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. The local system of canal irrigation found in Parts of Himachal Pradesh over four hundred years ago is known as?
[A] Baori
[B] Khadin
[C] Jhalara
[D] Kuhl
Show Answer
Correct Answer: D [Kuhl]
Notes:
Kuhl is a type of traditional irrigation system in Himachal Pradesh. They are surface channels diverting water from natural flowing streams (khuds). A typical community of kuhls services 6 to 30 farmers, irrigating an area of about 20 ha.
22. In which year was the price stabilization fund introduced?
[A] 2014
[B] 2019
[C] 2013
[D] 2012
Show Answer
Correct Answer: A [2014]
Notes:
The Price Stabilization Fund (PSF) was set up in 2014-15 under the Department of Agriculture, Cooperation & Famers Welfare (DAC&FW) to help regulate the price volatility of important agri-horticultural commodities like onion, potatoes and pulses were also added subsequently.
23. What percentage of the working class is employed in the service sector?
[A] 51%
[B] 65%
[C] 78%
[D] 88%
Show Answer
Correct Answer: C [78%]
Notes:
According to recent labor statistics, 78% of the working-class population is employed in the service sector. The service sector includes occupations such as home health aides, janitors, warehouse workers, bus drivers, retail staff, and food service employees. The remaining workforce is distributed among construction and manufacturing sectors with lower percentages.
24. Which is the most used cement globally?
[A] White cement
[B] Specialized cement
[C] portland pozzolana cement
[D] Portland cement
Show Answer
Correct Answer: D [Portland cement]
Notes:
Portland cement is the most used cement globally. It accounts for about two-thirds of exported global cement supplies.
25. What percentage of US generic drug demand is supplied by India?
[A] Approximately 20%
[B] Approximately 30%
[C] Approximately 40%
[D] Approximately 50%
Show Answer
Correct Answer: C [Approximately 40%]
Notes:
India supplies 40% of the United States’ generic drug demand. India is recognized as the world’s largest supplier of generic medicines and exports pharmaceuticals to over 200 countries. In 2024, India’s domestic generic drug market was valued at USD 28.06 billion. India manufactures around 60,000 generic brands across 60 therapeutic categories.
26. Which among the following is a steel plant under SAIL?
1. Rourkela
2. Bhilai
3. Salem
4. Durgapur
Choose the correct option from the choices given below:
[A] 1,2 and 4
[B] 1 and 4
[C] 1,3 and 4
[D] 1,2,3 and 4
Show Answer
Correct Answer: D [1,2,3 and 4]
Notes:
SAIL operates and owns 5 integrated steel plants at Bhilai, Rourkela, Durgapur, Bokaro and Burnpur(Asansol) and 3 special steel plants at Salem, Durgapur and Bhadravathi.
27. Where is the headquarters of Jute corporation of India located?
[A] Delhi
[B] Mumbai
[C] Kolkata
[D] Chennai
Show Answer
Correct Answer: C [Kolkata]
Notes:
The Jute Corporation of India Ltd. (JCI) is based in Kolkata, is an agency of the government of India that assists jute cultivators in states where this crop is grown, providing minimum price support.
28. Which industry received federal child labor protection during the New Deal era?
[A] Textile Industry
[B] Sugar Industry
[C] Cotton Industry
[D] Paper Industry
Show Answer
Correct Answer: B [Sugar Industry]
Notes:
The Sugar Industry was regulated by the Jones-Costigan Act of 1934 and the Sugar Act of 1937. These laws restricted federal subsidies to sugar beet farmers who used child labor. The National Child Labor Committee investigated child labor in the sugar industry starting in 1905. Federal laws during the New Deal era specifically targeted child labor practices in sugar cultivation.
29. What is the estimated value of India’s medical tourism market in 2026?
[A] USD 12.32 billion
[B] USD 20.4 billion
[C] USD 23.8 billion
[D] USD 72.1 billion
Show Answer
Correct Answer: A [USD 12.32 billion]
Notes:
The Indian medical tourism market is projected at USD 12.32 billion for 2026. In 2025, the market was valued at USD 23.8 billion. Growth estimates indicate a CAGR of approximately 12.42% to 13.09%. By 2031, the value is projected at USD 22.11 billion. Major contributing factors include affordable services and advanced healthcare infrastructure.
30. Which country has the largest retail space in the world?
[A] USA
[B] China
[C] Iran
[D] India
Show Answer
Correct Answer: C [Iran]
Notes:
Iran Mall in Tehran has a total area of 1.95 million m², making it the largest retail space globally as of 2026. The mall opened in 2018 and expanded further after 2020. The South China Mall in Dongguan, China, is the second largest with approximately 1.82 million m². No other single retail complex surpasses Iran Mall in total area.
