Economic Survey 2024-25: 20 MCQs on Key Highlights, Growth Trends & Policy Insights for UPSC/SSC Exams

20 MCQs from Economic Survey 2024-25 with Answers

1. Which of the following is identified as a key driver for India's domestic growth in the Economic Survey 2024-25?

A) Protectionist trade policies
B) Deregulation
C) Increase in government subsidies
D) Expansion of informal labor

Answer: B) Deregulation

2. What is the projected real GDP growth rate for India in FY25, as per the Economic Survey 2024-25?

A) 5.5%
B) 6.4%
C) 7.2%
D) 8.1%

Answer: B) 6.4%

3. According to the Economic Survey 2024-25, which sector is expected to experience a significant growth rate of 7.2%?

A) Agriculture
B) Industrial
C) Services
D) Mining

Answer: C) Services

4. Which of the following factors contributed to the decline in India's retail inflation in FY25?

A) Decrease in fuel price inflation
B) High supply chain disruptions
C) Reduction in GST rates
D) Increase in agricultural subsidies

Answer: A) Decrease in fuel price inflation

5. According to the Economic Survey 2024-25, which initiative aims to strengthen India's supply chain resilience?

A) Atmanirbhar Bharat
B) Make in India
C) Production-Linked Incentive (PLI) Scheme
D) All of the above

Answer: D) All of the above

6. What is the estimated share of renewable energy in India's total installed capacity as of November 2024?

A) 35%
B) 42%
C) 47%
D) 50%

Answer: C) 47%

7. What is the estimated current account deficit (CAD) of India in Q2 of FY25?

A) 0.8% of GDP
B) 1.2% of GDP
C) 2.3% of GDP
D) 3.5% of GDP

Answer: B) 1.2% of GDP

8. The Economic Survey 2024-25 highlights which of the following as a major challenge for India's agricultural sector?

A) Over-reliance on traditional farming methods
B) Declining food exports
C) High dependence on water-intensive crops
D) Increasing fuel prices

Answer: C) High dependence on water-intensive crops

9. India is ranked as the second-largest global exporter in which service sector category?

A) Healthcare services
B) Business consulting
C) Telecommunications, Computer, and Information Services
D) Tourism and Hospitality

Answer: C) Telecommunications, Computer, and Information Services

10. Which major initiative under the Economic Survey 2024-25 aims to enhance India's digital infrastructure?

A) Digital India
B) BharatNet Project
C) PM-WANI
D) All of the above

Answer: D) All of the above

11. What is the target installed renewable energy capacity for Indian Railways by 2029-30?

A) 15 GW
B) 20 GW
C) 30 GW
D) 50 GW

Answer: C) 30 GW

12. The Economic Survey 2024-25 projects which major challenge in India’s labor market?

A) Declining youth population
B) AI-driven automation affecting jobs
C) Increase in wage stagnation
D) Migration of skilled workers abroad

Answer: B) AI-driven automation affecting jobs

13. The Economic Survey 2024-25 identifies which Indian state as having the highest service sector Gross State Value Added (GSVA)?

A) Karnataka
B) Maharashtra
C) Gujarat
D) Tamil Nadu

Answer: A) Karnataka

14. What is India's rank in global services exports as per the Economic Survey 2024-25?

A) 5th
B) 7th
C) 10th
D) 12th

Answer: B) 7th

15. According to the Economic Survey 2024-25, India’s banking sector has witnessed which significant improvement?

A) Decline in Gross Non-Performing Assets (GNPAs)
B) Increased government ownership of banks
C) Decrease in private sector credit growth
D) Reduction in digital banking adoption

Answer: A) Decline in Gross Non-Performing Assets (GNPAs)

16. Which economic challenge is highlighted in the Economic Survey 2024-25 regarding India's trade policies?

A) Over-dependence on crude oil imports
B) Trade surplus with major economies
C) Decline in foreign exchange reserves
D) Increase in import duties on essential goods

Answer: A) Over-dependence on crude oil imports

17. What is the main objective of the "LiFE Mission" mentioned in the Economic Survey 2024-25?

A) Promoting eco-friendly and sustainable lifestyles
B) Expanding India’s clean energy production
C) Boosting local manufacturing of electric vehicles
D) Reducing plastic usage in rural areas

