Economy and Finance Questions and Answers for TNPSC Exam Part 1
1. What does GDP stand for in economics?
Gross Domestic Product
2. Which organization is responsible for
regulating and supervising the banking sector in India?
Reserve Bank of India (RBI)
3. What is the currency of India?
Indian Rupee (INR)
4. Which financial institution in India
provides long-term loans to industrial and infrastructure projects?
Industrial Development Bank of India (IDBI)
5. What is the primary function of the
Securities and Exchange Board of India (SEBI)?
Regulating and overseeing the securities market in India
6. Which government body in India is
responsible for formulating and implementing the country's monetary policy?
Reserve Bank of India (RBI)
7. What is the purpose of the National Stock
Exchange (NSE) in India?
Facilitating electronic trading of stocks and securities
8. Which tax is levied on the income of
individuals and businesses in India?
Income Tax
9. What is the minimum voting age for the
general elections in India?
18 years
10. Which government body releases the annual
Economic Survey of India?
Ministry of Finance, Government of India
11. What is the term for the total value of
goods and services produced within a country's borders in a specific time
period?
Gross Domestic Product (GDP)
12. What is the main objective of the Make in
India initiative launched by the Government of India?
Promoting domestic manufacturing and attracting foreign investment
13. Which stock exchange is located in Mumbai
and is one of the oldest in Asia?
Bombay Stock Exchange (BSE)
14. What is the full form of NABARD, a
financial institution in India?
National Bank for Agriculture and Rural Development
15. Which tax is levied on the consumption of
goods and services in India?
Goods and Services Tax (GST)
16. What is the term for a sustained increase
in the general price level of goods and services in an economy?
Inflation
17. Which government body in India is
responsible for regulating and developing the insurance industry?
Insurance Regulatory and Development Authority of India (IRDAI)
18. What is the purpose of the National Rural
Employment Guarantee Act (NREGA) in India?
Providing employment opportunities to rural households
19. Which scheme provides direct cash
transfers to eligible beneficiaries in India to promote financial inclusion?
Pradhan Mantri Jan Dhan Yojana (PMJDY)
20. What is the term for the total value of a
country's exports minus the total value of its imports?
Balance of Trade
