Indian Economy MCQs

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Gujarat is the largest producer of salt in India because of its extensive dry coast. Gujarat accounts for 77% of the salt produced in our country. Salt industries of Gujarat are thriving in Surat, Kutch, Bhavnagar, Rajkot, Anand, etc.

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Banaras Locomotive Works (BLW), formerly known as Diesel Locomotive Works, is located in Varanasi, Uttar Pradesh. BLW was established in 1956. It is the largest locomotive manufacturing facility in India. The unit was renamed BLW in October 2020. BLW manufactures electric locomotives including WAP-7 and WAG-9 models. The factory exports locomotives to countries like Sri Lanka, Myanmar, and Mozambique.

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Under employment is a condition in which people in labor force are employed at less than full time or require regular job or at jobs inadequate with respect to training or economic need.

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As per RBI, any non-banking financial company can be registered as an Infrastructure Finance Company, subject to minimum, 75% of the total assets of the company, should be deployed in the infrastructure loans.

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India’s Foreign Trade Policy 2023 targets $2 trillion in exports by 2030. The policy emphasizes export promotion, import regulation, sectoral diversification, digitization, and improved infrastructure. Key initiatives include RoDTEP, PM Gati Shakti, and Bharat Trade Net. The policy aims to boost MSME contribution, encourage e-commerce, align with global standards, and promote ease of doing business.

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In 1991-92, interest payments were the largest non-plan expenditure, estimated at Rs. 27,450 crores, surpassing other items like subsidies and compensations. This reflected the high fiscal burden due to accumulated government debt and was a key reason for economic reforms initiated that year.

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Sunrise industry is a term used for a sector that is just in its infancy but shows promise of a rapid boom. The industry is typically characterized by high growth rates, a high degree of innovation, and generally has plenty of public awareness about the sector, and investors get attracted to its long-term growth prospects.
Except for the cotton industry, all the others are part of the sunrise industry as the cotton industry is not a new industry in India.

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Poor infrastructure is the main hindrance to India’s economic growth in 2026, affecting manufacturing (12.5% of GDP), FDI inflow, labor reforms, and land acquisition reforms. Despite growth in GDP and services exports, infrastructure deficits persist as the primary barrier over high population or export volumes.

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The ideal N(Nitrogen):P(Phosphorous):K(Potassium) ratio. for the top soil is 4:2:1

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Linseed (Alsi in Hindi) has a unique drying property and is suitable for the manufacturing of paints, varnishes, printing ink etc. A small part is used as edible oil also.