INSIGHT UPSC QUIZ

The British introduced the railways in India in 1850 and it is considered as one of their most important contributions. In which of the following way(s) the railways affected the economic structure of the India?

1. It enabled people to break geographical and cultural barriers.

2. It fostered commercialisation of Indian agriculture.

Which of the statement(s) given above is/are correct?

Money is accepted as a medium of exchange because the given currency is authorised by the government of the country. Which among the following are modern forms of money/currency?

In context of LPG reforms ushered in the Indian economy AFTER 1991, consider the following statements:

1. The reform policies led to the establishment of private sector banks, Indian as well as foreign.

2. The financial sector was allowed to take decisions on many matters without consulting the RBI. 

3. Foreign Institutional Investors (FIIs) were denied permission to invest in Indian financial markets. 

Which of the statement(s) given above is/are correct?

With reference to pre-liberalisation era, which of the following factors were responsible for underdevelopment and stagnation of the Indian economy?

Which of the following should be the focus areas in order to bring about comprehensive rural development in India?

 With reference to Indian economy, which among the following were the measures undertaken by Indian Government to bring about revolution in agriculture?

Consider the following statements:

1. In 1991, as an immediate measure to resolve the balance of payments crisis, the rupee was devalued against foreign currencies.

2. Devaluation is done in order to encourage imports and increase the inflow of foreign currency in an economy.

Which of the statement(s) given above is/are correct?

Arrange the following ‘Non-Tax Revenue’ sources of the Union Government in decreasing order: 

1. Dividends and Profits. 

2. Interest receipts. 

3. Receipts of Union Territories.

4. External Grants.

Select the correct answer using the code given below.

The GDP of a country cannot be taken as an index of the welfare of the people of that country because:

1. The rise in GDP may be concentrated in the hands of very few individuals or firms.

2. Many activities in an economy are not evaluated in monetary terms.

3. It does not give information about the size of the economy.

4. Externalities do not have any market in which they can be bought and sold.

Which of the statements given above are correct?

Arrange the following sources of earning of Union Government of India in decreasing order:

1. Custom duties.

2. Non-Tax Revenue.

3. Non-Debt Capital Receipts.

4. Union Excise Duties.

Select the correct answer using the code given below.