NPSC MOCK TEST ON INDIAN ECONOMICS-2026
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Rules and Regulations for Test:
1. There are 100 Questions in this Test.
2. Each Question carries 2 Marks.
3. There is a Negative Marking of (-0.66) for each wrong answer.
4. No marks will be deducted for unanswered Question(s).
5. DO NOT REFRESH THE BROWSER OR NAVIGATE TO OTHER PAGES AS THIS WILL RESULT IN AUTOMATIC SUBMISSION OF YOUR ANSWERS.
6. Time to complete this test is 2 HRS.
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- Answered
- Review
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Question 1 of 100
1. Question
1. Which of the following aggregates officially represents the ‘National Income’ of a country?
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Question 2 of 100
2. Question
2. ‘Capital Account Convertibility’ of the Indian rupee implies that:
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Question 3 of 100
3. Question
3. Identify the incorrect pair of committee and its designated area of economic reform:
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Question 4 of 100
4. Question
4. Consider the following statements regarding the Wholesale Price Index (WPI) in India:
1. The Ministry of Commerce and Industry has officially updated the base year of the Wholesale Price Index (WPI) series to 2022–23.
2. The National Sample Survey Office (NSSO) is the nodal agency responsible for compiling and releasing the monthly WPI data. Which of the statements given above is/are correct? -
Question 5 of 100
5. Question
5. Consider the following statements regarding the calculation of Per Capita Income in India:
1. Per Capita Income of India is derived by dividing the Gross Domestic Product (GDP) at market prices by the total mid-year population of the country.
2. In macroeconomic terms, Per Capita Income is legally equivalent to the Per Capita Net National Income (NNI).
Which of the statements given above is/are correct? -
Question 6 of 100
6. Question
6. Who among the following authored the book “Planned Economy for India” in 1934, presenting the first systematic blueprint for the country’s economic development?
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Question 7 of 100
7. Question
7. Under the Special Area Programmes of the Eighth Five-Year Plan, regional planning efforts and dedicated funding blocks were primarily directed toward which type of regions?
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Question 8 of 100
8. Question
8. Which of the following pairs matching an Indian Five-Year Plan with its foundational economic model or primary approach is incorrect?
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Question 9 of 100
9. Question
9. With reference to the concept of “Demographic Dividend”, consider the following statements:
1. A country is said to enjoy a demographic dividend when a large proportion of its population belongs to the working-age group (15–64 years).
2. A high proportion of population below 15 years of age is the primary reason for demographic dividend. 3. A high proportion of elderly population (above 65 years) contributes positively to demographic dividend.
Which of the statements given above is/are correct? -
Question 10 of 100
10. Question
10. Which organization is responsible for releasing the National Multidimensional Poverty Index (MPI) report in India?
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Question 11 of 100
11. Question
11. Unemployment caused by a mismatch between workers’ skills and the requirements of available jobs is called:
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Question 12 of 100
12. Question
12. Consider the following statements about who owns and runs NABARD: 1. NABARD is 100% owned and controlled by the Government of India. 2. NABARD was set up on the recommendation of the Sivaraman Committee in the year 1892. Which of the statements given above is/are correct?
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Question 13 of 100
13. Question
13. Which of the following conditions must be satisfied for a settlement to be classified as a ‘Census Town’ in India?
1. A minimum population of 5,000
2. At least 75% of the male main working population engaged in non-agricultural activities
3. A population density of at least 400 persons per sq. km.
Which of the following statements is/are correct? -
Question 14 of 100
14. Question
14. Under which Schedule of the Constitution of India does ‘Agriculture’ fall, legally empowering States to enact Agriculture Produce Market Committee (APMC) market laws within their geographical territories?
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Question 15 of 100
15. Question
15. Consider the following statements regarding the Commission for Agricultural Costs and Prices (CACP):
1. The CACP recommends Minimum Support Prices (MSPs) for agricultural crops.
2. The CACP submits its recommendations to the Government of India. Which of the statements given above is/are correct? -
Question 16 of 100
16. Question
16. Which of the following pairs matching a fiber-specific revolution in India with its corresponding agricultural commodity is incorrect?
