Indian Economics

Description: This quiz is designed to test your knowledge about Indian Economics.
Number of Questions: 15
Created by:
Tags: economics indian economy gdp inflation poverty
Attempted 0/15 Correct 0 Score 0

What is the full form of GDP?

  1. Gross Domestic Product

  2. Gross Domestic Price

  3. Gross Domestic Profit

  4. Gross Domestic Production


Correct Option: A
Explanation:

GDP stands for Gross Domestic Product, which is the total value of all goods and services produced in a country in a given period of time.

Which sector contributes the most to India's GDP?

  1. Agriculture

  2. Industry

  3. Services

  4. Manufacturing


Correct Option: C
Explanation:

The services sector contributes the most to India's GDP, followed by industry and agriculture.

What is the current inflation rate in India?

  1. 4%

  2. 5%

  3. 6%

  4. 7%


Correct Option: C
Explanation:

The current inflation rate in India is 6%, as of March 2023.

What is the poverty rate in India?

  1. 20%

  2. 25%

  3. 30%

  4. 35%


Correct Option: B
Explanation:

The poverty rate in India is estimated to be around 25%, as of 2021.

Which state in India has the highest per capita income?

  1. Maharashtra

  2. Karnataka

  3. Tamil Nadu

  4. Goa


Correct Option: D
Explanation:

Goa has the highest per capita income among all states in India.

Which state in India has the lowest per capita income?

  1. Bihar

  2. Jharkhand

  3. Chhattisgarh

  4. Odisha


Correct Option: A
Explanation:

Bihar has the lowest per capita income among all states in India.

What is the main objective of the Reserve Bank of India (RBI)?

  1. To control inflation

  2. To maintain a stable exchange rate

  3. To promote economic growth

  4. To regulate the banking sector


Correct Option: A
Explanation:

The main objective of the RBI is to control inflation and maintain a stable exchange rate.

What is the current repo rate set by the RBI?

  1. 4%

  2. 5%

  3. 6%

  4. 7%


Correct Option: C
Explanation:

The current repo rate set by the RBI is 6%, as of March 2023.

What is the current reverse repo rate set by the RBI?

  1. 3.5%

  2. 4%

  3. 4.5%

  4. 5%


Correct Option: C
Explanation:

The current reverse repo rate set by the RBI is 4.5%, as of March 2023.

What is the difference between the repo rate and the reverse repo rate?

  1. Repo rate is the rate at which banks borrow money from the RBI, while reverse repo rate is the rate at which banks lend money to the RBI.

  2. Repo rate is the rate at which banks lend money to the RBI, while reverse repo rate is the rate at which banks borrow money from the RBI.

  3. Repo rate is the rate at which the RBI borrows money from banks, while reverse repo rate is the rate at which the RBI lends money to banks.

  4. Repo rate is the rate at which the RBI lends money to banks, while reverse repo rate is the rate at which the RBI borrows money from banks.


Correct Option: A
Explanation:

Repo rate is the rate at which banks borrow money from the RBI, while reverse repo rate is the rate at which banks lend money to the RBI.

What is the role of the National Stock Exchange (NSE) in the Indian economy?

  1. To regulate the stock market

  2. To provide a platform for trading stocks and other securities

  3. To promote economic growth

  4. To protect the interests of investors


Correct Option: B
Explanation:

The role of the NSE is to provide a platform for trading stocks and other securities.

Which city in India is known as the financial capital of the country?

  1. Mumbai

  2. Delhi

  3. Kolkata

  4. Chennai


Correct Option: A
Explanation:

Mumbai is known as the financial capital of India.

What is the name of the Indian currency?

  1. Rupee

  2. Dollar

  3. Pound

  4. Euro


Correct Option: A
Explanation:

The Indian currency is called the Rupee.

What is the symbol of the Indian Rupee?

  1. $

  2. £


Correct Option: A
Explanation:

The symbol of the Indian Rupee is ₹.

What is the value of 1 US Dollar in Indian Rupees?

  1. 70

  2. 80

  3. 90

  4. 100


Correct Option: B
Explanation:

As of March 2023, 1 US Dollar is equal to approximately 80 Indian Rupees.

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