Indian Economy – UPSC Prelims PYQs

Consider the following statements:

1. In India, during the financial year 2004-2005 an increase of below 10 % over the value of exports (in rupee terms) in the financial year 2003-2004 was reported.
2. According to the WTO, India’s share in the world merchandise exports is 2 % in the year 2005.

Which of the statements given above is/are correct?

Consider the following statements:

1. The agreement on South Asian Free Trade Area (SAFTA) came into effect from 1st December 2005.
2. As per SAFTA agreement terms, India, Pakistan and Sri Lanka have to decrease their custom duties to the level of 0 % to 5 % by the year 2013.

Which of the statements given above is/are correct?

Consider the following statements:

1. Appellate Tribunal for Electricity has been established by each State Government in India.
2. One of the components of the Accelerated Power Development and Reforms Programme (APDRP) is upgradation of sub-transmission and distribution system for electricity in India.

Which of the statements given above is/are correct?

Consider the following statements in respect of the National Rural Employment Guarantee Act, 2005 :

1. Under the provisions of the Act, 100 days of employment in a year to every household whose adult members volunteer to do unskilled manual work has become a fundamental right.
2. Under the provisions of the Act, women are to get priority to the extent that one-half of persons who are given employment are women who have asked for work.

Which of the statements given above is/are correct?

Consider the following statements:

1. Life Insurance Corporation of India is the oldest insurance company in India.
2. National Insurance Company Limited was nationalized in the year 1972 and made a subsidiary of General Insurance Corporation of India.
3. Headquarters of United India Insurance Company Limited are located at Chennai.

Which of the statements given above are correct?

Which one of the following pairs is not correctly matched? Railway Zone — Headquarters

Which one of the following is the correct statement? Service tax is a/an

Projects and Development India Limited is mainly engaged in design engineering, procurement and supervision of construction/commissioning in which area?

Consider the following statements :

1. During the year 2004, India’s foreign exchange reserves did not exceed the 125 billion U.S. Dollar mark
2. The series of index numbers of wholesale prices introduced from April, 2000 has the year 1993-94 as base year.

Which of the statements given above is/are correct?

Consider the following statements :

1. India is the only country in the world producing all the five known commercial varieties of silk.
2. India is the largest producer of sugar in the world.

Which of the statements given above is/are correct?

Which one of the following companies has started a rural marketing network called ‘e-chaupals’?

Which one of the following statements is NOT correct?

Match items in the List-I with List-II and select the correct answer using the codes given below the lists:

1. Bharat Heavy Electricals Limited
2. Air India
3. Maruti Udyog Limited
4. Bharat Earth Movers Limited
5. Indian Space Research Organization

List I (Person) (A) V.R.S. Natrajan (B) A.K. Puri (C) V. Thulasidas (D) Jogdish Khattar

List II (Organization)

Which one of the following airports in India is the first to be owned by a public limited company?

Consider the following statements :

1. Poverty Reduction and Growth Facility (PRGF) has been established by the International Development Association (IDA) to provide further assistance to low-income countries facing high level of indebtedness.
2. Singapore Regional Training Institute (STI) is one of the institutes that provide training in macroeconomics analysis and policy, and related subjects as a part of programme of the IMF Institute.

Which of the statements given above is/are correct?

Consider the following statements :

1. Sensex is based on 50 of the most important stocks available on the Bombay Stock Exchange (BSE)
2. For calculating the Sensex, all the Sensex stocks are assigned proportional weightage.
3. New York Stock Exchange is the oldest stock exchange in the world.

Which of the statements given above is/are correct?

Consider the following statements :

1. Liquefied Natural Gas (LNG) is liquefied under extremely cold temperatures and high pressure to facilitate storage or transportation in specially designed vessels.
2. First LNG terminal in India was built in Hassan.
3. Natural Gas Liquids (NGL) are separated from LPG and these include ethane, propane, butane and natural gasoline.

Which of the statements given above is/are correct?

For which one of the following items is Tirupur well-known as a huge exporter to many parts of the world?

Which one of the following pairs is NOT correctly matched? Project — Company

Who among the following is not a member of the Investment Commission formed in December, 2004?

Consider the following statements:

1. Global Trust Bank has been amalgamated with the Punjab National Bank.
2. The second report of the Kelkar Committee dealing with direct and indirect taxes has maintained its original recommendations, including the abolition of exemptions relating to housing loans.

Which of the statements given above is/are correct?

Which one of the following are the correct statements on the basis of Census-2001?

Consider the following statements:

1. India is the second country in the world to adopt a National Family Planning Programme.
2. The National Population Policy of India, 2000 seeks to achieve replacement level of fertility by 2010 with a population of 111 crores.
3. Kerala is the first State in India to achieve replacement level of fertility.

Which of the statements given above is/are correct?

Consider the following statements:

1. The number of post offices in India is in excess of 1.5 lakhs.
2. Bharat Sanchar Nigam Limited (BSNL) was formed in the year 1997.
3. The Telecom Regulatory Authority of India (TRAI) was established in the year 2000.

