WBCS Mains Indian Economy National Income Questions 2023

Q. Which of the following recorded highest growth rate in the Tenth Plan?

(A) Agriculture
(B) Services
(C) Manufacturing industry
(D) Mining

Correct Answer: (B) Services

Q. Which sector contributes most to Gross Domestic Product in India?

(A) The Industrial Manufacturing sector
(B) The Agricultural sector
(C) The Tertiary sector
(D) The Mining sector

Correct Answer: (C) The Tertiary sector

Q. In the composition of National Income in India, the contribution of the ________ is the highest.

(A) Primary Sector
(B) Secondary Sector
(C) Service Sector
(D) Social Sector

Correct Answer: (C) Service Sector

Q. National expenditure includes

(A) Consumption expenditure
(B) Investment expenditure
(C) Government expenditure
(D) All of the above

Correct Answer: (D) All of the above

WBCS Mains Indian Economy National Income Questions 2022

Q. Which one of the following is generally regarded as the true index of economic growth?

(A) An increase in national income at constant prices during a year.
(B) A sustained increase in real per capita income.
(C) An increase in national income at current prices over time.
(D) An increase in national income along with increase in population.

Correct Answer: (B) A sustained increase in real per capita income.

Q. In India, the main source of national income is

(A) Primary sector
(B) Secondary sector
(C) Tertiary sector
(D) Foreign-sector

Correct Answer: (C) Tertiary sector

Q. The most striking feature of the structural change in the Indian economy as the major contributor to growth, raising its share rather sharply in national output in the recent decades has been

(A) pre-eminence of agricultural sector.
(B) pre-eminence of services sector.
(C) pre-eminence of industrial sector.
(D) pre-eminence of external sector.

Correct Answer: (B) pre-eminence of services sector.

Q. First three decades of development planning observed

(A) High growth rate of GDP
(B) Hindu rate of growth of GDP
(C) Very high agricultural growth rate
(D) All of the above

Correct Answer: (B) Hindu rate of growth of GDP

WBCS Mains Indian Economy National Income Questions 2021

Q. The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of

(A) 15% to 20%
(B) 20% to 25%
(C) 25% to 30%
(D) 30% to 35%

Correct Answer: (C) 25% to 30%

Q. Which of the following explains the term ‘economic development’?

(A) Improvement in the technology involved
(B) Improvement in production
(C) Improvement in distribution system
(D) All of the above

Correct Answer: (D) All of the above

Q. National Income of India is competed by

(A) Finance Commission
(B) Indian Statistical Institute
(C) National Development Council
(D) Central Statistical Organisation

Correct Answer: (D) Central Statistical Organisation

Q. The value of national income adjusted for inflation is called

(A) Per capita income
(B) Disposable income
(C) Inflation Rate
(D) Real National Income

Correct Answer: (D) Real National Income

Q. The vicious circle argument points out the supply side connection between

(A) Productivity and Income
(B) Income and Population
(C) Investment and Technology
(D) Saving and Capital

Correct Answer: (D) Saving and Capital

Q. ‘Take off stage’ in an economy means

(A) steady growth begins.
(B) economy is stagnant.
(C) economy is about to collapse.
(D) all controls are removed.

Correct Answer: (A) steady growth begins.

Q. The per capita income has been low in India because

(A) of population growth.
(B) of price rise.
(C) more people are in rural areas.
(D) of regional imbalances.

Correct Answer: (A) of population growth.

WBCS Mains Indian Economy National Income Questions 2020

Q. Sectoral distribution as to gross domestic product (G D P) in India shows the following pattern now-a-days:

(A) Percentage share of industry sector is the highest
(B) Percentage share of the services sector is the highest
(C) Percentage share of industries and services sector together are around 50%
(D) None of the above

Correct Answer: (B) Percentage share of the services sector is the highest

Q. Which one of the following items is included in National Income?

(A) Subsidy on rationing
(B) Scholarship
(C) Administrative expenditure
(D) Relief grant

Correct Answer: (C) Administrative expenditure

Q. Contribution of agricultural sector in G.D.P. in India

(A) More than its percentage share in total employment of that sector.
(B) Less than the percentage share in total employment of that sector.
(C) Both are approximately equal.
(D) Uncertain.

Correct Answer: (B) Less than the percentage share in total employment of that sector.

