CHAPTER 4

Indian Economy
outlineof Indian Economy .Basic Aim of Economic Planning is to bring rapid
he economy of India is the 6th largest in the world by nominal economic growth through agriculture, industry, power
and all other sectors of the economy.
DP and 3rd largest by Purchasing Power Parity (PPP).
Nature of the Indian Economy
.Planning Commission (1950) was set up under the
Chairmanship of Pt Jawaharlal Nehru (Gulzarilal Nand
) Mixed Economy Existence of both public and private was the first Deputy Chairman)
sectors. This term was coined by Pat Mullins and
Historical Milestonees
supported by JM Keynes.
(i) Agrarian Economy Even after six-decades of Planned Economy of India (1934) M Visvesvaraya
independence 58% of the workforce of India is still National Planning Committee (1938) Jawaharlal Nehru
agriculturist and its contribution to GDP is approx Bombay Plan (1944)
15% in 2016-17. Gandhian Plan (1944) SN Agarwal
People's Plan (1945) MN Roy
Broad Sectors of Indian Economy
Sarvodaya Plan (1950) JP Narayan
rimary Sector Agriculture, forestry and fishing.
econdary Sector Mining, manufacturing, electricity, gas NITI Aayog
nd water supply and construction. Planning commission has been dissolved and replace by
Tertiary Sector (also called service sector) business, new institution NITI Aayog (National Institution for
ransport, telecommunication, banking insurance, real Transforming India) by Modi Government. Aayogisa
statecommunity and personnel services. policy think-tank of Government. it is headed by Prime
Ministerof India.

Planning in India .The first estimate of National Income was prepared by

Economic Planning is mentioned in the Concurrent

Dadabhai Naoroji and per capita income was
20 in 1870. The first scientificestimate was made by
calculated
List of VII Schedule of the Indian Constitution and Prof. VKRV Rao using output and income methods for
embodies the objectives of Directive Principles of State
the year 1931-32.
Policy
Five Year Plans: At a Glance
Growth Rate
Emphasis of Plan
Plan Target Achieved
1/3rd of total expenditure kept aside for agricultural development. .1% 3.6%
First Plan (1951-56)
5ased on Herold-Domar Model)
objective was rapid industrialization. Three big
industries were established at Bhillai 4.5% 4.1%
Second Plan (1956-61) Its
(USSR); Durgapur (UK) and Rourkela (West Germany)
Based on PC Mahalanobis two
Sector model) Locomotive factory at Chittaranjan and Coach factory at Perambur were

established.

was the goal; Indian economy entered the

Third Plan (1961-66) Self-reliant and self-generating economy 5.6% 2.8%
take-off stage; continued emphasis on heavy and basic industries
This plan is also called Gadgil Yojana.
Plan Holiday (1966-69) formulated on accOunt of Indo-Pak Conflict, two successive years of drought, devolution of
and Three Annual Plans
were

ency by 36% and general rise in prices.

 Constable (GD)
RecruitmentEx
xam
GuideSsC
SelfStudy
50 Growth Rate

Emphasis of Plan
Target Achievec
5.7% 3.3%
Plan
achievement of self-reliance n
Growth with stability and progressive of this plan.
Tnis
a
Fourth Pian (1969-74) Hatao were the main objectives
Justice and Garibi 4.4% 4.8%
rowth with
also called as Gadgel Formula.

DP Dhar formulated it
Fifth Plan (1974-79) was a Rolling
of self-reliance. The Sixth Plan
Removal of poverty and attainment (1978-83).
formulated the Sixth Plan
before in 1978 and
the Firth Plan one year
ce 5.2% 5.7%
and industry,
Plan (Gunar Mrdal infrastructure for both agriculture
through strengthening of
Sixth Plan 1980-85) Hemoval of poverty
participation at local level. 5.0% 6.0%
nvolved people's
of this plan.
the main objectives
Food, work and productivity were
Seventh Plan (1985-90) Therefore, from 1990-92, Annual Plans were rormulated.
situations at the Centre. 68%
not take-off due to tast changing in political
common man.
5.6%
Egnth Pian couid and improve life quality of the
o provide a new dynamism to the economy
Eighth Plan (1992-97)
Based on Liberal'sation. The planning became indicative and facilitative
Privarisaton and Gobalksation
Mooel or Narsimham Mohen Mode) 6.5% 5.400
Growth with social justice and equality.
Ninth Plan (1997-2002) for the failure of the
Ninth
international economy was held and responsible
ihe recession in
Plan.
8 % 7.6%
It targetted a GDP growth rate of 8% per annum.
Tenth Pian (2002-07) with the aim to achieve
social and monitorable targets
he
plan Set certain equity-related
overall well-being of individuals.
MTA of 11th Plan revised it to 8.1%.

