Indian Economy – UPSC Prelims PYQs

Which one of the following statements is correct?

Which one among the following States has the highest female literacy rate as per the Census 2001?

Which one among the following countries has the lowest GDP per capita?

Consider the following statements:

1. In the last five years, Indian software exports have increased at a compound annual growth rate of about 60%.
2. The software and service industry in India registered an overall growth of about 28% in rupee terms during the year 2001-2002.

Which of these statements is/are correct?

Which one of the following statements is correct?

With reference to Government of India’s decisions regarding Foreign Direct Investment (FDI) during the year 2001-02, consider the following statements:

1. Out of the 100% FDI allowed by India in tea sector, the foreign firm would have to disinvest 33% of the equity in favour of an Indian partner within four years.
2. Regarding the FDI in print media in India, the single largest Indian shareholder should have a holding higher than 26%.

Which of these statements is/are correct?

The Kelkar proposals which were in the news recently were the

Consider the following statements:

1. The maximum limit of shareholding of Indian promoters in private sector banks in India is 49 per cent of the paid-up capital.
2. Foreign Direct Investment up to 49 per cent from all sources is permitted in private sector banks in India under the automatic route.

Which of these statements is/are correct?

Assertion (A): During the year 2001-02, the value of India’s total exports declined, registering a negative growth of 2.17%.

Reason (R): During the year 2001-02, negative growth in exports was witnessed in respect of iron and steel, coffee, textiles and marine products.

Assertion (A): The new EXIM Policy is liberal, market-oriented and favours global trade.

Reason (R): GATT has played a significant role in the liberalisation of economy.

Among the following commodities imported by India during the year 2001-02, which one was the highest in terms of Rupee value?

"World Development Report" is an annual publication of

Consider the following statements: The Draft Electricity Bill, 2001 seeks to replace

1. Indian Electricity Act, 1910
2. Electricity (Supply) Act, 1948
3. Electricity Regulatory Commission Act, 1998
4. State Electricity Boards

Which of these statements are correct?

Consider the following statements:

1. The World Intellectual Property Organisation (WIPO) is a specialised agency of United Nations System of Organisations
2. WIPO has its headquarters at Rome
3. The Trade Related Aspects of Intellectual Property Rights (TRIPS) Agreement is binding on all WTO members
4. Least-developed country members of WTO are not required to apply the provisions of TRIPS Agreements for a period of 20 years from the general date of application of the Agreement

Which of these statements are correct?

India has the maximum volume of foreign trade with

With reference to Indian agriculture,

which one of the following statements is correct?

India's external debt increased from US $98,158 million as at the end of March 2000 to US $100,225 million as at the end of March 2001 due to increase in

With reference to the Indian economy, consider the following activities:

1. Agriculture, Forestry and Fishing
2. Manufacturing
3. Trade, Hotels, Transport and Communication
4. Financing, Insurance, Real Estate and Business services The decreasing order of the contribution of these sectors to the Gross Domestic Product (GDP) at factor cost at constant prices (2000-01) is

Consider the following statements: The objectives of the National Renewal Fund set up in February 1992 were

1. To give training and counselling for workers affected by retrenchment or VRS.
2. Redeployment of workers

Which of these statements is/are correct?

Which one of the following committees recommended the abolition of reservation of items for the small-scale sector in industry?

Consider the following statements: The objectives of the National Renewal Fund set up in February 1992 were

1. to give training and counselling for workers affected by retrenchment or VRS.
2. redeployment of workers

Which of these statements is/are correct?

Consider the following high yielding varieties of crops in India:

1. Arjun
2. Jaya
3. Padma
4. Sonalika

Which of these are wheat?

With reference to the Wholesale Price Index (WPI), consider the following statements:

1. The new WPI series with base 1993-94 = 100 became effective from April 1998.
2. In the new WPI series, became effective from 1 April 2000.
3. The weight for electricity has increased in the new WPI series.

Which of these statements are correct?

Global capital flows to developing countries increased significantly during the nineties. In view of the East Asian financial crisis and the Latin American experience, which type of inflow is considered safest for the host country?

In terms of value,

which one of the following commodities accounted for the largest agricultural exports by India during the three-year period from 1997-1998 to 1999-2000?

A Five Year Plan in India is finally approved by the

Among the following major stock exchanges of India, which one recorded the highest turnover during the year 2001-02?

