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Economy - MOST IMPORTANT UPSC EPFO Previous Year Questions

Practice real questions from previous year exams of UPSC EPFO.

📘 Industrial Sector📚 Electricity

Q1

Consider the following regarding the Nuclear Power Programme of India : 1. Pressurised heavy water reactors have been set up at Kaiga (Karnataka) and Rawatbhata (Rajasthan). 2. Variable Energy Cyclotron Centre, Kolkata is one of the five Research Centres under the Department of Science and Technology. 3. India has a vast resource of Thorium and the third stage of Indian Nuclear Power Programme envisages the use of Thorium for power generation. Which of these statements is/are correct?

🎯 UPSC EPFO APFC 2002

A.

2 only

B.

1 and 2

C.

1 and 3

D.

1, 2 and 3

📘 Industrial Sector📚 Disinvestment/Mergers and Acquisitions

Q2

Recently, Government disinvested stake in VSNL, IBP and IPCL to

🎯 UPSC EPFO APFC 2002

A.

Bharti Telesonic, Reliance and GAIL, respectively

B.

Tata Group of Industries, Indian Oil Corporation and Reliance, respectively

C.

Bharti Telesonic, Royal Dutch Shell and Pfizer, respectively

D.

Motorola, Kuwait Petroleum and Ranbaxy, respectively

📘 Service Sector📚 Tourism and Hospitality

Q3

Which tourist destination from amongst the following will be developed as an international destination for tourism according to the Budget 2002-03?

🎯 UPSC EPFO APFC 2002

A.

Port Blair

B.

Hampi

C.

Pushkar

D.

Nalanda

📘 Microeconomics- I📚 Elasticity

Q4

Consider the following statements: 1. The demand for commodities having a greater number of close substitutes is less elastic than the commodities having a smaller number of substitutes 2. Luxury items have a highly elastic demand 3. The commodities whose consumption cannot easily be postponed have less elastic demand Which of these statements is/are correct?

🎯 UPSC EPFO APFC 2002

A.

1 only

B.

2 and 3

C.

1 and 2

D.

1, 2 and 3

📘 Five Year Plans in India📚 Fourth Five Year Plan

Q5

Consider the following statements: 1. Launching of Fourth five-year plan was postponed and three annual plans had to be resorted to between 1966 to 1969. 2. Fifth five-year plan was terminated a year earlier. 3. Eighth five-year plan commenced in 1992 instead of 1990. Which of these statements is/are correct?

🎯 UPSC EPFO APFC 2002

A.

2 and 3

B.

1 and 2

C.

1 and 3

D.

1, 2 and 3

📘 Fundamental Economic Concepts📚 Meaning of Economics

Q6

Assertion (A): Macro-economic deals with the study of aggregates and averages. Reason (R): Central problem of macro-economics is the determination of income and employment

🎯 UPSC EPFO APFC 2002

A.

Both A and R are true and R is the correct explanation of A

B.

Both A and R are true but R is NOT the correct explanation of A

C.

A is true but R is false

D.

A is false but R

📘 Tax Structure in India📚 Tax Reform Committees

Q7

Match List-I (Commission/Committee) with List-II (Chairman) and select the correct answer using the code given below the lists: List-I (Commission/Committee) A. Economic Reforms Commission B. Commission on Centre-State Relations C. Administrative Reforms Commission D. Committee on the Prevention of Corruption List-II (Chairman) 1. R.S. Sarkaria 2. K. Hanumanthaiya 3. L.K. Jha 4. K. Santhanam 5. D.S. Kothari Code: A B C D

🎯 UPSC EPFO APFC 2004

A.

3 4 2 1

B.

2 1 5 4

C.

3 1 2 4

D.

2 4 5 1

📘 Insurance in India📚 Misc

Q8

Assertion (A): Recently, the four public sector general insurance companies have launched a community-based ‘Universal Health Insurance Scheme'. Reason (R): According to the Constitution of India, the task of promoting public health primarily rests with the Union Government. Codes:

🎯 UPSC EPFO APFC 2004

A.

Both A and R are true and R is the correct explanation of A

B.

Both A and R are true but R is NOT the correct explanation of A

C.

A is true but R is false

D.

A is false but R is true

📘 Agriculture Sector📚 Agricultural Production

Q9

Match List-I (Produce) with List-II (Major Producer State) and select the correct answer using the code given below the lists: List-I (Produce) A. Rubber B. Soyabean C. Groundnut D. Wheat List-II (Major Producer State) 1. Andhra Pradesh 2. Tamil Nadu 3. Madhya Pradesh 4. Kerala 5. Uttar Pradesh Code: A B C D

🎯 UPSC EPFO APFC 2004

A.

4 1 2 5

B.

5 3 1 4

C.

4 3 1 5

D.

5 1 2 4

📘 Agriculture Sector📚 Features of Indian Agriculture

Q10

Consider the following statements: 1. In India, intensity of cropping is high in the States of the peninsular plateau. 2. In India, the States of Punjab and Haryana have the highest proportion of the net sown area to total geographical area. 3. South-west Monsoon season is termed as the Kharif season of crops. Which of the statements given above are correct?

