GK-Indian Economic Questions and Answers
Practice ModeShowing 10 of 20 questions
Q1
What is the full form of GDP?
Answer: Option A
Explanation: GDP stands for Gross Domestic Product, the total value of goods and services produced within a country.
Q2
Which sector contributes the largest share to India's GDP?
Answer: Option C
Explanation: The services sector is the largest contributor to India's GDP.
Q3
Who is known as the “Father of Indian Economic Planning”?
Answer: Option B
Explanation: M. Visvesvaraya is regarded as the Father of Indian Economic Planning.
Q4
Which organization publishes the Human Development Index (HDI)?
Answer: Option C
Explanation: The United Nations Development Programme (UNDP) publishes HDI annually.
Q5
What is the main objective of NITI Aayog?
Answer: Option B
Explanation: NITI Aayog was formed to foster cooperative federalism and plan sustainable economic growth.
Q6
Which tax was replaced by GST in India?
Answer: Option B
Explanation: GST subsumed indirect taxes like VAT, excise duty, and service tax.
Q7
Which is the largest employment sector in India?
Answer: Option A
Explanation: Agriculture continues to be the largest employment provider in India.
Q8
Which year was the Reserve Bank of India established?
Answer: Option B
Explanation: RBI was established in 1935 under the RBI Act of 1934.
Q9
Which is the highest denomination currency note ever issued in India?
Answer: Option B
Explanation: The highest denomination issued was ₹10,000, last demonetized in 1978.
Q10
What is the primary function of SEBI?
Answer: Option B
Explanation: SEBI regulates the securities market and protects investor interests.