Indian Economy MCQs

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The United States built the world’s first nuclear reactor, Chicago Pile-1, achieving criticality on December 2, 1942 in Chicago under the Manhattan Project. The reactor was designed by Enrico Fermi and operated at the University of Chicago. The USSR constructed subsequent reactors, including the Obninsk Nuclear Power Plant in 1954, but Chicago Pile-1 was the first reactor ever brought to criticality.

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Kazakhstan produced 21,227 tonnes of uranium in 2024. Kazakhstan accounted for 39% of global uranium mine output that year. The country has led global uranium production since 2009. Major uranium deposits in Kazakhstan include Inkai, South Inkai, and Central Mynkuduk. Kazatomprom, Kazakhstan’s national company, controls most uranium mining operations.

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The e-SHRAM portal was launched on 26 August 2021 by the Ministry of Labour and Employment. The portal is aimed at creating the first national database of unorganised workers, including migrant, construction, gig, and platform workers. Registrants receive a Universal Account Number and e-SHRAM card. Integration with the PM Gati Shakti Portal and e-SHRAM One-Stop-Solution was added in 2024. Over 19,000 registrations were processed via UMANG as of December 2024.

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Inflation reduces the real value of fixed-rate loan repayments. Debtors with fixed-rate loans repay debts using money that has lost purchasing power due to inflation. This decreases the actual burden of the debt for borrowers. Creditors, in contrast, receive payments with less real value. This effect primarily applies to fixed-rate, not variable-rate, loans.

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Ude Desh Ka Aam Nagrik (UDAN) is a flagship regional civil aviation scheme to attract more airlines and helicopter operators to participate in the Regional Connectivity Scheme (RCS). It aims to provide connectivity to the unserved and under-served airports of the country through revival of existing airstrips and airports.

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When the balance of payments (BOP) of a country is in equilibrium, the surplus or deficit is eliminated from the BOP. When the BOP of a country is in equilibrium, the demand for domestic currency is equal to its supply. The demand and supply situation is thus neither favourable nor unfavourable.

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Inflation primarily occurs when the money supply grows faster than real output. This concept is explained by monetary theory and is the basis for central banks managing inflation via money supply controls. When the amount of currency in circulation increases, demand outpaces supply, causing prices to rise. Central banks such as the Reserve Bank of India monitor and regulate the money supply to control inflation levels.

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Tertiary industry is the segment of the economy that provides services to its consumers. It covers a wide range of activities that are service-based and provide non-tangible value to customers such as the provision of trading, insurance, banking, etc. The other sectors are the secondary sector (manufacturing), and the primary sector (agriculture).

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In 2025, India ranks third in annual automobile production value, following the United States and China. India produced 25.9 million automotive units in 2023. The Indian automobile industry was valued at US$250 billion in 2025. The sector contributed 7.1% to India’s GDP and 8% to exports as of 2022. India surpassed Germany and Japan in production volume by 2023.

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Olefins are unsaturated hydrocarbons with at least one carbon–carbon double bond. Ethylene, propylene, and butadiene all fit this definition and are primary petrochemical building blocks. They are widely used in the production of plastics, synthetic rubber, and fibers. Hence, all three substances listed are classified as olefins in the petrochemical industry.