Important Questions, Economy Traditional | Additional Study Material for UPSC PDF Download

Question: The cooperative year in India ends on    
Ans: June 30

Question: What is the indicator of economic prosperity?
Ans:  Increase in G.D.P. at fixed prices

Question: Which is concerned with quality control of products in India?    
Ans: ISI

Question: Which is mainly concerned with the integrated development of arid zones of Rajasthan, Haryana and Gujarat?      
Ans: DDP

Question: The main objective of Antyodaya Programme is:
Ans: Upliftment of rural poor

Question: Which is the largest public sector bank?
Ans: State Bank of India

Question: Which nation holds the first position in our foreign trade?
Ans: USA

Question: The Reserve Bank of India was set up in    
Ans: 1935

Question: The Reserve Bank of India was nationalised in    
Ans: 1949

Question: The Planning Commission was established in      
Ans: 1950

Question: The industry that provides the largest employment is
Ans: Textiles

Question: Which State in India has the largest number of factory workers?      "
Ans: Maharashtra

Question: Of the total revenue tax of the Union Government, Indirect Taxes account for nearly      
Ans: 80%

Question: Our country enjoys monopoly in the export of      
Ans: Mica

Question: The term ‘bulls and bears’ is associated with
Ans: Stock market

Question: The Imperial Bank of India was the original name of
Ans: State Bank of India

Question: Which European country was the first buyer of Maruti Cars?      
Ans: Hungary

Question: The Boothalingam Committee dealt with      
Ans: Wages

Question: All India Khadi and Village Industries Board was set up during the  
Ans: First Plan

Question:  The Monopolies and Restrictive Trade Practices Commission was set up in    
Ans: 1970

Question: The creation of core sector and joint sector was proposed by          
Ans: Rajamannar Committee

Question: A perspective plan is drawn up for a period of
Ans: 15 to 20 years

Question: When was National Development Council founded?
Ans: 1952

Question: What is the average size of a holding in India?
Ans: 1.82 hectares

Question: The first country-wide agricultural census was taken in our country in      
Ans: 1970-71

Question: The Wanchoo Committee probed into      
Ans: Direct Taxes

Question: The Finance Commission is appointed after the expiry of
Ans:  5 years or earlier

Question: The Bank Rate is the rate at which RBI extends credit to
Ans: Commercial Bank

Question: The RBI has helped to finance our foreign trade through the bank called    
Ans:  EXIM

Question:  NABARD was set up in 1982 on the recommendation of
Ans: CRAFICARD

Question:  According to Planning Commission the poverty line is defined in urban areas by
Ans: 2,100 daily calories/person

Question: According to Planning Commission, the poverty line is defined in rural areas by    
Ans: 2,400 daily calories/person

Question: The Plan Holiday covered the period    
Ans: from 1966-69

Question: The life expectancy during 1991-96 was
Ans:  about 60 years

Question: Seasonal unemployment pertains mainly to
Ans:  Agriculture

Question: The most important objective of Indian Planning is increase    
Ans: in per capita income

Question: What is the term used for indigenous bills of exchange in India?    
Ans:  Hundis

Question: The Bearer Bonds Scheme aimed at
Ans:  Mopping up black money

Question: Which is the apex organisation for industrial finance in our country?    
Ans: IDBI

Question: What is the main objective of IMF loan to India?
Ans:  To help India meet the balance of payment problem.

Question: The agricultural commodity whose export gets us the maximum foreign exchange is    
Ans:  Tea

Question: What is the main cause of population explosion in India?
Ans:  Fall in death rate due to medical advancement

Question: The main objective of Community Development Project is        
Ans:  All round development of people in rural areas

Question: Our country exports large amounts of iron from Kudremukh from the port called    
Ans:  New Mangalore

Question: Who recommends support prices of food-grains in our country?      
Ans:  Agricultural Prices Commission

Question: What is the main function of National Development Council?
Ans: It reviews working of the National Plan from time to time.

Question: Which state has the largest share of capital investment and industrial production?    
Ans: Maharashtra

Question: The commodity imported by India from Sri Lanka is
Ans:  Clove oil

Question: What was the status of the Planning Commission?
Ans: It is an advisory body

Question: Decimal coinage was introduced in our country in:
Ans: 1962

Question: What is the main cause for increased agricultural production in India?    
Ans:  Use of improved seeds, fertilizers and pesticides

Question: What will be the result of covering the budget deficit by printing currency notes?    
Ans: Inflation

Question: Under what heading or category does salaries of Government Servants come in the Budget?
Ans:  Current expenditure

Question: Which is responsible for collection and publication of monetary and financial information?    
Ans:  R.B.I.