TOwards faster and more inclusive growth, increasing the growth rate in agriculture, industry 9% 7.9%
Eleventh Plan (2007-2012)
and services to 4.1%, 10% and 9%, respectively.
rate in agriculture, 8%
Twelfth Plan (2012-2017) Towards faster, sustainable and inclusive growth, increasing the growth
industry and services to 4%, 9.6% and 10% respectively.

National Income CSO and NSSO

I n 1951, Central Statistical Organisation (CSO) was constituted to
National Income is the net value of all the final goods
publish National Income data.
financial
and services produced in a country during a
National Sample Survey Orgarnisation NssO was set-up in 1950, for
year. It is a flow concept. conducting large scale sample survey to meet the data needs of the
In India the financial year is from 1st April to 31st country for the estimation of National Income and other aggregates.

March. The National Income is calculated annually. Indian Tax Structure

National Income is the measurement of the
Direct Tax The term direct tax generally means a tax paid
production power of an economic system in given
a
directly to the government by the persons on whom it is imposed.
time period.
Indirect Tax An indirect tax is a tax collected by an
Sross Domestic Product (GDP) intermediary from the person who bears the ultimate
value of goods
all final and economic burden of the tax.
t is the total moneywithin the geographical
services produced of GST (Goods and Services Tax)
boundaries of the country during given period
a
The Goods and Service Tax (GST) has been
1st July, 2017. It incorporates many of the implemented from
ime.
indirect taxes levied
Gross Value Added (GVA) by states and the Central Government. Some of the taxes GST
It is
a measure of the value of goods and services replaced include sales tax, Central Excise Duty, Octroi, Service
in an area, industry or sector of an economy.
tax etc. GST has three
components:
produced
In national accounts, GVA is output minus .CGST (Central Goods and Services Act)
intermediate consumption, it is a balancing item of the .SGST (State Goods and Services Act)
national accounts' production account. .IGST (Integrated Goods and Services Act)
 ndian Economy

Programme/Measure Launch Year

Poverty
Mission
Poverty is a social phenomenon wherein section of Shyama Prasad Muktherji Rurban 2015
Pradhan Mantri Krishi Sinchayee Yojana 2015
SOciety is unable to fulfil even its basic necessities of life.
In India, the poverty line is defined on the basis of calorie Start-up and Stand-up Yojana 2016
intake. According to this, 2100 calories a day has been Pradhan Mantri Fasal Bima Yojana 2016
fixed for urban areas and 2400 calories in rural areas. Ujala Yojana 2016
SWAYAM (Study Webs of Active- Learning for Young 2016
Unemployment
Aspiring Minds)
An economic condition marked by the fact that Pradhan Mantri Garib Kalyan Yojana 2016
individual actively seeking jobs remain unemployed. Pradhan Mantri Vaya Vandana Yojana 2017
is
Unemployment expressed percentage of the total 2017
as a
Pradhan Mantri Matritva Vandana Yojana
available workforce. The level of unemployment varies Pradhan Mantri Sahaj BijliHar Ghar Yojana 2017
with economic conditions and other circumstances. Rashtriya Vayoshri Yojana 2017
In India, a person working 8 hours a day for 273 days of Saubhagya Yojana 2017
the year is regarded as employed on a standard person 2017
vear basis.
UDAN Scherme
Gobardhan Scheme 2018
Socio-Economic Programmes Kisan Samman Nidhi 2019