Q. Contribution of savings as a percentage to G.D.P. is the highest in the sector ______

(A) Public sector
(B) Corporate business sector
(C) Household sector
(D) Industry sector

Correct Answer: (C) Household sector

Q. First five decades of planning observed, ______

(A) Hindu rate of growth of GDP
(B) High growth of per capita income
(C) Decline in per capita income
(D) High growth of GDP

Correct Answer: (A) Hindu rate of growth of GDP

Q. Which of the following items does not come under National Income measurement?

(A) Wages to agricultural labourer paid in kind.
(B) Receipt from second hand sale of an automobile.
(C) Profit of the public sector enterprises.
(D) Value of the product kept for self consumption.

Correct Answer: (B) Receipt from second hand sale of an automobile.

WBCS Mains Indian Economy National Income Questions 2019

Q. According to the data released by the Central Statistics Office (CSO), the Indian economy is likely to grow at what per cent in the financial year (2018-19)?

(A) 6.7 per cent
(B) 6.9 per cent
(C) 7.2 per cent
(D) 7.4 per cent

Correct Answer: (D) 7.4 per cent

Q. GNP = GDP + X – M where M means

(A) income earned and received by nationals within the boundaries of foreign countries.
(B) income received by foreign nationals from within the country.
(C) volume of commodities and services produced during the accounting year.
(D) indirect taxes and subsidies.

Correct Answer: (B) income received by foreign nationals from within the country.

Q. GDP (at market price) – NIT = ?

(A) NNP (at market price)
(B) GNP (at factor cost)
(C) NDP (at market price)
(D) NNP (at factor cost)

Correct Answer: (B) GNP (at factor cost)

WBCS Mains Indian Economy National Income Questions 2018

Q. GDP at factor cost is

(A) GDP minus indirect taxes plus subsidies
(B) GNP minus depreciation allowances
(C) NNP plus depreciation allowances
(D) GDP minus subsidies plus indirect taxes

Correct Answer: (A) GDP minus indirect taxes plus subsidies

Q. In India GDP is higher than GNP because

(A) import is higher than exports.
(B) capital inflow is higher than capital outflow.
(C) net factor income is negative.
(D) government expenditure is more than income.

Correct Answer: (C) net factor income is negative.

Q. National Income of India is compiled by

(A) Finance Commission
(B) Indian Statistical Institute
(C) National Development Council
(D) Central Statistical Organisation

Correct Answer: (D) Central Statistical Organisation

Q. National income calculated at current price in India has shown a tendency to rise at a faster rate than national income at current prices because (Note: There is a typographical error in the original exam paper where ‘current prices’ is printed at both places instead of ‘constant prices’)

(A) General price level has been rising fast.
(B) India’s population has been rising.
(C) Base year chosen is abnormal.
(D) None of the above

Correct Answer: (A) General price level has been rising fast.

Q. What is the Global rank of India in terms of its purchasing power parity?

(A) 3rd
(B) 5th
(C) 10th
(D) 17th

Correct Answer: (A) 3rd

WBCS Mains Indian Economy National Income Questions 2017

Q. Contribution of agriculture to Gross National Products is approximately

(A) 14%
(B) 15%
(C) 16.5%
(D) 17.5%

Correct Answer: (A) 14%

Q. Consider the following statements:

1. India’s GDP is more than its GNP.
2. Net Factor Income from Abroad (NFIA) is positive for India.

(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 or 2

Correct Answer: (A) 1 only

Q. One of the problems in calculating the national income in India correctly is

(A) under-employment
(B) inflation
(C) non-monetised consumption
(D) low savings

Correct Answer: (C) non-monetised consumption

Q. The most important source of capital formation in India has seen

(A) Household savings
(B) Public sector savings
(C) Government revenue surpluses
(D) Corporate savings

Correct Answer: (A) Household savings

Q. The data of estimation of India’s National Income is issued by

(A) Planning Commison
(B) National Data Centre
(C) Central Statistical Organisation
(D) None of the above

Correct Answer: (C) Central Statistical Organisation

Q. Which is not added in the calculation of national income of India?

(A) The value of goods and services.
(B) The sold value of the old fridge.
(C) Services rendered by the housewives.
(D) Both (B) and (C)

Correct Answer: (D) Both (B) and (C)