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Question 17 of 100
17. Question
17. Economic growth of an economy refers to:
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Question 18 of 100
18. Question
18. Consider the following linkages in an open economy:
1. Output market
2. Financial market
3. Labour market which of the above are correct linkages? -
Question 19 of 100
19. Question
19. What economic phenomenon occurs when an increase in government spending or public sector borrowing leads to a reduction in private sector investment?
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Question 20 of 100
20. Question
20. Consider the following statements regarding Open Market Operations (OMO) conducted by the Reserve Bank of India (RBI):
1. Open Market Operations involve the simultaneous purchase and sale of both short-term corporate equities and long-term government bonds to balance stock market volatility.
2. When the RBI buys Government Securities (G-Secs) in the open market, it injects liquidity into the banking system, thereby increasing the loanable funds of commercial banks.
Which of the statements given above is/are correct? -
Question 21 of 100
21. Question
21. Which of the following pairs is incorrect?
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Question 22 of 100
22. Question
22. What is a “Budget Deficit”?
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Question 23 of 100
23. Question
23. Consider the following regarding the Balance of Payments (BoP):
1. BoP records all economic transactions between residents of a country and the rest of the world.
2. It includes only visible trade transactions.
3. BoP is maintained for a specific period, usually a year.
Which of the statements given above is/are correct? -
Question 24 of 100
24. Question
24. What is the term used to describe a situation where prices rise rapidly because the overall demand for goods and services outpaces the economy’s capacity to produce them?
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Question 25 of 100
25. Question
25. The Special Drawing Right (SDR) is often referred to as “Paper Gold.” What is its actual financial nature?
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Question 26 of 100
26. Question
26. In global trade finance, macroeconomic policy, and balance of payments accounting, what does the abbreviation ‘REER’ stand for?
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Question 27 of 100
27. Question
27. Which investor behaviour and market sentiment are most characteristic of a “Bull Market”?
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Question 28 of 100
28. Question
28. Which of the following best defines a “Regressive Tax” in macroeconomic policy?
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Question 29 of 100
29. Question
29. Which of the following statements is NOT true regarding NITI Aayog’s role in assessing and ranking Indian states?
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Question 30 of 100
30. Question
30. Which of the following statements is true regarding the ownership structure of Regional Rural Banks (RRBs) in India?
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Question 31 of 100
31. Question
31. What happens to an ‘Inflation-Indexed Bonds’ (IIBs), if the economy experiences a prolonged period of deflation?
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Question 32 of 100
32. Question
32. Identify the incorrect pair regarding the formation year of banks/financial institutions in India:
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Question 33 of 100
33. Question
33. What is the core premise of the “Trickle-Down Theory” in economy?
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Question 34 of 100
34. Question
34. Dr. V.K.R.V. Rao wrote a seminal book detailing his calculations, data collection gaps, and formulas under British rule. What was the title of this influential piece of literature?
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Question 35 of 100
35. Question
35. In the context of Indian agricultural economics, what is the Central Issue Price (CIP)?
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Question 36 of 100
36. Question
36. Consider the following statements regarding the legal and regulatory framework of Special Economic Zones (SEZs) in India:
1. The Special Economic Zones Act was passed in 2005, but SEZs were functional in India prior to this under the Export-Import (EXIM) Policy.
2. Asia’s very first Export Processing Zone (EPZ), which was later converted into an SEZ, was established in Kandla, Gujarat, in 1965.
3. Any proposal for setting up an SEZ in India must be approved by a multi-ministerial Board of Approval, which is chaired by the Governor of the Reserve Bank of India.
Which of the statements given above is/are correct? -
Question 37 of 100
37. Question
37. “Brent Blend”, a term frequently seen in global economic news, is primarily related to which of the following?
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Question 38 of 100
38. Question
38. With reference to investments, consider the following:
I. Bonds
II. Hedge funds
III. Stocks
IV. Venture capital
How many of the above are treated as Alternative Investment Funds -
Question 39 of 100
39. Question
39. Which economic curve illustrates the inverse relationship between the inflation rate and the unemployment rate in an economy over the short run?
