
(D) Jawaharlal Nehru
Ans: (B) Manmohan Singh

24. The main focus of selective credit control is on
(A) credit for production and transportation of exportables.
(B) credit for production and transportation of consumables.
(C) credit for hoarding of goods in short supply and speculation in the market for such goods.
(D) credit for production and transportation of hardwares.
Ans: (C) credit for hoarding of goods in short supply and speculation in the market for such goods.

25. Which of the following is a developmental function of the Reserve Bank of India?
(A) Promoting banking habits.
(B) Setting up of specialised financing agencies.
(C) Extending banking facilities to rural and semi-urban areas.
(D) All of the above
Ans: (D) All of the above

26. Which of the following is incorrect? The Reserve Bank of India
(A) influences the regulatory and supervisory standards of the nonbanking financial companies.
(B) stabilises the short term rates of interest or the call rates.
(C) provides rediscounting and borrowing facilities to the co-operative banks.
(D) provides loan facilities to the corporate houses.
Ans: (D) provides loan facilities to the corporate houses.

27. Which of the following is a commercial bank?
(A) Reserve Bank of India
(B) State Bank of India
(C) State Co-operative Bank
(D) None of the above
Ans: (B) State Bank of India

28. Which of the following issues currency notes above denomination of one rupee note?
(A) Union Finance Ministry
(B) Reserve Bank of India
(C) State Bank of India
(D) Union Commerce and Industry Ministry
Ans: (B) Reserve Bank of India

29. The Reserve Bank of India issues currency notes maintaining
(A) a minimum reserve of gold.
(B) a minimum reserve of rupee coins and foreign exchanges.
(C) a minimum reserve of gold and foreign exchanges.
(D) a minimum reserve of bills of exchange and promissory notes payable in India.
Ans: (C) a minimum reserve of gold and foreign exchanges.

30. How do commercial banks create money?
(A) By printing money
(B) By lending a part of its deposits
(C) By issuing ATM cards
(D) By borrowing from the Reserve Bank
Ans: (B) By lending a part of its deposits

31. REPO stands for in repo rate
(A) Reverse Payment Option
(B) Repurchase Option
(C) Rupee Purchase Option
(D) Rupee Payment Option
Ans: (B) Repurchase Option

32. When the Reserve Bank of India conducts open market sale of securities, the cash reserves of the commercial banks
(A) increase.
(B) decrease.
(C) remain constant.
(D) first increase and then fall.
Ans: (B) decrease.

33. The bank rate is the interest rate that
(A) the Reserve Bank charges the nonbank financial intermediaries for lending them money.
(B) the commercial banks charge the business houses for giving them loans.
(C) the Reserve Bank charges the commercial banks for lending them money.
(D) the Foreign Exchange Banks charge the users of foreign exchange.
Ans: (C) the Reserve Bank charges the commercial banks for lending them money.

34. As the bankers’ bank, the Reserve Bank requires every scheduled bank to maintain
(A) cash reserves with it.
(B) gold reserves with it.
(C) gold and foreign exchange reserves with it.
(D) gold and cash reserves with it.
Ans: (A) cash reserves with it.

35. Which of the following the Reserve Bank uses as an anti-inflationary measure?
(A) Decrease in the Bank Rate
(B) Increase in the Bank Rate
(C) Reduction in the Cash Reserve Ratio
(D) Open market purchases of Government securities
Ans: (B) Increase in the Bank Rate

36. What is CRR?
(A) Current Repo Rate
(B) Cash Reserve Ratio
(C) Credit Rating Record
(D) Current Review Report
Ans: (B) Cash Reserve Ratio

37. Which of the following is not a function of the Reserve Bank of India?
(A) Changing the bank rate.
(B) Managing open market operations.
(C) Acting as the lender of the last resort to the commercial banks.
(D) Taking decision regarding the use of deficit financing to close the gap between revenues and expenditures of the Government.
Ans: (D) Taking decision regarding the use of deficit financing to close the gap between revenues and expenditures of the Government.

