Indian Economy MCQs

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Chor Bazaar, located in South Mumbai, is over 150 years old and renowned for antiques, vintage collectibles, old clocks, Victorian furniture, and rare items. It is one of India’s most historic secondhand markets, attracting antique enthusiasts and tourists alike.

Notes:
Proportional representation is most useful in multiparty settings, where vote shares need to be translated into legislative seats more accurately. It is less necessary when a stable two-party system has already emerged, because each major party can usually win substantial representation under plurality-based elections. In such systems, the need to correct distortions between votes and seats is comparatively lower. Hence, a two-party system is the condition where proportional representation is less needed for fair representation.

Notes:
Amartya Sen’s “Poverty and Famines”, an essay by Sen on Entitlement and Deprivation (1981) is both theoretical and applied for work. In the essay, several famines have been studied in the working of a general theoretical framework from an original angle. He examined various meanings of poverty and drew attention to the incidence of absolute and relative deprivation.

Notes:
In the public sector, the government owns most of the assets and it is the part of the economy concerned with providing various governmental services. The purpose of the public sector is not just to earn profits. Governments raise money through taxes and other ways to meet expenses on the services rendered by it.

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The Unorganised sector is marked by low incomes, unstable and irregular employment, and lack of protection either from legislation or trade unions. They use mainly labor-intensive technology. The workers in the unorganized sector, are so scattered that the implementation of the Legislation is very inadequate and ineffective.

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In 2025-26, India is projected to import 8-8.5 million tonnes of palm oil. Total edible oil imports are expected at 16.7 million tonnes. Indonesia and Malaysia are primary suppliers of palm oil to India. In November 2025-January 2026, India imported 1.91 million tonnes of palm oil. Palm oil leads over soybean and sunflower oils in import volume.

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Linseed (Alsi in Hindi) has a unique drying property and is suitable for the manufacturing of paints, varnishes, printing ink etc. A small part is used as edible oil also.

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Andhra Pradesh produced approximately 326 thousand metric tons of crude palm oil in fiscal year 2023. Andhra Pradesh had the highest palm oil area under cultivation with 13,286 hectares in 2025-26. Andhra Pradesh consistently surpasses other states like Goa and Telangana in both area and output of palm oil in India.

Notes:
Nashik is located in Maharashtra. Nashik is recognized for having around 52 wineries. It has approximately 1.75 lakh hectares under grape cultivation. Nashik produces about 10 lakh metric tonnes of grapes yearly. Nashik grapes achieved Geographical Indication status. The city exports nearly 55% of India’s grapes, with a significant share of Maharashtra’s wine production centered there.

Notes:
The reasons why tank irrigation is practiced mainly in Peninsular India: The undulating relief and hard rocks create difficulties to dig canals and wells; Little percolation of rainwater due to hard rock structure and groundwater is not available in large quantities; Most of the rivers in this region are seasonal and dry up during the summer season.