BPSC CCE Prelims
Economy & Finance Previous Year Questions (PYQs)
Showing solved Previous Year Questions for Chapter: Economy & Finance
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Which of the following statement/s is/are correct about Capability Poverty Measure (CPM) developed by the UNDP?
- CPM includes child malnutrition as a proxy for lack of health and nourishment.
- Female illiteracy is included to reflect deprivation in education and knowledge.
- It considers male illiteracy as a key indicator of capability poverty.
- It includes lack of access to clean drinking water as an important indicator of capability poverty.
Select the correct answer using the codes given below:
Detailed Explanation:
✅ Statement 1 – Correct: CPM (Capability Poverty Measure) includes child malnutrition (proportion of children under 5 who are underweight) as a proxy for deprivation in health and nourishment.
✅ Statement 2 – Correct: Female illiteracy rate is used to reflect deprivation in education and knowledge, recognizing gender-based capability gaps.
❌ Statement 3 – Incorrect: CPM uses only female illiteracy, not male illiteracy, as the education indicator.
❌ Statement 4 – Incorrect: Access to clean drinking water is not included in CPM; the third indicator is proportion of births unattended by trained health personnel (not water access).
Which of the following is not among the top ten principal commodities of India's export during April-September 2024-25?
Detailed Explanation:
Top Ten Principal Commodities (April-September 2024-25): Petroleum Products, Gems & Jewellery, Drugs & Pharmaceuticals, Engineering Goods, Iron & Steel, Organic & Inorganic Chemicals, RMG of Textiles, Electronic Goods, Marine Products, and Non-Basmati Rice as per DGCI&S data (Ministry of Commerce).
Basmati Rice is a major agricultural export but did not feature in the top ten list for this period. Only Option 3 is excluded; Petroleum Products and Iron & Steel are both in the top ten.
Which of the following countries had greater share than India in the global services export in 2023?
Detailed Explanation:
India was the 7th largest services exporter with approximately 4.6% share in global services exports in 2023.
Ireland had a significantly higher share (~6-7%) driven by its robust software, finance, pharmaceutical, and aircraft leasing services sectors. Russia and Indonesia both had smaller services export shares than India, with less developed global services sectors.
Therefore, only Ireland qualifies as having a greater share than India.
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India's foreign exchange reserves:
Detailed Explanation:
✅ Statement 1 – Correct: India's foreign exchange reserves increased to around USD 640.3 billion by the end of December 2024, as per the Economic Survey 2024-25.
❌ Statement 2 – Incorrect: India's forex reserves are the fourth largest in the world (after China, Japan, and Switzerland), not seventh.
❌ Statement 3 – Incorrect: Reserves actually increased by around USD 68 billion in FY24; there was no BoP deficit of USD 24 billion causing a decrease.
Answer: Only statement 1 is correct.
According to Annual PLFS 2023-24 report:
Detailed Explanation:
✅ Statement 1 – Correct: Rural female LFPR increased from 23.3% (2021-22) to 41.7% (2023-24) — a rise of 18.4 percentage points. Urban female LFPR rose from 23.8% to 28.0% — only 4.2 points. The rural increase is substantially greater.
❌ Statement 2 – Incorrect: The PLFS 2023-24 does not report that 90% of states have WPR below 43.7%; no such state-wise statistic is provided.
❌ Statement 3 – Incorrect: Female agricultural participation remains high in rural areas; no significant decrease from 2017-18 to 2023-24 is documented in the report.
Share of Micro, Small and Medium Enterprises in the country's Gross Value Added (GVA) has increased from_______ 2020-21 to_______ in 2022-23.
Detailed Explanation:
MSMEs (Micro, Small and Medium Enterprises) contribution to India's Gross Value Added (GVA) increased from 27.3% in 2020-21 to 30.1% in 2022-23, as per Ministry of Statistics & Programme Implementation (MoSPI) data.
MSME classification criteria: Micro (Investment ≤ ₹1 crore, Turnover ≤ ₹5 crore), Small (Investment ≤ ₹10 crore, Turnover ≤ ₹50 crore), Medium (Investment ≤ ₹50 crore, Turnover ≤ ₹250 crore).
