Indian Economy Question and Answer – Economic and commercial developments for competitive examinations are an important subject, especially for examinations like banks, UPSC and IAS. There are a number of questions based on Indian Economy, Monetary Policy, Agriculture, Five Year Plan, Mixed Economy, Latest Economy Current Affairs, which are here to keep you updated and get success in the interview.

1. When did India cross China Population?
Question Asked : MPPCS (Pre) 1996

(A) 2015
(B) 2017
(C) 2019
(D) Has not crossed

2. Which country will be the most populous in 2050?
Question Asked : MPPCS (Pre) 1996

(B) China
(A) India
(C) Nigeria
(D) Pakistan

3. What Year Will India pass China in population?
Question Asked : MPPCS (Pre) 1996

(B) 2024
(A) 2027
(C) 2030
(D) 2050

4. How much Indian Black Money is in Abroad

Unaccounted wealth stashed abroad by Indians is estimated to be in the range of $216.48 billion to $490 billion between 1980 and 2010. The observation has been made by the Standing Committee on Finance in a report tabled in 17th Lok Sabha Budget Session on June 24, 2019. The 73rd report of the committee tided “status of unaccounted income/wealth both inside and outside the country-a critical analysis (a preliminary report)” was tabled in both the Houses of Parliament. The preliminary report was earlier presented to the then Lok Sabha Speaker Ms. Sumitra Mahajan on March 28, 2019, a copy of which was also uploaded on the Lok Sabha website following the directions of the committee. The report on black money, however, does not put out a final figure regarding the amount of the illicit funds stashed abroad or within in the country.

The report is a conclusive document derived from the studies of three institutes-National Institute of Public Finance and Policy (NIPFP), the National Council of Applied Economic Research (NCAER) and the National Institute of Financial Management (NIFM). These three institutes were asked by the government in 2011 to give an estimate of the quantum of black money abroad and in the country. However, after going through their respective reports, the standing committee “found a wide variation” in their evaluation. All three independent studies gave varied results throwing the estimates to be anything between 7% and 120% of Gross Domestic Product (GDP).

The report recommends to the government that (i) the Revenue Department of the Union Finance Ministry must make more robust attempts to find out black money in the country; (ii) the Department must also act on these three reports as well as all seven reports presented by the Special Investigation Team (SIT) constituted to investigate the black money; and (iii) the draft of the Direct Tax Code (DTC) must be prepared and presented in the Parliament at the earliest so that the direct tax legislations could also be streamlined like the GST.

5. Which first satellite launched by Nepal?

(A) Nepal-1
(B) NepaliSatellite-1
(C) NepaliSat-1
(D) FirstNepal

6. What is the rank of India in World Press Freedom Index 2019?

(A) 130th
(B) 135th
(C) 140th
(D) 144th

7. The Nugen Mobility Summit 2019 in which Country

(A) China
(B) Japan
(C) India
(D) South Korea

8. Who is the new Chairman of NASSCOM

(A) Rishad Premji
(B) Manu Sawhney
(C) Keshav Murugesh
(D) Raman Roy

9. What is ‘Shadow Banking’?
Question Asked : UP PCS Review Officer/Asst. Review Officer (Pre) Exam, 2014

(A) Outsourcing of banking work by a bank
(B) Financial transactions and other activities of non-banking financial intermediary
(C) Domestic banks’ foreign operations
(D) Foreign bank operating in another country for banking and other activities

10. In the Union Budget of 2015-16 which one of the Pension Schemes has been re introduced?
Question Asked : UP PCS Review Officer/Asst. Review Officer (Pre) Exam, 2014

(A) Ram Manohar Lohia Pension Yojana
(B) Pradhan Mantri Pension Yojana
(C) Atal Pension Yojana
(D) Nirantar Pension Yojana