WorksheetsIndian Economy - oct 2025
Total questions: 20
Worksheet time: 13mins
The major reform in the Indian financial sector after 1991 was the introduction of:
a) Nationalization of banks
b) Liberalization and deregulation
c) Social banking scheme
d) Green banking
The IT and Business Process Outsourcing (BPO) industry is a major contributor to:
a) Manufacturing exports
b) Agricultural exports
c) Service exports
d) Mining exports
The (a) reforms in 1991 marked the beginning of financial sector liberalization in India.
Assertion: India became a major exporter in services after liberalization.
Reasoning: Policy reforms promoted IT, telecommunications, and professional services.
a) Both A and R are true, and R is the correct explanation of A.
b) Both A and R are true, but R is not the correct explanation of A.
c) A is true, but R is false.
Assertion: India’s external sector performance weakened after globalization.
Reasoning: Globalization restricted India’s access to foreign markets.
a) Both A and R are true, and R is the correct explanation of A.
b) Both A and R are true, but R is not the correct explanation of A.
c) A is false, but R is true.
d) Both A and R are false.
Recently the official poverty line in India is determined by:
a) Planning Commission
b) Reserve Bank of India
c) NITI Aayog
d) Finance Commission
The Public Distribution System (PDS) primarily distributes:
a) Luxury goods
b) Essential food grains
c) Industrial raw materials
d) Export goods
The concept of Universal Basic Income (UBI) in India was discussed in:
a) 1991 Economic Survey
b) 2016–17 Economic Survey
c) 2005 Planning Commission Report
d) 2010 NITI Aayog Paper
Poverty estimation in India is based on (a) consumption expenditure.
The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) aims to reduce (a) .
Cash transfers are considered an alternative to (a) .
Poverty has been completely eradicated in India. – say true or false
True
False
Both
None of the above
Economic growth has helped reduce poverty in India. – Say true or false
true
false
both
none of the above
Assertion: Poverty declined significantly in India after liberalization.
Reasoning: Economic reforms increased growth and employment opportunities.
a) Both A and R are true, and R is the correct explanation of A.
b) Both A and R are true, but R is not the correct explanation of A.
c) A is true, but R is false.
d) A is false, but R is true.
Assertion: Cash transfers may be more efficient than PDS.
Reasoning: They reduce leakage and administrative costs.
a) Both A and R are true, and R is the correct explanation of A.
b) Both A and R are true, but R is not the correct explanation of A.
c) A is true, but R is false.
d) A is false, but R is true.
A: Female labour participation in India is low.
R: Cultural norms and domestic responsibilities limit women’s economic participation.
a) Both A and R are true, and R is the correct explanation of A.
b) Both A and R are true, but R is not the correct explanation of A.
c) A is true, but R is false.
d) A is false, but R is true.
A: Informal sector workers often lack job security.
R: Most informal jobs are unregistered and lack legal protection.
a) Both A and R are true, and R is the correct explanation of A.
b) Both A and R are true, but R is not the correct explanation of A.
c) A is true, but R is false.
d) A is false, but R is true.
“Jobless growth” refers to:
a) Growth without inflation
b) Growth without employment creation
c) Growth with reduced exports
d) Growth with fiscal deficit
The majority of India’s workforce is employed in the:
a) Organized sector
b) Informal sector
c) Corporate sector
d) Government sector
Gender equality is one of the goals of the (a) Development Goals.
