Indian Economy MCQs
Indian Economy Multiple Choice Questions (MCQs) for SSC, State and all One Day Examinations of India. Objective Questions on Indian Economy for competitive examinations.
21. Who is called the father of direct taxation reforms in India?
[A] Dr. C.Rangarajan
[B] Dr. Shankar Acharya
[C] Dr. Raja Chelliah
[D] Dr. V.K.R.V.Rao
Show Answer
Correct Answer: C [Dr. Raja Chelliah]
Notes:
Dr. Chelliah was one of the top consultants in public finance anywhere in the world. After He served in an advisory capacity with the government of Papa New Guinea and a number of other countries, Chelliah became the father of the direct taxation reforms in early India. He was honored with the Padma Vibushan in 2007 and died in 2009.
22. Which of the following is a limitation of free market?
[A] Low taxes
[B] Maximum Consumer choices
[C] Limited trade
[D] Uneven distribution of resources
Show Answer
Correct Answer: D [Uneven distribution of resources]
Notes:
In a market economy, the role of govt is very limited and cannot interfere with the private property even if it is concentrated in a few hands. This increase in private property leads to uneven wealth distribution. This also leads to Monopoly in the market.
23. Genetic Engineering Appraisal Committee works under which ministry?
[A] Ministry of Agriculture
[B] Ministry of environment forst and climate change
[C] Ministry of Science and Technology
[D] Ministry of Rural developoment
Show Answer
Correct Answer: B [Ministry of environment forst and climate change]
Notes:
The Genetic Engineering appraisal committee is under the Ministry of environment forest and climate change. Its function is to appraise proposals relating to the release of genetically engineered organisms and products into the environment including experimental field trials.
24. Which among the following is an oilseed?
1. Mustard
2.Soybean
3. Flaxseed
4. Peanut
5. Wheat Bran
Choose the correct option from the codes given below:
[A] 1,2 and 3 only
[B] 1,2,3 and 5 only
[C] 1,2,3,4 and 5
[D] 1,2,3 and 4 only
Show Answer
Correct Answer: D [1,2,3 and 4 only]
Notes:
The seeds which are used for producing oil are soil seeds. Some of them are Mustard, Soybean, Flaxseed, Peanut are some of them. Wheat Bran is not used for oil production.
25. Which country is the world’s largest importer of edible oil?
[A] China
[B] India
[C] USA
[D] Braizl
Show Answer
Correct Answer: B [India]
Notes:
India is the world largest importer of Edible oils. India imports most from Indonesia and Malaysia is the second largest supplier to India.
26. Which country introduced Tobacco in India?
[A] Portugese
[B] French
[C] British
[D] Dutch
Show Answer
Correct Answer: A [Portugese]
Notes:
Tobacco is introduced by Portuguese in India. Indian tobacco, introduced by the Portuguese in the 17th century, is appreciated worldwide for its rich, full-bodied flavor and smoothness. India has an impressive and progressive profile in the global tobacco industry, and it is an important commercial crop grown here.
27. What is the percentage of processed food industry in the Indin food market?
[A] 32%
[B] 10%
[C] 50%
[D] 46%
Show Answer
Correct Answer: A [32%]
Notes:
The Indian food processing industry accounts for 32 percent of the country’s total food market, one of the largest industries in India and is ranked fifth in terms of production, consumption, export and expected growth.
28. In which state India’s first mega food park was established?
[A] Andhra Pradesh
[B] Telangana
[C] Maharastra
[D] Gujarat
Show Answer
Correct Answer: A [Andhra Pradesh]
Notes:
The first mega food park in the country is Srini mega food park at Chittoor in Andhra Pradesh. It was established in 2012.
29. The grey revolution in India is related to?
[A] Fertilizer production
[B] Egg production
[C] Fish production
[D] None of the above
Show Answer
Correct Answer: A [Fertilizer production]
Notes:
The fertilizer production is related to Grey revolution. The egg production is related to silver revolution. Fish production is related to blue revolution.
30. Which among the following is not used to make Portland Cement (PC)?
[A] Calcareous Rocks
[B] Sand
[C] Argillaceous Rocks
[D] Argillocalcareous Rocks
Show Answer
Correct Answer: B [Sand]
Notes:
Sand is mixed with Cement to make concrete instead of making cement. Materials that we get from these 3 rocks are useful to make portland cement.
