Indian Economy MCQs

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The World Economic Forum publishes the Inclusive Growth and Development Report. The Inclusive Development Index was introduced with this report in 2017. The report evaluates economies using parameters like education, employment, labor compensation, and social protection. The World Economic Forum is headquartered in Geneva, Switzerland, and began the series under its System Initiative on Economic Growth and Social Inclusion.

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Alang is located in Bhavnagar district, Gujarat. It is recognized as the world’s largest ship-breaking yard. Alang consists of 183 ship breaking yards along 14 kilometers of coastline with a maximum capacity of 4.5 million Light Displacement Tonnage. As of 2024–25, Alang dismantles about 98% of ships broken up in India.

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Bharat Electronics Limited is classified as a Navratna company. Maharatna scheme was introduced in 2010. As of 2026, there are 14 Maharatna companies including Coal India Limited, Steel Authority of India Limited, and Hindustan Aeronautics Limited. Hindustan Aeronautics Limited received Maharatna status in October 2024. Bharat Electronics Limited has not been granted Maharatna status.

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Since 1980, the United Nations World Tourism Organization has celebrated World Tourism Day as international observances on September 27. This date was chosen as on that day in 1970, the Statutes of the UNWTO were adopted.

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Indian cotton industry lagged due to absence of skilled technicians and managers, and lack of industrial revolution, unlike England, hindering technological advancement and efficient management in the textile sector during the British rule.

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Fukuzawa Yukichi (1835–1901) was a Japanese educator, writer, and political thinker whose ideas strongly influenced Japan’s modernization after the Meiji Restoration of 1868. He advocated practical learning, independence, and Western-style education, making him one of the most important intellectual figures of modern Japan.

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Trade unions are a key feature of the organised sector, providing collective bargaining, better wages, and improved benefits. Their absence would be a disadvantage, not an advantage. Organised sector workers also enjoy fixed working hours, job security, and safer working conditions.

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The state secondary education boards were introduced during the Third Five-Year Plan. The plan also emphasized greater state responsibility in education and other public services, including electricity boards and road transport corporations.

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Modernization of industries was a major highlight of the Eighth Plan. It is also known as Rao-Manmohan plan as economic liberalization was the highlight of this plan. Under this plan, the gradual opening of the Indian economy was undertaken to correct the burgeoning deficit and foreign debt. The plan was launched with twin objectives of alleviation of poverty and unemployment.

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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.