Indian Economy Quiz

The economy of India is a developing mixed economy. It is the world’s seventh-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). The country ranks 139th in per capital GDP (nominal) with $2,134 and 122nd in per capital GDP (PPP) with $7,783 as of 2018. After the 1991 economic liberalization, India achieved 6-7% average GDP growth annually. Since 2014 with the exception of 2017, India’s economy has been the world’s fastest growing major economy, surpassing China.

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Indian Economy Quiz

Challenge your knowledge on Indian Economy by taking quiz here.

1 / 10

Devaluation means:

converting rupee into gold

making rupee dealer in comparison to some foreign currency

None of these

lowering of the value of one currency in comparison of some foreign currency

2 / 10

Hard Currency is defined as currency:

which loses its value very fast

which can hardly be used for international transactions

which is used in times of war

traded in foreign exchange market for which demand is persistently relative to the supply

3 / 10

In India, Inflation is measured by the?

Consumers Price Index for agriculture workers

Wholesale Price Index number

Consumers Price Index for urban non-manual workers

National Income Deflation

4 / 10

Deficit Financing means that the government borrows money from the?

Reserve Bank of India

World Bank

Asian Development Bank

International Monetary Fund

5 / 10

In India, the Public Sector is most dominant in?

Steel production

Organised term lending financial institutions.

Commercial banking

Transport

6 / 10

Depreciation means?

Closure of a plant due to lock out

Closure of a plant due to labour trouble

Loss of equipment over time due to wear and tear

Destruction of a plant in a fire accident

7 / 10

Economic survey is published by :

Ministry of Finance

Govt. of India

Indian Statistical Institute

Planning Commission

8 / 10

Globalisation of Indian Economy means:

having minimum possible restrictions on economic relations with other countries

stepping up external borrowings

giving up programmes of import substitution

establishing Indian business units abroad

9 / 10

Bank rate is the rate at which:

a bank lends to the public

the Government of India lends to other countries

the Reserve Bank of India lends to the public

the Reserve Bank of India gives credit to commercial banks

10 / 10

According to the law of demand, when Price?

Increases, demand increases

Decreases, demand does not change

Decreases, demand decreases

Increases, demand decreases

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