According to PLFS 2023-24, which of the following statements best describe the nature of employment among women in Bihar?
Detailed Explanation:
PLFS 2023-24 data shows approximately 67% of women workers in India are self-employed, predominantly as unpaid helpers in household enterprises.
In Bihar, formal regular wage employment for women is minimal, with most engaged in agriculture and informal sectors, not secondary sector manufacturing.
In the Union Budget speech for 2024-25, which oilseeds were noted as not being covered under the goal of "Atmanirbharta" (self-reliance) for oil?
Detailed Explanation:
The Union Budget 2024-25 announced the goal of Atmanirbharta (self-reliance) in oilseeds, specifically targeting mustard, groundnut, sesame, soybean, and sunflower for increased domestic production.
Coconut was notably not included in this self-reliance mission for oilseeds, making it the correct answer among the given options.
What were the shares of the Agriculture, Industry, and Services sectors in overall GVA at current prices in Financial Year 2024 according to the Economic Survey 2023-24?
Detailed Explanation:
According to the Economic Survey 2023-24, the sectoral composition of GVA (Gross Value Added) at current prices for Financial Year 2024 is: Agriculture sector – 17.7%, Industry sector – 27.6%, and Services sector – 54.7%.
The Services sector remains the largest contributor to India's economy, accounting for more than half of total GVA, followed by Industry and Agriculture.
By how much did the Female Labour Force Participation Rate increase from 2017-18 to 2022-23, according to the National Sample Survey Office (NSSO)?
Detailed Explanation:
The National Sample Survey Office (NSSO) through its Periodic Labour Force Survey (PLFS) reported that Female Labour Force Participation Rate (LFPR) for ages 15 years and above increased from 23.3% in 2017-18 to 37.0% in 2022-23.
This represents a significant increase of 13.7 percentage points, driven primarily by rural areas where female LFPR rose from 24.6% to 41.5%, while urban areas saw a modest increase from 20.4% to 25.4%.
According to the Reserve Bank of India (RBI), what is the forecast for headline inflation in Financial Year 2025?
Detailed Explanation:
The Reserve Bank of India (RBI) initially projected headline inflation for FY 2025 at 4.5%.
In the December 2024 Monetary Policy Committee (MPC) review, the RBI revised this forecast upward to 4.8% citing persistent food price pressures and global uncertainties.
Since 4.8% was not among the given options, the Bihar Public Service Commission (BPSC) deleted this question from the 13 December 2024 exam; the closest option provided was 4.5%.
What is the full form of CGTMSE?
Detailed Explanation:
CGTMSE stands for Credit Guarantee Fund Trust for Micro and Small Enterprises.
It was established in 2000 by the Ministry of MSME and SIDBI to provide collateral-free credit guarantees to lenders for loans up to ₹2 crore to micro and small enterprises.
What is the position of India in manufacturing of mobile phones in 2023?
Detailed Explanation:
India became the world's second-largest mobile phone manufacturer in 2023, after China.
Manufacturing value grew from ₹18,900 crore (2014-15) to ₹4.1 lakh crore (FY24), driven by the Production Linked Incentive (PLI) scheme.
Which of the following States of India received the highest Foreign Direct Investment (FDI) equity flow during April to September 2022?
Detailed Explanation:
Karnataka received the highest FDI equity inflow during April-September 2022 with approximately ₹37,502 crore (26% share).
Top 5 states by FDI equity inflow were: Karnataka (26%), Maharashtra (23%), Delhi (17%), Gujarat (9%), and Tamil Nadu (7%).
The trade balance of India (merchandise and services) for December 2022 (provisional) is
Detailed Explanation:
According to the Reserve Bank of India (RBI) data, India's merchandise trade deficit for December 2022 was (-) USD 23.76 billion, while the services trade surplus was (+) USD 11.78 billion.
The overall trade balance (merchandise + services) for December 2022 stood at (-) USD 11.98 billion, indicating that imports exceeded exports by this amount.
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