📈 Top 10 Indian Economy Facts You Should Know | Part-06 | GK & Competitive Exam Preparation:
Explore the Top 10 General Knowledge facts about the Indian Economy in Part-06 of this GK series. Learn important economic concepts, institutions, and facts useful for competitive exams, quizzes, and general awareness.💰📚
✨ 01. Which of the following organizations is not joined by India?
(a) APEC
(b) ASEAN
(c) NAFTA
(d) All of the above
Ans. (d) All of the above.
✨ 02. The Finance Ministry, government of India, has imposed an anti-dumping duty recently on which mineral?
a) Thorium
b) Monazite
c) Graphite electrodes
d) Uranium
Ans: c) Graphite electrodes.
✨ 03. What are Special 301 and Super 301?
(a) Variety of rice
(b) Trade pacts with India and the European Union.
(c) Trade protection policies adopted by the USA
(d) Technology used in the artificial raining
Ans. (c) Trade protection policies adopted by the USA.
✨ 04. Who imposes corporation tax in India?
(a) State govt.
(b) Central govt.
(c) State and central both
(d) Local govt.
Ans. (b) Central govt.
✨ 05. What is liquidity?
(a) The degree to which an asset or security can be quickly bought or sold in the market.
(b) Ability of the government to increase tax base
(c) How easily an individual gets a loan from the banks
(d) None of these
Ans. (a) The degree to which an asset or security can be quickly bought or sold in the market.
✨ 06. India is regarded as a country with "Demographic Dividend". This is due to
(a) Its high population in the age group below 15 years
(b) Its high population in the age group of 15-64 years
(c) Its high population in the age group above 65 years
(d) Its high total population
Ans: (b) Its high population in the age group of 15-64 years.
✨ 07. Which three states are the top three producers of food grains in India?
(a) U.P., Punjab, Madhya Pradesh
(b) Punjab, U.P., Madhya Pradesh
(c) Madhya Pradesh, U.P., Punjab,
(d) U.P., Gujarat, Madhya Pradesh
Ans. (a) U.P., Punjab, Madhya Pradesh.
✨ 08. What does devaluation mean?
(a) Increment in the value of the domestic currency.
(b) Decrease in the external value of domestic currency and no change in the internal/domestic value.
(c) First increase, then decrease in the external value of the domestic currency.
(d) None of these.
Ans. (b) Decrease in the external value of domestic currency and no change in the internal/domestic value.
✨ 09. When does the Reserve Bank of India increase the cash reserve ratio (CRR)?
(a) When the Indian economy has a high rate of inflation
(b) When the Indian economy has a low rate of inflation
(c) The demand for goods & services is very low
(d) None of these
Ans. (a) When the Indian economy has a high rate of inflation.
✨ 10. Which of the following is the biggest producer of food grains in the world?
(a) India
(b) China
(c) USA
(d) Brazil
Ans. (b) China.
✍️ Final Thought:
Understanding the Indian economy is essential for students, competitive exam aspirants, and anyone interested in national development. These key facts provide valuable insights into India's economic structure, financial institutions, and growth drivers, helping build a strong foundation in general awareness and economics.💹
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