Indian Economy – UPSC Prelims PYQs

Which of the following is/are included in the capital budget of the Government of India?

1. Expenditure on acquisition of assets like roads, buildings, machinery, etc.
2. Loans received from foreign governments
3. Loans and advances granted to the States and Union Territories

Select the correct answer using the code given below.

Recently, which one of the following currencies has been proposed to be added to the basket of IMF's SDR?

With reference to the International Monetary and Financial Committee (IMFC), consider the following statements :

1. IMFC discusses matters of concern affecting the global economy, and advises the International Monetary Fund (IMF) on the direction of its work.
2. The World Bank participates as observer in IMFC's meetings.

Which of the statements given above is/are correct?

Which of the following best describes the term 'import cover', sometimes seen in the news?

With reference to 'Pradhan Mantri Fasal Bima Yojana', consider the following statements :

1. Under this scheme, farmers will have to pay a uniform premium of two percent for any crop they cultivate in any season of the year.
2. This scheme covers post-harvest losses arising out of cyclones and unseasonal rains.

Which of the statements given above is/are correct?

Why does the Government of India promote the use of 'Neem-coated Urea' in agriculture?

With reference to 'Stand Up India Scheme', which of the following statements is/are correct?

1. Its purpose is to promote entrepreneurship among SC/ST and women entrepreneurs.
2. It provides for refinance through SIDBI.

Select the correct answer using the code given below.

The term 'Core Banking Solutions' is sometimes seen in the news. Which of the following statements best describes/describe this term?

1. It is a networking of a bank's branches which enables customers to operate their accounts from any branch of the bank on its network regardless of where they open their accounts.
2. It is an effort to increase RBI's control over commercial banks through computerization.
3. It is a detailed procedure by which a bank with huge non-performing assets is taken over by another bank.

Select the correct answer using the code given below.

India's ranking in the 'Ease of Doing Business Index' is sometimes seen in the news. Which of the following has declared that ranking?

What is/are the purpose/purposes of the 'Marginal Cost of Funds based Lending Rate (MCLR)' announced by RBI?

1. These guidelines help improve the transparency in the methodology followed by banks for determining the interest rates on advances.
2. These guidelines help ensure availability of bank credit at interest rates which are fair to the borrowers as well as the banks.

Select the correct answer using the code given below.

With reference to 'Initiative for Nutritional Security through Intensive Millets Promotion', which of the following statements is/are correct?

1. This initiative aims to demonstrate the improved production and post-harvest technologies, and to demonstrate value addition techniques, in an integrated manner, with cluster approach.
2. Poor, small, marginal and tribal farmers have larger stake in this scheme.
3. An important objective of the scheme is to encourage farmers of commercial crops to shift to millet cultivation by offering them free kits of critical inputs of nutrients and microirrigation equipment.

Select the correct answer using the code given below.

With reference to 'Financial Stability and Development Council', consider the following statements :

1. It is an organ of NITI Aayog.
2. It is headed by the Union Finance Minister.
3. It monitors macroprudential supervision of the economy.

Which of the statements given above is/are correct?

The term 'Base Erosion and Profit Shifting' is sometimes seen in the news in the context of

Recently, India's first 'National Investment and Manufacturing Zone' was proposed to be set up in

What is/are the purpose/purposes of 'District Mineral Foundations' in India?

1. Promoting mineral exploration activities in mineral-rich districts
2. Protecting the interests of the persons affected by mining operations
3. Authorizing State Governments to issue licences for mineral exploration

Select the correct answer using the code given below.

Consider the following statements :

1. New Development Bank has been set up by APEC.
2. The headquarters of New Development Bank is in Shanghai.

Which of the statements given above is/are correct?

What is/are the purpose/purposes of Government's 'Sovereign Gold Bond Scheme' and 'Gold Monetization Scheme'?

1. To bring the idle gold lying with Indian households into the economy
2. To promote FDI in the gold and jewellery sector
3. To reduce India's dependence on gold imports

Select the correct answer using the code given below.

