BPSC Economy — Previous Year Questions

Bihar Public Service Commission has asked 59 questions on Economy across 3 papers (2023–2025). Every one is solved below — open a question for the answer, why it is right, and why each wrong option was written to tempt you.

1. 70th CCE Re-exam (2025)Q6Which Sector in India has benefitted the most from Globalization ?Answer: D
2. 71st CCE (2025)Q26According to the UNDP Human Development Index (HDI) Report 2025, life expectancy in India increased from 58.6 years in 1990 to how many years in 2023?Answer: A
3. 70th CCE Re-exam (2025)Q27Grey revolution is related toAnswer: C
4. 71st CCE (2025)Q36Which of the following statement/s is/are correct about Capability Poverty Measure (CPM) developed by the UNDP? 1) CPM includes child malnutrition as a proxy for lack of health and nourishment. 2) Female illiteracy is included to reflect deprivation in education and knowledge. 3) It considers male illiteracy as a key indicator of capability poverty. 4) 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 :Answer: A
5. 71st CCE (2025)Q37Which of the following is not among the top ten principal commodities of India’s export during April-September 2024-25?Answer: C
6. 71st CCE (2025)Q39Which of the following countries had greater share than India in the global services export in 2023?Answer: B
7. 71st CCE (2025)Q41Which organization jointly developed the National Urban Innovation Stack (NUIS) Digital Blueprint with the Ministry of Housing and Urban Affairs (MoHUA)?Answer: B
8. 71st CCE (2025)Q42Which state had the highest constructed road length under Bharatmala Pariyojana as of 31st October 2024?Answer: A
9. 71st CCE (2025)Q43Before the launch of Kisan Rin Portal (KRP), farmers used to submit manual claims under the Interest Subvention and Prompt Repayment Incentive schemes to which of the following institution/s?Answer: B
10. 71st CCE (2025)Q44India's foreign exchange reserves :Answer: A
11. 71st CCE (2025)Q45As per NFHS-5 data, which of the following state(s) recorded less than 6% of the population as multidimensionally poor in 2019-20?Answer: B
12. 71st CCE (2025)Q47According to Annual PLFS 2023-24 report :Answer: A
13. 71st CCE (2025)Q49Share of Micro, Small and Medium Enterprises in the country's Gross Value Added (GVA) has increased from ______ in 2020-21 to ______ in 2022-23.Answer: B
14. 71st CCE (2025)Q50Which of the following statement/s is/are correct regarding the Indian cement industry? 1) Around 87% of India's cement industry is concentrated in a few major states like Rajasthan, Andhra Pradesh and Madhya Pradesh. 2) India is the largest producer of cement in the world. 3) Most cement plants in India are located far from raw material sources and near to the ports to support exports. Select the correct answer using the codes given below :Answer: A
15. 71st CCE (2025)Q51What is the primary objective of Bihar's Mission Daksh?Answer: C
16. 71st CCE (2025)Q52Which of the following is NOT one of the components under the YUVA framework of the Bihar Startup Policy 2022?Answer: C
17. 71st CCE (2025)Q53Which of the following statement/s is/are correct about Bihar's economic performance in 2023-24?Answer: D
18. 71st CCE (2025)Q54Consider the following statements : 1) The proportion of the young population (0-19 years) in Bihar is projected to decline significantly by 2041. 2) Bihar's demographic dividend is expected to peak around 2041. 3) The elderly population (60 + years) in Bihar is expected to rise more sharply than in India. Select the correct answer using the codes given below :Answer: A
19. 70th CCE Re-exam (2025)Q54Which company became the first Indian company to cross the 200 billion USD market capitalization in 2023 ?Answer: B
20. 71st CCE (2025)Q55According to PLFS 2023-24, which of the following statements best describe the nature of employment among women in Bihar?Answer: B
21. 70th CCE Re-exam (2025)Q56Legally stipulated maximum size beyond which no individual farmer can hold any land isAnswer: C
22. 70th CCE Re-exam (2025)Q59Who is the Chairperson of GST Council ?Answer: B
23. 71st CCE (2025)Q67The Atmanirbhar Bharat Scheme announced by the Government helps in: 1) Enhancing India's manufacturing capabilities and exports across the industries 2) Incentivizing foreign investments for domestic production Out of these :Answer: C
24. 70th CCE Re-exam (2025)Q76The 60.2 percent share in GSDP of Bihar in 2019 – 20 was ofAnswer: D
25. 70th CCE Re-exam (2025)Q82What is Infant Mortality rate ?Answer: B
26. 70th CCE Re-exam (2025)Q89The ratio of total deposits that a Commercial Banks must keep with Reserve Bank of India is calledAnswer: A
27. 70th CCE Re-exam (2025)Q125Which of the following is a function of Central Bank ?Answer: D
28. 70th CCE Re-exam (2025)Q131The expanded form of UPI isAnswer: A
29. 70th CCE Re-exam (2025)Q140Which among the following is a tool of Fiscal Policy ?Answer: D
30. 71st CCE (2025)Q145Which of the following is a Kharif crop?Answer: A
31. 70th CCE Re-exam (2025)Q146NNP at factor cost is equal toAnswer: B
32. 70th CCE (2024)Q9In the Union Budget speech for 2024-25, which oilseeds were noted as not being covered under the goal of ‘Atmanirbharta’ (self-reliance) for oil ?Answer: A
33. 70th CCE (2024)Q27What is the position of India in manufacturing of mobile phones in 2023 ?Answer: A
34. 70th CCE (2024)Q30According to the Index of Industrial Production (IIP) data from the Ministry of Statistics and Programme Implementation, which indices experienced significant growth in Financial Year 2023 ?Answer: C
35. 70th CCE (2024)Q45According to a CRISIL Rating report, how much is the corporate bond market expected to grow by Financial Year 2030 in India ?Answer: B