38. Which of the following monetary policy of the Reserve Bank of India does not aim at?
(A) Maintaining stability in the foreign exchange rates
(B) Promoting financial stability
(C) Ensuring a controlled rate of credit expansion
(D) Ensuring revenue-expenditure balance in the budget of the Central Government
Ans: (D) Ensuring revenue-expenditure balance in the budget of the Central Government

39. In which year was the Reserve Bank of India nationalised?
(A) 1935
(B) 1956
(C) 1949
(D) 1961
Ans: (C) 1949

40. Which of the following fixes the Repo Rate and the Reverse Repo Rate in India?
(A) Ministry of Finance
(B) Reserve Bank of India
(C) Comptroller and Auditor General of India
(D) State Bank of India
Ans: (B) Reserve Bank of India

🌾 AGRICULTURE & RURAL DEVELOPMENT

41. Which of the following is not a part of land reforms in India?
(A) Fixation of ceilings on landholdings
(B) Imposition of tenancy reforms
(C) Consolidation of holdings
(D) Ceilings on the use of machines on farms
Ans: (D) Ceilings on the use of machines on farms

42. MGNREGA mandates participation of women by at least
(A) 50 per cent
(B) 40 per cent
(C) 30 per cent
(D) 33 per cent
Ans: (D) 33 per cent

43. Which of the following programmes helps to promote rural development in India?
(A) Bharat Nirman
(B) Pradhan Mantri Gramin Aawas Yojana
(C) MGNREGA
(D) All of the above
Ans: (D) All of the above

44. The first Green Revolution was launched to ensure
(A) exportable surplus in food production.
(B) food security.
(C) sustainable environment.
(D) technological advancement in agriculture.
Ans: (B) food security.

45. The first Green Revolution in India covered
(A) wheat and rice
(B) pulses
(C) only wheat
(D) only rice
Ans: (C) only wheat

46. Which of the following gives institutional credit to promote sustainable agriculture and rural development?
(A) SBI
(B) RBI
(C) NABARD
(D) SEBI
Ans: (C) NABARD

47. In which year did the agricultural sector register a negative rate of growth?
(A) 1990-1991
(B) 2002-2003
(C) 2003-2004
(D) 2004-2005
Ans: (B) 2002-2003

48. The Minimum Needs Programme was introduced during the
(A) Third Five Year Plan
(B) Eighth Five Year Plan
(C) Fifth Five Year Plan
(D) Ninth Five Year Plan
Ans: (C) Fifth Five Year Plan

💼 FOREIGN TRADE & INVESTMENT

49. In the very recent years which country accounts for the highest inward FDI for India?
(A) USA
(B) Mauritius
(C) Singapore
(D) Japan
Ans: (C) Singapore

50. Which of the following countries has agreed trade in the Indian rupee?
(A) USA
(B) Pakistan
(C) Sri Lanka
(D) Canada
Ans: (C) Sri Lanka

51. India’s Foreign Trade Policy is framed and implemented by
(A) Directorate General of Foreign Trade (DGFT)
(B) Home Ministry
(C) NITI Aayog
(D) Finance Commission
Ans: (A) Directorate General of Foreign Trade (DGFT)

52. GST is imposed on
(A) exports of goods and services.
(B) imports of goods and services.
(C) Both (A) and (B)
(D) Neither (A) nor (B)
Ans: (B) imports of goods and services.

53. India’s foreign exchange reserves have continuously increased since 2000-01 because of
(A) speeding up of economic reforms.
(B) relatively higher interest rates in India compared to rates prevailing in the international capital market.
(C) a strong bullish turn in the Indian stock market attracting foreign institutional investors.
(D) All of the above
Ans: (D) All of the above

54. Which of the following commodities is exported the most from India?
(A) Engineering goods
(B) Readymade garments
(C) Drugs and Pharmaceuticals
(D) Electronic goods
Ans: (A) Engineering goods

55. Indian Rupee is fully convertible in
(A) Current Account
(B) Capital Account
(C) Trade Account
(D) None of the above
Ans: (A) Current Account

56. The Indian textile industry faces competition from
(A) China
(B) South Korea
(C) Japan
(D) All of the above
Ans: (A) China

