Indian Economy Mixed Practice — MCQs with Answers (Set 31)

The combined rate is 4% of wages, with the employer paying 3.25% and the employee 0.75%, unchanged since a July 2019 revision.

The ceiling has stayed at ₹21,000 per month since 1 January 2017, despite repeated proposals to raise it.

The four Labour Codes took effect on 21 November 2025, repealing the standalone 1948 Act; ESIC continues, re-constituted under Section 5 of the new Code.

Prime Minister Nehru inaugurated the scheme in Kanpur and Delhi on 24 February 1952, and became its first insured person.

The Act came into force in 1948, but the scheme itself launched only on 24 February 1952, in Kanpur and Delhi.

As of 8 July 2026, cooperative banks had the highest number of KCC applications, over 1,178 lakh, ahead of commercial banks (~739 lakh) and RRBs (over 365 lakh).

NABARD mostly refinances banks and cooperatives. They lend onward to farmers. NABARD does not issue every farmer loan itself.

NABARD merged RBI’s Agricultural Credit Department and Rural Planning and Credit Cell with the Agricultural Refinance and Development Corporation (ARDC).

India’s installed solar capacity was 100.33 GW on 31 January 2025, so that date is right. The year 2022 was the deadline, which India missed. PIB gives the date and the capacity. It does not give a world rank, so treat the rank part with care. Memory hook: 31 January 2025 is the date to remember.

The final cumulative target is 1,00,000 MW, which is 100 GW, by 2022. The 10,000 MW and 50,000 MW options are too low. The 2,00,000 MW option is twice the revised goal. Memory hook: 100 GW equals 1,00,000 MW.

The original goal was 20 GW by 2022. The Cabinet raised it to 100 GW in June 2015, a fivefold rise. The reverse order is wrong because the target grew. The 50 GW options match no revision. Memory hook: 20 times five equals 100.

The Mission is one of eight National Missions under the National Action Plan on Climate Change. The National Water Mission is a different NAPCC mission. The Electricity Policy and the Integrated Energy Policy are not the framework for this Mission. Memory hook: solar is mission number one of the NAPCC.

The Mission was launched on 11 January 2010. The other years are later or earlier dates and do not match the launch. The 2015 date is when the target was revised, so do not mix them. Memory hook: launched 2010, target revised 2015.

E20-E30 petrol vehicles get an 8% discount, while flex-fuel ethanol vehicles get a larger 22.3% discount. CNG vehicles get 5% separately.

CAFE-I targeted 130 g CO2/km in 2017; CAFE-II tightened this to 113 g CO2/km from April 2022.

The Bureau of Energy Efficiency (BEE), under the Ministry of Power, administers CAFE norms under the Energy Conservation Act.

CAFE stands for Corporate Average Fuel Efficiency, a fleet-wide fuel-economy and CO2 target for automakers.

The material was developed jointly by IACS and the S.N. Bose National Centre for Basic Sciences (SNBNCBS), both DST institutes.

The new covalent organic framework (COF) material reached 80% charge in just over one minute.

The Finance Ministry’s own official list shows Nehru holding the portfolio during that gap, not Neogy, contrary to a widely repeated claim.

Neogy and Syama Prasad Mookerjee both resigned from the Cabinet in 1950, over the Nehru-Liaquat Pact.

His 1946 planning report informed the Constituent Assembly’s later debates on Union-State powers, under Article 246 and the Seventh Schedule.

Neogy chaired the First Finance Commission, which recommends how tax revenue is shared between the Union and States.

CCPA classified the pre-ticked-checkbox auto-enrolment as ‘Forced Action,’ alongside ‘Interface Interference’ for the pre-selected consent.

The committee wanted lower customs duties and fewer tariff rates. The option that fits a low tariff level is the one it pointed towards. India then had about 100 customs rates, some as high as 400 per cent.