Indian Economy MCQs

Notes:
According to the Economic Survey 2025-26, India’s services sector contributed 56.4% to Gross Value Added in FY25. Services exports reached USD 387.5 billion in FY25. The Survey reports that expanding digital infrastructure and high-speed connectivity is essential for supporting digitally delivered services. Government focus is on scaling infrastructure, with projected data center capacity of 8 GW by 2030. Digital enablement is highlighted as critical for sectoral growth.

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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.

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The SARFAESI Act allowed the creation of asset reconstruction companies (ARC) and allowed banks to sell their non-performing assets to ARCs.

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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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The various functions of SEBI are:
• To protect the interests of investors in securities market
• To promote the development of securities market
• To regulate the business in stock exchanges and any other securities markets.
• To register and regulate the working of stock brokers, sub-brokers, share transfer agents, bankers to an issue, trustees of trust deeds, registrars to an issue, merchant, bankers, underwriters, portfolio managers, investment advisers.

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Gross National Income is the aggregate value of the gross balances of the primary income of all resident institutional units.

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An organized sector is a sector, employment terms are fixed and regular, and the employees get assured work and social security. This sector is registered with the government and a number of acts apply to the enterprises. Schools and hospitals are covered in the organized sector. Workers in the organized sector enjoy the security of employment. They are expected to work only a fixed number of hours. If they work more, they have to be paid overtime by the employer.

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The service sector in India recorded significant double-digit growth in segments like financial services (10.2%) during FY 2023-24. The service sector contributes about 54.4% to India’s GDP, the highest among all sectors, and consistently drives national economic growth.

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Declaration of droughts is done by the States. Meteorological drought and agricultural drought are 2 kinds.
Meteorological drought is when rainfall is 10% or more, less than normal. Agricultural drought is when 20% or more area of a state is facing drought.

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Project CHAMAN was launched in September 2014. It uses geoinformatics for assessment of horticulture crops. The project surveys seven main crops: potato, onion, tomato, chilli, mango, banana, and citrus. The survey began in 12 states and expanded to 15 states in its second phase. Project CHAMAN is distinct from FASAL, which estimates field crops such as rice and wheat.