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Questions and Answers
Which sector is the largest contributor to India's GDP?
What is the GST rate applied to essential food items in India?
Which state in India is renowned for its high silk production?
What is the main goal of the Pradhan Mantri Jan Dhan Yojana (PMJDY)?
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Which city is referred to as the 'Silicon Valley of India'?
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The 'Make in India' initiative primarily focuses on which aspect?
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What does SEBI stand for?
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Which Indian bank holds the title of being the largest public sector bank by market capitalization?
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What is the primary objective of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)?
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Which Indian state is predominantly recognized for its tea production?
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What is the current repo rate set by the Reserve Bank of India (RBI)?
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Which organization is tasked with regulating and supervising housing finance companies in India?
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In terms of economic sectors, which of the following is considered the primary sector in India?
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Which state in India is known for its significant sugarcane production?
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Which Indian bank is often confused with being the largest public sector bank but is not?
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Study Notes
Indian Economy Overview
- Services sector is the largest contributor to India's GDP.
- Essential food items are taxed at a GST rate of 0%.
- Karnataka is the leading state in silk production.
Government Schemes and Initiatives
- Pradhan Mantri Jan Dhan Yojana (PMJDY) aims for financial inclusion by providing bank accounts to every household.
- 'Make in India' initiative focuses on boosting domestic manufacturing and job creation.
Key Economic Activities
- Jharkhand is the largest producer of coal in India.
- Assam is renowned for its tea production, establishing it as a key agricultural contributor.
Regulatory Bodies and Financial Institutions
- SEBI stands for Securities and Exchange Board of India, which regulates securities markets.
- State Bank of India (SBI) is the oldest and largest public sector bank, recognized for its significant market capitalization.
Employment and Rural Development
- Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is designed to create employment opportunities in rural areas.
Current Economic Indicators
- The Reserve Bank of India (RBI) has set the current repo rate at 4.00%.
- National Housing Bank (NHB) is responsible for the regulation and supervision of housing finance companies.
Agricultural Contributions
- Uttar Pradesh is noted for its high production of sugarcane.
- Agriculture remains the primary sector in the Indian economy.
Additional Facts
- Bengaluru is dubbed the 'Silicon Valley of India', highlighting its significance in the tech sector.
- The main goal of initiatives like "Make in India" is to attract foreign direct investment and foster local production.
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Description
Test your knowledge of the Indian economy with this quiz featuring 20 multiple-choice questions. Focused on current economic trends, GST rates, and sector contributions to GDP, it's ideal for competitive exam preparation. Challenge yourself and see how well you understand India's economic landscape in 2024.
