Indian Economy MCQs

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The Reserve Bank of India manages the rupee’s exchange rate against a basket of foreign currencies since 1975. Before 1975, the rupee was pegged to the British Pound Sterling. The currency basket includes the US Dollar, Euro, Japanese Yen, and British Pound. India shifted from single-currency pegs to mitigate external shocks and improve stability.

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The quaternary sector consists of intellectual activities often associated with technological innovation. It is sometimes called the knowledge economy.

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Wheat production in India increased significantly after the Green Revolution began in 1965-66. The annual wheat output rose from 11 million tonnes in 1966-67 to over 95 million tonnes in 2013-14. Yield per hectare went from about 0.8 tonnes in 1948 to 4.7 tonnes by the late 1970s. The Green Revolution introduced high-yield varieties and expanded irrigation.

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Sudan produced approximately 1.37 million tonnes of sesame seeds in 2025. Major sesame producing regions in Sudan include the Nile and Blue Nile areas. Sudan surpassed India and Myanmar in annual sesame seed production. FAO and other global agricultural databases confirm Sudan as the top sesame producing country as of 2025.

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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.

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Madhya Pradesh has the largest forest cover by area in India, totaling 77,073 sq km, as per India State of Forest Report 2023. Madhya Pradesh is located in central India and constitutes about 25.11% of its total geographical area as forest cover. No other Indian state has a higher absolute forest area.

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The forest cover of India includes all patches of land with a tree canopy density of more than 10% and more than 1 hectare in area, irrespective of land use, ownership and species of trees.

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The first mega food park in the country is Srini mega food park at Chittoor in Andhra Pradesh. It was established in 2012.

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ATMA was launched in 1998 under the National Agricultural Technology Project. It operates at the district level as an autonomous agency. Its objective includes pilot testing and implementing new institutional arrangements for agricultural technology dissemination. The District Collector or equivalent official chairs the ATMA Governing Board. ATMA integrates extension activities of governmental and non-governmental bodies. It does not function at the state level or use PSUs for farmer organization.

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The textile industry in India directly employs around 45 million people and over 100 million in allied sectors as of 2023. It is the largest manufacturing employer in the country. The Information Technology sector employs around 5 million people. Petroleum and iron and steel industries employ fewer workers compared to textiles.