Indian Economy is the 5th world's largest economy on the basis of domestic gross product (GDP) and 3rd largest economy on the basis of purchasing power parity (PPP). Indian Economy is the fastest growing economy and surpassing China. The Indian economy was slow between 2017 & 2018 because of demonetization at end of 2016 but the Indian economy will be better in the future because India is the country of the young population. Let's take this test & know more about the Indian Economy.
1. Who is called the father of Economics?
A. Max Muller
B. Karl Marx
C. Adam Smith
D. None of the above
2. The concept of five-year plans in India was introduced by.....
A. Lord Mountbatten
B. Indira Gandhi
C. Jawaharlal Nehru
D. Lal Bahadur Shastri
3. India has...
A. Socialist economy
B. Gandhian economy
C. Mixed economy
D. Free Economy
4. A mixed economy means......
A. Coexistence of small scale and large scale industries
B. Coexistence of the rich and the poor
C. Coexistence of private and public sector
D. Assigning equal importance to both agriculture and heavy industries
5. National Development Council was set up in.....
A. 1948
B. 1950
C. 1951
D. 1952
6. The rolling plan was designed for the......
A. 1978- 83
B. 1985- 90
C. Both of the above
D. None of the above
7. The second five-year plan laid more stress upon.....
A. Agriculture
B. Industrialisation
C. Removing poverty
D. Self Reliance
8. The Steel plants at Durgapur, Bhilai, and Rourkela were established during the period of.......
A. First five year plan
B. Second five year plan
C. Third five year plan
D. Fourth five year plan
9. Which among the following formulates fiscal policy?
A. RBI
B. Finance ministry
C. SEBI
D. Planning Commission
10. When was the decimal system of currency introduce in India?
A. 1948
B. 1954
C. 1950
D. 1957
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