Indian Economy MCQs

Notes:
First statement is correct. Adopt a Heritage project is a key initiative of Ministry of Tourism in close collaboration with Ministry of Culture and Archaeological Survey of India (ASI). Second statement is correct. The project aims to entrust heritage sites to the public sector and private sector companies and individuals for the development of tourist amenities. The private, public or individual entities holding the responsibility for development of a tourist site are treated as “Monument Mitras”. The basic and advanced amenities of the tourist destinations are being provided by them. Also, they hold the responsibility to look after the operations and the maintenance of the amenities.

Notes:
The Cash Reserve Ratio is the amount of funds that the banks are bound to keep with Reserve bank of India as a portion of their Net Demand and Time Liabilities (NDTL).

Notes:
“Which state in India produces the most silk?
Karnataka
Assam
Kerala
Andhra Pradesh

Correct option: 1

Explanation: Karnataka remains the largest producer of silk in India, with raw silk production reaching 13,278 tonnes in 2024-25, up from 12,463 tonnes in 2023-24 and 11,823 tonnes in 2022-23, ensuring its national dominance ahead of Andhra Pradesh and Assam. This accounts for approximately 32-45% of India’s total raw silk (around 30,000-33,000 tonnes annually), primarily mulberry silk from districts like Mandya (3,540 tonnes), Kolar, Chikkaballapur, and Ramanagara. Recent challenges like pests have caused some output drops, but Karnataka’s lead persists per Central Silk Board and Ministry of Textiles data.”

Notes:
Public Relations Issues Management is a PR strategy that addresses emerging issues and crises. It guides company communication and action during critical situations. This approach maintains brand reputation and public trust by controlling information and providing timely responses during incidents. The process follows established crisis management frameworks used by organizations worldwide.

Notes:
Solar mini-grids use solar photovoltaic panels to generate electricity. They are classified as non-conventional energy sources in India. Distributed renewable energy initiatives have installed solar mini-grids in rural areas under government schemes. Solar energy is renewable and does not emit greenhouse gases. By June 2024, multiple villages in India have been electrified using solar mini-grids. Solar power is not traditional in Indian rural energy use.

Notes:
The Uruguay Round of negotiations ran from 1986 to 1994 under GATT. Its Agreement on Agriculture targeted market access, domestic support, and export subsidies as three core areas for agricultural reform. The round resulted in the Uruguay Round Agreement on Agriculture (URAA), which mandated reductions in these barriers. The Agreement was signed in Marrakesh in April 1994, leading to the establishment of the WTO in 1995.

Notes:
Acute diarrhoea and cholera result from bacteria or viruses in contaminated water. Schistosomiasis is a parasitic disease transmitted through freshwater infested with larval forms released by snails. The World Health Organization lists these as common waterborne diseases in developing regions with poor water, sanitation, and hygiene services. Outbreaks occur frequently in areas lacking adequate safe water supply and sanitation infrastructure.

Notes:
The GDP deflator measures price inflation in an economy.It measures the changes in prices for all of the goods and services produced in an economy. The GDP deflator is calculated by dividing nominal GDP by real GDP and multiplying by 100.

Notes:
Arvind Panagariya is an Indian-American economist and a professor of economics at Columbia University, who served as the first vice-chairman of the think-tank Niti Aayog between January 2015 and August 2017.

Notes:
India adopted five-year plans from 1950 after independence. The first five-year plan was based on the Harrod-Domar model which is based on steady-state growth.