57. In 2023, which country has emerged as the biggest trading partner of India?
(A) Japan
(B) Bangladesh
(C) United States
(D) South Korea
Ans: (C) United States

58. Which of the following is a major manufactured export item of India?
(A) Textile machinery
(B) Tea
(C) Gems and Jewellery
(D) Steel
Ans: (C) Gems and Jewellery

59. Which of the following goods India import most?
(A) Petroleum Crude
(B) Gold
(C) Organic Chemicals
(D) Computer Hardwares
Ans: (A) Petroleum Crude

60. Rupee has been devalued twice in
(A) 1965 and 1996
(B) 1966 and 1991
(C) 1968 and 1991
(D) 1966 and 1993
Ans: (B) 1966 and 1991

61. Indian investments abroad are mainly in
(A) South-East Asia
(B) South Asia
(C) Europe
(D) USA
Ans: (A) South-East Asia

62. Which of the following was an argument in favour of globalisation in 1991?
(A) Promotion of Foreign Direct Investment
(B) Boosting Agricultural Growth
(C) Alleviation of Poverty
(D) Promotion of Indigenous Technology
Ans: (A) Promotion of Foreign Direct Investment

📊 FIVE YEAR PLANS & PLANNING COMMISSION

63. Why did India have two Sixth Five Year Plans?
(A) Indo-China conflict
(B) Poor monsoon
(C) Balance of payments crisis
(D) Change of power at the Center
Ans: (D) Change of power at the Center

64. What was the reason behind the 1966-69 Plan Holiday?
(A) Two years of drought
(B) Lack of resources
(C) Increase in inflationary pressures
(D) All of the above
Ans: (D) All of the above

65. The Eighth Plan was postponed by two years because of
(A) political changes at the centre.
(B) delay in approval.
(C) foreign exchange crisis.
(D) domestic disturbances at state levels.
Ans: (C) foreign exchange crisis.

66. In which year was the Twelfth Plan completed?
(A) 2014
(B) 2015
(C) 2016
(D) 2017
Ans: (D) 2017

67. The First Five Year Plan was based on the
(A) Mahalanobis model
(B) Nehru model
(C) Harrod-Domar model
(D) Gandhi model
Ans: (C) Harrod-Domar model

68. Finance for the Indian plans was obtained from
(A) Domestic savings
(B) Public borrowing
(C) Deficit financing
(D) All of the above
Ans: (D) All of the above

69. Which of the following was the basic objective of the Twelfth Five Year Plan?
(A) Faster growth
(B) Faster and more inclusive growth
(C) Faster sustainable growth
(D) Faster, more inclusive and sustainable growth
Ans: (D) Faster, more inclusive and sustainable growth

70. Rolling plan covered the period
(A) 1973-78
(B) 1970-75
(C) 1980-85
(D) 1978-83
Ans: (D) 1978-83

71. Who was the last Deputy Chairman of the Planning Commission?
(A) Shri R.P. Sinha
(B) Shri Shyamal Ghosh
(C) Shri Vinay Kohli
(D) Shri Montek Singh Ahluwalia
Ans: (D) Shri Montek Singh Ahluwalia

📈 FINANCE COMMISSION & PUBLIC FINANCE

72. The Finance Commission is constituted by the President every
(A) 10 years
(B) 5 years
(C) 2 years
(D) 12 years
Ans: (B) 5 years

73. Fiscal deficit in the Central Budget of India is
(A) total expenditure minus revenue receipts.
(B) total expenditure minus capital receipts.
(C) revenue expenditure minus revenue receipts.
(D) total expenditure minus total receipts excluding borrowings and other liabilities.
Ans: (D) total expenditure minus total receipts excluding borrowings and other liabilities.

74. Which of the following comes under the Union Budget?
(A) Railways
(B) Municipalities
(C) Panchayats
(D) Posts and Telegrams
Ans: (A) Railways

75. The Finance Commissions of India
(A) evaluate the state of finances of the Union Government only.
(B) recommend the sharing of tax revenues by the Centre and the States.
(C) determine budgetary provisions.
(D) set guidelines for imposition of taxes.
Ans: (B) recommend the sharing of tax revenues by the Centre and the States.