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Question 40 of 100
40. Question
40. Which among the following is not included in Human Development Index?
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Question 41 of 100
41. Question
41. Consider the following statements about the Real Exchange Rate (RER) and Purchasing Power Parity (PPP):
1. RER measures relative purchasing power by adjusting the nominal exchange rate for price levels in both countries.
2. If Relative PPP holds perfectly, the RER remains constant over time.
Which of the statements given above is/are correct? -
Question 42 of 100
42. Question
42. The economic principle stating that “bad money drives out good” is formally known as:
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Question 43 of 100
43. Question
43. The Interest Coverage Ratio (ICR) is primarily used by analysts and lenders to evaluate a company’s:
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Question 44 of 100
44. Question
44. What is the primary underlying psychological principle behind implementing a “Cafeteria Approach” to employee benefits?
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Question 45 of 100
45. Question
45. How many days of an aggregated “no-work period” does the new ‘VB-G RAM G’ Act mandate to ensure the availability of agricultural labour during peak sowing and harvesting seasons?
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Question 46 of 100
46. Question
46. In macroeconomic theory and financial markets, the term “bubble” directly implies which of the following scenarios?
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Question 47 of 100
47. Question
47. If the central bank of a country adopts an “Expansionary Monetary Policy” to boost economic growth, which combination of policy actions is it most likely to take?
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Question 48 of 100
48. Question
48. Which of the following is a direct tax?
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Question 49 of 100
49. Question
49. The New Economic Policy (NEP) introduced in India in 1991, widely known as the LPG reforms, was necessitated primarily by which of the following macroeconomic crises?
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Question 50 of 100
50. Question
50. In industrial geography and economics, which of the following is the most defining characteristic of a “Footloose Industry”?
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Question 51 of 100
51. Question
51. While India has liberalised capital inflows across most of its economy, a few sectors remain entirely closed to foreign equity. Foreign Direct Investment is completely prohibited in which of the following sectors?
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Question 52 of 100
52. Question
52. Where is the Indian first Artificial Intelligence Special Economic Zone (AI SEZ) being established?
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Question 53 of 100
53. Question
53. What is the rank of India in World Happiness Index 2026?
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Question 54 of 100
54. Question
54. During which five year plan was the annual growth rate registered as highest?
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Question 55 of 100
55. Question
55. When Depreciation is deducted from GNP, the net value is
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Question 56 of 100
56. Question
56. What is the ranked of India in Global Hunger Index 2025?
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Question 57 of 100
57. Question
57. Which of the following is a type of voluntary unemployment?
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Question 58 of 100
58. Question
58. What is the primary focus of the orange economy also known as creative economy?
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Question 59 of 100
59. Question
59. If RBI reduces Cash Reserve Ratio, what will happen to the credit creation of banks?
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Question 60 of 100
60. Question
60. What is the Ranked of India as per Global Sustainable Development Report 2025?
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Question 61 of 100
61. Question
61. Which institution provides finance to meet short term Balance of payment crisis?
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Question 62 of 100
62. Question
62. Which of the following is not the quantitative monetary policy tool?
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Question 63 of 100
63. Question
63. Which of the following is not a capital receipt of the Government?
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Question 64 of 100
64. Question
64. Which of the following are the two main GST Slabs now after rationalization ?
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Question 65 of 100
65. Question
65. Since April 2014, RBI used which method to measured Inflation in India?
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Question 66 of 100
66. Question
66. Which of the following are four new labour codes in India which became officially effective in India?
Choose the correct the statements below
i.code on wages 2019
ii.Industrail relations code 2020
iii.Code for non wages 2021
iv.code on social security 2020
v.Occupational Safety,Health and Working Conditions code 2020
vi.Code on gig workers 2022 -
Question 67 of 100
67. Question
67.Which of the following correctly lists the order of Contribution to India’s GDP in descending order ( 2025-26) data trend?
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Question 68 of 100
68. Question
68. If the Reverse Repo Rate is increased while Repo Rate remains constant, it will likely:-
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Question 69 of 100
69. Question
69. Which plan period saw the introduction of the concept ” Growth with Stability and progress towards self reliance “?
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Question 70 of 100
70. Question
70. Which of the following was not an objective of the Industrial policy 1991?
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Question 71 of 100
71. Question
71.Which report is not correctly matched with its publisher?
