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1. In the context of independent India’s economy, which one of the following was the earliest event to take place?

a) Introduction of the First Five Year Plan

b) Enactment of Banking Regulation Act

c) Nationalisation of Insurance Companies

d) None of these


2. In which Five Year Plans was emergency clamped, the new election took place and Janta Party was elected?

a) Sixth Five Year Plan

b) Fifth

c) Seventh

d) Fourth


3. How does the National Rural Livelihood Mission seek to improve livelihood option of rural poor?

1) By supplying seeds, fertilizers, diesel pump-sets and micro-irrigation equipment free of cost to farmers. 

2) By setting up a large number of new manufacturing industries and agribusiness centres in rural areas.

Select the correct answer using the codes given below:

a) Only 1

b) Only 2

c) Both 1 and 2

d) None of these


4. Which of the following is NOT a part of the “second generation of Economic Reforms identified by the government?

a) Oil-sector Reforms

b) Public-sector Reforms

c)Reform of government and public institutions

d) Legal system Reforms

Ans: D

5. Motivations given to Multinational companies in India means encouragement of:

a) Privatization policy

b) Globalization policy

c) Liberalization policy

d) All of these

Ans: D

6. Who is called the pioneer of liberalization of the Indian economy?

a) Dr.ManMohan Singh

b) P.V.Narasimha Rao

c) Dr.BimalJalan

d) P.Chidambaram

Ans: A

7. Public Distribution System (PDS) is aimed at:

a) Providing food security to the poor

b) To prevent hoarding and black-marketing

c) To prevent overcharging by traders

d) All of these

Ans: D