Indian Economy MCQs

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Infrastructure Finance Companies in India are registered with the Reserve Bank of India. They primarily provide long-term financial assistance for infrastructure projects. Their main activities include lending for infrastructure development, refinancing, and offering subordinated loans. They also facilitate equity participation and consulting services for large-scale infrastructure projects across sectors such as energy, transportation, and telecommunications. They do not engage in retail banking or property management.

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Subsidy a negative tax when the government gives money to reduce the price. A seller receives a subsidy to reduce the price for consumers. A manufacturer receives a subsidy for inputs incurred by them. A buyer sometimes receives a direct subsidy on important essentials like gas.

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Macroeconomics is a branch of economics that studies how an overall economy the market systems that operate on a large scale behaves. It deals with the performance, structure, behavior, and decision-making of an economy as a whole. Its features are Employment, national income, poverty etc.

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Francis Fukuyama is a political economist who tracks how economic, technological, and social forces facilitate as well as undercut liberal democracy. He published this in 1992. The end of history and last man is a book of political philosophy which is a satire on the events that occurred after the Cold War and fall of the soviet union in 1991.

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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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Golden Rice is a genetically modified variety developed to biosynthesize beta-carotene, a precursor of vitamin A. It was developed in the late 1990s by Ingo Potrykus and Peter Beyer. Golden Rice was created to address vitamin A deficiency in developing countries. The rice grains contain provitamin A, giving them a golden-yellow color. It is not commercially released in most countries as of 2024.

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Under the Environmental Protection Act,1986 GM seeds cannot be used without approval. Violation of this can result in a 5-year jail term or fine up to 1 lakh rupees.

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Ratoon cropping is growing a fresh crop from the stubbles or suckers of the plant crop without replanting. It is also referred to as stubble cropping, re-harvesting. Sugarcane is cultivated by this method.

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The Indian Institute of Oilseeds Research was established in 1977. It is situated in Hyderabad, Telangana. It functions under the Indian Council of Agricultural Research. The institute focuses on research and development related to nine annual oilseed crops. Current director is Dr. Sunil Archak. The main campus is located at Rajendranagar in Hyderabad.

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The livestock sector is a major driver of India’s economy, contributing approximately 5.5% to 5.73% of the total National Gross Value Added (GVA) as of 2023-24. Within the agriculture and allied sectors, animal husbandry’s contribution is significant, accounting for over 30% of the Agricultural GVA and driving rural income growth.