Indian Economy MCQs

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All export and import-related activities including custom duty are governed by the Foreign Trade Policy (FTP), which is aimed at enhancing the country’s exports and use trade expansion as an effective instrument of economic growth and employment generation.

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The Local Area Banks are the only type of Non-scheduled Banks of India. However, they are eligible to be included in the Second Schedule of the RBI Ac

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Karnataka is the largest producer of silk in India, producing about one-third of the country’s silk each year. The state produces an average of 8,200 metric tonnes of silk annually. The five states that produce the most silk in India are: Karnataka, Andhra Pradesh, Tamil Nadu, West Bengal, Jammu & Kashmir. These five states produce almost 97% of India’s mulberry silk.

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The World Bank provides low-interest loans, interest-free credit, and grants. It focuses on improving education, health, and infrastructure. It also uses funds to modernize a country’s financial sector, agriculture, and natural resources management.

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Sir William Arthur Lewis (23 January 1915 – 15 June 1991) was an economist well known for his contributions in the field of economic development. In 1979 he was awarded the Nobel Memorial Prize in Economic Science . He had dual Saint Lucian and British citizenships. Lewis published The Theory of Economic Growth in 1955 in which he sought to “provide an appropriate framework for studying economic development,” driven by a combination of “curiosity and of practical need.”

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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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All the given options are the measures taken by the government for the protection of workers in unorganized workers. Because of the conditions in the unorganized sector, there is a need for the government to give protection to these workers.

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Verghese Kurien is known as the ‘Father of the White Revolution’ in India, was a social entrepreneur whose “billion-liter idea”, Operation Flood, the world’s largest agricultural dairy development program which made India Self sufficient in Dairy products.

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Project CHAMAN was launched with the aim of helping the horticulture segment of Indian agriculture. This project aims to make use of the Geo-informatics to help the farmers and policy makers in the Government.

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India is the largest millet producing nation in the world. India is also the largest pulses producing nation.