TIPS 16 ON THE INDIAN ECONOMY
1. Who is the Chairperson of GST Council? = Union Finance Minister
2. From which date Revision of GST rates effected in 2025? = 22.09.2025
3. What is the GST rate for pre-packed paneer, Roti and paratha w,e.f 22.09.2025? = ‘0’ percentage
4. What is the GST rate for Tobacco , pan masala? = 40%
5. What is the GST rate for TVs and ACs? = 18%
6. What is the GST Rate for Speed Post Articles booking in Post Office? = 18 %
7. What is the GST Rate for Postal life Insurance and Rural Postal Life Insurance? = ‘0’ percent
8. What is the GST rate for Idlis and Dosas served at stand alone restaurants? = 5 %
9. Which type of roads carries the highest road traffic in India? = National Highways
10. What is the percentage of the disabled population in India according to the 2011 Census? = 2.21%
11. According to Census of India 2011, among the Seven Sisters States, which state has the highest GST rate? = Mizoram
12. What was the contribution of the agriculture sector to the GDP in 1950? = 56.6 %
13. How much maximum amount of loan can be taken from Pradhan Mantri Mudra Yojna-2015? = Rs. 10 lakhs
14. Who is the author of the book “ Planned Economy of India”? = JRD Tata
15. What is mean by “Open Unemployment”? =People willing to work are unable to find jobs
16. What is ‘Educated unemployment’? = Educated individuals struggle to find jobs matching their qualification, mainly in urban area
17. What are the methods of measuring national income? = Production Method, Income method, Expenditure method
18. What are Food Crops? = Crops grown for human consumption, such as rice, wheat and maize
19. What are Cash crops? = Crops cultivated for sale and profit, like cotton, sugarcane and tobacco
20. What are Horticultural crops? = Crops that include fruits, vegetables and flowers such as Apples and tomatoes
21. As per census 2011 what is the Literacy rate of India? = 74.04 %
22. Where is the Head Quarters of Coffee Board? = Bangalore, Karnataka
23. Where is the Head quarters of Tea Board?= Kolkatta, West Bengal
24. Where is the Head quarters of Rubber Board? = Kottayam, Kerala
25. Which state is highest tea producer in India? = Assam
26. According to the Census of India,2011, among the following, which State has the highest sex ratio? UttarPradesh , Rajasthan, Bihar and Andra Pradesh
= Andra Pradesh
(Sex ratio is the number of females per 1,000 males in a population.)
27. What is the position of India in producing Rice, Wheat, Sugar and Sugarcane? = 2nd in the world
28. Which country is the largest producer of coconuts, milk and dairy products? = India
29. What is “Pradhan Mantri Ayushman Bharat Health infrastructure Mission”? = Launched in 2021. It focuses on primary , secondary, and tertiary health capacity development.
30. What is “Pradhan Mantri Swasthya Suraksha Yojana”?= Launched in 2003, aims to reduce regional health care disparities and promote medical education.
31. What is the full form of SAIL = Steel Authority of India Limited
32. What is the full form of BPCL? =Bharat Petroleum Corporation Ltd.
33. What is the full form of GAIL? = Gas Authority of India Ltd
34. How many phases are involved in the Census operations in India?= Two
Indian Census operations involve two phases: Phase I, the House Listing and Housing Census, and Phase II, the Population Enumeration. During the first phase, details about buildings are collected, followed by the population census where each person's individual particulars are recorded.
35. Which is the best indicator of the borrowings of the Government? = Fiscal deficit
36. Productivity of which crop had initially increased due to Green Revolution = Wheat and Rice
37. What is Kharif Crops? = Kharif Crops are sown in July and harvested in October.
Examples Maize, Cotton, Sugarcane , Soyabean and Ground nuts
38. What is Rabi Crops? = Rabi Crops are Sown in October and harvested in March/April examples : Wheat , barley, Gram , mustard
39. According to Census 2011, which State has the highest number of slum population? = Maharashtra
40. What is the full form of NABARD? =National Bank for Agriculture and Rural Development
41. When was NABARD Established? = 1982 by Reserve bank of India
42. Top five States of high literacy Rate = Kerala, Lakshadweep, Mizoram, Goa and Tripura
43. Top five States of Highest Population = Uttar Pradesh, Maharashtra, Bihar, West Bengal and Madhya Pradesh
44. What is full form of GNP = Gross National Product
45. What is full form of GDP = Gross Domestic Product
46. In which income group, India is included by World Bank = Lower-Middle-Income Group
47. When was NITI Aayog established? = In 01.01.2015
48. What are the functions of NITI Aayog? = NITI Aayog functions as policy think tank providing strategic and technical advice to Central and State Government.
49. Who is the author of Book ‘ Principles of economics’?= Alfred Marshal
50. What is PM-JAY? = Pradhan Mantri Jan Arogya Yojana
51. What is the health Insurance Coverage under PM-JAY? = 5 lakh per family per annum for health care to all senior citizens aged 70 and above
52. When was State Bank of India established? = In 1955
53. When was Reserve Bank of India established? = In 1935
54. Who is the Governor of Reserve Bank of India? = Sanjay Malhotra
55. When was India Post Payment Bank (IPPB) established?= From 01.09.2018
56. What is maximum balance allowed in IPPB Saving account?= 2 lakhs
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