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. Kudremukh iron ore was historically exported from which port?
[A] Cochin
[B] Chennai
[C] Mangalore
[D] Karwar
Show Answer
Correct Answer: C [Mangalore]
Notes:
The Kudremukh Iron Ore Company Limited, formed in 1976 in Karnataka, transported mined ore via slurry pipeline to Panambur. Export operations used New Mangalore Port. Kudremukh mine ceased operations in 2006 after Supreme Court directive. KIOCL now exports pellets through Mangalore port. New Mangalore Port is a major port located in Karnataka on the Arabian Sea, operational since 1974.
12. Courier service comes under which of the following sectors?
[A] Primary
[B] Secondary
[C] Both Secondary and Tertiary
[D] Tertiary
Show Answer
Correct Answer: D [Tertiary]
Notes:
The tertiary industry is the segment of the economy that provides services to its consumers, including a wide range of businesses such as financial institutions, schools and restaurants. It is also known as the tertiary sector or service industry/sector.
13. Who among the following was the first woman to head an Indian public sector bank?
[A] Shikha Sharma
[B] Chanda Kochar
[C] Arundhati Bhattacharya
[D] Ranjana Kumar
Show Answer
Correct Answer: D [Ranjana Kumar]
Notes:
Ranjana Kumar became the first woman to head an Indian public sector bank when she was appointed Chairman and Managing Director of Indian Bank. This made her a notable first in the history of public sector banking in India. Arundhati Bhattacharya is also a landmark figure, but she is known as the first woman Chairperson of State Bank of India, not the first woman to head any public sector bank. Hence, the correct answer is Ranjana Kumar.
14. Which feature distinguished the Eighth Five-Year Plan (1992-97) from earlier plans? (UPSC Prelims 1996)
[A] It marked the first plan after India’s 1991 economic reforms
[B] It achieved the highest actual growth rate of 6.8%
[C] It introduced industrial delicensing and opening of economy
[D] It targeted creation of 80 million employment opportunities
Show Answer
Correct Answer: A [It marked the first plan after India’s 1991 economic reforms]
Notes:
The Eighth Five-Year Plan (1992-1997) was the first plan implemented after India introduced economic reforms in 1991. The plan focused on indicative planning, market-led economy, liberalization, privatization, and globalization. India’s membership in the World Trade Organization began in January 1995 during this plan. Previous plans were based on centralized state control and public sector dominance.
15. Who among the following is not part of the Quinary sector?
[A] Scientist
[B] Lawyer
[C] Financial consultant
[D] Florist
Show Answer
Correct Answer: D [Florist]
Notes:
The quinary sector is the part of the economy where the top-level decisions are made. This includes the government which passes legislation. It also comprises the top decision-makers in industry, commerce, and also the education sector. Floriculture comes under Primary Sector.
16. What does a rolling plan refer to?
[A] Targets are changed every year
[B] Plan allocation changes every year
[C] Changes both allocation and target every year
[D] Dont change target but change allocation
Show Answer
Correct Answer: C [Changes both allocation and target every year]
Notes:
Rolling plan can be defined as the plan where there is no fixation of dates in respect of commencement and end of the plan. The meaning of the Rolling Plan was that now, every year the performance of the plan will be assessed and a new plan will be made next year based upon this assessment.
17. Which scheme is NOT a component of Pradhan Mantri Krishi Sinchayee Yojana?
[A] Accelerated Irrigation Benefits Programme (AIBP)
[B] Per Drop More Crop (PDMC)
[C] Watershed Development Component (WDC)
[D] Pradhan Mantri Fasal Bima Yojana (PMFBY)
Show Answer
Correct Answer: D [Pradhan Mantri Fasal Bima Yojana (PMFBY)]
Notes:
Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) was launched in 2015. Its main components are Accelerated Irrigation Benefits Programme, Per Drop More Crop, and Watershed Development Component. Pradhan Mantri Fasal Bima Yojana (PMFBY) is a separate crop insurance scheme, launched in 2016, and is not a component under PMKSY.
18. Which International organization releases the Global Forest Assessment report?
[A] UN-FAO
[B] World economic forum
[C] CITES
[D] International Union of Forests research organization
Show Answer
Correct Answer: A [UN-FAO]
Notes:
The Global Forest Resources Assessment (FRA) is released by the Forestry Department of the Food and Agriculture Organization of the United Nations . It reports on the status and trends of the world’s forest resources.
19. Which country is the largest exporter of raw cashew nuts?
[A] India
[B] Vietnam
[C] Ivory Coast
[D] Brazil
Show Answer
Correct Answer: C [Ivory Coast]
Notes:
Ivory Coast (Côte d'Ivoire) is the world's largest exporter of raw cashew nuts (in-shell). Vietnam, by contrast, is best known as the leading exporter of processed cashew kernels and a major importer of raw cashews for its processing industry.
20. In which year the Synthetic and Rayon Textiles Export Promotion Council (SRTEPC) was established?
[A] 1960
[B] 1954
[C] 1965
[D] 1949
Show Answer
Correct Answer: B [1954]
Notes:
The Synthetic and Rayon Textiles Export Promotion Council (SRTEPC) was set up in 1954 to extend all possible assistance to Indian exporters of synthetic and rayon textiles and to overseas buyers with business in India.