Launch Year PM Sharam Yogi Marndhan Yojana 2019

Programme/Measure 2019
Employment Guarantee Scheme 1972-73 PM Kisan Saman Nidhi Yojana
1975 PM Garib Kalyan Yojana 2020
Twenty Point Programme
2020
Integrated Rural Development Programme-{lRDP) 1980 PM Svanidhi Yojana
1980 Women Empowerment and Child Development
National Rural Employment Programme (BREP)
1985
Indira AwaasYojana Programme Year
1989
Jawahar Rozgar Yojana 1975
1989 ICDS
Nehru Rozgar Yojana 1993
Mid-Day Meal Scheme 1995
MPLAD Programme 1993 Swadhar
1995

Rural Landless Employment Guarantee Programme 1997 Swayam Sidha 2001

Swama Jayanti Shahri Rozgar Yojana and Employment Programme 2003-04
1999 Support to Training
Swarna Jayanti Gram Swarozgar Yojana for Women (STEP)
2000
Pradhan Mantri Gramodaya Yojana 2007
2000 Ujwala 2008
Pradhan Mantri Gram Sadak Yojana Dhanlaxmi
2001 2009-10
Sampoorna Grameen Rozgar Yojana Integrated Child Protection Scheme
2005 2010
Bharat Nirman Sabla Scheme
2005 2010
Jawaharlal Nehru National Urban Renewal Mission
National Mission for Empowerment of Women
Act 2006 2011
Mahatma Gandhi National Rural Employment Bal Bandu Scheme
(MGNREA) 2015
2008 Sukanya Samriddhi Yojana
Prime Minister Employment Generation Programme 2009 Surakshit Matrav Yojana (SUMAN)
2019
Programme
Mahatrma Gandhi National Rural Employment 2011
National Rural Livelihood Mission (NRLM)
2012 Industries
Nirmal Bharat Abhiyan
2014 Industrial Policies
SwachhBharat Abhiyan 2014 launched in 1948, 1956, 1977,
Beti Bachao Beti Padhao Industrial policies w e r e
2015
1980 and 1991.
Pradhan Mantri Jan Dhan Yojana 2015 Economic Constitution
Atal Pension Yojana
.Industrial Policy 1956 is called
Digital India Programme
2015
of India and gave public sector the strategic edge.
2015 and commercial autonomy
National Skill Development Mission To impart greater managerial and Miniratnas
and Augmentation
Yojana 2015 to the PSEs, the concept of Navratnas
Development
AY Hertage City 2015 was started in 1997.
Smart City Mission 2015 Miniratnas
Mission for Rejuvenation
and Urban
Maharatnas, Navratnas and
(Atal autonomy
T and commercial
ransformation) 2015 To impart greater managerial Navratna and
Yojana
dhanmantri Jeevan Jyoti Beema
Maharatna.
2015 the PSEs, the concept of
Yojana
Fradhanmantri Suraksha Beema Miniratna was started.
 Study Guide SSc Constable (GD) Recruitment Exa.
Navratnas Bharat
NALCO, National Electronics
Mineral
Ltd. HAL,
PHCL, MTNL,
Development
Nevyeli Lignite Company Ltd. Oil Corporation. Indradhanush Scheme 20155
company Ltd. India Ltd. Power This is for the banking reforms in India. The 7
Finance key
Rashtriya Ispat Nigam Ltd. Rural ofIndradhanush Mission include appointments reform
Corporation Ltd. Electrification
Shipping Corporation
CCIL, EIL and NBCCL.
de-stressing, capitalisation, empowerment, framework of

