Indian Economy MCQs

Notes:
The Financial Stability Board was established in 2009 after the G20 Pittsburgh Summit. It succeeded the Financial Stability Forum. The Board includes all G20 major economies, FSF members, and the European Commission. The Board is hosted by the Bank for International Settlements in Basel, Switzerland. The FSB’s formation and mandate are directly associated with the G-20 group of countries.

Notes:
Odisha has the largest coal reserves in India with 94.52 billion tonnes as of April 1, 2025. This constitutes about 28.8% of India’s total coal reserves. Major coalfields in Odisha include Talcher, Ib Valley, and Rampia. The state is a leading coal producer and exporter, and vast coal resources are managed under the Mahanadi Coalfields Limited, a subsidiary of Coal India Limited.

Notes:
Coal accounted for about 70% of India’s electricity generation in 2025. Coal-based power output was 1,247 TWh in 2025 after a 3.4% decline. Non-fossil sources contributed 25% collectively in FY 2024-25. India added 35 GW solar in 2025, but total renewable generation reached 270 TWh compared to coal’s 1,247 TWh.

Notes:
Some of the major instruments of fiscal policy are Budget, Taxation, Public Expenditure, Public Works, Public Debt, etc. They consist of changes in government revenues or rates of the tax structure so as to encourage or restrict private expenditures on consumption and investment.

Notes:
Unsafe water, contaminated food, and polluted air are linked to around 40% of global deaths caused by pollution in developing countries. Waterborne diseases like cholera and diarrhoea account for significant mortality, especially in children. Air pollution contributes to respiratory diseases, increasing mortality rates among children under age five. Contaminated food transmits diarrhoeal diseases and other infections, particularly in low-income regions.

Notes:
The unorganised sector dominates India’s national income, with over 31 crore registered workers as of Jan 2026. GVA per establishment nearly doubled between 2010-11 and 2023-24. Unorganised sector accounts for a majority workforce, especially in services, reflecting ongoing structural shifts in India’s economy.

Notes:
India is the world’s largest importer of edible oil. In 2025, India’s edible oil imports were valued at 21.8 billion, accounting for 18.9% of global imports. India imports about 16.7 million tonnes annually, with major suppliers being Indonesia and Malaysia for palm oil, and Argentina and Brazil for soybean oil. China is the second-largest importer, with 14.6 billion in imports.

Notes:
The Indian Institute of Horticultural Research (IIHR) is an autonomous organization in Bengaluru. It is acting as a nodal agency for basic, strategic, anticipatory and applied research on various aspects of horticulture such as fruits, vegetable, ornamental, medicinal and aromatic plants and mushrooms in India.

Notes:
India has 13 major ports as of 2023. These include Kandla, Mumbai, JNPT, Mormugao, New Mangalore, Cochin, Chennai, Ennore (Kamarajar), Tuticorin (V.O. Chidambaranar), Paradip, Visakhapatnam, Kolkata (Syama Prasad Mookerjee Port), and Port Blair. These ports are administered by the Central Government under the Major Port Trusts Act, 1963, and handle most of India’s maritime cargo traffic.

Notes:
Madhya Pradesh produces around 25 lakh standard bags of tendu leaves annually. The state contributes approximately 25% of India’s tendu leaves production. Tendu leaf collection in Madhya Pradesh is managed by the State Minor Forest Produce Association. More than 3.5 million collectors are involved in ten districts. The area was higher before Chhattisgarh separated in 2000.