76. Which of the following is not a direct tax in India?
(A) Income tax
(B) Wealth tax
(C) Entertainment tax
(D) Gift tax
Ans: (C) Entertainment tax

77. Which is not an indirect tax in India?
(A) Customs
(B) Excise
(C) Sales tax
(D) Corporate tax
Ans: (D) Corporate tax

78. For most goods and services, the Goods and Services Tax is shared by the Central and the State Governments in the ratio of
(A) 50:50
(B) 40:60
(C) 60:40
(D) 70:30
Ans: (A) 50:50

79. Which of the following is not shared by the Central and the State Governments?
(A) Property tax
(B) Basic Customs duty
(C) Stamp duty
(D) All of the above
Ans: (B) Basic Customs duty

80. Who is the Chairman of the 15th Finance Commission?
(A) C.R. Rangarajan
(B) N.K. Singh
(C) Y.V. Reddy
(D) Bimal Jalan
Ans: (B) N.K. Singh

👥 SOCIAL SECTOR, POVERTY & EMPLOYMENT

81. MGNREGA mandates participation of women by at least
(A) 50 per cent
(B) 40 per cent
(C) 30 per cent
(D) 33 per cent
Ans: (D) 33 per cent

82. Which of the following is not a poverty alleviation programme?
(A) Integrated Rural Development Programme
(B) Ayushman Bharat Yojana
(C) Pradhan Mantri Gramin Awas Yojana
(D) National Rural Livelihood Mission
Ans: (B) Ayushman Bharat Yojana

83. Which of the following states has the highest infant mortality rate in India?
(A) Madhya Pradesh
(B) Uttar Pradesh
(C) Odisha
(D) West Bengal
Ans: (A) Madhya Pradesh

84. The first Act addressing the issue of Child Labour was passed in
(A) 1950
(B) 1938
(C) 1986
(D) 2016
Ans: (C) 1986

85. Which of the following is a recently framed labour code of the Government of India?
(A) Code on wages
(B) Industrial relations code
(C) Code on social security
(D) All of the above
Ans: (D) All of the above

86. The majority of child labour in India work in
(A) Agriculture
(B) Manufacturing industries
(C) Construction
(D) Hotels and restaurants
Ans: (A) Agriculture

87. In which of the following industries Indian women are mostly employed?
(A) Textile and garment industry
(B) Jute industry
(C) Sugar industry
(D) Paper industry
Ans: (A) Textile and garment industry

88. The Sarva Shiksha Abhiyan (SSA) aims at
(A) universalisation of elementary education.
(B) bridging of gender gaps in education.
(C) maintenance of a standard quality of education.
(D) All of the above
Ans: (D) All of the above

89. The Child and Adolescent Labour (Prohibition and Regulation) Act, 2016
(A) prohibits the employment of children under 14 years in all occupations.
(B) prohibits the employment of adolescent labour under 18 years in all hazardous occupations.
(C) prohibits the use of child labour in domestic work.
(D) All of the above
Ans: (D) All of the above

90. Which of the following programmes is meant exclusively for women?
(A) ICDS
(B) STEP
(C) MGNREGA
(D) NRHM
Ans: (B) STEP

91. India’s population is larger than that of
(A) USA
(B) China
(C) Indonesia
(D) All of the above
Ans: (A) USA

92. Which of the following provides micro credit especially to women of India?
(A) Grameen Bank
(B) Rashtriya Mahila Kosh
(C) NABARD
(D) National Mission for Empowerment of Women
Ans: (B) Rashtriya Mahila Kosh

93. Which of the following is a poverty alleviation programme?
(A) MGNREGA Scheme
(B) Bharat Nirman
(C) SSA
(D) NRHM
Ans: (A) MGNREGA Scheme

📅 MISCELLANEOUS

94. The latest population census was undertaken in
(A) 2011
(B) 2021
(C) 2022
(D) 2010
Ans: (A) 2011