of India Ltd. accountability, governance reforms and bank board bureau

Miniratnas Public Sector 15th Finance Commission
made profit
continuously Enterprises
for the last (PSEs) thåt have The 15th
finance Commission was constituted in
anet three years
profit 7 30 crore
of
or more in
or earned accordance with the Articles 270, 275 and 280 of
the
At one of three
present there are 56 in years. Indian Constitution.
II. NEEPCO is newly added category I and 17 in category .The first finance commission was
miniratna in
category I. and the 15th Finance headed by KC Neogi
Commission is headed NK by Singh
Banking and Finance Financial Institution
Banking in India Reserve Bank of India (RBI)
1949
.First purely SBI
(1894). A
Indian bank is the Punjab National Bank UTI and IDBI
1955
step towards 'social 1964
the nationalisation of
14
banking' was taken with NABARD
19th July, 1969. Six more Commercial Banks on SIDBI
1982
banks were nationalised on 1990
1980. Although there are 19
IDBI is consider nationalised bank of India. Stock Exchange of India
only as nationalised
Bank. A Stock
With the merger of Bank of Rajasthan with Exchange provides services for brokers and
Bank, the number of old the ICICI traders trade stocks, bonds, and other
to
securities.
reduced, 14. private sector banks is now The Bombay Stock Exchange (BSE) is a stock exchange
.In located on Dalal Street, Mumbai and is
2017,
the five associates bank were the oldest
merged into SBI.
Bharatiya Mahila Bank was also exchange in Asia. The BSE has the largest number stockof listed
merged with SBI. companies in the world. It is called 'BSE 35' also.
The RBl and Credit Control The National Stock
Exchange (NSE) is the 16th largest
stock exchange in the world. It is
Quantitative/General Credit Control situated in Mumbai.
It is used to control the volume of credit and indirectly
control the inflationary and
Agriculture Revolutions
1. Cash Reserve Ratio
deflationary pressures. These are Dr M S Swaminathan is called the 'Father of Green
Revolution'.
2. Statutory Liquidity Ratio (SLR) Yellow Revolution Oilseeds
3. Repo Rate White Revolution Milk
4. Réverse Repo Rate Black Revolution Petroleum Production
5 Bank Rate Red Revolution Meat and Tomato Production
Functions of the RB Round Revolution Potato
The functions of the RBI, today can be categorized as follows Silver Fiber Revolution Cotton
Monetary Policy Blue Revolution Fish
Regulation and supervision of the banking and non-banking Pink Revolution
financial institutions, including credit in'ormation companies Shrimp
State Governments
Grey Revolution Wool
Debt and cash management for Centre and
Foreign exchange Evergreen Revolution Overall development of
Management of foreign exchange reserves.
management-current and capital account management
Agriculture
Banker's banks Green Revolution
Foodgrains
Banker to the Centre and State Governments Golden Revolution Horticulture
Oversight of the payment and settlement systems
Silver Revolution Egg and Poultry
Currency management Brown Revolution Cocoa
Development role Rainbow Revolution
Research and statistics Amalgamation of all above
revolutions
ndian Economy 53

ricolour Revolution Distribution of Population, Sex Ratio, Density

and Decadal Growth Rate of Population : 2011
Saffron Energy Revolution for solar energy
White Revolution for cattle welfare Total Sex Decadal
State/UT
Population Ratio Density Growth Rate
Blue Revolution for river and sea.
State
Population in India (2011) 84665533 992 308 11.10
Andhra Pradesh
otal Population 1210854977 Arunachal Pradesh 1382611 920 17 25 92

Male 623724248 (51.54%) 31169272 954 397 1693

Assam
emale 586469174 (48.46%) 103804637 916 1102 2507
Bihar
Density 382 per sq. km 25540196 991 189 22 59
Chhattisgarh
Adult Sex Ratio 943
Goa 1457723 968 394 8.17
Child Sex Ratio 914 918 308 19.17
Gujarat 60383628
Largest and the Smallest States/UTs (in Population) 25353081 877 573 19.90
Haryana
Himachal Pradesh 6856509 974 123 1281
Top States/UTs Bottom States/UTs
Utar Pradesh 199281477 Lakshadweep 64429
Jammu and Kashmir 12548926 883 124 23.71
Jharkhand 32966238 947 414 22.34
Maharashtra 112372972 Daman and Diu 442911
Karnataka 61130704 968 319 15.67
Bihar 103804637 Dadra and Nagar 342853
Haveli Kerala 33387677 1084 859 4 86