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Question 72 of 100
72. Question
72.Choose the correct statements as per Economic Survey of India 2025-26 ?
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Question 73 of 100
73. Question
73.What is the Foreign Direct Investment (FDI) limit now in the Insurance Sector in India?
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Question 74 of 100
74. Question
74. Which of the following correctly depict Fiscal Deficit?
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Question 75 of 100
75. Question
75. Choose the correct options below:-
i. During inflation Creditors lose and Debtors gains
ii. Inflation is due to increase in money supply
ii. Skewflation is rise in price of a particular commodity
iv. Hyperinflation is when the rate of inflation is more than 50℅ in a month
v. Core inflation is headline inflation and Headline inflation is core inflation
vi. Fiscal policy is the policy of RBI and Monetary policy is the policy of Government. -
Question 76 of 100
76. Question
76.In the Union Budget 2026-27, the Government announced Biopharma SHAKTI over five years to position India as a Global Biopharma manufacturing hub amount of :-
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Question 77 of 100
77. Question
77.Which of the following is not an initiative of NITI Aayog?
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Question 78 of 100
78. Question
78.. Which of the following can aid in furthering the government’s objective of Inclusive growth?
I. Promoting self help groups
II. Promoting MSME (Micro Small and Medium Enterprises)
III. Implementing the Right to Education Act -
Question 79 of 100
79. Question
79..Which among the following is not a money market instrument?
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Question 80 of 100
80. Question
80..The National Food security Act 2013 is also known as :-
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Question 81 of 100
81. Question
81.Which of the following is incorrect?
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Question 82 of 100
82. Question
82. .What does the term ‘Green shoots’ represent in an Economy?
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Question 83 of 100
83. Question
83.Which of the following Organization publish the Gender inequality index?
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Question 84 of 100
84. Question
84. Why Commercial banks are called creators of money?
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Question 85 of 100
85. Question
85.. Which of the following schemes provides annual income support to farmers directly into their bank accounts?
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Question 86 of 100
86. Question
86. The term “Hindu Rate of Growth” refers to India’s:
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Question 87 of 100
87. Question
87.’Dumping’ in the context of international trade refers to :
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Question 88 of 100
88. Question
88. Stagflation is the combination of –
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Question 89 of 100
89. Question
89. Which of the following is not a dimension of Multidimensional Poverty Index?
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Question 90 of 100
90. Question
90. When is GST implemented in India
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Question 91 of 100
91. Question
91.What is the minimum capital requirement for new finance banks in India, as per RBI guidelines?
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Question 92 of 100
92. Question
92.Who is popularly known as father of Agriculture in India?
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Question 93 of 100
93. Question
93. Which of the following is correctly arranged according to the liquid form?
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Question 94 of 100
94. Question
94. In which of the following system of taxation, the tax rate is fixed irrespective of the taxable income?
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Question 95 of 100
95. Question
95.Who is the 26th Governor of RBI in India
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Question 96 of 100
96. Question
96.Who was the brain child of Economic Reforms (LPG) policy 1991 in India?
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Question 97 of 100
97. Question
97. Which of the following does not fall under 8 cores Industry?
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Question 98 of 100
98. Question
98.The Banking laws ( Amendment) Act, 2025 amended five major Banking laws in India. Choose the
a. a. RBI Act 1934
b. Banking Regulation Act 1949
c. SBI Act 1955
d. Banking companies ( Acquisition and transfer of undertaking) Act 1970
e. Banking companies ( Acquisition and Transfer of undertakings) Act 1980
f. Banking companies ( Acquisition and Transfer of undertakings) Act 1992
g. Banking companies ( Acquisition and Transfer of undertakings) Act 2013 -
Question 99 of 100
99. Question
99.Which of the following is an incorrect statement of Banking laws ( Amendment) Act, 2025?
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Question 100 of 100
100. Question
100.Which of the following is not a focus area of RBI Payments Vision 2028?