Indian Economy-GK Practice MCQ Questions – 02 Posted on July 15, 2020July 15, 2020 by admin Question 1Excess of Total Expenditure over total Receipts is : A. Deficit Budget B. Surplus Budget C. Balanced Budget D. None of the above Question 2The central banking functions in India are performed by the I=Central Bank of India II=Reserve Bank of India III=State Bank of India IV=Punjab National Bank A. I, II B. II C. I D. II, III Question 3ICICI is the name of a A. chemical industry B. bureau C. corporation D. financial institution Question 4Since independence, both development and non-development expenditures have increased; the increase in the former being a little more than in the other. Non-development expenditure involves I=interest payments II=subsidies III=defence IV=irrigation A. I, II B. I C. I, II, III D. II, III, IV Question 5Development expenditure of the Central government does not include A. defence expenditure B. expenditure on economic services C. expenditure on social and community services D. grant to states Question 6Gilt-edged market means A. bullion market B. market of government securities C. market of guns D. market of pure metals Question 7In the last one decade, which one among the following sectors has attracted the highest foreign direct investment inflows into India? A. Chemicals other than fertilizers B. Services sector C. Food processing D. Telecommunication Question 8In the second nationalization of commercial banks, ___ banks were nationalized. A. 4 B. 5 C. 6 D. 8 Question 9Devaluation of a currency means A. fall in exchange value of a country by market forces B. reduction in external value/exchange value of currency by the government C. reduction in currency value due to wear and tear D. all of the above Question 10The concept of zero-based budgeting was given by: A. Peter A. Payer. B. Peter drucker C. Jagdish bhagwati D. None of these