Indian Economy MCQs
Indian Economy Multiple Choice Questions (MCQs) for State and UPSC Civil Services Examinations. Objective Questions on Indian Economy for competitive examinations.
31. Which among the following is a consumer industry?
[A] Copper
[B] Paper
[C] Iron
[D] Aluminium
Show Answer
Correct Answer: B [Paper]
Notes:
The Industry which produces goods for the consumption of consumers. Ex: sugar, paper, electronics, soap, etc.
32. What is India’s rank in commercial vehicle manufacturing in the world?
Show Answer
Correct Answer: C [7]
Notes:
India became the seventh largest manufacturer of commercial vehicles. India is 5th largest auto market in the world with a demand of 3.81 million units.
33. Which item among the following is not removed from the IIP calculation?
[A] Tooth Brush
[B] Calculators
[C] Mobile phones
[D] Pens
Show Answer
Correct Answer: C [Mobile phones]
Notes:
The change in IIP has been made to incorporate the needs of the changing markets in the IIP calculation. There are certain items that are removed like Chewing tobacco, Tooth Brush, Calculators, Fans, Watches, and Pens.
34. What is the Index of Industrial Production(IIP) for the year 2019-20?
[A] 150.3
[B] 129.2
[C] 111.2
[D] 90.4
Show Answer
Correct Answer: B [129.2]
Notes:
India’s Index of Industrial Production (IIP) for 2019-20 stood at 129.2. IIP measures the growth of the industry.
35. What is the main objective of SFURTI scheme?
[A] Regeneration of traditional industries
[B] Promote electronics startups
[C] Promote Robotics
[D] None of the above
Show Answer
Correct Answer: A [Regeneration of traditional industries]
Notes:
Scheme of Fund for Regeneration of Traditional Industries(SFURTI) is a scheme of fund for Regeneration of traditional industries. It is for the promotion of MSME.
36. What is geopolymer cement made up of?
[A] aluminium and silicon
[B] aluminium and raylon
[C] aluminium and fly ash
[D] aluminium and potash
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Correct Answer: A [aluminium and silicon]
Notes:
Geopolymer cement is made from aluminum and silicon. The sources of aluminium in nature are not present as carbonates so do not release vast quantities of CO2.
37. How many refineries are there in India?
Show Answer
Correct Answer: B [23]
Notes:
India has 23 refineries—18 under public sector, 3 under private sector and 2 in a joint venture. An oil refinery or petroleum refinery is an industrial process plant where crude oil is transformed and refined into more useful products such as petroleum.
38. What is India’s share in global vaccines market?
[A] 50%
[B] 62%
[C] 74%
[D] 47%
Show Answer
Correct Answer: B [62%]
Notes:
India supplies 62% of the global demand for vaccines. India ranks 3rd worldwide for production by volume and 10th by value.
39. What is the share of IT sector in the Indian service export?
[A] 50%
[B] 60%
[C] 45%
[D] 30%
Show Answer
Correct Answer: C [45%]
Notes:
The share of IT sector in the Indian service export is 45%. The service sector contributes about 8% to Indian GDP.
40. What is the growth rate experienced by the animation industry of India in the year 2019-20?
[A] 12.4%
[B] 29.4%
[C] 16.4%
[D] 22.4%
Show Answer
Correct Answer: C [16.4%]
Notes:
The Animation Industry of India is growing at a very fast pace. It is experiencing a very high growth rate of 16.4%. There has been a growth of 31% in the VFX industry.
