Indian Economy GK Quiz Questions with Answers

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Indian Economy GK Quiz Questions with Answers

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Here Are Some Indian Economy GK Quiz Questions with Answers

What is the main source of revenue for the Indian government?
Answer: Taxation.
Explanation: Taxes are the primary source of revenue for the Indian government, which is then used for the development of the country.

What is the name of India’s central bank?
Answer: Reserve Bank of India (RBI).
Explanation: The RBI is the central bank of India and responsible for regulating the country’s monetary policy.

What is the abbreviation for Goods and Services Tax in India?
Answer: GST.
Explanation: GST is a unified tax system that replaced multiple indirect taxes in India.

What is the term used to describe the total value of goods and services produced in a country in a year?
Answer: Gross Domestic Product (GDP).
Explanation: GDP is used to measure the economic growth and development of a country.

What is the name of India’s largest stock exchange?
Answer: Bombay Stock Exchange (BSE).
Explanation: BSE is the oldest and largest stock exchange in India.

What is the full form of FDI?
Answer: Foreign Direct Investment.
Explanation: FDI refers to the investment made by foreign entities into Indian companies or businesses.

What is the currency of India?
Answer: Indian Rupee (INR).
Explanation: INR is the official currency of India.

What is the name of the government’s flagship financial inclusion program?
Answer: Pradhan Mantri Jan Dhan Yojana (PMJDY).
Explanation: PMJDY is a national mission for financial inclusion launched by the government of India in 2014.

What is the name of India’s largest public sector bank?
Answer: State Bank of India (SBI).
Explanation: SBI is the largest public sector bank in India, with a wide network of branches across the country.

What is the name of India’s national income tax department?
Answer: Income Tax Department.
Explanation: The Income Tax Department is responsible for collecting income tax from individuals and businesses in India.

What is the name of India’s national insurance company?
Answer: Life Insurance Corporation of India (LIC).
Explanation: LIC is a state-owned insurance company and the largest in India.

What is the name of India’s largest oil company?
Answer: Indian Oil Corporation Limited (IOCL).
Explanation: IOCL is the largest oil company in India, with operations across the country and abroad.

What is the name of India’s national investment promotion and facilitation agency?
Answer: Invest India.
Explanation: Invest India is the official investment promotion and facilitation agency of the government of India.

What is the name of the tax levied on goods and services that are exported from India?
Answer: Export Duty.
Explanation: Export duty is a tax levied on goods and services that are exported from India to other countries.

What is the name of the program launched by the Indian government for the development of rural infrastructure?
Answer: Pradhan Mantri Gram Sadak Yojana (PMGSY).
Explanation: PMGSY is a national program launched by the government of India for the development of rural roads and infrastructure.

What is the name of India’s largest automobile manufacturer?
Answer: Maruti Suzuki India Limited.
Explanation: Maruti Suzuki is the largest automobile manufacturer in India, with a market share of over 50%.

What is the name of India’s national payment gateway?
Answer: National Payments Corporation of India (NPCI).
Explanation: NPCI is the national payment gateway for India, responsible for processing digital payments across the country.

What is the name of the government program launched in 2015 aimed at boosting entrepreneurship in India?
Answer: Startup India
Explanation: Startup India is a government initiative launched in 2015 to promote entrepreneurship in India by providing various incentives and support to startups.

Which Indian state has the highest per capita income?
Answer: Goa
Explanation: According to the latest data, Goa has the highest per capita income among all Indian states.

What is the name of India’s national income accounting system?
Answer: System of National Accounts (SNA)
Explanation: System of National Accounts (SNA) is the framework used in India to measure and analyze national income, production, and expenditure.

What is the current inflation rate in India as of 2023?
Answer: The current inflation rate in India as of 2023 is not available yet as it is subject to change.
Explanation: Inflation rate refers to the rate at which the general level of prices for goods and services is rising, and it is subject to change depending on various economic factors.

Which Indian city is known as the financial capital of India?
Answer: Mumbai
Explanation: Mumbai is widely regarded as the financial capital of India, as it houses the headquarters of various major Indian banks and financial institutions.

What is the name of the monetary policy committee of the Reserve Bank of India?
Answer: Monetary Policy Committee (MPC)
Explanation: Monetary Policy Committee (MPC) is the committee of the Reserve Bank of India responsible for fixing the benchmark interest rate in India.

What is the name of the Indian government’s flagship healthcare scheme launched in 2018?
Answer: Ayushman Bharat
Explanation: Ayushman Bharat is the Indian government’s flagship healthcare scheme launched in 2018, which aims to provide health insurance coverage to vulnerable sections of the population.

What is the name of the Indian government’s flagship financial inclusion program?
Answer: Pradhan Mantri Jan Dhan Yojana
Explanation: Pradhan Mantri Jan Dhan Yojana is the Indian government’s flagship financial inclusion program launched in 2014, aimed at providing basic banking services to every household in India.

Which Indian city is home to the headquarters of the Securities and Exchange Board of India (SEBI)?
Answer: Mumbai
Explanation: Mumbai is home to the headquarters of the Securities and Exchange Board of India (SEBI), the regulator for the securities market in India.

What is the name of the Indian government’s flagship program aimed at providing employment to rural households?
Answer: Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)

Explanation
The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is a social welfare scheme launched by the Indian government in 2005. It is the world’s largest public works program aimed at providing employment and livelihood security to rural households in India. Under this scheme, the government guarantees 100 days of wage employment to every rural household whose adult members volunteer to do unskilled manual work. The program aims to enhance the livelihood security of rural people by creating durable assets, protecting the environment, and promoting sustainable development. MGNREGA has been successful in providing employment opportunities to millions of rural households and has played a significant role in reducing rural poverty and migration.