With reference to the public Sector Undertaking in India, consider the following statements:

1. Minerals and Metals Trading Corporation of India Limited is the largest non-oil importer of the country.
2. Project and Equipment Corporation of India Limited is under the Ministry of Industry.
3. One of the objectives of Export Credit Guarantee Corporation of India Limited is to enforce quality control and compulsory pre-shipment inspection of various exportable commodities

Which of these statements is/are correct?

With reference to the Indian Public Finance consider the following statements:

1. External liabilities reported in Union Budget are based on historical exchange rates.
2. The continued high borrowing has kept the real interest rates high in the economy.
3. The upward trend in the ratio of Fiscal Deficit to GDP in recent years has an adverse effect to private investments.
4. Interest payments is the single largest component of the non-plan revenue expenditure of the Union Government.

Which of these statements are correct?

Which reference to the government’s welfare schemes, consider the following statements:

1. Under the Antyodaya Anna Yojana, the food grains are available to the poorest of the poor families at Rs 2 per kg for wheat and Rs 3 per kg for rice.
2. Under the National Old Age Pension Scheme, the old and destitute are provided Rs 75 per month as Central pension, in addition to the amount provided by most State Governments.
3. Government of India has allocated 25 kg food grains per Below Poverty Line family per month, at less than half the economic cost.

Which of these statements are correct?

Consider the following statements:

1. NTPC is the largest power utility in India.
2. ONGC accounts for half of the LPG production in India.
3. Indian Oil Corporation operates all the oil refineries in India.
4. The Indian Ordinance Factory is the largest departmentally run industrial undertaking in the country.

Which of these statements is/are correct?

Consider the following:

1. Currency with the public
2. Demand deposits with banks
3. Time deposits with banks

Which of these are included in Broad Money (M3) in India?

Consider the following financial institutions of India:

1. Industrial Finance Corporation of India (IFCI)
2. Industrial Credit and Investment Corporation of India (ICICI)
3. Industrial Development Bank of India (IDBI)
4. National Bank for Agriculture and Rural Development (NABARD) The correct chronological sequence of the establishment of these institutions is

With reference to power sector in India consider the following statements:

1. Rural electrification has been treated as a Basic Minimum Service under the Prime Minister’s Gramodaya Yojana.
2. 100 per cent Foreign Direct Investment in power is allowed without upper limit
3. The Union Ministry of Power has signed a Memoranda of Understanding with 14 states.

Which of these statements is/are correct?

A country is said to be in debt trap if

Consider the following statements: Full convertibility of the rupee may mean

1. Its free float with other international currencies.
2. Its direct exchange with any other international currency at any prescribed place inside and outside the country.
3. It acts just like any other international currency.

Which of these statements are correct?

Which of the following committees examined and suggested Financial Sector Reforms?

The new series of Wholesale Price Index (WPI) released by the Government of India is with reference to the base prices of

The theme of the World Development Report, 2001 is

The term National Income represents

Assertion (A): There was an increase in industrial production during 1999-2000.

Reason (R): The period witnessed a stable exchange rate and improved business sentiments.

Assertion (A): India's software exports increased at an average growth rate of 50% since 1995-96.

Reason (R): Indian software companies were cost-effective and maintained international quality.

Assertion (A): Ceiling on foreign exchange for a host of current account transaction heads was lowered in the year 2000. Reason (R): There was a fall in foreign currency assets also.

The prices at which the Government purchases food grains for maintaining the public distribution system and for building up buffer stocks is known as

Consider the following statements regarding power sector in India: I. The installed capacity of power generation is around 95000 MW. II. Nuclear plants contribute nearly 15% of total power generation. III. Hydroelectricity plants contribute nearly 40% of total power generation. IV. Thermal plants at present account for nearly 80% of total power generation.

Which of these statements is/are correct?

National Agriculture Insurance Scheme replacing Comprehensive Crop Insurance Scheme was introduced in the year

The annual agricultural production of a product for the period 1991-92 to 1998-99 is shown in the figure given above.

Which one of the following is the product in Q?

Consider the following States: I. Gujarat II. Karnataka III. Maharashtra IV. Tamil Nadu

The descending order of these States with reference to their level of Per Capita Net State Domestic Product is

Consider the following: I. Market borrowing II. Treasury bills

III. Special securities issued to RBI

Which of these is/are component(s) of internal debt?

Consider the following statements regarding Reserve Bank of India: I. It is a banker to the Central Government. II. It formulates and administers monetary policy. III. It acts as an agent of the Government in respect of India’s membership of IMF. IV. It handles the borrowing programme of Government of India.

Which of these statements are correct?