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Indian Economy MCQ Questions and answers for practice | GK

Learn and practice General Knowledge questions and answers on Indian Economy with very easy and understandable explanations. GK questions are very helpful different type of competitive exams. Page-7 section-1

Each section contains 100 MCQs on Indian Economy .
61
In India, the state which has the largest forest cover is:
Discuss
Answer & Solution
Answer: Option A
Solution:
In India, the state which has the largest forest cover is Madhya Pradesh.
62
The Indian state which was the first to release state level Human Development Report in 1995 was:
Discuss
Answer & Solution
Answer: Option A
Solution:
The Indian state which was the first to release state level Human Development Report in 1995 was Madhya Pradesh.
63
With the objective of opening the insurance sector for private participation the Insurance Regulatory and Development Authority Act (IRDA) was passed in:
Discuss
Answer & Solution
Answer: Option B
Solution:
With the objective of opening the insurance sector for private participation the Insurance Regulatory and Development Authority Act (IRDA) was passed in the year 1999.
64
The share of road transport in total transportation of the country is:
Discuss
Answer & Solution
Answer: Option D
Solution:
The share of road transport in total transportation of the country is 80%.
65
Project ‘Sankalp’ is associated with the elimination of:
Discuss
Answer & Solution
Answer: Option B
Solution:
Project ‘Sankalp’ is associated with the elimination of AIDS/HIV.
66
A proportion of the total deposits and reserves of the commercial banks that is to be kept with the Central Bank (RBI) on liquid form as a measure of control of RBI over the Commercial Banks is known as:
Discuss
Answer & Solution
Answer: Option C
Solution:
A proportion of the total deposits and reserves of the commercial banks that is to be kept with the Central Bank (RBI) on liquid form as a measure of control of RBI over the Commercial Banks is known as Cash Reserve Ratio (CRR).
67
Inflation is measured in India on the basis of which ‘Index’?
Discuss
Answer & Solution
Answer: Option A
Solution:
In India, inflation is primarily measured using the Wholesale Price Index (WPI).

WPI tracks the price changes of goods at the wholesale level, before they reach the consumer.

The index is calculated by considering the weighted average price of a basket of goods, including manufactured products, primary articles, and fuel & power.

Although the Consumer Price Index (CPI) is also used for certain economic assessments, WPI remains the key indicator for measuring inflation in India at the macroeconomic level.
68
In India, the second largest provider of employment after agriculture is:
Discuss
Answer & Solution
Answer: Option A
Solution:
In India, the second largest provider of employment after agriculture is Textile Sector.
69
In the World, in the production of cotton, India ranks:
Discuss
Answer & Solution
Answer: Option A
Solution:
In the World, in the production of cotton, India ranks second.
70
The Foreign Exchange Management Act(FEMA) was passed in:
Discuss
Answer & Solution
Answer: Option C
Solution:
The Foreign Exchange Management Act(FEMA) was passed in the year 1999.