Indian Economy Mixed Practice — MCQs with Answers (Set 22)

The National Housing Bank is the answer. In 2019 the RBI sold its stake in NHB and the Government became the owner. EXIM Bank’s own ownership did not move, since the Government already held all its capital. SIDBI and NABARD did not change owners in this way. Memory hook: in 2019, EXIM gained capital and NHB changed owner.

EXIM Bank’s head office is in Mumbai. The Act of 1981 placed it at Bombay, the old name of Mumbai, unless the Government notifies another place. New Delhi, Chennai and Kolkata are not its head office. Memory hook: the Bank sits in Mumbai’s Cuffe Parade, near the trading world.

EXIM Bank began operations in 1982. Parliament passed its Act in September 1981, so the Bank started the next year. 1980 is the year of the Budget speech that announced the plan. 1985 and 1988 are not linked to the founding. Memory hook: speech 1980, Act 1981, Bank 1982.

The Export-Import Bank of India Act, 1981 set up EXIM Bank. Parliament passed it in September 1981, and the Bank began work in March 1982. The Banking Regulation Act, 1949 governs banks in general. The RBI Act, 1934 governs the RBI. The SIDBI Act, 1989 governs SIDBI. Memory hook: the Act is 1981, the Bank is 1982.

The original Swadesh Darshan scheme has sanctioned 76 projects worth Rs 5,295.24 crore across 14 thematic circuits, of which 75 are already complete — a separate tally from Swadesh Darshan 2.0.

Tourism contributed Rs 15.73 lakh crore to India’s GDP in FY 2023-24 — 5.22% of the economy — and supported 84.6 million jobs.

NHB continues as an apex refinancing institution for housing finance. It lent long-term funds to banks and housing finance companies before 2019, and it still does. NHB did not stop operating, and it is not a pure regulator. It did not merge into SIDBI, which serves small industries. Memory hook: NHB lost one power, not its job.

The RBI took over regulation of housing finance companies from 9 August 2019. The Government of India took over NHB’s ownership, as the RBI sold its stake on 19 March 2019. SEBI, LIC, IRDAI and the Ministry of Finance did not take over regulation. The RBI did not keep NHB’s ownership. Memory hook: regulation to the RBI, ownership to the Government.

The Reserve Bank of India paid in NHB’s entire capital at the start. In 2019 the RBI sold its 100% stake, and the Government of India became the owner. The government, LIC and the World Bank did not fund NHB at the start. Memory hook: the RBI built NHB first, then handed it to the Government.

Dr. C. Rangarajan, then Deputy Governor of the RBI, chaired the High Level Group. The Committee of Secretaries set it up to study a national housing institution. Dr. Y.V. Reddy, Dr. Bimal Jalan and Dr. Manmohan Singh did not chair it. Memory hook: Rangarajan, then RBI Deputy Governor, drew up the plan for NHB.

The National Housing Bank Act, 1987 set up NHB. The President gave assent on 23 December 1987, and NHB began on 9 July 1988. The Housing Finance Companies Act, 1988 is not NHB’s founding law. The RBI Act, 1934 and the Banking Regulation Act, 1949 govern the RBI and banks. Memory hook: the Act is 1987, the institution is 1988.

The answer is 30,000 appeals, with a daily peak of 5,500. These figures come from the Government’s note on moving the deadline from 30 June to 31 July 2026. The other options inflate the numbers. Memory hook: 30,000 in 15 days.

The answer is September 2025 for the portal and February 2026 for hearings. The portal and the Tribunal were launched on 24 September 2025. The Principal Bench began hearings on 16 February 2026. The other options mix up the order. Memory hook: portal first, hearings later.

The answer is Justice (Retd.) Sanjaya Kumar Mishra, former Chief Justice of the Jharkhand High Court. He took oath as first President on 6 May 2024. The other judges named never led GSTAT. Memory hook: Mishra from Jharkhand.

The answer is 8 years. GSTAT was in law from 2017. It was launched on 24 September 2025. Hearings began on 16 February 2026. So the Tribunal sat idle for about eight years. Memory hook: law 2017, launch 2025.

The answer is Section 109. Section 109 of the CGST Act, 2017 sets up the Appellate Tribunal. The Finance Act, 2023 substituted its text. Section 112 is the appeal section, not the Tribunal’s. Sections 122 and 132 are about penalties and offences. Memory hook: 109 builds the Tribunal.

MOIL, India’s largest manganese-ore producer, posted a 70% rise in profit after tax to Rs 87.62 crore in Q1 FY27, with revenue up 7%.

SAIL’s Q1 FY27 net profit rose 138% year-on-year, to Rs 1,636 crore, even as crude steel output dipped slightly due to advanced planned maintenance.

Tamil Nadu has 1,631 JAKs in total, including 74 within the Kallakurichi Lok Sabha constituency — 62 in Salem district, and 12 in Kallakurichi district.

Surplus FCI rice goes to ethanol only after buffer stock and welfare needs are met. As reported on 31 July 2026, the share of ethanol made from FCI rice jumped. It rose to 24.64% in ESY 2025-26 from negligible 0.02% in 2023-24. The data are Petroleum Ministry data, via Deccan Herald. The official reply of 17 December 2025 gives the surplus-only rule.

Telecommunications, computer and information services led with a 49.03% share ($206.6 billion), followed by business services at 29.5%.

The answer is that Congress won the 2023 election and ended K. Chandrashekar Rao’s BRS government. Revanth Reddy took oath on 7 December 2023. He was Telangana’s second chief minister. There was no coalition and no President’s Rule. BRS did not stay in power. Hook: 2023 vote, Congress in, BRS out.

The answer is that it paid any landowner, farming or not. Rythu Bandhu was meant for landowning farmers only, so tenants who worked the land were left out. Critics said tenants worked about 13% of the state’s farmland. Rythu Bharosa kept payment tied to owned land but excluded non-cultivable land. Nothing says Rythu Bandhu forced reapplication, skipped cash crops or covered only irrigated land. Hook: owners paid, tenants left out.

The answer is landless agricultural families. Indiramma Atmiya Bharosa pays them ₹12,000 a year. Rythu Bandhu paid landowners only, so this group was left out. Institutional holders and absentee owners hold land, so they are not landless. Retailers are not farm families. Hook: no land, flat payment.