Indian Economy part 1

Important Questions of Indian Economy

The central banking functions in India are performed by the
Ans:- Reserve Bank of India

Gilt-edged market means
Ans:- market of government securities

The first wholly Indian Bank was set up in
Ans:- 1894

States earn maximum revenue through
Ans:- commercial taxes

The co-operative credit societies have a
Ans:- three-tier structure

Devaluation of currency will be more beneficial if
Ans:- prices of exports remain constant

Reserve Bank of India was nationalized in the year
Ans:- RBI established in 1935 and nationalized in 1949

Fiscal deficit in the Union Budget means
Ans:- the sum of budgetary deficit and net increase in internal and external borrowings

How many banks were nationalized in 1969?
Ans:- 14

Resurgent India Bonds were issued in US dollar, Pound Sterling and
Ans:- Deutsche Mark

Paper currency first started in India in
Ans:- 1861

Devaluation of currency leads to
Ans:- increase in domestic prices

What is the mainstay of Indian economy ?
Ans:-  Agriculture

Economic survey is published by
Ans:- Ministry of Finance

India had a plan holiday:
Ans:- After the drought of 1966

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