Indian Economy MCQs

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Twelfth Plan (2012–2017) of the Government of India has been decided to achieve a growth rate of 8.2% but the National Development Council (NDC) on 27 December 2012 approved a growth rate of 8% for the Twelfth Five-Year Plan.

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Foreign Portfolio Investment (FPI) covers investment in listed securities such as shares and bonds by foreign institutional investors. FPI does not grant control or management of companies. FIIs must register with SEBI to invest via FPI as per regulations amended in 2014. FPI contrasts with FDI, which involves direct control and long-term interest in an enterprise.

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The quaternary sector consists of intellectual activities often associated with technological innovation. It is sometimes called the knowledge economy.

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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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Pink-collar workers, often in services like nursing and teaching, are primarily found in the tertiary sector, which includes service-oriented jobs. The primary sector covers agriculture, secondary involves manufacturing, and quaternary relates to knowledge and information-based activities.

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The third Five-year plan was made for the duration of 1961 to 1966. This plan is called ‘Gadgil Yojna’ also. The main target of this plan was to make the country economically independent.

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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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Parallel Cropping is cropping where two crops are selected which have different growth habits and have zero competition between each other.

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The Public Distribution System (PDS) in India primarily includes Fair Price Shops—the retail outlets where food grains are distributed to beneficiaries—and Food Corporation of India (FCI) depots, which manage the storage and movement of grains. Cooperative Stores and Military Canteens operate outside the PDS framework and are not involved in its distribution network.

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ATMA was launched in 1998 under the National Agricultural Technology Project. It operates at the district level as an autonomous agency. Its objective includes pilot testing and implementing new institutional arrangements for agricultural technology dissemination. The District Collector or equivalent official chairs the ATMA Governing Board. ATMA integrates extension activities of governmental and non-governmental bodies. It does not function at the state level or use PSUs for farmer organization.