Answer: A) Promoting eco-friendly and sustainable lifestyles

18. The Economic Survey 2024-25 mentions which scheme to enhance sustainable agriculture in India?

A) Pradhan Mantri Fasal Bima Yojana (PMFBY)
B) Paramparagat Krishi Vikas Yojana (PKVY)
C) Kisan Credit Card (KCC)
D) Rashtriya Krishi Vikas Yojana (RKVY)

Answer: B) Paramparagat Krishi Vikas Yojana (PKVY)

19. India’s external debt to GDP ratio as per the Economic Survey 2024-25 stands at?

A) 15.8%
B) 17.5%
C) 19.4%
D) 22.1%

Answer: C) 19.4%

20. The Economic Survey 2024-25 emphasizes which area for long-term economic stability?

A) Increased government spending on subsidies
B) Strengthening the informal labor sector
C) Enhancing financial literacy and digital transactions
D) Reducing dependency on fossil fuels

Answer: D) Reducing dependency on fossil fuels

21. What is India's projected real GDP growth rate range for FY26, as per the Economic Survey 2024-25?

A) 5.8% - 6.3%
B) 6.3% - 6.8%
C) 6.8% - 7.3%
D) 7.3% - 7.8%

Answer: B) 6.3% - 6.8%

22. According to the Economic Survey 2024-25, which region of India has the lowest contribution to the country’s industrial output?

A) Northern India
B) Eastern India
C) Western India
D) Northeastern India

Answer: D) Northeastern India

23. Which major global event is mentioned in the Economic Survey 2024-25 as influencing global trade and inflation?

A) Red Sea Shipping Disruptions
B) European Energy Crisis
C) Russia-Ukraine Conflict
D) US-China Trade War

Answer: A) Red Sea Shipping Disruptions

24. As per the Economic Survey 2024-25, what is the major reason behind India’s food price volatility?

A) Supply chain inefficiencies
B) Extreme weather events
C) Poor storage infrastructure
D) Increase in Minimum Support Price (MSP)

Answer: B) Extreme weather events

25. What is the name of the government initiative focused on enhancing mangrove ecosystem protection as per the Economic Survey 2024-25?

A) Green India Mission
B) MISHTI (Mangrove Initiative for Shoreline Habitats & Tangible Incomes)
C) Jal Shakti Abhiyan
D) National Wetland Conservation Programme

Answer: B) MISHTI (Mangrove Initiative for Shoreline Habitats & Tangible Incomes)

26. What percentage of India’s formal sector employment comes from the Micro, Small, and Medium Enterprises (MSME) sector, as highlighted in the Economic Survey 2024-25?

A) 25%
B) 35%
C) 45%
D) 50%

Answer: C) 45%

27. The Economic Survey 2024-25 highlights which initiative to promote sustainable and responsible tourism in India?

A) Incredible India 2.0
B) Swadesh Darshan Scheme 2.0
C) National Tourism Infrastructure Scheme
D) Bharat Parv Yojana

Answer: B) Swadesh Darshan Scheme 2.0

28. As per the Economic Survey 2024-25, what is the main objective of the "Harit Nauka Guidelines" introduced in 2024?

A) Transition 1,000 inland vessels to green energy
B) Reduce the cost of maritime logistics
C) Promote private sector participation in shipbuilding
D) Increase India’s maritime export capabilities

Answer: A) Transition 1,000 inland vessels to green energy

29. According to the Economic Survey 2024-25, India’s bank credit-to-GDP ratio is lower compared to which of the following economies?

A) China and Indonesia
B) UK and Japan
C) Mexico and South Korea
D) Brazil and South Africa

Answer: B) UK and Japan

30. The Economic Survey 2024-25 identifies which factor as a key risk to India's economic growth in the medium term?

A) Rising government debt
B) Trade protectionism and geo-economic fragmentation
C) Declining agricultural productivity
D) Increase in social welfare spending

Answer: B) Trade protectionism and geo-economic fragmentation