Indian Economy MCQs

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The World Tourism Organization (UNWTO) is the United Nations agency responsible for the promotion of sustainable and universally accessible tourism. Its headquarters is located at Madrid, Spain.

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Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society. The essential feature of capitalism is the motive to make a profit.

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India allows 100% FDI under the automatic route in B2B e-commerce and marketplace model since Press Note 3 (2016). FDI is not permitted in the inventory-based model. The marketplace model connects buyers and sellers without holding inventory. The restrictions were reiterated in Press Note 2 (2018). The Department for Promotion of Industry and Internal Trade regulates these FDI norms.

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Modernization of industries was a major highlight of the Eighth Plan. It is also known as Rao-Manmohan plan as economic liberalization was the highlight of this plan. Under this plan, the gradual opening of the Indian economy was undertaken to correct the burgeoning deficit and foreign debt. The plan was launched with twin objectives of alleviation of poverty and unemployment.

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Urea is also called carbamide. Its chemical formula is CO(NH₂)₂. Urea was first synthesized in 1828 by Friedrich Wöhler. Urea contains about 46% nitrogen by weight. It is widely used as a nitrogen-release fertilizer globally. In India, urea is the most commonly used fertilizer for agriculture.

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Sudan produced approximately 1.37 million tonnes of sesame seeds in 2025. Major sesame producing regions in Sudan include the Nile and Blue Nile areas. Sudan surpassed India and Myanmar in annual sesame seed production. FAO and other global agricultural databases confirm Sudan as the top sesame producing country as of 2025.

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Soybeans contribute over 90% of total U.S. oilseed production value. In the 2022/2023 marketing year, the total value of the U.S. soybean crop was $60.7 billion. Other U.S. oilseeds include peanuts, sunflower, canola, and flaxseed, which together account for less than 10% of total production value. The United States is consistently the second-leading global soybean producer.

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Madhya Pradesh has the largest forest cover by area in India, totaling 77,073 sq km, as per India State of Forest Report 2023. Madhya Pradesh is located in central India and constitutes about 25.11% of its total geographical area as forest cover. No other Indian state has a higher absolute forest area.

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China is the world’s largest producer of bamboo, with production exceeding 5 million hectares as of 2023. The country accounts for over 65% of global bamboo resources. Major cultivation regions in China include Fujian, Zhejiang, and Jiangxi. China leads in bamboo exports and bamboo-based industry output worldwide.

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Central Wool Development Board is located at Jodhpur. It was formed by the Ministry of Textiles, Government of India, in 1987, with the primary objective of developing the domestic wool textiles industry by undertaking support programmes.