Indian Economy MCQs

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When CRR is increased , it decreases money supply, Increases interest rates on home loans, car loans etc. and in inter-bank market, Increases demand for money and decreases inflation.

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The public debt is how much a country owes to lenders outside of itself. The term “public debt” is often used interchangeably with the term sovereign debt. Public debt usually only refers to national debt.

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Rolling Plan (1979–1980) The Janata Party government rejected the Fifth Five-Year Plan and introduced a new Sixth Five-Year Plan (1978–1980).

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In capital markets, government and corporations are the major suppliers of trading instruments. Capital markets refer to the places where savings and investments are moved between suppliers of capital and those who are in need of capital.

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India’s textile and clothing industry contributes 4% per cent to Gross.  Partition of India in 1947 affected Indian cotton and jute industry badly. Most of the weavers who were Muslims migrated to Pakistan.

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Price Elasticity is the measure of the degree of responsiveness of demand for a commodity to change in its price. That means the low price elasticity is demand doesn’t change with the price. These are the necessary goods.

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Amartya Sen is an Indian economist, who has worked internationally, highlighting ethical considerations behind his economic thinking. Sen has contributed greatly to welfare economics, arguing for instance that famines arise due to a lack of income, not food.

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Top 10 Imports of India

#	Import Category	Import Value	Share of Total Imports	Top Source Countries
1	Petroleum fuels & oils	US$220.6B	31.4%	Russia, Iraq, Saudi Arabia, UAE
2	Electrical machinery & equipment	US$84.9B	12.1%	China, Vietnam, South Korea
3	Gems & precious metals	US$83.3B	11.9%	Switzerland, UAE, South Africa
4	Machinery incl. computers	US$61.6B	8.8%	Germany, USA, Japan
5	Organic chemicals	US$26B	3.7%	China, USA, Singapore
6	Plastics & plastic articles	US$21.9B	3.1%	China, Germany, USA
7	Iron & steel	US$17.7B	2.5%	South Korea, China, Japan
8	Animal & vegetable oils	US$17B	2.4%	Indonesia, Malaysia, Ukraine
9	Optical/technical/medical apparatus	US$13.7B	1.9%	Germany, USA, Japan
10	Aircraft & spacecraft	US$12.6B	1.8%	USA, France, Russia

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The Indian Institute of Horticultural Research (IIHR) is an autonomous organization in Bengaluru. It is acting as a nodal agency for basic, strategic, anticipatory and applied research on various aspects of horticulture such as fruits, vegetable, ornamental, medicinal and aromatic plants and mushrooms in India.

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The top 4 fish producing states are:
1. West Bengal
2. Andhra Pradesh
3. Gujarat
4. Kerala