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. What is the ICMR daily calorie norm for rural areas in India?
[A] 2,100 kcal per day
[B] 2,200 kcal per day
[C] 2,400 kcal per day
[D] 2,500 kcal per day
Show Answer
Correct Answer: C [2,400 kcal per day]
Notes:
The Indian Council of Medical Research recommends 2,400 kcal per person per day as the calorie norm for rural areas. The norm for urban areas is set at 2,100 kcal per day. The ICMR released these recommendations to reflect higher physical activity in rural populations. National Sample Survey Office (NSSO) reports use these benchmarks in poverty and nutrition studies.
12. Which of the following is an alternative way of representing the production function?
[A] Average Product
[B] The Long Run
[C] Isoquant
[D] The Short Run
Show Answer
Correct Answer: C [Isoquant]
Notes:
An isoquant is a firm’s counterpart of the consumer’s indifference curve. An isoquant is a curve that shows all the combinations of inputs that yield the same level of output. ‘Iso’ means equal and ‘quant’ means quantity.
13. Which sector is best described as a ‘Sunrise industry’? (UPSC Prelims 1988)
[A] Traditional agriculture
[B] Coal mining
[C] Cotton textiles
[D] Renewable energy technology
Show Answer
Correct Answer: D [Renewable energy technology]
Notes:
Renewable energy technology is classified as a sunrise industry due to its rapid growth and adoption of emerging technologies. It includes solar, wind, and other clean energy solutions. India ranked fourth globally in installed renewable energy capacity as of 2023. Government initiatives like the National Solar Mission target 175 GW of renewable energy capacity by 2022. Sunrise industries focus on innovation and future economic potential.
14. Who among the following created the Human development index?
- Amartya Sen
- Mehboob Ul Haq
- Paul Krugman
- Walter Gillies
Choose the correct option from the code given below:
[A] 1 and 2 only
[B] 2 and 3 only
[C] 1 and 4 only
[D] 3 and 4 only
Show Answer
Correct Answer: A [1 and 2 only]
Notes:
Amartya sen and Mehboob Ul Haq created the Human Development Index which captures the development of human beings of a country as development is not only about economic indicators.
15. Who is the first CEO of the New Development Bank?
[A] Arundhati Bhattacharya
[B] K V Kamath
[C] Arvind Subramaian
[D] Kaushik Basu
Show Answer
Correct Answer: B [K V Kamath]
Notes:
K.V. Kamath, was the first chief of the New Development Bank of BRICS countries, he has served as the Chairman of Infosys Limited, the second-largest Indian IT services company, and as the Non-Executive Chairman of ICICI Bank. He has been replaced by Marcos Prado Troyjo from Brazil since 7 July 2020. Marcos Troyjo was elected president of the New Development Bank on 27 May 2020.
16. In which years were annual plans first implemented in India?
[A] 1966 to 1969
[B] 1971 to 1975
[C] 1988 to 1991
[D] 1969 to 1972
Show Answer
Correct Answer: A [1966 to 1969]
Notes:
India introduced annual plans during the Plan Holiday period from 1966 to 1969. The government opted for three consecutive annual plans in 1966–67, 1967–68, and 1968–69 after the failure of the Third Five-Year Plan. The annual plans bridged the gap until the Fourth Five-Year Plan began in 1969.
17. Which five year plan gave emphasis on the removal of poverty for the first time?
[A] Fifth
[B] Sixth
[C] Seventh
[D] Eigth
Show Answer
Correct Answer: A [Fifth ]
Notes:
The Fifth Five-Year Plan from (1974-78) laid stress on employment, poverty alleviation (Garibi Hatao), and justice. It is the first time a plan had emphasis on poverty. The plan also focused on self-reliance in agricultural production and defense. In 1978 the newly elected Morarji Desai government rejected the plan.
18. Which of the below is / are used as Biofertilizer(s)?
- Agaricus
- Nostoc
- Spirogyra
- Azospirillum
Select the correct option from the codes given below:
[A] 1 and 2 only
[B] 3 and 4 only
[C] 2 and 4 only
[D] 1,2 and 3 only
Show Answer
Correct Answer: C [2 and 4 only ]
Notes:
Nostoc and Azospirillium are the organisms that are used as bio fertilizers. Nostoc is a blue green algae while Azospirillium is aerobic free-living nitrogen fixers which live in associative symbiosis.
19. Which country was the top paperboard importer in 2021?
[A] Germany
[B] United States
[C] China
[D] Italy
Show Answer
Correct Answer: C [China]
Notes:
China imported 12.7 million metric tons of paperboard in 2021. Germany was the second largest importer, followed by the United States and Italy. China surpassed other countries in paperboard imports according to 2021 international trade data.
20. What is the textile industry’s contribution to India’s GDP as of 2026?
[A] 1.5%
[B] 2.3%
[C] 4.5%
[D] 5.8%
Show Answer
Correct Answer: B [2.3%]
Notes:
The textile and apparel sector contributes about 2.3% to India’s GDP in 2026. The sector accounts for around 13% of industrial production. It represents approximately 8.63% of India’s total exports. The textile industry provides employment to over 45 million people directly. The estimated market size of the Indian textile industry is USD 179 billion. The sector is the second-largest employer after agriculture.
