Which tax is a direct tax?
- AIncome tax
- BGST
- CCustoms duty
- DExcise duty
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Answer: (A) Income tax
UPSC Civil Services Economy Questions with Answers & Explanations
20 Economy questions from the Economy section of UPSC Civil Services, each with the correct answer and a worked explanation. Try each question first, then tap Show answer to check. When you're ready, take the timed chapter-wise test to see your all-India rank.
The RBI was nationalised in
- A1955
- B1949
- C1935
- D1969
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Answer: (B) 1949
GST in India was implemented from
- A1 April 2017
- B1 July 2017
- C1 January 2018
- D1 April 2016
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Answer: (B) 1 July 2017
The Bombay Stock Exchange index is called
- ANIFTY
- BSENSEX
- CNASDAQ
- DDOW
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Answer: (B) SENSEX
The Reserve Bank of India was established in
- A1949
- B1935
- C1969
- D1947
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Answer: (B) 1935
NITI Aayog replaced the
- ANational Development Council
- BElection Commission
- CPlanning Commission
- DFinance Commission
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Answer: (C) Planning Commission
Microfinance mainly provides
- ASmall loans to low-income people
- BLarge loans to industries
- CInsurance to companies
- DForeign exchange to exporters
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Answer: (A) Small loans to low-income people
Inflation means a
- ARise in unemployment
- BRise in exports
- CGeneral rise in the price level
- DFall in prices
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Answer: (C) General rise in the price level
The Union Budget is presented under which Article?
- AArticle 110
- BArticle 280
- CArticle 266
- DArticle 112
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Answer: (D) Article 112
SEBI regulates the
- ATelecom sector
- BSecurities (stock) market
- CBanking sector
- DInsurance sector
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Answer: (B) Securities (stock) market
Ready for the real thing?
Timed Economy test · 12 questions · instant rank
The Reserve Bank of India was established in
- A1969
- B1949
- C1935
- D1947
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Answer: (C) 1935
The repo rate is the rate at which
- ABanks lend to customers
- BRBI lends to commercial banks
- CRBI borrows from the government
- DBanks borrow from the public
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Answer: (B) RBI lends to commercial banks
The National Stock Exchange index is called
- ASENSEX
- BNIKKEI
- CNIFTY 50
- DFTSE
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Answer: (C) NIFTY 50
The RBI was nationalised in
- A1949
- B1969
- C1955
- D1935
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Answer: (A) 1949
Fourteen major commercial banks were nationalised in
- A1991
- B1980
- C1949
- D1969
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Answer: (D) 1969
The Indian financial year runs from
- AJanuary to December
- BApril to March
- COctober to September
- DJuly to June
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Answer: (B) April to March
GDP measures the total value of
- AGovernment expenditure only
- BExports minus imports
- CIncome of citizens abroad
- DFinal goods and services produced within a country
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Answer: (D) Final goods and services produced within a country
The New Economic Policy (liberalisation) in India was introduced in
- A1985
- B2000
- C1991
- D1980
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Answer: (C) 1991
The headquarters of the Reserve Bank of India is in
- ANew Delhi
- BChennai
- CKolkata
- DMumbai
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Answer: (D) Mumbai
The repo rate is the rate at which
- ARBI lends to commercial banks
- BRBI borrows from the government
- CBanks lend to customers
- DBanks borrow from the public
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Answer: (A) RBI lends to commercial banks
These are RankerClub practice questions written in the UPSC Civil Services pattern. They are not official SSC/IBPS/RRB papers.
