RRB NTPC Economics and Finance 3

Question 1

Which sector contributes the largest share to India's Gross Domestic Product (GDP)?

Accepted Answer

Services sector

Answer

The services sector (including IT, banking, retail, and hospitality) contributes over 50% to India's GDP, making it the largest contributor to the Indian economy.

Question 2

The base year currently used for calculating India's GDP at constant prices is:

Accepted Answer

2011-12

Answer

India revised its GDP base year to 2011-12 in January 2015, replacing the earlier base year of 2004-05, to more accurately reflect the current structure of the economy.

Question 3

What does the term 'disinvestment' mean in the context of the Indian government?

Accepted Answer

The government selling its stakes in public sector enterprises

Answer

Disinvestment refers to the process by which the government reduces its shareholding in Public Sector Undertakings (PSUs) by selling equity to raise funds and improve efficiency.

Question 4

India's Union Budget is typically presented in Parliament on which date?

Accepted Answer

February 1

Answer

Since 2017, the Union Budget has been presented on February 1 each year, changed from the last working day of February by Finance Minister Arun Jaitley.

Question 5

What does Balance of Trade (BoT) measure?

Accepted Answer

The difference between the value of a country's exports and imports of goods

Answer

Balance of Trade measures the difference between a country's merchandise (goods) exports and imports; a positive balance means a trade surplus and a negative balance means a trade deficit.

RRB NTPC Practice Test

RRB NTPC Practice Test

RRB NTPC Economics and Finance 3