Q. How much does the primary sector contribute to India’s GDP?

(A) 26%
(B) 20%
(C) 53%
(D) 14%

Correct Answer: (D) 14%

Q. What base year is used to calculate per capita income in India?

(A) 2004-05
(B) 2011-12
(C) 2001-02
(D) 2014-15

Correct Answer: (B) 2011-12

Q. Which of the following are the main causes of slow rate of growth of per capita income in India?

(A) 1, 2
(B) 2, 3, 4
(C) 1, 4
(D) All of the above

Correct Answer: (D) All of the above

Q. Which state has the highest per capita income in India?

(A) Delhi
(B) Punjab
(C) Bihar
(D) West Bengal

Correct Answer: (A) Delhi

Q. The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of

(A) 15% to 20%
(B) 20% to 25%
(C) 25% to 30%
(D) 30% to 35%

Correct Answer: (C) 25% to 30%

Q. The contribution of agriculture to India’s economy is

(A) constant
(B) increasing
(C) decreasing
(D) None of the above

Correct Answer: (C) decreasing

WBCS Mains Indian Economy National Income Questions 2016

Q. The contribution of agriculture and allied sectors to the Gross Domestic Product of India in 2012-13 was ________.

(A) 15%
(B) 14.1%
(C) 17%
(D) 20%

Correct Answer: (B) 14.1%

Q. Has the inequality of income been reduced very much because of increased national income in India in the last three decades?

(A) Yes
(B) No
(C) May be
(D) May be not

Correct Answer: (B) No

Q. In the composition of the National Income in India the contribution of the ________ is the highest.

(A) Primary sector
(B) Secondary sector
(C) Services sector
(D) Social sector

Correct Answer: (C) Services sector

Q. The most important source of capital formation in India has been

(A) Household saving
(B) Public sector saving
(C) Government revenue surpluses
(D) Corporate saving

Correct Answer: (A) Household saving

Q. The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of

(A) 15 to 20 %
(B) 20 to 25 %
(C) 25 to 30 %
(D) 30 to 35 %

Correct Answer: (C) 25 to 30 %

Q. Economic growth in India will happen necessarily if there is

(A) Population growth
(B) Capital formation
(C) Technical progress in the global economy
(D) All of the above

Correct Answer: (B) Capital formation

WBCS Mains Indian Economy National Income Questions 2015

Q. Which of the following is not true about Indian economy?

(A) The contribution of the primary sector in the GDP is increasing regularly
(B) The share of its tertiary sector increased
(C) The share of the secondary sector never crossed 40%
(D) It is an agrarian economy directly shifting towards service economy

Correct Answer: (A) The contribution of the primary sector in the GDP is increasing regularly

Q. The National Income of India during 2013-14 at current prices is estimated at:

(A) Rs.92.4 lakh crore
(B) Rs.91.5 lakh crore
(C) Rs.98.6 lakh crore
(D) None of the above

Correct Answer: (A) Rs.92.4 lakh crore

Q. Contribution of agricultural sector to Indian gross domestic product is:

(A) More than its percentage share in total employment
(B) Less than its percentage share in total employment
(C) Both shares are fairly equal
(D) None applies

Correct Answer: (B) Less than its percentage share in total employment

Q. Indian employment is generated mostly in this sector:

(A) Registered Sector
(B) Government Sector
(C) Un-registered and Un-organised sector
(D) Both (A) and (B)

Correct Answer: (C) Un-registered and Un-organised sector

Q. Trickle down process in India has become:

(A) Successful highly in generating all round growth
(B) Not at all successful
(C) Partly successful
(D) Uncertain

Correct Answer: (C) Partly successful

WBCS Mains Indian Economy National Income Questions 2014

Q. National Income of India is measured by –

(A) C.S.O.
(B) Planning Commission
(C) Finance Ministry
(D) R. B. I.

Correct Answer: (A) C.S.O.

Q. C.S.O. has predicted the GDP growth of Indian economy in 2014-15 fiscal year will be –

(A) 4.9%
(B) 5.5%
(C) 3.3%
(D) 7%

Correct Answer: (D) 7%

Q. The percentage share of services in GDP at factor cost (at current prices) in 2013-14 in Indian Economy –

(A) 51%
(B) 47%
(C) 57%
(D) 60%

Correct Answer: (C) 57%

Q. The share of agriculture and allied sectors in India’s GDP in 2013-14 –

(A) 14.7%
(B) 12.5%
(C) 13.7%
(D) 21%

Correct Answer: (A) 14.7%