Test: Characteristics of Indian Economy - UPSC MCQ

The agricultural sector is considered the backbone of the Indian economy as it employs the majority of the population and contributes significantly to the country's GDP.

The main objective of India's Five-Year Plans is to achieve all-round development by focusing on various sectors like agriculture, industry, infrastructure, and social welfare.

GST is the largest source of revenue for the Indian government since its implementation, as it subsumed various indirect taxes and streamlined the taxation system.

In a mixed economy, there is coexistence of both public sector enterprises, owned by the government, and private sector enterprises, owned by individuals or corporations.

The Planning Commission was replaced by NITI Aayog (National Institution for Transforming India) in 2015 as the premier policy think tank of the Government of India.

All the given factors (raw materials, market demand, skilled labor) are responsible for the localization of industries in India.

The term "Hindu rate of growth" was coined to describe the sluggish economic growth experienced by India during the period of British rule.

Uttar Pradesh is known as the "Sugar Bowl of India" due to its large-scale production of sugarcane and sugar mills.

The Green Revolution in India was primarily aimed at increasing wheat production to achieve food security.

The agricultural sector is the largest employer in India, providing livelihood to a significant portion of the population.

India's demographic dividend refers to the economic advantage that arises from having a large and youthful workforce, which can potentially drive economic growth.

The "Make in India" campaign was launched to encourage domestic manufacturing and industrial growth by inviting both domestic and foreign investments.

Agriculture and Allied Activities are part of the primary sector, not the tertiary sector.

CPI measures the average changes in prices of goods and services purchased by consumers, reflecting inflation or deflation trends.

NREGA guarantees 100 days of wage employment to rural households in India.

The correct sequence of the Indian economic planning process is Formulation, Evaluation, and then Implementation.

Fiscal deficit represents the difference between the total revenue (receipts) and total expenditure of the government.

The National Food Security Mission aims to increase food grain production in targeted districts to achieve food security in India.

While population size can indirectly impact foreign trade, it is not considered a direct factor affecting India's foreign trade.

The service sector is the largest contributor to India's GDP, accounting for a significant share of economic output.