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)
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.