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We are providing aspirants the Indian Economy Online Test that contains different questions based on the given concept. Indian Economy Quiz helps to face the competitive exams, which plays a very prominent role in candidates career. Meanwhile, they can also face these type of competitive examinations by practicing more and more the given Indian Economy Gk Questions And Answers.
Indian Economy Quiz Details
| Quiz Name | Indian Economy |
| Category | GK |
| Number of Questions | 25 |
| Time | 30 Minutes |
| Exam Type | MCQ (Multiple Choice Questions) |
Indian Economy Online Test
1. Who is the current Governor of the Reserve Bank of India?
a) Shaktikanta Das
b) Raghuram Rajan
c) Urjit Patel
d) Duvvuri Subbarao
Answer: a) Shaktikanta Das
Explanation: Shaktikanta Das is the current Governor of the Reserve Bank of India, serving since December 2018.
2. What is the current GDP growth rate of India?
a) 4.5%
b) 6.5%
c) 8.5%
d) 10.5%
Answer: b) 6.5%
Explanation: As of 2021, the current GDP growth rate of India is 6.5%.
3. What is the currency of India?
a) Dollar
b) Euro
c) Rupee
d) Yen
Answer: c) Rupee
Explanation: The currency of India is the Indian Rupee.
4. Which sector contributes the most to the GDP of India?
a) Agriculture
b) Manufacturing
c) Services
d) Mining
Answer: c) Services
Explanation: The services sector contributes the most to the GDP of India, accounting for over 50% of the total GDP.
5. Who is the current Finance Minister of India?
a) Piyush Goyal
b) Nirmala Sitharaman
c) Arun Jaitley
d) Pranab Mukherjee
Answer: b) Nirmala Sitharaman
Explanation: Nirmala Sitharaman is the current Finance Minister of India, serving since May 2019.
6. What is the current inflation rate in India?
a) 2.5%
b) 4.5%
c) 6.5%
d) 8.5%
Answer: b) 4.5%
Explanation: As of 2021, the current inflation rate in India is 4.5%.
7. What is the name of the largest stock exchange in India?
a) Bombay Stock Exchange (BSE)
b) National Stock Exchange (NSE)
c) Calcutta Stock Exchange (CSE)
d) Madras Stock Exchange (MSE)
Answer: b) National Stock Exchange (NSE)
Explanation: The National Stock Exchange (NSE) is the largest stock exchange in India by market capitalization.
8. What is the name of India’s largest bank by assets?
a) State Bank of India (SBI)
b) ICICI Bank
c) HDFC Bank
d) Axis Bank
Answer: a) State Bank of India (SBI)
Explanation: State Bank of India (SBI) is the largest bank in India by assets.
9. What is the current repo rate in India?
a) 3.25%
b) 4.00%
c) 4.25%
d) 4.50%
Answer: c) 4.25%
Explanation: As of 2021, the current repo rate in India is 4.25%.
10. What is the name of India’s largest tax reform that was introduced in 2017?
a) GST (Goods and Services Tax)
b) VAT (Value Added Tax)
c) Income Tax
d) Excise Tax
Answer: a) GST (Goods and Services Tax)
Explanation: GST (Goods and Services Tax) is the largest tax reform introduced in India in 2017, unifying various indirect taxes and simplifying the tax system.
11. Which Indian state is the largest producer of rice?
a) Uttar Pradesh
b) West Bengal
c) Punjab
d) Andhra Pradesh
Answer: d) Andhra Pradesh
Explanation: Andhra Pradesh is the largest producer of rice in India, accounting for around 23% of the total rice production in the country.
12. What is the name of India’s national income accounting system?
a) GDP (Gross Domestic Product)
b) GNP (Gross National Product)
c) NDP (Net Domestic Product)
d) NNP (Net National Product)
Answer: a) GDP (Gross Domestic Product)
Explanation: GDP (Gross Domestic Product) is India’s national income accounting system that measures the total economic output of the country.
13. What is the name of India’s first indigenously built supercomputer?
a) Param
b) SAGA-220
c) Anupam
d) FLOPS
Answer: a) Param
Explanation: Param is India’s first indigenously built supercomputer, developed by the Centre for Development of Advanced Computing (C-DAC).
14. What is the name of India’s first satellite?
a) Aryabhata
b) Bhaskara
c) Rohini
d) INSAT-1B
Answer: a) Aryabhata
Explanation: Aryabhata is India’s first satellite, launched in 1975.
15. Which Indian state has the highest per capita income?
a) Maharashtra
b) Gujarat
c) Haryana
d) Punjab
Answer: c) Haryana
Explanation: Haryana has the highest per capita income among all Indian states, according to the latest data.
