Indian Economy Previous Year Questions (PYQ) with Answers – Page 21

Coal India, the largest coal producing company in the world, was granted Maharatna status in 2011 and remains on the list.

The White Revolution is the name given to the sharp rise in milk production in India, so the colour white here stands for milk.

Sukanya Samriddhi was opened in 2015 as part of the Beti Bachao Beti Padhao campaign: a guardian may open an account in the name of a girl child below the age of ten at a post office or a bank, deposit a small sum every year, and draw the maturity…

Statements 1 and 3 hold while statement 2 does not, so this pairing is the right one. The Agreement on Trade-Related Investment Measures is one of the World Trade Organization agreements that came out of the Uruguay Round in 1995.

All four of these countries sit in the G20, so this is the only group in which no name falls outside the forum.

The expression comes from the Micro, Small and Medium Enterprises Development Act, which came into force on 2 October 2006 and gave the sector its first statutory definition, replacing the older language of small scale and ancillary industrial undertakings.

The repo rate is the rate at which the Reserve Bank lends short-term money to banks against government securities. When inflation keeps rising, the Reserve Bank raises this rate, so banks borrow less and charge more on their own loans, spending and demand cool down and prices rise more slowly.

SEBI first appeared in April 1988 as an administrative arrangement with no legal powers, and it became a statutory regulator when the Securities and Exchange Board of India Act was passed in 1992; the words quoted in the question are taken from the preamble of that Act, which speaks of…

Sericulture is the rearing of silkworms to produce raw silk. Mulberry or other host plants are grown, the worms are fed on the leaves until they spin cocoons, and the cocoons are then boiled and reeled into thread.

The National Bank for Agriculture and Rural Development was set up on 12 July 1982.

The Total Fertility Rate is the average number of children a woman would have in her lifetime if she followed the current birth rates at each age from 15 to 49.

Monetary policy, the control of money supply and interest rates to keep prices stable, is the job of the central bank, the RBI, set up on 1 April 1935 under the RBI Act 1934 and nationalised on 1 January 1949.

Adam Smith laid down four canons of taxation, and fiscal adequacy was not one of them; it was added by later economists.

In Keynes's theory the level of employment in an economy is fixed by effective demand, the level of total spending at which aggregate demand equals aggregate supply.

Proposed by Franco Modigliani with Richard Brumberg and Albert Ando, it holds that a person plans consumption over a whole lifetime, using available resources, the return on wealth and age.

Monopolistic competition is a market with many sellers whose products are close substitutes but not exactly the same, such as different brands of soap, toothpaste or restaurant meals.

The Gini coefficient is the standard single number used to show how unequally income or wealth is shared among the people of a country.

The Human Development Index of the UNDP has only three dimensions, and financial access is not one of them.

A price floor is a lowest price fixed by the government, and the MSP guarantees farmers that price for crops such as jowar.

The sub-prime crisis was the collapse of risky American home loans in 2007 and 2008 that set off the worldwide Great Recession.