68th BPSC Prelims 2023
Indian Economy Previous Year Questions (PYQs)
Explore 7 solved 68th BPSC Prelims 2023 Indian Economy questions with detailed step-by-step bilingual solutions, option analysis, and answer keys.
Which organization carries out the survey for determining the poverty line?
Detailed Explanation:
The National Sample Survey Office (NSSO), now part of the National Statistical Office (NSO), conducts the Household Consumer Expenditure Survey (HCES) which provides data for determining the poverty line.
The NSSO surveys collect detailed data on consumption patterns, income, and expenditure of households across India, which forms the basis for poverty estimation by expert committees and the Planning Commission/NITI Aayog.
Which of the following were goals of the Five-Year Plans?
1. Growth
2. Modernization
3. Self-reliance
4. Literature
Detailed Explanation:
✅ Statement 1 – Correct: Growth (increase in GDP and national income) was a fundamental objective of all Five-Year Plans in India.
✅ Statement 2 – Correct: Modernization (adoption of new technology and industrial advancement) was a key goal emphasized across the Plans.
✅ Statement 3 – Correct: Self-reliance (reducing dependence on foreign aid and imports) became particularly prominent from the Fourth Plan onwards.
❌ Statement 4 – Incorrect: Literature was never a direct goal of the Five-Year Plans, which focused on economic development.
Since statements 1, 2, and 3 are correct, the answer should be "1, 2 and 3 only" - but this option is not provided. Options 1, 2, and 3 each exclude at least one correct statement, while Option 4 ("More than one of the above") is ambiguous. Therefore, Option 5 ("None of the above") is correct as none of the first three options accurately captures all correct statements.
In which budget did the Finance Minister announce the Liberalized Exchange Rate Management System?
Detailed Explanation:
The Liberalized Exchange Rate Management System (LERMS) was announced by Finance Minister Dr. Manmohan Singh in the Union Budget 1992-1993.
This dual exchange rate system was introduced as part of economic liberalization reforms and marked a significant step towards convertibility of the Indian Rupee on the current account.
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Which of the following Five-Year Plans was focussed on Human Resource Development?
Detailed Explanation:
The Eighth Five-Year Plan (1992-1997) was the first to focus on Human Resource Development as a central theme, emphasizing health, education, and employment.
The First Plan (1951-56) focused on agriculture and irrigation, the Third Plan (1961-66) emphasized self-reliance and heavy industries, and the Fifth Plan (1974-79) targeted poverty alleviation and employment (Garibi Hatao).
Since the Eighth Plan is not among the given options (First, Third, Fifth), the correct answer is Option 5: None of the above.
Match List-I with List-II:
| List I | List II | ||
| a. | Grey Revolution | 1. | Onion production |
| b. | Pink Revolution | 2. | Tomato and meat production |
| c. | Silver Revolution | 3. | Production of eggs |
| d. | Red Revolution | 4. | Fertilizers |
Detailed Explanation:
Grey Revolution refers to increased production of fertilizers, crucial for agricultural productivity.
Pink Revolution relates to onion production and is associated with horticulture development in India.
Silver Revolution denotes the growth in egg production and poultry sector development.
Red Revolution signifies the increase in tomato and meat production, focusing on food processing and livestock.
Correct matching: a-4, b-1, c-3, d-2.
What is the policy measure adopted by the Government of India to improve the system of agricultural marketing?
Detailed Explanation:
Public Distribution System (PDS) ensures food security through subsidized distribution of foodgrains to vulnerable sections.
Minimum Support Price (MSP) guarantees remunerative prices to farmers and protects them from price fluctuations during surplus production.
Buffer Stock is maintained by FCI (Food Corporation of India) to ensure availability during shortages and stabilize market prices.
All three measures — PDS, MSP, and Buffer Stock — are integral components of India's agricultural marketing and food security framework, making Option 4 (More than one of the above) correct.
Which of the following are the objectives of the SEZ Act, 2005?
1. Generation of additional economic activity
2. Promotion of exports of goods and services
3. Creation of employment
Detailed Explanation:
✅ Statement 1 – Correct: The SEZ Act, 2005 explicitly aims at generation of additional economic activity in Special Economic Zones through infrastructure development and business incentives.
✅ Statement 2 – Correct: Promotion of exports of goods and services is a primary objective, with SEZs designated as foreign territory for trade operations to boost international trade.
✅ Statement 3 – Correct: Creation of employment opportunities is a key objective, with SEZs expected to generate both direct and indirect employment through industrial activities.
All three statements correctly reflect the objectives under the SEZ Act, 2005.
68th BPSC Prelims 2023 - Indian Economy Chapter-wise Distribution
Indian Economy: Historical Background & Economic Reforms
3 Qs (42.9%)Agriculture
2 Qs (28.6%)Industry
1 Qs (14.3%)Employment, Poverty & Inclusive Growth
1 Qs (14.3%)68th BPSC Prelims 2023 - Indian Economy Questions FAQs
Q1 How many Indian Economy questions were asked in 68th BPSC Prelims 2023?
Q2 What is the chapter-wise question distribution for Indian Economy in 68th BPSC Prelims 2023?
- Indian Economy: Historical Background & Economic Reforms: 3 questions (42.9%)
- Agriculture: 2 questions (28.6%)
- Industry: 1 questions (14.3%)
- Employment, Poverty & Inclusive Growth: 1 questions (14.3%)