Question : The Foreign Exchange Management Act (FEMA) replaced which earlier act?

Option 1: Foreign Exchange Regulation Act (FERA)

Option 2: Foreign Investment Promotion Board (FIPB)

Option 3: Industrial Development and Regulation Act (IDRA)

Option 4: Companies Act

Question : The shift in class structure post-independence in India was influenced by:  
 

Option 1: The abolition of the caste system  
 

Option 2: The growth of the industrial and service sectors  
 

Option 3: Decreased urbanization  

Option 4: Reduction in income inequalities  

Question : The success of workers' movements in India can be measured by:

Option 1: The number of strikes organized

Option 2: The improvement in workers' rights and conditions

Option 3: The increase in industrial output

Option 4: The expansion of export markets

Question : Which among the following corridors was inaugurated by Prime Minister Narendra Modi in October 2022?

Option 1: Mahakal Lok Corridor

Option 2: Chennai Bengaluru Industrial Corridor

Option 3: Kashi Corridor

Option 4: North East Economic Corridor

Question : Land reforms in India were aimed at addressing which of the following issues?  
 

Option 1: Urban unemployment  
 

Option 2: Industrial monopolies  
 

Option 3: Agricultural inefficiency and social inequality  

Option 4: Foreign trade imbalances  

Question : Which of the following was a major challenge faced during the implementation of land reforms in India?  
 

Option 1: Lack of political will  
 

Option 2: High agricultural productivity  
 

Option 3: Urbanization  

Option 4: Industrial growth  

Question : Statement 1: The Industrial Policy Resolution of 1956 aimed to promote the development of the public sector in India.

Statement 2: The resolution emphasized the role of private enterprises in industrial growth.

Option 1: Both statements are true.
 

Option 2: Both statements are false.
 

Option 3: Statement 1 is true, and statement 2 is false.

Option 4: Statement 1 is false, and statement 2 is true.

Question : Comprehension:
Read the passage carefully and answer the questions that follow.
India's favourable demographic trends, which have increased the workforce's percentage of the overall population, have paved the way for a significant middle-class expansion. A big population bulge emerging from absolute poverty and set to reach the middle class would generate new dynamics. In India, over 55 percent of the population is predicted to reach the middle class. In reality, because India's demographics are significantly younger than China and the United States, the country's middle class might be the world's largest (in terms of population) by 2025.
It is no exaggeration to argue that future growth will be reliant on the increasing middle class and that the middle class's development will be reliant on growth. Growth has been fuelled by both private consumption and saving, both of which are fuelled by the middle class. India's private consumption accounts for over 60% of the country's GDP, while private consumption growth has contributed to 70% of the country's growth since 2000.
Even though China's middle class is now greater than India's, private spending in the former accounts for a lesser share of growth. In contrast to the United States, where domestic savings are dropping and the country borrows excess funds from outside to invest and expand, India's domestic savings and investments are increasing and funding investments. The emergence of the middle class is anticipated to coincide with a transition away from large-scale informality, which now characterises much of the services and industrial sectors, and toward more formal, wage-earning, and medium-scale firms. Technological advancements will spread at a faster rate. Cities will expand as the necessities concentrate on them. If there is enough movement across states and from rural to urban regions, the population increase will be more evenly distributed.

Question:
Which of the following options has contributed to the expansion of the middle class?

Option 1: Evenly distributed economic opportunities

Option 2: Increased private consumption

Option 3: Increased workforce percentage

Option 4: Increased foreign investment

Question : The agrarian class structure in pre-independence India was characterized by:  
 

Option 1: Dominance of the industrial working class  
 

Option 2: Equitable distribution of land  
 

Option 3: Hierarchical landholding patterns  

Option 4: Absence of landless laborers  

Question : Which of the following best describes the rural-urban divide in India?

Option 1: The difference in political ideologies between rural and urban areas

Option 2: The disparity in access to healthcare and education

Option 3: The contrast in agricultural and industrial activities

Option 4: The distinction in religious practices