SSC CGL (Prelims) GK: Economy questions with solutions

Q1. As of the year 2020–21, which of the following states had the lowest unemployment rate among persons aged 15 years and above?

1. Sikkim
2. Madhya Pradesh
3. Gujarat
4. Chhattisgarh

Answer: Chhattisgarh

The question refers to unemployment data for persons aged 15 years and above in 2020–21. Among the given states, Chhattisgarh had the lowest unemployment rate. This is based on official labour force survey data.

Q2. Which of the following Acts was amended to provide a statutory basis for the implementation of the flexible inflation targeting (FIT) framework?

1. Reserve Bank of India (RBI) Act, 1934
2. The Industrial Finance Corporation of India Act, 1948
3. Deposit Insurance and Credit Guarantee Corporation Act, 1961
4. Banking Regulation Act, 1949

Answer: Reserve Bank of India (RBI) Act, 1934

The flexible inflation targeting framework in India was given statutory backing through an amendment to the RBI Act, 1934. This amendment established the legal basis for the Monetary Policy Committee and inflation target setting.