Indian Economy Mixed Practice — MCQs with Answers (Set 30)

The correct answer is design and R&D for Indian brands. The 3% extra goes to Indian brands for design and R&D. The up-to-1.5% bonus is for domestic sourcing of components. Exports and new factories carry no such bonus. Memory hook: 3 for design, 1.5 for sourcing.

The correct answer is Rs 62,500 crore, over 5 years. The tenure is FY 2026-27 to FY 2030-31. Rs 40,995 crore, a 3-year term and Rs 1 lakh crore are wrong. Memory hook: Rs 62,500 crore, five years.

The correct answer is 15 July 2026. The Union Cabinet, chaired by the PM, approved MPMS on that date. 1 April 2026 and 1 January 2027 are not scheme dates. 31 March 2026 is when the old PLI-LSEM ended. Memory hook: approved mid-July, 15 July.

The correct answer is a hackathon for students and start-ups to design India-inspired toys. Toycathon began in 2021. It is not a subsidy, a safety audit or a GI drive. Memory hook: Toycathon is a toy hackathon.

The correct answer is More than doubled. Employment in Games and Toys (NIC 324) rose from 8,685 in 2018-19 to 17,693 in 2023-24. It did not fall, stay flat or triple. Memory hook: 8,685 to 17,693.

The correct answer is from 20% to 70%; a $152 million trade surplus. Duty went 20% to 60% in 2020 and 70% in 2023. India ran a surplus of US$ 152 million in 2025-26. The $213 million figure is the 2017-18 deficit. Memory hook: 20 to 70, deficit to surplus.

The correct answer is BIS certification for domestic and imported toys. The QCO was issued on 25 February 2020 and took effect on 1 January 2021. It is not an export licence, a GST registration rule or a GI mandate. Memory hook: QCO means BIS mark.

The correct answer is 2020. The National Action Plan for Toys (NAPT) came in 2020. It has 21 action points across 14 ministries. 2018 and 2021 are wrong years. 2023 is when duty rose to 70%. Memory hook: NAPT, 2020.

CCPA fined Chaayos (Sunshine Teahouse Pvt. Ltd.) ₹50,000, and directed it to reimburse collected charges and fix its billing software.

The Delhi High Court, in National Restaurant Association of India v. Union of India (28 March 2025), upheld CCPA’s Guidelines on Service Charge.

CCPA acted against 41 restaurants nationwide, based on complaints filed through the National Consumer Helpline.

The review covered Tobacco Board restructuring, Growers’ Welfare Fund enhancement, simplified registration, and AI-based grading.

The correct answer is self-taught, practical innovation without formal engineering education. Naidu left school in the third standard. He learned by taking machines apart. The other options describe state planning, tech transfer or co-operatives, none of which fits him. Memory hook: dropout, then Edison.

The correct answer is India’s first polytechnic college. Naidu helped set up the Arthur Hope Polytechnic in 1945. It is now the Government Polytechnic of Coimbatore. It was not an engineering degree college, an IIT or an agricultural college. Memory hook: Hope gave the name, Naidu gave the push.

The best answer is the option that pairs the electric works with the Rasant electric razor. Naidu and D Balasundaram Naidu developed an indigenous electric motor in 1937. The Rasant razor was his best-known invention. The other options pair a firm with the wrong invention. Memory hook: motor and razor, both Naidu.

The correct answer is Universal Motor Service (UMS). Naidu started a bus service between Pollachi and Palani in 1920. It grew into UMS. By 1933 he owned 280 buses. The other options are different firms. Memory hook: UMS means buses.

The correct answer is 1893. G.D. Naidu was born on 23 March 1893 in Kalangal, near Coimbatore. The other years are close but wrong. Memory hook: 18-93, born in the nineteenth century.

His fortune fell from roughly $22.6 billion to about $4.4 billion, as donated shares moved into the Foundation instead.

The best answer is giving away at least half their wealth during their lifetime. The Giving Pledge is a promise by the world’s wealthiest philanthropists to give the majority of their wealth to philanthropy. It is a moral promise, not a legal contract. Premji was the first Indian to sign, in 2013. The other options do not describe the Pledge. Memory hook: the Pledge means giving the majority, not waiting.

The correct answer is 2001. The Azim Premji Foundation was founded in 2001. 1966 is the year Premji took charge of the family firm. 1977 is the year India threw IBM out. 2013 is the year he signed the Giving Pledge. Memory hook: 2001 for the Foundation, 2013 for the Pledge.

The correct answer is IBM’s exit from India. In 1977 the Indian government threw IBM out over a dispute about investment and intellectual property. Premji saw it as a business opening. Wipro launched IT services for the home market in 1980. The other options are not linked to Wipro’s move into computers. Memory hook: IBM leaves, Wipro steps in.

The best answer is cooking oil and laundry soap. The company was founded in 1945 by Premji’s father as a cooking oil business. Soaps, toiletries and baby care joined from 1979. The other options are industries Wipro never started in. Premji took charge in 1966 after his father died. Memory hook: oil first, soap next, IT later.

Akula resigned as Executive Chairman in November 2011, after SKS Microfinance reported a large quarterly loss. He remained a consultant to the company until March 2012.

SKS listed in August 2010 as the first Indian microfinance company to go public. The other options describe things that did not happen.

Vikram Akula founded Swayam Krishi Sangam (SKS) in December 1997, initially as a non-profit microfinance organisation.