Previous year MCQs

Economy UPPSC 1995 GS-I
Question

Two largest items of import in India in recent years are:

Answer & Solution

Answer: (Detailed Solution Below)

Option D: Gold and petroleum products

Detailed Solution:

The correct answer is “Gold and petroleum products”.
India's top two imports in recent years are crude petroleum and gold.

Top 10 imports commodities: Petroleum Oils and Mineral Fuels > Gold > Electrical Machinery and Equipment > Nuclear Reactors and Machinery

While petroleum products have consistently been a major import for India due to its growing energy needs, the import of capital goods has also surged in recent years as the country focuses on industrialization and infrastructure development.

China retained its spot as top import partner for India in 2023-24 with goods inflows increasing 3.29 percent (year-on-year) .

Similar Questions:

The most appropriate measure of a country’s economic growth is its:
  1. A) Gross Domestic Product (GDP)
  2. B) Net Domestic Product (NDP)
  3. C) Net National Product (NNP)
  4. D) Per Capital Product (PCP)
In deficit financing, the difference between expenditure and revenue is covered by printing new notes. Meaning of this sentence is Economic development. But if it is unsuccessful then the condition arise is known as?
  1. A) Currency contraction
  2. B) Demonetization
  3. C) Currency devaluation
  4. D) Currency inflation
Main function of Finance commission is
  1. A) The distribution between the union and the states of the net proceeds of taxes which are to be, or may be, divided between them
  2. B) Financial control over states
  3. C) Financial control over centre
  4. D) None of these
Who formulates the monetary policy in India?
  1. A) SEBI
  2. B) RBI
  3. C) Finance Ministry
  4. D) Planning Commission
The concept of 'Vicious Circle of Poverty' is related to:
  1. A) Karl Marx
  2. B) Nurkse
  3. C) Adam Smith
  4. D) None of the above
Market in gilt-edged is related to trade in:
  1. A) Metals
  2. B) Debentures
  3. C) Government Securities
  4. D) Arms
The Bank rate is the rate at which:
  1. A) a bank lends to the public
  2. B) the RBI lends to the public
  3. C) the RBI gives credit to the commercial banks
  4. D) the Government of India lends to other countries.
Carnatic war was fought between:
  1. A) English and French
  2. B) English and Dutch
  3. C) English and Marathas
  4. D) Haider Ali and Marathas
Which of the following was awarded with the honour of "zari qalam" by King Akbar?
  1. A) Mohammad Husain
  2. B) Muqammal Khan
  3. C) Abu samad
  4. D) Mir Sayed Ali
Assertion (A): In recent times, the growth in the public sector employment has been very sluggish in India.
Reason (R): There has been reassessment of the role of State in economic development.
  1. A) Both A and R are true and R is the correct explanation of A
  2. B) Both A and R are true but R is not the correct explanation of A
  3. C) A is true but R is false
  4. D) A is false but R is true
Neutron was discovered by:
  1. A) Chadwick
  2. B) Rutherford
  3. C) Bohr
  4. D) Newton
The Indian planned economy is based:
  1. A) On Gandhian system
  2. B) On the Socialist system
  3. C) On Capitalist system
  4. D) On Mixed economy