Nest Bengal 91347736 Andaman and Nicobar 379944 Madhya Pradesh 72597565 930 236 20.30
Islands
Maharashtra 112372972 925 365 15.99
Andhra Pradesh 84665533 Sikkim 607688
2721756 987 122 18.65
Manip
Literacy Rate (2011) 986 132 27 82
Meghalaya 2964007
2011 (%)
Mizoram 1091014 975 52 22.7
74.04 0.47
Persons Nagaland 1980602 931 119
ales 82.14 978 269 13.97
Odisha 41947358
65.4 13.73
FemaleS 27704236 893 550
Punjab
States/Uts (according to Literacy) 68621012 926 201 21 44
Rajasthan
Bothom Sikkim 607688 889 86 12.36
Top States/Uts (in%) (in%)
States/Uts 995 555 15 60
Tamil Nadu 72138958
93.91 Bihar 63.82 350 14.75
Kerala Tripura 3671032 961
92.28 Arunachal Pradesh 66.95 20.09
Lakshadweep Uttar Pradesh 199581477 908 828

1.58 Rajasthan 67.0

Mizoram Uttarakhand 10116752 963 189 19.17
7.75 Jharkhand 67.63 1393
ipure West Bengal 91347736 947 1029
Andhra Pradesh 66
750 1054686 818 9252 17.10
Chandigarh
Sex Ratio NCT of Delhi 16753235 866 11297 20 96

2011 Daman and Diu 242911 618 2169 53.54

55.50
Population (in mn) Proportion (in %) Dadra and Nagar 342853 775 698
51.51 Haveli
Males 623.7 2013 6.23
586.4 48.4 Lakshadweep 64429 946
Females 27.7
943 Puducherry 1244464 1038 2598
Adult Sex Ratio 668
52 24 Andaman and 379944 878 46
Males 82.9
47.76 Nicobar lslands
758
Females India 943 382 17.7
Child Sex Ratio
914 121,08,54,977
Outline of Indian
Economy 24. Whi h ot the ullwingi telated
1. An ) Canital tmation
oconomy which does not have ()Sizeo the narke semnday netor
any relation with the rest of the A l l of the atxwe Manitactmung ) aneot
world is known as (c) hate ) All of th s
12. National movme is generated om
(a) socialist econonmy
any mOney marking activity 25. Sevir sevtr (Iertiauy seior)
ciosed economy )any kaborious actvity ineludes
Copen economy (a) trate
() mixed economy ()any phofit making activity
()tianspNNt
2. Which of the (d)any poductive activity
following coonomists
is called the Father of 13. Who among the following first
(c) aaltth and education
All ot the above
Economics? made evnomic planning for India
(a) Malthus
(c) Ricardo
)Robinson (a)MNRoy National Income
Adam Smith (o) Dadabhai Naoroji
3. The Rolling Plan concept in Nation 26. Goss domestic product is a
M Vishveshwarya
planning was introduced by (d) Jawaharlal Nehru measure of
(a) Indira Gandhi Government (a)acountry's financkal positon
() The National Govemment 14. Planned Economy of ndia' was ( ) a country's inndustrial output
The Janata Party Govemment written by (c) a country's intermational econ
(d) Rajiv Gandhi Govemment M Vishveshwarya activities
) Dadabhai Naoroji a country's domestic econom
4. The Government of India has (c) Shriman Narayan activities
established NITI Aayog to replace the (d) Jawaharlal Nehnu 27. Which Yojana was launehed in
(a) Human Rights Commission
15. Bombay Plan'' was prepnri in 19M3 Dy 2017
(b) Finance Commission
(c) Law Commission (a)MN Roy (a) Uij:awala Yojpna
Planning Commission Eight Industrialists (b) Swachh Bharat Abhiyan
(c) Shriman Narayan L)Udan Scheme
5. Economic problem arises because of d) None of the above )None ot theabove
(scarcity of means 16. The economy of India is the.... 28. Saubhagya Yojana launched in
(b) multiplicity of resources
largest in the world. (a) 2011 2015
(c) scarcity of wants
(a) 4th 6th (c) Sth (d) 12th (c) 2016 )2017
(d) over population
17. Planning in India was started in 29. National Development Counil
6. Economics is a
1951 (b) 1950 (NDC) was constituted in
(a) computer science (a) 1948
(c) 1952 (d) None of these (b) 1950
(b) physical science 1952 (d) 1947
social science 18. Which plan was based on
d) natural science 30. Pradhan Mantri Sahaj Bijli Har
Mahalanobis model? Ghar Yojana launched in
7. What was the basis of Gandhian (a) 1st plan (b) 4th plan
) 2nd plan (d) 6th plan 2017 (b) 2016
economy? (c) 2015 (d) 2014
(a) Machine based growth 19. 'Gadgil Formula" is concerned with
Khadi and cottage industries based 31. National Income estimation in
4th plan (b) 8th plan
growth (c) 1st plan (d) 3rd plan
India is made by
(c) External assistance based growth )National Statistical Institute
20. Which of the following plan is
(d) None of the above (b) Finance Ministry
called 'Rolling Plan'? (c) Reserve Bank of India
8. Which economy is a
(a) 4th plan () 6th plan (d) Central Statistical Organisat n
market-oriented economy? (c) 5th plan (d) 8th plan
32. The base year tor the estimation e
(a) Communist 6)Capitalist
21. 'Mukherjee Committee' was National lncome is
(c) Socialist (d) Mixed
constituted during (a) 2011-2012 )1993- 1914
9. Human Development Index was (a) 5th plan (b) 4th plan (C) 2004-2005 (d) 20062007
(c) 6th plan () 8th plan
developed by 33. National Rural
Employnment
(a) Amartya Sen (b) Friedman
22. The targetted average annual GDP Guarantee Scheme (NREGS)
Mahbub-ul-Haq (d) Montek Singh ca
growth rate during 12th plan is into force in
National (a) 8% (b) 8.2% (a) 2004
0. Who estimated the (d) 10%
) 2006
time in India? 9% (c) 2002 (d) 2005
Income for the first
(a) Mahalanobis Dadabhai Naoroji 23. Which of the following is/are 34. Beti Bachao Beti Padhao wa
(C) VKRV Rao (d) Sardar Patel included in the primary sector ? launched in India is
development of a country (a) Agriculture )Mining (a) 2000 (b) 2014
Economic
1. depends on
(c) Forestry (d) All of these (C) 2017 0) 2015
(a) Natural r e s o u r c e s
ndian Ec

