Indian Economy mcq of questions answers and answers with details and PDF, for SSC, UPSC, Railway and Competetive exams.

Indian Economy mcq

Question No. 1.Which of the following statement regarding the Indian institute of Food Processing Technology (IIFPT) is not correct ?

A. It is an autonomous educational and research institution.

B.It functions under the Ministry of Commerce

C. It was established in 1967 Tanjavur, Tamil Nadu.

D. It was granded the status of “Institues of national Importance” in 2021.

Answer: It functions under the Ministry of Commarce.

Details: The IIFPT is not works under the Ministry of Commerce. It operates under the Food Processing Industries . This institution is dedicated to academic and research programs in the field of food processing technology . It was indeed established 1967 , Tamil Nadu and recieved the status of National importance in 2021.

Question No. 2. According to the Tendulkar Committee, what was the estimated percentage of the population living below the poverty line in India for the year 2011-12?

A.29.8%

B. 37.2%

C. 21.9%

D.25.5%

Answer: 21.9%

details: The Tendulkar Committee established that 21.9%of the Indian population lived below line in 2011-12. Poverty in India is typically assessed using two methods : Absolute Poverty which is measured against a poverty line and Relative Poverty , which is determined through economic comparisons .

Question 3. Which International organisations are famous famously known as the ” Bretton Woods Twins”?

A. WTO and World Bank

B. IMF and World Bank

C. IMF and WTO

D. ADB and IMF

Answer: IMF and World bank

Details: The International Monetary Fund (IMF) and the world bank(specially the IBRD) are known as the Bretton Woods Twins . They were both established following a 1944 international conference held at Bretton Woods USA. Both organisations are headquartered in Washington DC.

Question No. 4. In the context of economic reforms, Dis-invesment” and De- nationaliation” are processes primarily associated with:

A. Liberalisation

B. Globalisation

C. Privatisation

D. Centralization

Answer: Privatisation

Details: Privatisation Involves converting public sector entities into the private sector. It can occur through ” de-nationalisation ” or dis-investment which is the process of selling government shares in a public company to raise money or transfer management to private hands.

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