🎯 UPSC EPFO APFC 2004

A.

2 and 3

B.

1 and 2

C.

1 and 3

D.

1, 2 and 3

📘 Public Finance in India- Budget📚 Development and Non-development Expenditure

Q11

What was the total expenditure on education both by the Central and State Governments during the year 2002-03 as an approximate percentage of the Gross Domestic Product?

🎯 UPSC EPFO APFC 2004

A.

2%

B.

3%

C.

4%

D.

5%

📘 Literacy📚 India

Q12

Consider the following statements with reference to the Census 2001 of India: 1. For the first time, the country has witnessed a faster growth in female literacy compared to that of males during the decade 1991-2001. 2. During the decade 1991-2001, the rural-urban literacy gap continued to diverge. Which of the statement given above is/are correct?

🎯 UPSC EPFO APFC 2004

A.

1 only

B.

2 only

C.

Both 1 and 2

D.

Neither 1 nor 2

📘 Population Density📚 India

Q13

Consider the following statements: 1. The average population density of India is between 600-700 persons per square kilometer. 2. 2002-2007 is the duration of the Tenth Five-Year Plan. 3. Installed electricity generation capacity in India is in excess of 2 lakh Megawatt. Which of the statements given above is/are correct?

🎯 UPSC EPFO APFC 2004

A.

1 and 2

B.

2 only

C.

1 and 3

D.

1, 2 and 3

📘 External Sector in India📚 External debt

Q14

Assertion (A): In its Global Development Finance Report 2004, the World Bank has categorised India as a less indebted country for the year 2002. Reason (R): During the last decade, India's outstanding external debt has considerable reduced.

🎯 UPSC EPFO APFC 2004

A.

Both A and R are individually true and R is the correct explanation of A.

B.

Both A and R are individually true and R is not the correct explanation of A.

C.

A is true but R is false.

D.

A is false but R is true

📘 Planning📚 History of Planning in India

Q15

Consider the following statements. India had plan holiday during 1966-69 due to 1. Indo-Pakistan conflict in 1965. 2. Severe drought for two successive years. Which of the statements given above is/are correct?

🎯 UPSC EPFO APFC 2004

A.

1 only

B.

2 only

C.

Both 1 and 2

D.

Neither 1 nor 2

📘 Insurance in India📚 Misc

Q16

Consider the following statements: 1. The members of the Employees' Provident Fund and exempted Provident Funds are eligible for the Employees' Deposit-Linked Insurance Scheme. 2. Employees' Pension Scheme, 1995 was introduced for the industrial workers. 3. Coverage under the Employees' Provident Fund and Miscellaneous Provisions Act is restricted to establishments employing 20 or more persons. Which of the statements given above is/are correct?

🎯 UPSC EPFO APFC 2004

A.

1 and 2

B.

1, 2 and 3

C.

1 and 3

D.

3 only

📘 Insurance in India📚 Misc

Q17

Bancassurance is :

🎯 UPSC EPFO APFC 2012

A.

An insurance scheme to insure bank deposits

B.

An insurance scheme exclusively for bank employees

C.

A composite financial service offering both bank and insurance products

D.

A bank deposit scheme exclusively for employees of insurance companies

📘 Public Finance in India- Budget📚 Finance Commission and its Recommendations

Q18

Match List-l with List-II and select the correct answer using the code given below the lists: List-I (Commission) A. Second Administrative Reforms Commission B. Second Commission on Centre State relations C. Thirteenth Finance Commission D. National Commission for the Review of the working of the Constitution List-II (Chairperson) 1. Vijay Kelkar 2. Justice M.N. Venkatachaliah 3. Justice Madan Mohan Punchi 4. M. Veerappa Moily

🎯 UPSC EPFO APFC 2012

A.

A-4, B-3, C-1, D-2

B.

A-2, B-3, C-1, D-4

C.

A-4, B-1, C-3, D-2

D.

A-2, B-1, C-3, D-4

📘 Important Indexes and Reports📚 Human Development Index

Q19

Consider the following statements regarding human development: 1. Skills may be harnessed in the society through participations of NGOs. 2. To fill the internal gaps in the system, reviews and international experiences can prove to be helpful. Which of these statements is/are correct?

🎯 UPSC EPFO APFC 2012

A.

1 only

B.

2 only

C.

Neither 1 nor 2

D.

Both 1 and 2

📘 Industrial Sector📚 Steel and Iron Industries

Q20

Despite having huge coal reserve in our country, why do we import millions of tons of coal? 1. It is policy of Govt. of India to save its own coal reserve for future use and import now from other countries for present use. 2. Most of the thermal plants in our country are coal based and they are unable to get sufficient coal supply from our coal mines. 3. Steel plants require large quantities of coking coal which we do not have, coking coal is to be imported from other countries. Select the correct answer using the codes given below:

🎯 UPSC EPFO APFC 2012

A.

1, 2 and 3

B.

2 and 3 only

C.

1 and 2 only

D.

1 and 3 only

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