Speed cheque
Agriculture and Industry 46. Which of the following regulates (d) Bearer cheque
under the Foreign
foreign exchange and bear are used in
that are built up Exchange Managenment
Act (FEMA)? 58. The terms 'bul
:5. The foxod stcks (a) Planning Commission
years of bumper harvest (a) RBI
during the Stock Exchange
(b) SEBI
ire calle
(c) Sales Tax Depatment
a Captal stock (b) Buffer stock (c) Finance Ministryy
(d) Income Tax Department
Grain stock (d) Commerce Ministry
oducthon stock coin
59. In which year first time i
was
National Rural
Health Mission
sOWn son after the onset of 47. The
6. Crop covers thc period made?
monsoon in India is (NRHM)
South-West (a) 2005-10
(b) 2005-15 (a) 1542 (b) 1601
called (d) 2006-12 (c) 1809 1757
(b) Kharif 2005-12

cRanted (a) Dry faming 48. CGST means 60. Which of the following is the Central
Services Tax Bank of India ?
What is Operation Flood? a)Central Good and
37. and Stallevy Tax (a) SBI RBI
scheme to control fiood (b) Central General State Tax (d) Imperial Bank
a A Central and (C) PNB
AmissIon programme of prodction (c) Combined
Central and Sub Tax
and distnbution of miBk (d) Combined 61. Which of the following regulates
Ascheme for distribution of water for 49. Who was the Chairman of the first the financial and banking sy stem of
Tgation Finance Commission ? the country?
None of the above (b) SEBI
(a) K Santhanam RBI
(C) sBI (d) CSO
8. In the first plan, the highest priority (b) A K Chandra
was given to (c) PVRajamannar 62. The Monetary Policy is formulated
a) industry agricuiture
(d) trade
KC Neogý by
C transport the 15th (a) Finance Ministry
50. Who is the Chairman of
workers in India are Reserve Bank
9. The majority of Finance Commission?
(c) Parliament
a)casualworkers a ) N K Singh
sef-empioyed (b) KC Pant (d) State Bank of india
creguiar salaried workers
(c) C Rangarajan 63. Which of the following bank is a

d) None of the above (d) Montek Singh Ahluwalia commercial bank ?

