TSPSC Daily Practice Test – 30 Questions (Economy Special) Day 15

By Sandeep -

Meta Description: Practice TSPSC Economy MCQs with banking, budget, inflation, GDP, and government schemes.

Source: Based on TSPSC Previous Papers (2016–2023), Indian Economy concepts, and current trends.

📌 Introduction

This is Day 15 – Economy Special. Covers GDP, inflation, banking system, budget concepts, and government schemes important for TSPSC.

🧠 TSPSC Economy Practice Questions (Day 15)

  1. GDP stands for:
    A) Gross Domestic Product
    B) General Domestic Product
    C) Global Development Plan
    D) Gross Development Plan

    Answer: A

  2. Which sector contributes most to India’s GDP?
    A) Agriculture
    B) Industry
    C) Services
    D) Mining

    Answer: C

  3. Which sector employs most people in India?
    A) Agriculture
    B) Industry
    C) Services
    D) IT

    Answer: A

  4. Repo rate is decided by:
    A) Finance Ministry
    B) RBI
    C) SEBI
    D) NITI Aayog

    Answer: B

  5. Reverse repo rate means:
    A) RBI lends to banks
    B) Banks lend to RBI
    C) Govt lends to RBI
    D) RBI lends to govt

    Answer: B

  6. Inflation means:
    A) Price decrease
    B) Price increase
    C) Income increase
    D) Tax increase

    Answer: B

  7. Which index measures inflation?
    A) GDP
    B) WPI
    C) HDI
    D) IIP

    Answer: B

  8. Fiscal deficit means:
    A) Revenue > Expenditure
    B) Expenditure > Revenue
    C) Imports > Exports
    D) Tax > GDP

    Answer: B

  9. Which organization controls monetary policy?
    A) RBI
    B) Finance Ministry
    C) SEBI
    D) IMF

    Answer: A

  10. Which tax is collected by Central Government?
    A) GST (State)
    B) Income Tax
    C) Property Tax
    D) Land Tax

    Answer: B

  11. GST was introduced in which year?
    A) 2015
    B) 2016
    C) 2017
    D) 2018

    Answer: C

  12. Full form of GST:
    A) General Sales Tax
    B) Goods and Services Tax
    C) Government Service Tax
    D) Goods System Tax

    Answer: B

  13. Which is NOT a direct tax?
    A) Income Tax
    B) Corporate Tax
    C) GST
    D) Wealth Tax

    Answer: C

  14. Which organization regulates stock market?
    A) RBI
    B) SEBI
    C) NABARD
    D) LIC

    Answer: B

  15. Which bank is known as Central Bank of India?
    A) SBI
    B) RBI
    C) PNB
    D) HDFC

    Answer: B

  16. Which is the largest public sector bank?
    A) PNB
    B) SBI
    C) Canara Bank
    D) Bank of India

    Answer: B

  17. Which scheme is for farmers?
    A) PM-KISAN
    B) PMAY
    C) Digital India
    D) Skill India

    Answer: A

  18. Rythu Bandhu scheme is related to:
    A) Students
    B) Farmers
    C) Women
    D) Youth

    Answer: B

  19. Which scheme provides health insurance?
    A) PMAY
    B) Ayushman Bharat
    C) MNREGA
    D) Startup India

    Answer: B

  20. Which scheme provides employment in rural areas?
    A) PMAY
    B) MNREGA
    C) GST
    D) Digital India

    Answer: B

  21. Budget is presented by:
    A) President
    B) Prime Minister
    C) Finance Minister
    D) RBI Governor

    Answer: C

  22. Which is NOT part of Budget?
    A) Revenue
    B) Expenditure
    C) Profit
    D) Deficit

    Answer: C

  23. Which organization measures poverty?
    A) RBI
    B) NITI Aayog
    C) SEBI
    D) LIC

    Answer: B

  24. Which sector is called primary sector?
    A) Banking
    B) Agriculture
    C) IT
    D) Transport

    Answer: B

  25. Which sector is called secondary sector?
    A) Agriculture
    B) Industry
    C) Services
    D) IT

    Answer: B

  26. Which sector is called tertiary sector?
    A) Agriculture
    B) Industry
    C) Services
    D) Mining

    Answer: C

  27. Which organization gives loans to farmers?
    A) SEBI
    B) NABARD
    C) RBI
    D) LIC

    Answer: B

  28. Which is NOT a banking service?
    A) Deposit
    B) Loan
    C) Insurance
    D) Withdrawal

    Answer: C

  29. Which is India’s currency?
    A) Dollar
    B) Rupee
    C) Yen
    D) Euro

    Answer: B

  30. Which is the main objective of budget?
    A) Profit
    B) Welfare
    C) Export
    D) Import

    Answer: B

📊 Score Analysis

27–30: Excellent ⭐ (Economy Strong)
22–26: Very Good 👍
17–21: Good ⚠️
Below 17: Revise Concepts ❗

🔗 Internal Linking

👉 TSPSC Daily Practice Test Day 14
👉 TSPSC Daily Practice Test Day 16 (Coming Tomorrow)

🏷️ Tags

TSPSC Economy Questions, Banking MCQs, Budget and GDP Questions, TSPSC Daily Practice

📢 Call to Action

👉 Bookmark careeryoucare.in
👉 Improve Economy for TSPSC

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