Indian Economy MCQs

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India’s textile and clothing industry contributes 4% per cent to Gross.  Partition of India in 1947 affected Indian cotton and jute industry badly. Most of the weavers who were Muslims migrated to Pakistan.

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Transfer payment– is the payment by the government in grants, allowances, pensions etc to people such as pensioners, widows, sick or unemployed people or others with little or no income. It does not include subsidies given by the government .
Ex: PM KISAN amount transfer

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Arvind Panagariya, an Indian-American economist and professor at Columbia University, served as the first Vice-Chairman of NITI Aayog from January 2015 to August 2017.

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Tata Group acquired Air India from the government in 2022, regaining control after nearly 69 years of public ownership. Air India was initially founded as Tata Airlines in 1932 by J.R.D. Tata. The acquisition marks Air India’s return to its original founders.

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M.S.Swaminathan coined the term Evergreen revolution. Evergreen revolution refers to productivity improvement in perpetuity without ecological and social harm. The evergreen revolution involves the integration of ecological principles in technology development and dissemination.

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Lack of proper infrastructure slows economic activity and reduces access to markets, power, transport, and communication. As a result, interior or remote regions often develop more slowly than better-connected areas. This is a recognized effect of infrastructure deficiency in economic development.

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After Independence Indian economy was in a dismal state. The main focus of the first five-year plan was kept on the agricultural development as it is still the backbone of the Indian economy in terms of employment generation.

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Brazil produced 171.5 million metric tons of soybeans in 2024/2025. Brazil contributed around 40% of global soybean production in that year. The United States was second with 119.05 million metric tons. Argentina ranked third in production. Soybeans are the most produced oilseed worldwide. Brazil, the US, and Argentina together accounted for nearly 80% of world soybean output in 2024/2025.

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Oman imported Indian eggs worth 28.60 million in 2023, making it the largest destination for Indian egg exports. Maldives and Sri Lanka each imported 14.70 million, while Qatar imported $8.69 million. Oman has consistently led Indian egg imports by value in recent years. Egg exports mainly consist of shell eggs rather than poultry meat, which forms a much smaller export segment.

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Andhra Pradesh produced approximately 50 lakh metric tonnes of fish in 2023. The state contributed about 22% of India’s total fish production. Andhra Pradesh leads in aquaculture, especially shrimp farming. Marine and inland fisheries are the primary sources. The state surpassed West Bengal in fish production figures after 2021. West Bengal and Gujarat hold second and third positions respectively in recent years.