Indian Economy MCQs

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The founder and Chairman of Madras School of Economics, Dr. Raja Jesudoss Chelliah was one of the top economists this country has produced.

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The service sector is concerned with the intangible aspect of offering services to consumers and businesses. It involves the retail of manufactured goods. It also provides services, such as insurance and banking.

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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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Mustard is sown in the Rabi season from October to December and harvested between February and April. Major Rabi crops in India include wheat, barley, mustard, peas, and gram. Rabi crops grow with the help of rainwater that has percolated into the ground post-monsoon. Mustard is mainly cultivated in states like Rajasthan, Uttar Pradesh, Haryana, and Madhya Pradesh.

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Food Corporation of India (FCI) was established in 1965 under the Food Corporations Act, 1964. It procures and maintains buffer stocks of foodgrains for the Public Distribution System and food security in India. FCI operates under the Ministry of Consumer Affairs, Food and Public Distribution. Headquarters are located in New Delhi. FCI stores wheat, rice, and other essential foodgrains as buffer stock.

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Davanagere district in Karnataka has the highest sunflower production according to Department of Agriculture data for recent years. Karnataka produces more than 50% of India’s sunflower, with Davanagere accounting for a major share. Government schemes under the National Mission on Edible Oils continue to promote sunflower cultivation in Davanagere during 2024-2026 as per official estimates.

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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.

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The Ministry of Agriculture & Farmers Welfare released third advance estimates on 27 November 2025 for 2024–25. The total area under horticultural crops in India is 29.488 million hectares for 2024–25. The area was 29.086 million hectares in 2023–24. Horticulture includes fruits, vegetables, and plantation crops. These estimates are part of annual agriculture data collection at the national level.

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Turkey is classified as white meat due to its low myoglobin content. Myoglobin is an iron-containing protein more abundant in red meat from mammals such as beef and venison. Turkey, along with chicken and most poultry, is considered white meat. Pork and beef are classified as red meat. Venison, which comes from deer, is also classified as red meat because of higher myoglobin levels.

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Agriculture, livestock, forestry, and fishing contributed approximately 18% to India’s nominal Gross Value Added in 2024. The First Advance Estimates for FY 2025-26 indicate a similar proportion. The share has declined from 52% in 1951 to 16-18% in 2024. The sector employs about 45.5% of India’s workforce.