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SSC CGL Preparation – Day 6
MCQ Practice – Indian Economy Overview
1. Which of the following best describes the Indian economy?
A) Capitalist Economy
B) Socialist Economy
C) Mixed Economy
D) Command Economy
Answer: C) Mixed Economy
Explanation: India follows a mixed economy model, combining both private and public sector roles.
2. Which sector contributes the most to India’s GDP?
A) Agriculture
B) Industry
C) Services
D) Mining
Answer: C) Services
Explanation: The tertiary (services) sector is the largest contributor to India’s GDP.
3. When was the Planning Commission of India replaced by NITI Aayog?
A) 2012
B) 2015
C) 2014
D) 2010
Answer: B) 2015
Explanation: NITI Aayog was formed in January 2015 to replace the Planning Commission.
4. The term ‘Demographic Dividend’ refers to:
A) Population growth
B) Youth unemployment
C) Working-age population surplus
D) Increase in elderly population
Answer: C) Working-age population surplus
Explanation: India has a large working-age population which is called a demographic dividend.
5. Which organisation is responsible for calculating National Income in India?
A) RBI
B) NITI Aayog
C) CSO
D) SEBI
Answer: C) CSO
Explanation: The Central Statistical Office (now part of MoSPI) calculates National Income.
6. Which of the following was NOT a part of 1991 economic reforms?
A) Liberalization
B) Nationalization
C) Privatization
D) Globalization
Answer: B) Nationalization
Explanation: Nationalization occurred mainly in the 1960s and 70s. The 1991 reforms promoted privatization.
7. Which program aims to boost startups in India?
A) Digital India
B) Ujjwala Yojana
C) Make in India
D) Start-up India
Answer: D) Start-up India
Explanation: Start-up India was launched to encourage innovation and entrepreneurship.
8. What does FDI stand for?
A) Foreign Dividend Investment
B) Foreign Development Initiative
C) Foreign Direct Investment
D) Fiscal Debt Inclusion
Answer: C) Foreign Direct Investment
Explanation: FDI refers to investments made by a foreign entity directly in the business interests of another country.
9. Which of the following schemes is related to rural employment?
A) MNREGA
B) Ayushman Bharat
C) PM-KISAN
D) Digital India
Answer: A) MNREGA
Explanation: Mahatma Gandhi National Rural Employment Guarantee Act provides rural employment.
10. What is the current main focus of the government under “Aatmanirbhar Bharat”?
A) Population control
B) Import substitution and self-reliance
C) Encouraging migration
D) Increase foreign debt
Answer: B) Import substitution and self-reliance
Explanation: Aatmanirbhar Bharat emphasizes domestic manufacturing and economic self-reliance.
