Indian Economy MCQ Set-14

Post Economic Liberalization MCQ for competitive examinations in India such as UPSC CSE, State PSC, IBPS PO, SBI PO, IBPS SO, IBPS RRB, IBPS Clerk and various government & public sector undertaking jobs in India.

Q.1 Post economic reform in 1991 of India, Stabilization Measures and Structural Reforms Measures are the two group of which policy?

A. New Industrial Policy

B. New Economic Policy

C. Monetary Policy

D. Trade Policy

Answer: B. New Economic Policy

Q.2 Which of the following is NOT a Maharatna Company of Union Government?

A. Bharat Heavy Electricals Ltd

B. Coal India Ltd


D. Hindustan Aeronautics Ltd

Answer: D. Hindustan Aeronautics Ltd

Q.3 Which of the following organization succeeded the General Agreement on Trade & Tariff (GATT)?

A. World Economic Forum

B. World Trade Organization

C. International Monetary Fund

D. World Bank

Answer: B. World Trade Organization

Q.4 Which of the following sector is the key to Indian Economic Growth following implementation of the New Economic Policy?

A. Agriculture

B. Service

C. Manufacturing

D. None of these

Answer: B. Service

Q.5 The New Economic Policy of India was introduced in which of the following year?

A. 1991

B. 1992

C. 1995

D. 2014

Answer: A. 1991

Q.6 The process through which a company hires services of other company is known as:

A. Outsourcing

B. Trade Agreement

C. Managed Services

D. Deregulation

Answer: A. Outsourcing

Note: Outsourcing is a process by which goods or services are obtained through contract from outside supplier.

Q.7 Fiscal Policy, also known as tax reforms that are concerned with Government’s_________ and ___________ policies. Fill in the blanks from the following?

A. Taxation and Monetary

B. Taxation and Public Expenditure

C. Taxation and Private Expenditure

D. None of these

Answer: B. Taxation and Public Expenditure

Q.8 Which of the following tax is levied on commodities?

A. Direct

B. Indirect

C. Both A & B

D. None of these

Answer: B. Indirect

Q.9 Under the 1991 economic reforms, Industrial license was abolished except for_______ industries. Fill in the blanks.

A. Liquor

B. Health, Security & Defence

C. Telecommunication

D. All of the above

Answer: D. All of the above

Q.10 Which of the following is the outcome of globalization in economy?

A. Privatization

B. Outsourcing

C. Liberalization

D. Reforms

Answer: B. Outsourcing

List of Indian Economy MCQ sets from