UPSC Economic Questions and Answers

UPSC Economic Questions and Answers

The civil services exam is one of the toughest examinations conducted in the country, and economy questions constitute a major of the two written phases of the examination. At BYJU’S we bring to you a compiled list of Economy questions along with answers that are suitable from the prelims and mains perspective.

These answers have been provided by UPSC experts for the candidate’s assistance, without any indirect or ambiguous information. Questions based on sustainable development, GDP, economic growth, taxation, etc. are included in the economy syllabus and the list of questions provided below will focus on the same.

The compiled list of questions given below comes with straightforward and crisp answers, with the IAS mains General Studies-III paper syllabus as the focal point. Aspirants can refer to these questions and answers and familiarize themselves with the depth of important economic topics as per the UPSC Syllabus.

As per provisions given in Article 280 of the Constitution of India, the President of India can constitute the Finance Commission and give its...
As per Basel Accords, the minimum tier 1 capital ratio should be 6% and as per the same Basel Accords, the banks must have a minimum capital...
Yes, the FRBM Act did help in improving the fiscal performance of states and centre. In 2021-22, the government has not provided a target for the...
Tier 2 capital consists of an investment reserve account, subordinated debt, hybrid capital instruments, loss reserves, revaluation reserves,...
The R in FRBM stands for Responsibility. The full form of FRBM is Fiscal Responsibility and Budget Management (FRBM). You can read about the...
In India, currently Bandhan Bank has the highest capital adequacy ratio. Other Indian banks which are having very high capital adequacy ratio are...
The capital adequacy ratio of HDFC Bank was 18.8% as of March 31, 2021. As of March 31, 2021. The Tier-1 capital adequacy ratio was at 17.6%. As...
Cashless economy brings in a lot of convenience for carrying out financial transactions. There is freedom to carry out transactions from anywhere...
India is moving towards a cashless economy which is in sync with the vision of the Government. There have been billions of transactions on...
The purpose of a cashless economy is to control the movement of illegal money from circulation in the economy, better tracking of transactions...
One of the disadvantages of going cashless is the possibility of digital fraud. There is a possibility of important private data getting...
One of the disadvantages of cashless payment is the breach of data by hackers and loss of money due to fraudulent transactions. However, there...
Cashless society helps in carrying out financial transactions from any place and at any time. It also helps in reducing the black money...
India is trying to move towards a cashless economy. It received a big thrust through the Digital India initiative of India. Apart from India...
Cashless economy is important as it can help in controlling the black money that is circulating in the economy.You can read about the Cashless...
Nand Kishore Singh is the chairman of the 15th Finance Commissioner of India. The 15th Finance Commission of India was constituted in November...
Nand Kishore Singh is the full name of NK Singh. He is the chairman of the 15th Finance Commissioner of India. The 15th Finance Commission of...
The three pillars of Basel III are market discipline, Supervisory review Process, minimum capital requirement. Basel III framework deals with...
RWA is a Risk-Weighted Asset. It is calculated by multiplying the exposure amount by the relevant risk weight for the type of asset or loan. The...
Human Capital formation in India is the outcome of investments done by India in the domains of education, information, on-the-job training,...