Indian Economy MCQs

Indian Economy Multiple Choice Questions (MCQs) for SSC, State and all One Day Examinations of India. Objective Questions on Indian Economy for competitive examinations.

11. When does a monopoly by a specific business entity occur in the market?
[A] When there are numerous buyers and sellers
[B] When homogeneous products flood the market
[C] When a distinctive product is exclusively sold by a single seller
[D] When firms are merely price takers

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12. Who is called the father of direct taxation reforms in India?
[A] Dr. C.Rangarajan
[B] Dr. Shankar Acharya
[C] Dr. Raja Chelliah
[D] Dr. V.K.R.V.Rao

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13. Which economist is credited for developing theories based on Gandhism?
[A] Jagadish Bhagwati
[B] P.C.Mehalonibis
[C] J.C.Kumarappa
[D] Kaushik Basu

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14. In which year, Maruti Udyog limited was started?
[A] 1982
[B] 1987
[C] 1985
[D] 1983

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15. Which sector was most affected due to the de-industrialization of the British?
[A] Jute
[B] Textile
[C] Ship building
[D] Banking

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16. Which item is the largest contributor to Indian imports?
[A] Gems and precious metals
[B] Petroleum fuels and oils
[C] Electrical machinery and equipment
[D] Iron and steel

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17. During which five-year plan the Private sector was given priority over the public sector?
[A] 5th
[B] 7th
[C] 6th
[D] 8th

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18. The Government fixes Minimum support price(MSP) for agricultural goods on the basis of recommendation of which of the following?
[A] Commission for Agricultural Costs and Prices
[B] NITI Aayog
[C] Finance Ministry
[D] Agriculture Ministry

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19. Which crop is given Fair and Remunerative Price by the government?
[A] Coffee
[B] Tea
[C] Sugarcane
[D] Barley

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20. What was India’s seafood export value during April-October FY2025-26?
[A] 2.8 billion
[B] 4.19 billion
[C] 4.87 billion
[D] 7.45 billion

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