Indian Economy MCQs

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Kaushik Basu created Dui-doku, a competitive two-player version of Sudoku. He is an Indian economist who previously worked as a chief economic advisor to Manmohan Singh govt.

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Gujarat’s coastline measures 2,340.62 km according to revised Indian government figures released in 2023. This makes Gujarat the Indian state with the longest coastline. These measurements utilize advanced satellite imagery and updated calculation methods. Earlier estimates listed the state’s coastline as 1,600 km, but the new data reflects more comprehensive inclusion of coastal features and complex boundaries.

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Balaghat district in Madhya Pradesh has the largest forest area in the state. According to the India State of Forest Report 2021, Balaghat district has a forest cover of more than 4,000 square kilometers. Balaghat is known for dense forests and significant teak plantations. The district is a major contributor to Madhya Pradesh’s overall forest resources and biodiversity zones.

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The Miyawaki method was developed by Japanese botanist Akira Miyawaki. This method involves planting 20 to 30 native species in close proximity at high density. Forests grown using this method mature in 20 to 30 years. Miyawaki forests become self-sustaining within 2 to 3 years and require minimal maintenance after establishment. The technique increases biodiversity and carbon sequestration in urban and degraded areas.

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Bombyx mori is the mulberry silkworm and is the main species reared for sericulture in India. It feeds on mulberry leaves, and mulberry silk accounts for the bulk of silk production in the country. Antheraea paphia and Philosamia synthia ricini are used for other types of silk, not the principal one.

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The Northeast region contributes about 18% of India’s total silk production. Assam produced 5,721 metric tonnes of silk in 2022-23. The region produces all four types of natural silk: Mulberry, Muga, Eri, and Oak Tasar. Northeast India is the only area in the country that produces Oak Tasar silk. Muga silk is found exclusively in Assam.

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Basic chemicals include petrochemicals, fertilizers, inorganic chemicals, and other industrial chemicals. Plastics are a product of the petrochemical industry. Adhesive sealant is considered a specialty chemical, not a basic chemical. Therefore, only plastics, fertilizers, and petrochemicals (options 2, 3, and 4) are basic chemicals.

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China surpassed Germany and Japan to become the world’s largest capital goods exporter. Chinese exports lead both in process plant and machinery and electrical equipment globally. As of 2023, China has the largest share in global capital goods exports by value. China’s export growth accelerated following its accession to the World Trade Organization in 2001. Major export destinations include the United States and European Union, with continuous annual increases in sector output.

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In India, 100% Foreign Direct Investment (FDI) is permitted under the automatic route in the gems and jewellery sector. This policy has been in place since 2016. The gems and jewellery industry in India includes gold, diamond, and precious metal jewellery. The sector contributes around 7% to India’s GDP. Foreign investors do not need prior government approval for such FDI.

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In 2023, China was the top exporter of imitation jewelry with exports valued at 935.97 million. In 2024, China maintained its lead with 1.17 billion in such exports. India accounted for 32.6% of global imitation jewelry exports in 2022. Italy exported 202 million and Hong Kong 432 million in 2023. China consistently leads in recent data.