Indian Economy MCQs

Notes:
The Indian chemical industry contributed about 7% to India’s GDP in 2024. The industry has a market size of around US$ 220–250 billion and is ranked sixth in the world and third in Asia by output. The industry supports over 2 million people and covers more than 80,000 commercial products.

Notes:
The Pharmaceuticals & Medical Devices Bureau of India (PMBI) implements Pradhan Mantri Bhartiya Janaushadhi Pariyojana. PMBI was established under the Department of Pharmaceuticals, Government of India. PMBI is registered under the Societies Registration Act. PMBI coordinates procurement, supply, and marketing of quality generic medicines through Janaushadhi Kendras.

Notes:
Sugarcane is one of India’s major commercial crops, but its cultivated area varies from year to year depending on rainfall, prices, and mill demand. Broadly, the area under sugarcane in India is around 5 million hectares. This makes option 3 the best approximation among the given choices. Uttar Pradesh, Maharashtra, Karnataka, and Tamil Nadu are among the important sugarcane-growing states, and the crop remains a key source of raw material for the sugar industry.

Notes:
The United States is the world’s largest box office market by revenue as of 2025. Hollywood dominates global box office receipts. Major American studios include Universal Pictures, Warner Bros, and Walt Disney Studios. The Motion Picture Association of America was founded in 1922. U.S. box office revenue in 2023 reached approximately $9 billion. The highest-grossing films are often produced and distributed from the United States.

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A consumer cooperative store is an organisation owned, managed and controlled by consumers. The objective of such stores is to reduce the number of middlemen who increase the cost of produce, and thereby provide service to the members.

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Asia has the largest share of the world’s railway route length. It accounts for the biggest proportion of total global railway network length among the continents listed, exceeding Europe and North America. This makes Asia the correct choice when asked which continent has the largest railway route-length share worldwide.

Notes:
On January 30, 2024, the Ministry of Jal Shakti reported 73.76% rural households in India had tap water supply. As of August 2019, only 16.8% rural households had tap water connections. The Jal Jeevan Mission was launched in August 2019 to provide functional household tap connections to rural India. By 2023-24, 2.58 Crore additional rural households gained tap water access.

Notes:
As per Ministry of Food Processing Industries guidelines for 2024-25, the components under PMKSY include Integrated Cold Chain and Value Addition Infrastructure, and Agro-processing Clusters, among others. The Mega Food Parks component was discontinued from 1st April 2021 and is not included under the scheme in 2024-25.

Notes:
IndiaFirst Life Insurance Company Ltd inaugurated its IFSC Insurance Office in Gujarat International Finance Tec-City (GIFT City) on August 27, 2024. IndiaFirst Life is headquartered in Mumbai, Maharashtra. Its operations in GIFT City allow provision of foreign currency-denominated life insurance products for international customers. GIFT City is located in Gandhinagar, Gujarat, and functions as India’s first operational smart city and international financial services centre.

Notes:
Yellow and white color is for National highways. Green and white are for state highways. Black and white are for city highways.