Pradhan Mantri MUDRA Yojana is aimed at

'Global Financial Stability Report' is prepared by the

Regarding 'Atal Pension Yojana', which of the following statements is/are correct?

1. It is a minimum guaranteed pension scheme mainly targeted at unorganized sector workers.
2. Only one member of a family can join the scheme.
3. Same amount of pension is guaranteed for the spouse for life after subscriber's death.

Select the correct answer using the code given below.

The term 'Regional Comprehensive Economic Partnership' often appears in the news in the context of the affairs of a group of countries known as

'Pradhan Mantri Jan-Dhan Yojana' has been launched for

With reference to the Fourteenth Finance Commission, which of the following statements is/are correct?

1. It has increased the share of States in the central divisible pool from 32 percent to 42 percent.
2. It has made recommendations concerning sector-specific grants.

Select the correct answer using the code given below.

A decrease in tax to GDP ratio of a country indicates which of the following?

1. Slowing economic growth rate
2. Less equitable distribution of national income

Select the correct answer using the code given below.

In the 'Index of Eight Core Industries', which one of the following is given the highest weight?

The Fair and Remunerative Price (FRP) of sugarcane is approved by the

Which one of the following issues the 'Global Economic Prospects' report periodically?

When the Reserve Bank of India reduces the Statutory Liquidity Ratio by 50 basis points, which of the following is likely to happen?

In India, markets in agricultural products are regulated under the

Which of the following brings out the ‘Consumer Price Index Number for Industrial Workers’?

The terms ‘Agreement on Agriculture’, ‘Agreement on the Application of Sanitary and Phytosanitary Measures’ and ‘Peace Clause’ appear in the news frequently in the context of the affairs of the

Convertibility of rupee implies

The Government of India has established NITI Aayog to replace the

In India, the steel production industry requires the import of

Consider the following statements :

1. The Accelerated Irrigation Benefits Programme was launched during 1996–97 to provide loan assistance to poor farmers.
2. The Command Area Development Programme was launched in 1974–75 for the development of water-use efficiency.

Which of the statements given above is/are correct?

'Basel III Accord' or simply 'Basel III', often seen in the news, seeks to

With reference to Indian economy, consider the following statements :

1. The rate of growth of Real Gross Domestic Product has steadily increased in the last decade.
2. The Gross Domestic Product at market prices (in rupees) has steadily increased in the last decade.

Which of the statements given above is/are correct?

With reference to Indian economy, consider the following :

1. Bank rate
2. Open market operations
3. Public debt
4. Public revenue

Which of the above is/are component/components of Monetary Policy?

With reference to inflation in India, which of the following statements is correct?

The substitution of steel for wooden ploughs in agricultural production is an example of

The problem of international liquidity is related to the non-availability of

Which one of the following best describes the main objective of ‘Seed Village Concept’?

There has been a persistent deficit budget year after year. Which of the following actions can be taken by the government to reduce the deficit?

1. Reducing revenue expenditure
2. Introducing new welfare schemes
3. Rationalizing subsidies
4. Expanding industries

Select the correct answer using the code given below.

With reference to the Indian Renewable Energy Development Agency Limited (IREDA), which of the following statements is/are correct?

1. It is a Public Limited Government Company.
2. It is a Non-Banking Financial Company.

Select the correct answer using the code given below.

Consider the following pairs : Programme/Project : Ministry

1. Drought-Prone Area Programme : Ministry of Agriculture
2. Desert Development Programme : Ministry of Environment and Forests
3. National Watershed Development Project for Rainfed Areas : Ministry of Rural Development

Which of the above pairs is/are correctly matched?

The sales tax you pay while purchasing a toothpaste is a

What does venture capital mean?

The main objective of the 12th Five-Year Plan is

With reference to Balance of Payments, which of the following constitutes/constitute the Current Account?

1. Balance of trade
2. Foreign assets
3. Balance of invisibles
4. Special Drawing Rights

Select the correct answer using the code given below.

The terms ‘Marginal Standing Facility Rate’ and ‘Net Demand and Time Liabilities’, sometimes appearing in news, are used in relation to