Indian Economy Test 3

The proportion of employment has declined significantly but not the share of the agriculture sector in GDP.

The proportion of both the agriculture sector and employment in GDP has increased significantly.

The proportion of both the agriculture sector and employment in GDP has declined significantly.

The proportion of GDP contributed by the agricultural sector declined significantly but not the employment depending on the agriculture sector.

BHEL

Reliance

Tata

Adani

Friedman’s model

Keynesian model

Baumol hypothesis

Philips curve

Fees and fines

Personal income tax

Corporate income tax

Value-added tax

Higher employment generation

Consumer protection against high prices and bad quality

Promotion of export-oriented industries

Allowing the maximum foreign direct investment

Steel Authority of India Limited

Tata Iron and Steel Company

Oil India Limited

Bharat Heavy Electricals Limited

₹6,000

₹4,000

₹5,000

₹3,000

2003

1983

1993

2013

4%

6%

5%

7%

Subsidies

Depreciation

Net indirect taxes

Net factor income from abroad

Deforestation

Soil degradation

Increase in air pollution

Ozone layer depletion

III, II, IV, I

II, IV, I, III

IV, II, I, III

I, II, III, IV

4%

2%

6%

8%

Railway and air

Sea and air

Only Railway

Sea and railway

Market for industrial produce

Capital investment in industries

Employment required for industries

Land for industrial establishment

Microfinance institutions providing loans directly to SHGs

Banks providing loans to individual members of SHGs

Non-governmental organisations providing capacity building training to SHGs

State government providing subsidies to SHGs for credit

Ensuring food security in the western states

Promoting conventional agricultural practices

Focusing on holistic development in agriculture

Increasing the use of chemical fertilizers and pesticides

SHGs are non-profit organisations, while MFIs are for-profit organisations.

SHGs provide only credit, while MFIs provide a range of financial services.

SHGs are typically small, community-based organisations, while MFIs are larger and more formal institutions.

SHGs rely on government subsidies for funding, while MFIs rely on commercial sources of funding.

The plan stressed the rapid industrialisation of heavy and basic industries.

Electricity, Railway, Steel etc. industries were established during the plan.

The plan was based on the Keynesian Model.

The socialist pattern of the society was reflected in the plan.

Atal Pension Yojana

Pradhan Mantri Mudra Yojna

Pradhan Mantri Suraksha Bhima Yojna

Pradhan Mantri Shram Yogi Maandhan

non-excludable

rivalrous

free rider

private good

Tax and duty concessions

Guaranteed market share

Mandatory government contracts

Unlimited foreign investment

Manufacturing

Service

Agriculture

Import

Industrial Policy 1991

Industrial Policy 1980

Industrial Policy 1977

Industrial Policy 1956

National Income is GNP at FC.

National Income is NDP at MP.

National Income is GDP at MP.

National Income is NNP at FC.

76 per cent

72 per cent

74 per cent

64 per cent

11.21 Lakh crore

10. 56 Lakh crore

17.21 Lakh crore

19.21 Lakh crore

Health insurance for gig workers and interest-free loans for street vendors

Identity cards for gig workers and UPI-linked credit cards for street vendors

Pension scheme for gig workers and subsidy for street vendors

Tax exemptions for gig workers and cash incentives for street vendors

1 only

2 only

1 and 2

None of the above

Agriculture sector

Manufacturing sector

Service Sector

None of these