Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Total Number of Question: 40Time: 41 MinutesPlease check your email after completion of test for result.All the best... Name Phone No Email State 1. Which of the following is a characteristic of a mixed economy? Private ownership only Public ownership only Both public and private ownership None of the above None 2. What is the primary objective of fiscal policy in India? Control inflation Economic growth Employment generation All of the above None 3. Which of these measures is considered a part of monetary policy? Taxation Open market operations Subsidies Public expenditure None 4. What does GDP measure? Total value of goods and services produced in a year Total exports minus imports Per capita income None of the above None 5. Which of the following is a direct tax? Goods and Services Tax (GST) Excise duty Corporate tax Customs duty None 6. What is the focus of the "Make in India" initiative? Promoting agriculture b) c) d) Boosting manufacturing and innovation Increasing exports of services Enhancing foreign remittances None 7. Which is the largest contributor to India's GDP? Agriculture Industry Services Mining None 8. The New Industrial Policy of 1991 is primarily associated with which of the following? Nationalization of industries Liberalization and privatization Restrictions on FDI Increase in tariff rates None 9. Who regulates the money supply in India? Ministry of Finance Reserve Bank of India State Bank of India Planning Commission None 10. What is the primary aim of MGNREGA? Providing rural housing Promoting self-employment Guaranteeing wage employment in rural areas Increasing urban employment None 11. What does FRBM Act stand for? Fiscal Responsibility and Budget Management Act Financial Reporting and Banking Mechanism Act Financial Reforms and Budgeting Management Act Fiscal Regulation and Business Management Act None 12. What is a primary deficit? Total fiscal deficit minus capital expenditure Total fiscal deficit minus interest payments Revenue deficit minus interest payments Budget deficit minus tax revenue None 13. What does disinvestment in public sector units (PSUs) mean? Increasing government stake in PSUs Reducing government stake in PSUs Complete privatization of PSUs None of the above None 14. Which of the following is NOT a type of budget in India? Revenue budget Capital budget Consolidated budget Zero-based budget None 15. Which institution calculates the Wholesale Price Index (WPI) in India? Ministry of Finance Reserve Bank of India Office of the Economic Adviser NITI Aayog None 16. Which scheme aims to provide universal healthcare in India? Ayushman Bharat PM Fasal Bima Yojana PM Jan Dhan Yojana Atal Pension Yojana None 17. What is the purpose of GST? Double taxation Uniform tax across the country High tax rates None of the above None 18. Which of the following is an indirect tax? Income tax Corporate tax Excise duty Wealth tax None 19. What is the aim of the Pradhan Mantri Jan Dhan Yojana? Promoting agricultural exports Providing financial inclusion Boosting industrial growth Encouraging self-employment None 20. Which policy governs foreign investments in India? Fiscal policy FDI policy Monetary policy Export-import policy None 21. What does SDR stand for in international economics? Special Dollar Reserves Special Drawing Rights Specific Development Rights Sustainable Development Revenue None 22. Which organization publishes the World Development Report? IMF World Bank WTO UNDP None 23. What is a trade deficit? Exports are greater than imports Imports are greater than exports Revenue exceeds expenditure Expenditure exceeds revenue None 24. Which country is India’s largest trading partner (as of 2024) USA China UAE EU None 25. What is the main purpose of the IMF? Financing large infrastructure projects Stabilizing international exchange rates and payments Regulating international trade disputes Controlling inflation None 26. What is the role of SEBI? Regulating banks Regulating capital markets Printing currency notes Setting interest rates None 27. What is CRR in banking? Credit Reserve Ratio Cash Reserve Ratio Current Repayment Ratio Cash Retention Ratio Answer: None 28. Which bank is responsible for providing rural credit in India? SBI NABARD RBI ICICI None 29. What is an NBFC? Nationalized Bank and Finance Corporation Non-Banking Financial Compan National Bank for Farmers and Credit Non-Banking Federal Corporation None 30. What is the purpose of a repo rate? Borrowing rate between banks Rate at which RBI lends to commercial banks Interest rate for savings accounts Tax on financial transactions None 31. Which organization sets the Sustainable Development Goals (SDGs)? IMF World Bank United Nations WTO None 32. Which country recently launched its own digital currency? USA China India Germany None 33. What is India’s target for achieving net-zero carbon emissions? 2030 2040 2050 2070 None 34. What is the GST compensation cess used for? Promoting exports Compensating states for revenue losses c Rural infrastructure developmenties Industrial subsidies None 35. Which global index measures ease of doing business? World Competitiveness Index Human Development Index Ease of Doing Business Index Global Innovation Index None 36. What is the purpose of NITI Aayog? Financial regulation National policy formulation Controlling inflation Distributing resources None 37. Which ministry oversees the Pradhan Mantri Gram Sadak Yojana? Ministry of Urban Development Ministry of Rural Development Ministry of Transport Ministry of Finance None 38. What is a fiscal surplus? Revenue exceeds expenditure Expenditure exceeds revenue Revenue equals expenditure None of the above None 39. What is India’s rank in global GDP (nominal terms) as of 2024? 3rd 5th 7th 10th None 40. Which of the following sectors is regulated by TRAI? Banking Telecom Pharmaceuticals Insurance None 1 out of 4 Great job on taking the INCOC Test! We appreciate your interest in test.Look out for results and future opportunities.Stay Connected !! 1 2 3 4 Time's upYou cannot switch tabs while taking this quiz!You are not allowed to switch tabs violation has been recorded.You cannot minimize full screen mode!You are not allowed to minimize full screen while taking this quiz, violation has been recorded.Access denied! To begin the quiz, please grant this quiz access to your camera.Time is Up!Time is Up!
