The Indian economy is a dynamic landscape shaped by various factors such as policies, international trade, demographics, and technological advancements. For candidates aspiring to excel in the OSSC (Odisha Staff Selection Commission) Excise SI (Sub-Inspector) exam, a strong grasp of economic concepts is indispensable. To aid in your preparation, we’ve curated a list of the top 30 multiple-choice questions (MCQs) covering diverse aspects of the Indian economy.
Top 30 Indian Economy MCQs for OSSC Excise SI
- Which of the following states is the largest canal-irrigated state in India?
(a) Haryana
(b) Rajasthan
(c) Uttar Pradesh
(d) Punjab
Ans. b - Which three states are the top three producers of food grains in India?
(a) U.P., Punjab, Madhya Pradesh
(b) Punjab, U.P., Madhya Pradesh
(c) Madhya Pradesh, U.P., Punjab
(d) U.P., Gujarat, Madhya Pradesh
Ans. a - Which state is the biggest tank-irrigated state in India?
(a) Tamil Nadu
(b) Karnataka
(c) Andhra Pradesh
(d) Odisha
Ans. c - In which year was the first agricultural census of India conducted?
(a) 1880
(b) 1890
(c) 1921
(d) 1970
Ans. d - Which of the following crops is covered in the ISOPOM scheme?
(a) Oilseeds
(b) Pulses
(c) Maize
(d) All of the above
Ans. d - The newly released CSR-43 is a seed crop of which plant?
(a) Tea
(b) Wheat
(c) Rice
(d) Maize
Ans. c - What is the main source of irrigation in India?
(a) Tubewells
(b) Canal
(c) Tanks
(d) Rivers
Ans. a - Who is considered the father of community development programmes in India?
(a) Vinoba Bhave
(b) Bindeshwar Pathak
(c) Dr. Ambedkar
(d) S.K. Dey
Ans. d - Which three Indian states have the least population of poor in the country?
(a) Kerala, Himachal Pradesh, and Punjab
(b) Punjab, Delhi, and Himachal Pradesh
(c) Sikkim, Kerala, and Gujarat
(d) Maharashtra, Kerala, and Haryana
Ans. a - Which country is the biggest producer of food grain in the world?
(a) India
(b) China
(c) USA
(d) Brazil
Ans. b - In census 2011, which of the following states has the minimum population density?
(a) Bihar
(b) Kerala
(c) Goa
(d) Arunachal Pradesh
Ans. d - Which of the following taxes is imposed by the state government?
(a) Gift tax
(b) Property tax
(c) Road tax
(d) None of these
Ans. c - Which of the following is not matched correctly?
(a) IFCI established: 1948
(b) NABARD established: 1982
(c) EXIM Bank established: 1988
(d) SIDBI established: 1990
Ans. c - Balance of payment includes only …………..…in its calculation.
(a) Visible goods
(b) Invisible goods
(c) Both a & b
(d) None of these
Ans. c - Which of the following statements is correct?
(a) Balance of trade includes only invisible goods.
(b) Balance of payment is always in equilibrium in accounting sense
(c) When export exceeds the import, the balance of payment is termed as unfavorable
(d) When local currency devalues, the exported quantity of the domestic country decreases
Ans. b - Appreciation of domestic currency means…………………..???
(a) Value of domestic currency increases
(b) Value of domestic currency decreases
(c) First increases then decreases
(d) First decreases then increases
Ans. a - Inflation is a situation in which…………………………..
(a) Value of money decreases
(b) Value of money increases
(c) First increases then decreases
(d) First decreases then increases
Ans. a - Why does a government devalue its currency?
(a) To increase export
(b) To reduce import
(c) To decrease export
(d) Both a & b
Ans. d - Which of the following statements is not correct?
(a) Birth rate is the number of births per thousand of the population during a year.
(b) Blue chip is a company which does not guarantee about the return on an investment
(c) Bull is a person who is optimistic about the share market
(d) Boom is a situation of an economy in which price and employment are the maximum
Ans. b - What kind of unemployment is found in the agricultural sector of India?
(a) Situational
(b) Voluntary
(c) Frictional
(d) Disguised
Ans. d - Which of the following regulates the working of share markets in India?
(a) MRTP Act
(b) FERA
(c) FEMA
(d) None of these
Answer: d - Which of the following panels was appointed to put forward recommendations on GAAR?
(a) Reddy panel
(b) P. Shome panel
(c) Rangarajan panel
(d) None of these
Answer: b - SDR is the currency of the IMF, which is also called as _______.
(a) White gold
(b) Bookkeeping entry only
(c) Paper gold
(d) Yellow metal
Answer: c - What is MCX-SX?
(a) Third online trading share market in India
(b) A new insurance company which is not registered with the government yet
(c) Online trading market on paper only
(d) Online trading market dealing only in gold
Answer: a - Open market operations (OMOs) are related to _______.
(a) Fiscal policy
(b) Monetary policy
(c) Labour policy
(d) Agricultural policy
Answer: b - Who regulates the finance market in India?
(a) Ministry of finance
(b) Reserve Bank of India
(c) Ministry of trade and commerce
(d) SEBI
Answer: d - Which of the following is a credit rating agency?
(a) CRY
(b) IBRD
(c) ICRA
(d) IRDA
Answer: c - When was COPRA implemented in India?
(a) 1984
(b) 1985
(c) 1986
(d) 1988
Answer: c - The rate at which the RBI gives short-term loans to commercial banks?
(a) Bank rate
(b) Repo rate
(c) Reverse Repo Rate
(d) Prime lending rate
Answer: b - Which of the following is a direct tax?
(a) Corporation tax
(b) Custom duty
(c) Excise duty
(d) Service tax
Answer: a
