Indian Economy MCQs

Notes:
Amartya Sen, noted Nobel Laureate, has developed an index known as Sen Index to estimate the poverty.
The Global Multidimensional Poverty Index (MPI) was developed in 2010 by the Oxford Poverty & Human Development Initiative (OPHI) and the United Nations Development Programme and uses health, education, and standard of living indicators to determine the degree of poverty experienced by a population.
The poverty gap index is a measure of the intensity of poverty.

Notes:
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.

Notes:
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.

Notes:
The Fifth Five-Year Plan from (1974-78) laid stress on employment, poverty alleviation (Garibi Hatao), and justice. It is the first time a plan had emphasis on poverty. The plan also focused on self-reliance in agricultural production and defense. In 1978 the newly elected Morarji Desai government rejected the plan.

Notes:
The Ministry of Agriculture & Farmers Welfare released third advance estimates on 27 November 2025 for 2024–25. The total area under horticultural crops in India is 29.488 million hectares for 2024–25. The area was 29.086 million hectares in 2023–24. Horticulture includes fruits, vegetables, and plantation crops. These estimates are part of annual agriculture data collection at the national level.

Notes:
World Fisheries Day is observed annually on November 21. The first World Fisheries Day was celebrated in 1997. It is recognized by fishing communities and organizations worldwide. The day was initiated by the World Forum of Fish Harvesters & Fish Workers. Events and awareness programs are conducted globally on this date each year.

Notes:
Beekeeping cannot be restricted to honey only. There are variety of products such as royal jelly, bee wax, pollen, propolis, and bee venom are obtained from beekeeping and are also marketable at a good price and can help the farmers to enhance their revenue.

Notes:
The Second Green Revolution in India emphasizes technological advancements such as biotechnology and GM crops, expansion and diversification in horticulture, and improvements in dairy cooperatives and supply chain efficiency. All three sectors form the core pillars of this movement, driving inclusive, sustainable agricultural growth across the country.

Notes:
Under Pradhan Mantri Mudra Yojana, the Kishor loan category covers loans from Rs. 50,001 to Rs. 5 lakh. Shishu category is up to Rs. 50,000. Tarun category is from Rs. 5 lakh to Rs. 10 lakh. Tarun Plus can go up to Rs. 20 lakh for existing borrowers with good repayment record. The maximum for Kishor remains Rs. 5 lakh.

Notes:
The Indian chemical industry contributed about 7% to India’s GDP in 2024. The industry has a market size of around US$ 220–250 billion and is ranked sixth in the world and third in Asia by output. The industry supports over 2 million people and covers more than 80,000 commercial products.