Question: Whose signature is found on 50 rupee currency note?
Ans:  Governor, R.B.I.

Question: Regional Rural Banks started functioning in our country in        
Ans: 1975

Question: A scheduled bank is one which is included in 2nd schedule of the    
Ans:  R.B.I. Act

Question: What is associated with ‘Paper Gold’?
Ans: IMF’s Special Drawing Rights

Question: Which form of generation has played the greatest part in improving the power situation in India?
Ans: Thermal generation

Question: The Life Insurance Corporation (L.I.C.) is an example of
Ans: Investment banks

Question: Which is the most important small-scale industry in India?    
Ans:  Handloom

Question: At the end of British rule, what per cent of the national income was generated by agriculture in India?    
Ans: 59

Question: When was Garibi Hatao accepted as a strategic development goal for the first time?    
Ans:  The Fifth Plan

Question: The Bhagvati Committee Report dealt with Unemployment problem
Ans: yes

Question: The National Horticulture Board was set up in    
Ans: 1984

Question: Where is the headquarters of the National Horticulture Board?    
Ans:  Gurgaon

Question: The Indian Council of Agricultural Research was set up as a registered society in    
Ans:  1923

Question: India is the first country to evolve a hybrid of    
 Ans:  Cotton

Question: About what per cent of the growth in agriculture can be attributed to increased fertilizer use?     
 Ans:  70%

Question: The National Seeds Corporation was set up for meeting requirement of quality seeds in
 Ans: 1963

Question: Where is the Satellite Laboratory for Remote Sensing and Locust Breeding Grounds located?     
 Ans: Jodhpur

Question: According to Food and Agricultural Corporation, the per capita availability of foodgrains per day should be 
 Ans:  440 gms

Question: Land ceiling laws were re-enacted by the State in conformity with the National guidelines issued in 
 Ans: 1972

Question: The country’s basic law for acquisition of land for public purposes and for companies is the Land Acquisition Act of     
 Ans:  1894

Question: The Bonded Labour System (Abolition), Act was passed in         
 Ans:  1976

Question: The Zamindari System was abolished in our country in
 Ans:  1952

Question: For calculating the consumer price index the new base year that has been fixed is     
 Ans:  1960

Question: What does Dear Money Policy do?
 Ans: It controls inflation

Question: The industry which suffers the most from sickness in our country is     
 Ans: Cotton textiles

Question: The tax called Octroi is imposed by 
 Ans: Municipal Bodies

Question: The Tea Trading Corporation of India was established in
 Ans: 1971

Question: The Sick Industrial Companies (Special Provisions) Act was passed in     
 Ans:  1985

Question: The Indian National Trade Union Congress was started in
 Ans:  1947

Question: The Payment of Gratuity Act was passed in     
 Ans: 1972

Question: Beginning of industrial licensing in our country was marked by the Industries (Development and Regulation) Act of     
 Ans: 1951

Question: Which was the first to recognise the mutual dependence between the private and public sectors? 
 Ans:  Industrial Policy Resolution, 1956

Question: What is the average size of agricultural holdings in the country?     
 Ans: 1.7 hectares.

Question: When was the first Cooperative Credit Societies Act, which was designed to combat rural indebtedness and to provide for registration of credit societies in the country, passed?     
 Ans: 1904.

Question: Name the year in which the system of rationing was introduced for the first time in the country?     
 Ans: 1943-44.

Question: What is India’s rank in the world production of sugar? 
 Ans: Second.

Question: What place does India occupy in the world in the manufacture of cotton woven fabrics?     
 Ans: Second.

Question: Which state has the largest number of factories in the country?     
 Ans: Maharashtra.

Question: Which state has the distinction of having the largest number of registered small-scale industries?
 Ans:  West Bengal.

Question: From which year did the Trade Fair Authority of India, set up as Government company under the Companies Act, start functioning?
 Ans:  1957.

Question: In terms of the percentage allocation of the plan outlay which Five Year Plan accorded the highest priority to transport and communication?     
 Ans: Second Plan.

Question: Where are the headquarters of the South Central Railway? 
 Ans: Secunderabad.