36. 70th CCE (2024)Q61What 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 ?Answer: B
37. 70th CCE (2024)Q68Which of the following centres in Bihar is proposed to develop under Vishnupad Yojana for promotion of tourism in Union Budget 2024 ?Answer: C
38. 70th CCE (2024)Q80By how much did the Female Labour Force Participation Rate increase from 2017-18 to 2022-23, according to the National Sample Survey Office (NSSO) ?Answer: A
39. 70th CCE (2024)Q103In which of the following years the Bihar state Hydroelectric power corporation was established ?Answer: A
40. 70th CCE (2024)Q115Who presented the Bihar Budget 2024-25 in the State Assembly ?Answer: C
41. 70th CCE (2024)Q117According to the Reserve Bank of India (RBI), what is the forecast for headline inflation in Financial Year 2025 ?Answer: C
42. 70th CCE (2024)Q124What is the full form of CGTMSE ?Answer: C
43. 70th CCE (2024)Q127What was the Per Capita Net State Domestic Product at Current Prices for Bihar for the fiscal year 2022-23, based on the base year 2011-12 ?Answer: B
44. 70th CCE (2024)Q138Which sector received the highest allocation in the Bihar Budget 2024-25 ?Answer: C
45. 70th CCE (2024)Q141According to the Reserve Bank of India, what is one of the eligibility criteria for a Small Finance Bank (SFB) to transition into a Universal Bank ?Answer: C
46. 70th CCE (2024)Q148Which one is not included in the Budget Priorities in pursuit of ‘Vikasit Bharat’ in Union Budget 2024-25 ?Answer: D
47. 69th CCE (2023)Q51India signed the Economic Cooperation and Trade Agreement (ECTA) with which country?Answer: B
48. 69th CCE (2023)Q59Which among the following currencies is the costliest?Answer: B
49. 69th CCE (2023)Q111The Foreign Exchange Reserves (FER) of RBI include which of the following? 1. Foreign Currency Assets (FCA) 2. Gold 3. Special Drawing Rights (SDR) 4. Reserve Tranche Position Select the correct answer using the codes given below.Answer: D
50. 69th CCE (2023)Q112Consider the following statements about ‘Rules of Origin’ : 1. Rules of Origin are the criteria needed to determine the national source of a product. 2. Rules of Origin help the custom agencies to know what regulations and fees apply to a given product. 3. These are used for the purpose of trade statistics. 4. Their importance is derived from the fact that duties and restrictions in several cases depend upon the sources of imports. Which of the above statements are correct?Answer: D
51. 69th CCE (2023)Q113Consider the following statements about infant mortality rate : 1. It is the probability of dying between birth and exactly 1 year of age, expressed per 10000 live births. 2. The infant mortality rate in the year 1950 was 189·6. 3. In the year 2019, the infant mortality rate was 30. 4. As per the Sample Registration System (SRS) Bulletin of Registrar General of India (RGI), the State with the highest infant mortality rate in the year 2019 was Uttar Pradesh. Which of the above statements are correct?Answer: C
52. 69th CCE (2023)Q114Human capital formation as a concept is better explained in terms of a process, which enables 1. individuals of a country to accumulate more capital 2. increasing the knowledge 3. increasing the skill levels 4. increasing the knowledge, skill levels and capacities of the people of the country Select the correct answer using the codes given below.Answer: D
53. 69th CCE (2023)Q115Consider the following statements regarding insolvency and bankruptcy : 1. Bankruptcy refers to a financial state in which an individual or entity is unable to pay off their debts as they become due. 2. Insolvency refers to a legal process, where the assets of the debtor are liquidated or reorganized for the benefit of creditors. 3. Bankruptcy is a state whereas insolvency is the conclusion. 4. The Insolvency and Bankruptcy Board of India (IBBI) is the regulatory body responsible for overseeing insolvency and bankruptcy proceedings. Which of the above statements is/are correct?Answer: C
54. 69th CCE (2023)Q116In which year was the Industrial Policy Resolution adopted?Answer: A
55. 69th CCE (2023)Q120Which of the following factors could potentially contribute to stagflation in the Indian economy? 1. High inflationary pressures due to increased Government spending 2. Decline in industrial production and sluggish economic growth 3. Decrease in aggregate demand and consumer spending 4. Appreciation of the domestic currency leading to reduction of export competitiveness Select the correct answer using the codes given below.Answer: A
56. 69th CCE (2023)Q121As per the Economic Survey, 2023, which of the following statements describe(s) the trend of Foreign Direct Investment in India? 1. It has decreased due to the less participation of the private sector. 2. It has increased compared to the prepandemic levels. 3. It has increased rapidly without decreasing in any Financial Year after the telecom sector was entirely reformed. 4. It has decreased due to a weak global economic situation. Select the correct answer using the codes given below.Answer: B
57. 69th CCE (2023)Q123Which of the following statements about non-plan expenditures of the Central Government is correct?Answer: A
58. 69th CCE (2023)Q124Which of the following is not true about globalization and its impact on India?Answer: C
59. 69th CCE (2023)Q125Consider the following statements about the latest developments in the Union Government finances : 1. The fiscal deficit of the Union Government had reached 9·2 percent of GDP during the pandemic FY21. 2. The fiscal deficit has moderated to 7·7 percent of GDP in FY22. 3. The revenue collection over the last two years has gone down. Which of the above statements is/are correct?Answer: A