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Indian Economy

Indian Economy - Important Points


1.

Which of the following is a key feature of the Indian economy?

A. High per capita income

B. Strong manufacturing sector

C. High rate of economic growth

D. Low level of income inequality

Discuss Work Space

Answer: option c

Explanation:

India has been one of the fastest growing major economies in the world in recent years, with an average annual growth rate of around 7%


2. What is the Human Development Index (HDI) used for?

A. To measure economic growth

B. To measure poverty levels

C. To measure overall human well-being

D. To measure environmental sustainability

Discuss Work Space

Answer: option c

Explanation:

The HDI is a composite index that takes into account a country's level of education, life expectancy, and per capita income to measure overall human development and well-being.

3. Which of the following is a key objective of the National Food Security Bill?

A. To promote sustainable agriculture practices

B. To provide food security to all citizens

C. To reduce food waste and spoilage

D. To promote exports of agricultural products

Discuss Work Space

Answer: option b

Explanation:

The National Food Security Bill was passed in 2013 with the aim of providing subsidized food grains to around two-thirds of the Indian population, including those living below the poverty line.

4. What is the role of the Finance Commission in Fiscal Federalism?

A. To allocate resources between the central and state governments

B. To regulate the banking sector

C. To promote foreign investment

D. To regulate the stock market

Discuss Work Space

Answer: option b

Explanation:

The Finance Commission is a constitutional body in India that is responsible for allocating resources between the central and state governments, with the aim of promoting fiscal federalism and ensuring a fair distribution of

5. Which of the following is NOT a pillar of sustainable development?

A. Economic growth

B. Social development

C. Environmental protection

D. Political stability

Discuss Work Space

Answer: option d

Explanation:

The three pillars of sustainable development are economic growth, social development, and environmental protection.


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