Indian Economy MCQs

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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 He has been replaced by Marcos Prado Troyjo from Brazil since 7 July 2020.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.

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The Central Seed Testing and Referral Laboratory was established in 2005 at Varanasi, Uttar Pradesh. The laboratory serves as a reference institution for seed testing in India. It operates under the Department of Agriculture and Cooperation, Ministry of Agriculture, Government of India.

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Kerala produces around 78% of India’s natural rubber. In 2022-23, Kerala produced about 490,960 tons of rubber. The state has favorable tropical climatic conditions with high rainfall and humidity, suitable for rubber cultivation. Plantations are mainly concentrated in Kottayam, Pathanamthitta, and Idukki districts. The Rubber Board of India is headquartered in Kottayam, Kerala.

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Strip cropping involves planting crops in alternating strips along the contours of land. This method reduces soil erosion by establishing barriers that slow water flow and trap sediment. The practice is used on sloped land and with crops like wheat, hay, and corn. Strip cropping helps decrease soil loss by 65 to 75 percent compared to open field planting. It stabilizes soil and improves water infiltration.

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Brazil became the largest cotton exporter globally in 2023, surpassing the USA. Brazil’s high-yield production averages 1.8 times more than the USA. Brazil uses double-cropping of cotton following soybeans and has lower production costs. Brazil’s share of world cotton exports is projected to lead through the 2025/26 season. Its improved logistics also support this leading export position.

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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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Project CHAMAN was launched in September 2014. It uses geoinformatics for assessment of horticulture crops. The project surveys seven main crops: potato, onion, tomato, chilli, mango, banana, and citrus. The survey began in 12 states and expanded to 15 states in its second phase. Project CHAMAN is distinct from FASAL, which estimates field crops such as rice and wheat.

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The government has launched Kisan Urja Suraksha evam Utthaan Mahabhiyan (KUSUM) scheme to harness the solar energy. Under this the scheme seeks to replace all diesel pump-sets with solar pumps and the excess power generated through solar panels will be purchased by state governments at a price that gives the farmer a good profit.

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The government increased the maximum turnover limit for startup recognition under Startup India from ₹100 crore to ₹200 crore in February 2026. Startups must operate as private limited companies, limited liability partnerships, or registered partnerships to qualify. The Startup India initiative was launched in 2016 by the Government of India to support entrepreneurship and innovation across the country.

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Manufacturing one tonne of Portland cement typically produces about 0.8 to 0.9 tonnes of carbon dioxide. This includes CO2 from limestone calcination and fuel use. Global average cement emissions intensity was about 580 kilograms CO2 per tonne of cementitious product in 2022, but for standard Portland cement, figures are usually higher at 0.8 to 0.9 tonnes.