Question: Which Railway zone in the country is the largest in terms of route kilometres?     
 Ans: Northern.

Question: Since when were Railway finances separated from general revenues?     
 Ans: 1924-25.

Question: From which year was the production of steam locomotives discontinued?     
 Ans: 1972.

Question: In terms of route kilometreage what is India’s rank among world railway systems?     
 Ans: Fourth.

Question: Which state in the country has the highest road length?
 Ans: Maharashtra.

Question: Approximately what percentage of total buses are being run by public sector undertakings in the country as a whole?     
 Ans: 40.

Question: Of the total road length in the country, national highways constitute nearly?     
 Ans: 2 per cent.

Question: In which year was the Border Roads Development Board set up?     
 Ans: 1960.

Question: The Cochin Shipyard has been set up with the collaboration of which  foreign country?     
 Ans: Japan.

Question: Air-India inaugurated its first international service in June 1948. What was its destination?     
 Ans: London.

Question: Which state has the highest ratio of urban population? 
 Ans: Maharashtra.

Question: Which age group in the country accounts for the highest percentage of total population?     
 Ans: 0-9 years.

Question: What percentage represents the Punjabi-speaking population in the country?     
 Ans: 2.8.

Question: In which State or Union Territory is the proportion of workforce, or the work participation rate, highest in the country?     
 Ans: Arunachal Pradesh.

Question: Employment in the public sector has been rapidly increasing. Which activity in the public sector provides maximum employment?     
 Ans: Services.

Question: Where is the work participation rate lowest in the country?
 Ans: Lakshadweep.

Question: The bonded labour system has been abolished all over the country through the Bonded Labour System (Abolition) Act. When was this legislation enacted?
 Ans: 1976

Question: The Trade Union Act, 1926, provides for the registration of trade unions. What is the minimum number of members necessary for the registration of a trade union? 
 Ans: Seven.

Question: Which state in the country has the largest number of post offices?     
 Ans: Uttar Pradesh.

Question: The postal system in India dates back to the year
 Ans:  1837.

Question: When was the Postal Index Number (PIN), a numerical postal address code, introduced in the country?     
 Ans: 1972

Question: The International Subscriber Dialling (ISD) telephone service was first introduced from an Indian city to the U.K. Which was that city?     
 Ans: Bombay.

Question: In which year was the India Tourism Development Corporation (ITDC) established?     
 Ans: 1966.

Question: The largest number of daily newspapers are published in Hindi. Which language in the country occupies the second place in this respect?     
 Ans: Urdu.

Question: Since when has the census of population on an all-India basis been taken regularly every ten years?     
 Ans: 1881.

Question: What is the proportion of India’s population compared to the total population of the world?     
 Ans: One-seventh.

Question: Low, medium and high projections about the future size of the country’s population have been made by the Office of Registrar General of India. What is the medium projection for the year 2001?     
 Ans: 99.1 crores.

Question: The growth of the country’s population was slow and irregular towards the beginning of the present century. Later on it became rapid and continuous. Which year is generally regarded as the Year of Great Divide?     
 Ans: 1921.

Question: The annual addition to the population of India is almost equal to the total population of which country?
 Ans:  Australia.

Question: Which state in the country has the largest Scheduled Caste population?     
 Ans: Uttar Pradesh.

Question: When was the Planning Commission set up to prepare a blueprint of development for the country?     
 Ans: 1950.

Question: Who is the ex-officio Chairman of the Planning Commission of India?     
 Ans: Prime Minister.

Question: Which is the highest body that approves Five Year Plans in the country?
 Ans: National Development Council.

Question: In which Five Year Plan was rapid industrialisation with particular emphasis on the development of basic and heavy industries laid down as one of the main objectives?
 Ans: Second Plan.

Question: In which year did Parliament declare that the broad objective of economic policy should be to achieve a socialistic pattern of society?   
 Ans: 1954.

Question: Dadabhai Naoroji was one of the first persons to estimate the country’s national income during the British period. what was his estimate of per capita income for the year 1868?     
 Ans: Rs. 20.

Question: What was India’s rank in the world in terms of GNP per capita in 1987?     
 Ans: 168.

Question: What is the target for the reduction of poverty ratio in the country by AD 2000?     
 Ans: 5 per cent.

Question: The Indian Council of Agricultural Research is an apex body for formulating plans and coordinating research work in agriculture and allied fields. When was it set up?
 Ans: 1929.