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Indian Economy Flashcards

7 cards from real CDS practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Indian Economy flashcards as text

  1. Which organisation replaced the Planning Commission of India in 2015?

    Answer: NITI Aayog

    NITI Aayog (National Institution for Transforming India) replaced the Planning Commission on 1 January 2015.

  2. The Goods and Services Tax (GST) was implemented in India on which date?

    Answer: 1 July 2017

    GST was rolled out on 1 July 2017, replacing a complex multi-layered indirect tax structure with a unified tax system.

  3. Which Indian bank was the first to be nationalised in 1969?

    Answer: 14 major commercial banks simultaneously

    In July 1969, 14 major commercial banks with deposits above ₹50 crore were nationalised simultaneously under Prime Minister Indira Gandhi.

  4. What is the primary objective of monetary policy in India?

    Answer: Maintaining price stability while keeping growth in mind

    The RBI's primary monetary policy objective, mandated by the RBI Act, is maintaining price stability (controlling inflation) while keeping growth in mind.

  5. Which index measures inflation at the wholesale level in India?

    Answer: Wholesale Price Index (WPI)

    The Wholesale Price Index (WPI) tracks price changes at the wholesale level, measuring inflation from the producer's perspective in India.

  6. The term 'Disinvestment' in the Indian economy refers to:

    Answer: Sale of government equity in public sector undertakings

    Disinvestment refers to the sale or liquidation of government equity (assets) in public sector undertakings, used to raise revenue and improve efficiency.

  7. Which of the following is a direct tax in India?

    Answer: Income Tax

    Income Tax is a direct tax levied directly on an individual's or entity's income, collected by the Central Board of Direct Taxes (CBDT).

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