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. The term OTDS is mainly linked to which WTO negotiation area?
[A] Intellectual Property & Geographical Indications
[B] Non-Agricultural Market Access (NAMA)
[C] Agriculture
[D] Services Trade
Show Answer
Correct Answer: C [Agriculture]
Notes:
Overall Trade-Distorting Domestic Support (OTDS) is defined in the context of WTO agriculture negotiations. OTDS includes Aggregate Measure of Support (AMS), Blue Box payments, and de minimis support. OTDS commitments were discussed during the Doha Round agriculture talks beginning in 2001. WTO ministerial conferences periodically review and negotiate OTDS reduction by member countries. India and other countries have submitted proposals focusing on agriculture OTDS at these negotiations.
12. The Financial Action Task Force (FATF) is an initiative of:
[A] SAARC
[B] IMF
[C] BRICS
[D] G7 countries
Show Answer
Correct Answer: D [ G7 countries ]
Notes:
The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Member of G7. The FATF has developed a series of Recommendations that are recognised as the international standard for combating of money laundering and the financing of terrorism and proliferation of weapons of mass destruction. Group of 7 (G7) is a group consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
13. Where is the headquarters of Hindustan Zinc Ltd?
[A] Jaipur
[B] Jodhpur
[C] Jaisalmer
[D] Udaipur
Show Answer
Correct Answer: D [Udaipur]
Notes:
Hindustan Zinc Limited (HZL) is an integrated mining and resources producer of zinc, lead, … Chanderiya (Chittorgarh), Debari (Udaipur) & Dariba (Rajsamand) in Rajasthan with total zinc and lead production capacity of 1.0 million tonnes.
14. First Five-Year Plan laid stress on which of the following sectors? (UPSC Prelims 1982)
[A] Agriculture
[B] Industry
[C] Power
[D] Uplifting of poor people
Show Answer
Correct Answer: A [Agriculture]
Notes:
The first Indian Prime Minister presented the First Five-Year Plan to the Parliament of India. The First Five-year Plan was launched in 1951 which mainly focused in development of the primary sector i.e. agriculture.
15. Which is a non-conventional energy source in rural India? (UPSC Prelims 1988)
[A] Fuel wood
[B] Cow-dung cake
[C] Solar mini-grids
[D] Agricultural residue burning
Show Answer
Correct Answer: C [Solar mini-grids]
Notes:
Solar mini-grids use solar photovoltaic panels to generate electricity. They are classified as non-conventional energy sources in India. Distributed renewable energy initiatives have installed solar mini-grids in rural areas under government schemes. Solar energy is renewable and does not emit greenhouse gases. By June 2024, multiple villages in India have been electrified using solar mini-grids. Solar power is not traditional in Indian rural energy use.
16. Which among the following sectors work can be outsourced?
[A] Primary sector
[B] Secondary sector
[C] Tertiary sector
[D] Public sector
Show Answer
Correct Answer: C [Tertiary sector]
Notes:
The tertiary sector’s activities help in the development of the primary and secondary sectors. By itself, economic activities in the tertiary sector do not produce goods so they can be outsourced.
17. Which Indian state was declared the country's first 100% organic state?
[A] Kerala
[B] Sikkim
[C] Assam
[D] Arunachal Pradesh
Show Answer
Correct Answer: B [Sikkim]
Notes:
Sikkim was declared India’s first 100% organic state in January 2016. It later received international recognition for this achievement. Uttarakhand is often cited as the second organic state in India.
18. Where is the Central Seed Testing and Referral Laboratory located?
[A] Dehradun
[B] Ladakh
[C] Varanasi
[D] Pune
Show Answer
Correct Answer: C [Varanasi]
Notes:
The Central Seed Testing and Referral Laboratory was established in 2005 at Varanasi, Uttar Pradesh. The laboratory serves as a reference institution for seed testing in India. It operates under the Department of Agriculture and Cooperation, Ministry of Agriculture, Government of India.
19. Which Indian law bans the usage of GM seeds without approval?
[A] Seeds Act, 1966
[B] Seeds Rules, 1968
[C] Environmental Protection Act, 1986
[D] Environmental Protection Act, 2000
Show Answer
Correct Answer: C [Environmental Protection Act, 1986]
Notes:
Under the Environmental Protection Act,1986 GM seeds cannot be used without approval. Violation of this can result in a 5-year jail term or fine up to 1 lakh rupees.
20. Which food crop’s production increased most in India after Independence?
[A] Rice
[B] Wheat
[C] Maize
[D] Pulses
Show Answer
Correct Answer: B [Wheat]
Notes:
Wheat production in India increased significantly after the Green Revolution began in 1965-66. The annual wheat output rose from 11 million tonnes in 1966-67 to over 95 million tonnes in 2013-14. Yield per hectare went from about 0.8 tonnes in 1948 to 4.7 tonnes by the late 1970s. The Green Revolution introduced high-yield varieties and expanded irrigation.