0. Green Revolution in India wa_
51. In India. GST was implemented on
launched in (b) Regionai Rurai Banks (RRBs)
(b) 1960-61 (a) 1st 2004
April, (b) 1st July, 2017
a 1971-72 (d) 1st March, 2005 (c) Cooperative Banks
(c) 1st April, 2006
1956-67 (d) 1980-81 (d) All of the above
Banking and Finance 64. The regulatory authority for capital
Indian Tax Structure
52. Imperial Bank was constituted in markets in India is
1. The purpose of devaluation is to (6) ABI
the year SEBI
(3) discourage exports (a) 1955 ()1921 (c) 1930 (d) 1935 (C) SBI (d) All of these
b) encourage import
c) be little foreign currency 53. The accounting year of Reserve 65. Minimum cash reserves fixed by
(d) decrease FDI Bank of India runs from law constitute
2. Which country is the biggest (a) April to March
a percentage of aggregate deposits
() July to June of the bank
trading partner of India? a percentage of aggregate loans and
a) The USA (b) The UK (c) January to December (b)
(d) August to July advances
c) Germany (d) Italy a percentage of capitals and reserves
54. National Institute of Rural (C)
Which following is not a of the bank
one among Development is located at
fixed capital? (d) None of the above
(b) Machines
(a) New Delhi (b) Mumbai
(a) Tools 66. Mumbai Stock Exchange was set up
(d) Money
o Hyderabad (d) Kanpur
(C) Building in
55. Money supply is governed by the
. Some of the taxes GST replaced )1875 (b) 1948 (c) 1952 (d) 1891
(a) Planning Commission
include (b) Finance Commission 67. Unit Trust of India (UTI) was
(a) Sales tax c ) Reserve Bank of India established by
(b) Central Excise tax (d) Commnercial Banks
C) Service tax
(a) IDBI (b) SBI
(d) All of the above 56. Who is the Governor of Reserve (c)RBI Finance Ministry
Financial Bank of India? 68. UTI is now controlled byY
Annual Budget (Annual (a) D Subbarao (b) Raghuram Rajan (b) Finance Ministry
in the (a) iDBI
Slatement) is presented Urjit Patel (d) R Venkatraman (d) SBI
Parliament by RBI
(a) Reserve Bank 57. Which of the following is not a type 69. State Bank of India (SBI) came into
b) Finance Ministry of cheque? existence in
(c) Commerce Ministry (a) Crossed cheque (a) 1948 )1955
(d) All of the above (b) Blank cheque (c) 1935 (d) 1949
 ef study Guide SSC Constable (uD) Recruitment Exa
70. NABARD
established in
Was
1982 ) 1964
(c) 1980 d) 1990 80. What will be true if India have 87. Which one of the
71. 1DB1 was more number following denote
established in of people in the an enterprise? (SSC Constable,
1964 (b) 1972 (c) 1982 (d) productive age group? (a) Physical capital )Working 201
72. RBI was 1955 (a) More incomes (c) Human capital (d) Fixed captal
nationalised in (b) More demand of products capitai
1949 (b) 1935 (c) 1969 (d) 1955 (C) High GDP 88. Wage fund theory was
propounde
73. Which of the All of the above by (SSC Constable, 2012
following institutions
does not provide (a) JB Say
)JS Mil
loans directly to Previous Year's Questions (c) JR Hicks (d) JM Keynes
the farnmers? 81. Hov does
NABARD 89. The expenses on
agriculture promote the
Indian industrial developmcnt?
advertising is
(b) State Bank of India called (SSC Constable, 201
(c) Regional Rural Bank SSC Constable 2015] (a) implicit cost (b) surplus cost
(d) Prmary
Agricultural Credit Society By supplying raw (c) fixed cost
(b) By materials
opening up market for industrial )selling cost
74. The apex 90. Price mechanism is
institution in the arca of products a fcature of
rural finance is (c) By providing food and (SSC Constable, 2012
clothing to
(a) RB
(b) SBI labourers capitalist economy
NABARD (d) All of the given (b) barter economy
(d) All of these options (c) mixed economy
82. Economics classifies the man-nnade
Population
75.
instrument of production as
(d) socialist economy
91. In how
In which state is the [SSC Constable 2015] many denominations is
women the highest?
litcracy rate of (a) organisation (b) labour Indian paper currency
(C) equipment printed a
Kerala (b) Maharashtra capital present? (SSC Constable, 201
(c) Tamil Nadu (d) West Bangal 83. Dadabhai (a)9 (b) 8
Naoroji has described his
76. What
percentage the total
of
theory of 'Drain of Wealth' is the 7 (d)6
population of the world resides in book SSC Constable 2015] 92. Name the curve which
(a) British Rule and its the shows
India, as estimated in 2011? Consequences quantity of products a seller
wishes
(a) 15% (6) Poverty and Un-British Rule in India to sell at the
17.5% (c) Nature of British Colonial Rule given price level.
(c) 20% (d) 22.5% (SSC Constable, 2012
77.
C)Exploitative Nature of British Rule in (a) Demand curve (b) Cost curve
During which decade did the India
Supply curve (d) None of these
population record a negative 84. The
headquarters of World Trade 93. The supply of labour in the
growth rate in India? Organisation (WTO) is situated in econom,
(a) 1921-1931 depends on (SSC Constable. 2012)
1911-1921 ISSC Constable 2015] )Population
(c) 1941-1951 (d) 1941 (a) Washington (USA) (b) National income
78. Sudden decrease of birth (b) New Delhi (India) (c) Per capital income
cause
rate
would (c) London (UK) (d) Natural resources
)increase in per capita income
Geneva (Switzerland) 94. The main feature of a
(6) increase in investment 85. The Cash Reserve Ratio is
tool of
capitalist
a economy is (SSC Constable, 201)
(C) increase in savings [SSC Constable 2015] (a) Administered prices
(a) agricultural policy (b) Public ownership
(d) increase in loan
requests (b) fiscal policy (c) Economic planning
79. Poverty in less developed countries c) tax policy
is largely due to
)Private ownershipP
)monetary policy 95. India has the
(a) idleness of its citizen 86. Labour is considered as a monopoly in the
income inequality king International market in the supply
under (SSC Constable, 2013) of
(C) lack of social activities (SSC Constable, 2011
(a) Socialism (b) Capitalism (a) iron
(d) lack of intelligence of the people ) Communism mica
(d) Mixed economy (c) bauxite (d) copper

