Introduction Public debt is an integral aspect of a nation’s economy, often reflecting its fiscal policies, economic health, and growth trajectory. In India, the public debt has reached alarming levels, raising concerns about sustainability, economic stability, and future growth prospects.…
What is public debt? A) Debt incurred by private individuals B) Debt incurred by the government C) Debt incurred by corporations D) Debt incurred by foreign nations Answer: B) Debt incurred by the government Which of the following is a…
Introduction The Indian economy, characterized by its diversity and dynamism, has witnessed remarkable transformations over the past few decades. Among the various sectors that contribute to this transformation, the service sector stands out as a pivotal driver of economic growth.…
What percentage of India's GDP was contributed by the service sector in 2021-2022? A) 45% B) 55% C) 60% D) 70% Answer: C) 60% Which of the following is the largest segment of the service sector in India? A) Financial…
Introduction Foreign exchange reserves play a crucial role in the financial stability and economic growth of a nation. They are assets held in foreign currencies and serve as a buffer against economic shocks, currency fluctuations, and external pressures. For India,…
What are foreign exchange reserves? A) Gold reserves held by the government B) Foreign currency deposits held by a country's central bank C) Bonds issued by foreign governments D) None of the above Answer: B) Foreign currency deposits held by…
What does FDI stand for? a) Foreign Direct Investment b) Foreign Development Investment c) Free Direct Investment d) None of the above Answer: a) Foreign Direct Investment Which year marked a significant liberalization of FDI policies in India? a) 1991…
Introduction Infrastructure development is the backbone of any economy, acting as a catalyst for economic growth and development. In India, a country characterized by its vast geography, diverse population, and varying levels of economic development, infrastructure plays a crucial role…
What is the primary purpose of infrastructure development in India? A) Enhancing tourism B) Economic growth and development C) Reducing population density D) Urban planning Answer: B) Economic growth and development Which of the following sectors is primarily responsible for…
Introduction Inclusive growth is a developmental approach that aims to ensure that the benefits of economic growth are distributed equitably across society. In India, a nation characterized by stark socio-economic disparities, the concept of inclusive growth has become a critical…
What is meant by 'inclusive growth'? A) Growth that benefits only a specific group B) Growth that includes all sections of society C) Economic growth with no regard for social aspects D) Growth driven solely by urban development Answer: B)…
Introduction The Indian economy, one of the largest and fastest-growing economies in the world, has undergone significant transformations since its independence in 1947. The balance between the public and private sectors has been a central theme in this evolution, shaping…
Which of the following sectors is primarily owned and operated by the government in India? A) Private Sector B) Public Sector C) Cooperative Sector D) None of the above Answer: B) Public Sector What is the primary objective of the…
Introduction In July 2017, India embarked on a transformative journey by implementing the Goods and Services Tax (GST), a landmark reform aimed at simplifying the taxation landscape of the country. Dubbed as "One Nation, One Tax," GST was designed to…
What does GST stand for? a) General Sales Tax b) Goods and Services Tax c) Global Sales Tax d) Goods and Services Transaction Answer: b) Goods and Services Tax When was GST implemented in India? a) July 1, 2016 b)…
Introduction Demonetization, as announced on November 8, 2016, was one of the most significant and controversial economic policy decisions in independent India. Prime Minister Narendra Modi declared that ₹500 and ₹1000 notes, which constituted 86% of the currency in circulation,…
Introduction In a democratic framework, rights and responsibilities are two sides of the same coin. While the Constitution of India enshrines an extensive list of Fundamental Rights under Part III, it also emphasizes the importance of responsibilities through the inclusion…
Which part of the Indian Constitution contains the Fundamental Duties? A) Part II B) Part III C) Part IV D) Part IV-A Answer: D) Part IV-A How many Fundamental Duties are enumerated in the Constitution of India? A) 8 B)…
Introduction In a vibrant democracy like India, where diverse voices compete for attention, the media plays a crucial role in shaping public discourse, informing citizens, and acting as a watchdog over the government. The media, often referred to as the…
Which of the following best describes the primary role of media in a democracy? A) To entertain the public B) To inform citizens and promote public discourse C) To advertise products D) To support the government Answer: B) To inform…
Introduction The intricate tapestry of Indian society is woven with various threads, among which caste holds a significant position. Caste, historically defined as a social stratification system, has had profound implications for politics in India. It influences voting behavior, party…