Economics Quiz Questions and Answers – Chapter 7 – Economic Reforms in India

Economics Quiz Questions and Answers, which are covered in this chapter, relate to the topic, Economic Reforms in India. Economics Quiz Questions and Answers contains 10 questions. Answers to Economics Quiz Questions are available at the end of the last question.

1. FERA stands for :

(a)    Foreign exchange resources act

(b)    Fund exchange resources act

(c)     Foreign exchange regulation act

(d)    Finance and export regulation association

2. Quantitative restrictions on ______ items were removed in the EXIM policy of 2000-01:

(a)    123

(b)    193

(c)     715

(d)    183

3. From 2005 FDI limit in certain services of telecom sector was increased from 49% to ________.

(a)    51%

(b)    64%

(c)     74%

(d)    100%

4. What was the SLR during 1990-1999 when it was at peak?

(a)    25%

(b)    38.5%

(c)     15%

(d)    5%

5. DFEC stands for :

(a)    Direct foreign exchange control

(b)    Direct finance exchange control

(c)     Duty free export credit

(d)    Duty free exchange credit

6. What proportionate of foreign investment is allowed in telecom sector?

(a)    74%

(b)    51%

(c)     49%

(d)    100%

7. In 1991 the foreign exchange resources available were just sufficient to finance import of:

(a)    Two weeks

(b)    Three weeks

(c)     Three months

(d)    Three days

8. CRR in India in 2007 was:

(a)    4%

(b)    7.5%

(c)     6%

(d)    7%

9. Which of the following industries are not reserved for public sector presently?

(a)    Atomic energy

(b)    Railways

(c)     Defense

(d)    Substances specified in the schedule to the notification of the government of India in the department of atomic energy

10. The rate of interest on saving deposit is

(a)    4.5%

(b)    4.0%

(c)     3.5%

(d)    2.5%


1. (c) Foreign exchange regulation act

2. (c) 715

3. (c) 74%

4. (b) 38.5%

5. (c) Duty free export credit

6. (a) 74%

7. (b) Three weeks

8. (b) 7.5%

9. (c) Defense

10 (c) 3.5%

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