Indian Economy – GK Questions and Answers (MCQs)
The Indian Economy is one of the most important subjects in the General Awareness section of competitive exams. From GDP, inflation, and budget to banking systems, government schemes, and economic reforms, this topic helps candidates understand the structure and functioning of India’s financial system.
Whether you're preparing for SSC, UPSC, Banking, Railways, CDS, State PSCs, or other government job exams, questions related to the Indian economy are frequently asked to test your knowledge of key economic concepts, current trends, and policymaking.
To help you stay exam-ready, GKwizard provides a dedicated section of Indian Economy GK MCQs with answers and explanations. This section covers key topics like:
- Basic Concepts: GDP, GNP, Inflation, Deflation, Fiscal & Revenue Deficit
- Planning in India & Five-Year Plans (till replaced)
- Union Budget Highlights and Economic Surveys
- Sectors of Economy – Primary, Secondary, Tertiary
- Tax Structure – Direct and Indirect Taxes, GST
- Banking and Monetary Policy – RBI roles, repo rate, CRR, SLR
- Government Schemes & Subsidies (e.g., PMAY, MNREGA, Ujjwala)
- Poverty, Unemployment & Inclusive Growth
- Public Finance, Expenditure & Deficit Control
- Foreign Trade & Balance of Payments
- FDI, FII and Economic Liberalization
- Make in India, Startup India & Atmanirbhar Bharat
- Current Economic Data, Reports, Indices (like WPI, CPI, HDI, Ease of Doing Business)
Indian Economy Practice MCQ Question and Answer
122
The economic survey presented before the budget in India provides:
123
The primary focus of the New Economic Policy (NEP) of 1991 was to address the immediate:
124
The establishment of the National Housing Bank (NHB) in 1988 aimed to:
125
The 'Second Green Revolution' in India, which gained momentum in the late 20th and early 21st centuries, emphasized:
126
The primary objective of the 'Pradhan Mantri Gram Sadak Yojana' (PMGSY), launched in 2000, was to:
127
The economic policies of the post-reform period (after 1991) have generally emphasized:
128
The primary goal of the 'Sarva Shiksha Abhiyan' (SSA), launched in 2001, was to:
129
The establishment of the Securities Appellate Tribunal (SAT) in 1997 was to:
130
The 'Backward Regions Grant Fund' (BRGF), launched in 2007, aimed to:
131
The economic impact of the Kargil War (1999) on India primarily involved:
132
The primary objective of the 'National Health Mission' (NHM), launched in 2013, was to:
133
The economic policies of the Nehruvian era (1947-1964) are best characterized by:
134
The main aim of the 'Twenty Point Programme', first launched in 1975, was to:
135
The establishment of the Unit Trust of India (UTI) in 1964 was primarily to:
136
The 'New Industrial Policy, 1991' significantly reduced the number of industries reserved for the public sector to:
137
The primary objective of the 'National Policy on Education, 1986' was to:
138
The economic impact of the COVID-19 pandemic on India (starting in 2020) included:
139
The primary focus of the 'Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan' (PM-KUSUM) scheme is to:
140
The economic policies of the coalition governments in India since the mid-1990s have generally been characterized by:
141
The primary objective of the 'National AYUSH Mission', launched in 2014, is to:
142
The economic policies of the British Raj had a lasting impact on India, including:
143
The primary aim of the 'Skill India' mission, launched in 2015, is to:
144
The economic policies adopted by India during the COVID-19 pandemic primarily focused on:
145
The primary objective of the 'Production Linked Incentive' (PLI) scheme, launched in recent years, is to:
Benefits of Practicing Indian Economy MCQs
- Frequently asked in UPSC, SSC, Banking, Railways, and State exams
- Helps build strong foundational knowledge of how the Indian economy works
- Useful for interviews, essay writing, and current affairs sections
- Reinforces learning through practice-based revision
- Relevant for economics, commerce, and finance-related roles
Note
Understanding the Indian economy not only helps in exams but also improves your overall awareness as a citizen. With GKwizard’s MCQs, you can revise important concepts, practice exam-style questions, and boost your preparation for any competitive test.