Indian Economy MCQs

Notes:
India’s first tribal circuit tourism project under the Swadesh Darshan scheme has launched at Gangrel in Chhattisgarh on September 13. It covers 13 sites in Chhattisgarh which are Jashpur, Kunkuri, Mainpat, Kamleshpur, Maheshpur, Kurdar, Sarodadadar, Gangrel, Kondagaon, Nathiya Nawagaon, Jagdalpur, Chitrakoot and Tirthgarh. Under the tribal circuit theme of the scheme the Ministry of Tourism has sanctioned 4 projects to Nagaland, Telangana and Chhattisgarh for Rs. 380 crore. Major components sanctioned in the tribal circuit theme include eco log huts, craft haats, souvenir shops or kiosk, tourist reception and facilitation centres, open amphitheatre, tribal interpretation centres, workshop centres, tourist amenities centres, last mile connectivity, wayside amenities, viewpoints, nature trails, solar illuminations, signages and solid waste management among others. The Swadesh Darshan scheme was launched in 2014 -15 for development of thematic circuits in the country in a planned and prioritized manner.

Notes:
Financial inclusion in India refers to providing affordable financial services such as payments, savings, credit, and insurance. The Reserve Bank of India has promoted financial inclusion through initiatives like Jan Dhan Yojana, launched in 2014, to increase banking penetration and usage. Financial inclusion is essential in India’s economic and social policy frameworks as per RBI guidelines and government mandates.

Notes:
The Finance Commission, constituted under Article 280 of the Indian Constitution, recommends the distribution of net tax proceeds between the Centre and States and suggests principles for grants-in-aid. It is constituted every five years or earlier as deemed necessary by the President.

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Stagflation is a condition of slow economic growth and relatively high unemployment, or economic stagnation, accompanied by rising prices, or inflation. It can also be defined as inflation and a decline in gross domestic product (GDP).

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The Unorganised sector is marked by low incomes, unstable and irregular employment, and lack of protection either from legislation or trade unions. They use mainly labor-intensive technology. The workers in the unorganized sector, are so scattered that the implementation of the Legislation is very inadequate and ineffective.

Notes:
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.

Notes:
“Which is not a characteristic of the Indian Economy?

– Chronic Unemployment and Underemployment
– High Poverty
– Equal distribution of wealth
– Low Labor Productivity

Correct option: 3

Explanation: The Indian Economy features unequal wealth distribution. According to the 2026 World Inequality Report, the top 1% of the population holds 40% of the wealth, and the richest 10% hold about 65% of total wealth, with no signs of reduction in recent years. This confirms persistent inequality across income, wealth, and gender dimensions.”

Notes:
Genetically modified crops have led to reduced production costs and increased yields since 2006. GM technology has decreased global pesticide use by 8.3% and improved crop resistance to drought and diseases. Enhanced nutritional value is demonstrated by Golden Rice, which contains vitamin A. Higher yields of soybean, cotton, and maize have been recorded. These factors contribute to lower, not increased, food prices for consumers.

Notes:
In September 2015, the Government of India mandated 100 percent neem coating for domestically produced urea. This requirement was implemented to prevent diversion of subsidized urea, enhance nitrogen use efficiency, and improve crop yields. Neem coating of urea acts as a nitrification inhibitor, reducing nitrogen loss through leaching and volatilization while discouraging misuse of urea for industrial purposes.

Notes:
Poverty and limited income reduce access to sufficient nutritious food. Food insecurity occurs when households cannot afford adequate food. In 2022, nearly 350 million people globally were food insecure due to poverty. Economic hardship remains the principal driver. Malnutrition is a result, not a cause, of food insecurity. The United Nations identifies poverty as the leading root cause of food insecurity worldwide.