Indian Economy MCQs

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The National Sample Survey Office (NSSO) headed by a Director General is responsible for conduct of large scale sample surveys in diverse fields on All India basis. Primarily data are collected through unorganized sector.

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Local Area Banks were introduced in India by the RBI in 1996 with a minimum paid-up capital of Rs 5 crore. Local Area Banks can be included in the Second Schedule of the RBI Act, 1934 if they satisfy RBI’s criteria, thereby becoming scheduled banks. If they do not meet these criteria, they remain non-scheduled banks.

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Irving Fisher, a leading American neoclassical economist, published “The Theory of Interest as Determined by Impatience to Spend Income and Opportunity to Invest It” in 1930. His pioneering work analyzed interest rates, relating them to savings impatience and investment opportunities, influencing modern interest theory and macroeconomics.

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Amartya  Sen has made contributions to welfare economics, social choice theory, economic and social justice, economic theories of famines, and indices of the measure of well-being of citizens of developing countries. His work on welfare economics got him Noble prize in economic in 1998.

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Mid-Day Meal Scheme was launched with a view to enhancing enrolment, retention and attendance and simultaneously improving nutritional levels among children, the National Programme of Nutritional Support to Primary Education (NP-NSPE) was launched as a Centrally Sponsored Scheme on 15th August 1995.

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The United States averages 126.4 grams of sugar consumption per person daily. Germany averages 102.9 grams, Netherlands 102.5 grams, and Ireland 96.7 grams. The United States ranks highest in per capita sugar consumption globally based on latest available dietary studies and food industry data. This value is consistently reported in international health and nutrition databases as of 2023.

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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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National Fisheries Development Board (NFDB) was set up in September 2006. Its headquarter is at Hyderabad to realize the untapped potential of fisheries sector, fish culture, processing & marketing of fish, application of modern tools of research & development` for optimizing production and productivity in fisheries.

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Monopolies and Restrictive Trade Practices Commission (MRTPC) was set up under the Monopolies and Restrictive Trade Practices Act, 1969. The MRTPC is an organ of the Department of Company Affairs, Ministry of Corporate Affairs, Government of India. MRTPC is a quasi-judicial body.

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On October 1, 2021, the Indian government restructured the 41 Ordnance Factories into seven Defence Public Sector Undertakings. The seven DPSUs formed are Munitions India Limited, Armoured Vehicles Nigam Limited, Advanced Weapons and Equipment India Limited, Troop Comforts Limited, Yantra India Limited, India Optel Limited, and Gliders India Limited.