Which of the statements given above is/are correct?

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

1. Disbursements from Public Accounts of India are subject to the Vote of Parliament.
2. The Indian Constitution provides for the establishment of a Consolidated Fund, a Public Account and a Contingency Fund for each State.
3. Appropriations and disbursements under the Railway Budget are subject to the same form of Parliamentary control as other appropriations and disbursements.

Which of these statements given above are correct?

Which one of the following statements is NOT correct?

Which one of the following was the largest IT software and services exporter in India during the year 2002-03?

Consider the following statements:

1. The Oil Pool Account of Government of India was dismantled with effect from 1-4-2002.
2. Subsidies on PDS kerosene and domestic LPG are borne by Consolidated Fund of India.
3. An expert committee headed by Dr. R.A. Mashelkar to formulate a national auto fuel policy recommended that Bharat Stage-II Emission Norms should be applied throughout the country by 1 April, 2004.

Which of these statements given above are correct?

In the last one decade, which one among the following sectors has attracted the highest Foreign Direct Investment inflows into India?

Which of the following is not a recommendation of the task force on direct taxes under the chairmanship of Dr. Vijay L. Kelkar in the year 2002?

Consider the following statements:

1. National Thermal Power Corporation has diversified into hydropower sector.
2. Power Grid Corporation of India has diversified into telecom sector.

Which of these statements given above is/are correct?

Consider the following statements:

1. The National Housing Bank, the apex institution of housing finance in India, was set up as a wholly-owned subsidiary of the Reserve Bank of India.
2. The Small Industries Development Bank of India was established as a wholly-owned subsidiary of the Industrial Development Bank of India.

Which of the statements given above is/are correct?

Consider the following statements:

1. The highest deciding body for planning in India is the Planning Commission of India.
2. The Secretary of the Planning Commission of India is also the Secretary of the National Development Council.
3. The Constitution includes economic and social planning in the Concurrent List in the Seventh Schedule of the Constitution of India.

Which of the statements given above is/are correct?

Assertion (A): The Central Rural Sanitation Programme was launched in 1986 to improve the quality of life of rural people in India.

Reason (R): Rural sanitation is a subject in the Concurrent List in the Constitution of India.

Assertion (A): India does not export natural rubber.

Reason (R): About 97 % of India's demand for natural rubber is met from domestic production.

Assertion (A): For the first time, India had no trade deficit in the year 2002-03.

Reason (R): For the first time, India's exports crossed worth $50 billion in the year 2002-03.

Consider the following statements:

1. The loans disbursed to farmers under Kisan Credit Card Scheme are covered under Rashtriya Krishi Beema Yojna of Life Insurance Corporation of India.
2. The Kisan Credit Card holders are provided personal accident insurance of Rs 50,000 for accidental death and Rs 25,000 for permanent disability.

Which of these statements given above is/are correct?

Consider the following statements:

1. Regarding the procurement of food grains, Government of India follows a procurement target rather than an open-ended procurement policy.
2. Government of India announces minimum support prices only for cereals.
3. For distribution under Targeted Public Distribution System (TPDS), wheat and rice are issued by the Government of India at uniform central issue prices to the States/Union Territories.

Which of these statements given above is/are correct?

Consider the following statements:

1. Farmers prefer to grow food grains with highly remunerative support prices.
2. Most of the cultivation of oil-seed crops continues to be dependent on rainfall.
3. Oils from the seeds of tree origin and rice bran have remained unexploited.
4. It is far cheaper to import oil seeds than to cultivate the oil-seed crops.

India continues to be dependent on imports to meet the requirement of oilseeds in the country because

Which of these statements is/are correct?

Consider the following statements:

1. Reserve Bank of India was nationalized on 26 January 1950.
2. The borrowing programme of the Government of India is handled by the Department of Expenditure, Ministry of Finance.

Which of these statements given above is/are correct?

Consider the following statements:

1. India is the original home of the cotton plant.
2. India is the first country in the world to develop hybrid cotton variety leading to increased production.

Which of these statements is/are correct?

Consider the following statements:

1. Molasses is a by-product of sugar production process.
2. Bagasse obtained in the sugar mills is used as a fuel in the boilers to generate steam for the sugar factories.
3. Sugar can only be produced from sugarcane as the raw material.

Which of these statements are correct?

In India, the first bank of limited liability managed by Indians and founded in 1881 was

The government holding in BPCL is

During the year 2000-01,

which one of the following industries recorded highest growth rate in India?

Debenture holders of a company are its

Which one of the following statements is correct with reference to FEMA in India?

Consider the following statements

1. India’s import of crude and petroleum product during the year 2001-02 accounted for about 27% of India’s total imports.
2. During the year 2001-02, India’s exports had increased by 10% as compared to the previous year

Which of these statements is/are correct?

As per the Human Development Index given by UNDP,

which one of the following sequences of South Asian countries is correct, in the order of higher to lower development?

Consider the following statements:

1. India ranks first in the world in fruit production.
2. India ranks second in the world in the export of tobacco.

Which of these statements is/are correct?