Answers
(b) 2. (d) 3. (c) 4. (d) 5. (a)6. (c) (b) 3.
11. (d) 12. (a) 13. (c) 14. (a) 15.
(b) 9. (c) 10.
(b)16. (b) 17. (a) 18. (c) 19.
21. (d) 22. (a) 20.
(c)23. (d) 24. (a) 25. (d) 26. (d) 27. (c) 28. (d)
31. (a)32 (b)33. 34 35. 36.
29 (c) 30.
(b) (d) (d) (a) 37. (b) 38. (b)39. (6) 40
41. (a)42. (a)43. (d) 44 (d) 45. (b) 46. (a) 47. (c) 48. (a) 49. (d) 50.
51. (b)52. (b)53. (b) 54. (c)55. (c) 56. (c) 57. (c) 58.
61. (a) 62. 63.
(b)59. (d) 60.
(b) (a) 64. (a)65. (a) 66. (a) 67. (d) 68. (c)69.
71. 72. (a) 73.
(b) 70
(a) (a) 74. (c) 75. (a)76. (b) 77. (b) 78. (a) 79. (b) 80
81 (a) 82. (d) 83. (d) 84. (C) 87.
(d) 85. (d) 86. (b) 88.
91. (c) 92 (c) 93.
(b)89. (d) 90.
(a) 94. (d) 95. (b)