Skip to main content
SSC Rank

SSC CGL Economy Questions

6 questions on Economy for SSC CGL. Each comes with the correct answer and a worked explanation.

Questions
6
Moderate
6

Economy questions with solutions

Q1.EconomyModerate

In which year was the Reserve Bank of India established?

  1. (A)1921
  2. (B)1947
  3. (C)1949
  4. (D)1935
Show answer and explanation

Correct answer: (D) 1935

The Reserve Bank of India was established on 1 April 1935 under the RBI Act, 1934, and was nationalised in 1949. Hence, '1935' is the correct answer among the given options.

Open question page

Q2.EconomyModerate

Who is the ex-officio Chairperson of NITI Aayog?

  1. (A)The President of India
  2. (B)The Prime Minister of India
  3. (C)The Finance Minister
  4. (D)The Governor of the RBI
Show answer and explanation

Correct answer: (B) The Prime Minister of India

NITI Aayog, which replaced the Planning Commission in 2015, is chaired by the Prime Minister of India. Hence, 'The Prime Minister of India' is the correct answer among the given options.

Open question page

Q3.EconomyModerate

On which date was the Goods and Services Tax (GST) introduced in India?

  1. (A)1 July 2017
  2. (B)1 April 2017
  3. (C)1 January 2018
  4. (D)1 July 2016
Show answer and explanation

Correct answer: (A) 1 July 2017

GST came into effect on 1 July 2017, replacing several indirect taxes levied by the Centre and the states. Hence, '1 July 2017' is the correct answer among the given options.

Open question page

Q4.EconomyModerate

Which Five Year Plan of India was based on the Mahalanobis model?

  1. (A)Third Five Year Plan
  2. (B)First Five Year Plan
  3. (C)Second Five Year Plan
  4. (D)Fourth Five Year Plan
Show answer and explanation

Correct answer: (C) Second Five Year Plan

The Second Five Year Plan (1956–61) followed the model of P. C. Mahalanobis and emphasised rapid industrialisation and heavy industries. Hence, 'Second Five Year Plan' is the correct answer among the given options.

Open question page

Q5.EconomyModerate

Where is the headquarters of the Reserve Bank of India located?

  1. (A)New Delhi
  2. (B)Chennai
  3. (C)Mumbai
  4. (D)Kolkata
Show answer and explanation

Correct answer: (C) Mumbai

The central office of the RBI was initially set up in Kolkata and was permanently moved to Mumbai in 1937. Hence, 'Mumbai' is the correct answer among the given options.

Open question page

Q6.EconomyModerate

Which of the following is a direct tax?

  1. (A)Income tax
  2. (B)Excise duty
  3. (C)Customs duty
  4. (D)Goods and Services Tax
Show answer and explanation

Correct answer: (A) Income tax

A direct tax is paid directly to the government by the person on whom it is imposed; income tax is the most common example. Hence, 'Income tax' is the correct answer among the given options.

Open question page

Frequently asked questions

How many SSC CGL Economy questions can I practise here?

6 questions — 6 moderate. 6 are shown on this page with answers and explanations, and the practice set draws from all of them.

How should I practise Economy for SSC CGL?

Read through a few solved questions first to see the method, then take a timed practice set. Afterwards, check which questions you got wrong or spent longest on and redo those before moving on.