Important Gk Questions part 1980+ MCQ on Indian economy questions and Answers for UPSC / SSC and Gk for all competitive exams in India
1983. What are medium term loans? I. These are provided for a period of less than 15 months to meet out expenses of routine farming and domestic consumptions II. These are provided for a period of 15 months to 5 years to purchase agricultural equipments, animals and for land improvements III. These are provided for a period of more than 5 years.
|Answer : Option C|
1989. Which statement is incorrect regarding India's balance of payment? I. 1994-95 was the year of the acute BOP crisis in India II. India then had foreign exchange reserve of mere 3 billion dollar III. This crisis led to the massive changes in the country's economic policy, popularly known as the Structural Adjustment Program or New Economic Policy (NEP) regime, focusing on liberalization and globalization of the economy.
|Answer : Option A|