Indian Economy MCQs

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Francis Fukuyama is a political economist who tracks how economic, technological, and social forces facilitate as well as undercut liberal democracy. He published this in 1992. The end of history and last man is a book of political philosophy which is a satire on the events that occurred after the Cold War and fall of the soviet union in 1991.

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Amartya Sen, noted Nobel Laureate, has developed an index known as Sen Index to estimate the poverty.
The Global Multidimensional Poverty Index (MPI) was developed in 2010 by the Oxford Poverty & Human Development Initiative (OPHI) and the United Nations Development Programme and uses health, education, and standard of living indicators to determine the degree of poverty experienced by a population.
The poverty gap index is a measure of the intensity of poverty.

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Declaration of droughts is done by the States. Meteorological drought and agricultural drought are 2 kinds.
Meteorological drought is when rainfall is 10% or more, less than normal. Agricultural drought is when 20% or more area of a state is facing drought.

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Wheat is an annual cereal crop mainly cultivated in temperate regions. Wheat is grown in rabi season in India and harvested during March–April. Wheat requires well-drained loamy soil and a cool growing season. India is the second-largest producer of wheat globally. Wheat is not considered a plantation crop, which typically includes tea, rubber, and coffee.

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Soybeans contribute over 90% of total U.S. oilseed production value. In the 2022/2023 marketing year, the total value of the U.S. soybean crop was $60.7 billion. Other U.S. oilseeds include peanuts, sunflower, canola, and flaxseed, which together account for less than 10% of total production value. The United States is consistently the second-leading global soybean producer.

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India’s horticultural exports surpassed USD 5 billion in FY25. Floriculture exports reached Rs 2,000 crore (USD 233.37 million) in the same period. India’s horticultural output totals over 355 million metric tonnes annually, ranking second globally. Fresh fruits and vegetables constitute the fastest-growing segment, with a projected CAGR of 7.42% through 2031. Exports include fruits, vegetables, and floriculture products.

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Silviculture is defined as the art and science of controlling the establishment, growth, composition, health, and quality of forests and woodlands to meet the needs and values of landowners and society on a sustainable basis. It includes operations such as regeneration, tending, and harvesting, with objectives including timber production, wildlife habitat, and ecological health.

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According to the Union Water Resources Ministry, about 84% of India’s available water resources are utilized for irrigation. Approximately 688 billion cubic meters of water out of 813 billion cubic meters is used by agriculture. Groundwater fulfills about 62% of irrigation needs, while surface water is used for the remainder. Demand is expected to grow further by 2025 and 2050.

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The Government established Small Farmers’ Agri-Business Consortium (SFAC) as a Society in January 1994 to facilitate agri-business ventures by catalyzing private investment through Venture Capital Assistance (VCA) Scheme in close association with financial institutions.

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The Silver Revolution took place in India during the 1969–79 period. It focused on increased egg production through poultry sector development. The revolution resulted in India becoming one of the world’s largest producers of eggs. The National Egg Coordination Committee was formed in 1982. The Silver Revolution improved rural livelihoods through poultry activities.