16. What is the name of India’s largest IT services company?
a) Infosys
b) TCS (Tata Consultancy Services)
c) Wipro
d) Cognizant
Answer: b) TCS (Tata Consultancy Services)
Explanation: TCS (Tata Consultancy Services) is India’s largest IT services company by revenue and market capitalization.
17. What is the name of India’s largest natural gas company?
a) GAIL (Gas Authority of India Limited)
b) ONGC (Oil and Natural Gas Corporation)
c) Reliance Industries
d) Essar Oil
Answer: a) GAIL (Gas Authority of India Limited)
Explanation: GAIL (Gas Authority of India Limited) is India’s largest natural gas company, responsible for the transmission and marketing of natural gas in the country.
18. Which Indian city is known as the ‘Silicon Valley of India’?
a) Hyderabad
b) Mumbai
c) Chennai
d) Bangalore
Answer: d) Bangalore
Explanation: Bangalore is known as the ‘Silicon Valley of India’ due to its high concentration of information technology companies and startups.
19. What is the name of India’s largest oil refinery?
a) Jamnagar Refinery
b) Mathura Refinery
c) Barauni Refinery
d) Panipat Refinery
Answer: a) Jamnagar Refinery
Explanation: Jamnagar Refinery is India’s largest oil refinery, owned and operated by Reliance Industries.
20. Which Indian state is the largest producer of coal?
a) Jharkhand
b) Chhattisgarh
c) Odisha
d) Madhya Pradesh
Answer: b) Chhattisgarh
Explanation: Chhattisgarh is the largest producer of coal in India, accounting for around 17% of the total coal production in the country.
21. What is the name of India’s national rural employment guarantee scheme?
a) Pradhan Mantri Jan Dhan Yojana
b) Pradhan Mantri Gramin Awaas Yojana
c) Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)
d) Swachh Bharat Abhi
Answer: c) Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)
Explanation: MGNREGA is India’s national rural employment guarantee scheme, aimed at providing 100 days of guaranteed wage employment to every household in rural areas.
22. What is the name of India’s stock exchange for small and medium-sized enterprises?
a) National Stock Exchange (NSE)
b) Bombay Stock Exchange (BSE)
c) MCX-SX
d) NSE Emerge
Answer: d) NSE Emerge
Explanation: NSE Emerge is India’s stock exchange for small and medium-sized enterprises, providing a platform for them to raise capital through public listings.
23. Which Indian state has the highest literacy rate?
a) Kerala
b) Tamil Nadu
c) Andhra Pradesh
d) Maharashtra
Answer: a) Kerala
Explanation: Kerala has the highest literacy rate among all Indian states, according to the latest data.
24. What is the name of India’s largest public sector bank?
a) State Bank of India (SBI)
b) Punjab National Bank (PNB)
c) Bank of Baroda (BOB)
d) Canara Bank
Answer: a) State Bank of India (SBI)
Explanation: State Bank of India (SBI) is India’s largest public sector bank by assets, deposits, and branches.
25. What is the name of India’s largest port by cargo volume?
a) Jawaharlal Nehru Port Trust (JNPT)
b) Chennai Port
c) Visakhapatnam Port
d) Kolkata Port
Answer: a) Jawaharlal Nehru Port Trust (JNPT)
Explanation: Jawaharlal Nehru Port Trust (JNPT) is India’s largest port by cargo volume, handling around 50% of the total container traffic in the country
Well, this article will provide you the concept of Indian Economy. Furthermore, details like Indian Economy General Knowledge Questions And Answers which will assist you up to the mark. This quiz helps us to crack various competitive exams like SSC, IBPS, Civil Services, Railways, etc.; Here we provide quiz which helps to crack the competitive exams in an easy manner through which candidate can rate themselves. So, the candidates don’t be late in facing the examinations. Moreover, Spend some short time with us and good results. Look at the below post
About Indian Economy
It is a developing mixed economy. Its economy is sixth largest by nominal GDP and third largest by PPP(purchasing power parity) in the world. The growth of the this is positive due to the young population, low dependency ratio, healthy savings and investment rates. Soviet Union’s practices post-independence highly inspired by this.
It is essential to understand the economic system of India during the British rule. During the British rule, the economy of India became a net raw material supplier, and a net importer of finished products and no British economist attempted to measure the per capita income and national income of India.
Primary sector: In fact, the economic activity depends mainly on the exploitation of natural resources, fishing, mining, and extraction of oil and gas, agriculture and its related activities.
Secondary sector: It involves manufacturing and Industrial production of physical goods.
Tertiary sector: It involves providing the intangible goods like services, attention, advice, experience, and discussion. Telephony and IT are good examples of the service sector.
Goals of the five-year plan include like Growth, Equity, Modernisation, Self-Reliance. Key things in the Indian economy are Economic and population growth, demonetization had mixed success and working employment for women.
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