GK Questions: Indian Economy – Set 7

Hello Aspirants. Welcome to Online General Knowledge section in Affairs cloud, which is important for all the competitive exams. We have created Some questions related to Indian GK(Economy) !!!

1. First Disinvestment Commission was setup in 1996 under the chairmanship of …………………………
   1.Abid Hussain
   2.SR Ravi
   3.RH Patil
   4.EV Ramakrishna
   5.None of these
   
   Answer & Explanation

   Answer – 4.EV Ramakrishna
   Explanation :
   First Disinvestment Commission was setup in 1996 under the chairmanship of EV Ramakrishna. Disinvestment refers to the use of a concerted economic boycott to pressure a government, industry, or company towards a change in policy, or in the case of governments, even regime change.
   
   
   
2. National Renewal Fund(NRF) had setup in 1992, which was abolished in ………………….
   1.2005
   2.1998
   3.2000
   4.2002
   5.None of these
   
   Answer & Explanation

   Answer – 3.2000
   Explanation :
   National Renewal Fund(NRF) had setup in 1992, which was abolished in 2000
   
   
   
3. As on 30 September 2015 there are …………. Maharatnas,………… Navratnas and …………. Miniratnas
   1.7,17 and 73
   2.7,12 and 77
   3.6, 16 and 36
   4.7, 16 and 56
   5.None of these
   
   Answer & Explanation

   Answer – 1.7,17 and 73
   Explanation :
   As on 30 September 2015 there are 7 Maharatnas, 17 Navratnas and 73 Miniratnas
   
   
   
4. India is the ………………….. largest producer of food in the world
   1.First
   2.Second
   3.Third
   4.Fourth
   5.None of these
   
   Answer & Explanation

   Answer – 2.Second
   Explanation :
   India is the world’s second largest foodgrain, fruit and vegetable producer. 175 different types of vegetables are grown in India although potato, tomato, onion, cabbage and cauliflower account for 60 per cent of the total production. India’s main foodgrain crops include rice, wheat, coarse cereals and pulses.
   
   
   
5. Industries policies were not launched in ……………………………….
   1.1991
   2.1956
   3.1977
   4.1980
   5.1972
   
   Answer & Explanation

   Answer – D.1972
   Explanation :
   Industries policies were not launched in 1948, 1956, 1977, 1980 and 1991
   
   
   
6. The most successful land reforms initiative was Operation Banga in Paschim Banga in
   1.1982
   2.1977
   3.1956
   4.1993
   5.None of these
   
   Answer & Explanation

   Answer – 2.1977
   Explanation :
   Operation Barga was successful in enumerating the Bargadars. Over the period 1977-90, the fraction of registered sharecroppers rose from 23 to 65%. During the same period of time in West Bengal, there was expansion in public and private irrigation and there was technological change as well.
   
   
   
7. Six Decades Old Company Act, 1956 replaced by ………………………..
   1.New Company Bill, 2015
   2.Company Act, 1980
   3.New Company Bill, 2013
   4.New Company Act, 2000
   5.None of these
   
   Answer & Explanation

   Answer – 3.New Company Bill, 2013
   Explanation :
   The new Companies Bill will make it into a law replacing the nearly six-decade old regulations that govern corporates in the country.The Companies Bill 2013 received assent from the President Pranab Mukherjee on August 29, it will replace Old Company Act, 1956
   
   
   
8. The first steel plant was set up by Iron Work Company at ………………….. in 1870.
   1.Kulti
   2.Jameshdpur
   3.Burnpur
   4.Bhilai
   5.None of these
   
   Answer & Explanation

   Answer – 1.Kulti
   Explanation :
   The first steel plant was set up by Iron Work Company at Kulti in 1870. Large scale production started after the Tata Iron and Steel Company (TISCO) was set up at Jameshdpur in 1907
   
   
   
9. Which of the following is not a cause of Inflation ?
   1.Tax rises
   2.Printing too much money
   3.Decline in exchange rates
   4.Decrease in production Cost
   5.War or other events caused instability
   
   Answer & Explanation

   Answer – 4.Decrease in production Cost
   Explanation :
   causes of Inflation :
   1.Tax rises
   2.Printing too much money
   3.Decline in exchange rates
   4.Increase in production Cost
   5.War or other events caused instability
   
   
   
10. The present currency system of India is based on minimum reserve system of note issue.It was adopted in ………………….
    1.1956
    2.1957
    3.1960
    4.1972
    5.None of these
    
    Answer & Explanation

    Answer – 2.1957
    Explanation :
    The present currency system of India is based on minimum reserve system of note issue.It was adopted in 1957.It was maintained by RBI.