Indian Economy Mixed Quiz: Set 67

The First and Ninth Plans gave top priority to agriculture, and the Seventh Plan's slogan was food, work and productivity.

Make in India was launched in 2014, not 2018, and fostering innovation is one of its stated objectives. Prime Minister Narendra Modi launched Make in India on 25 September 2014 to turn India into a global hub for design and manufacturing.

An expansionist policy aims to make money cheaper and more plentiful, so the RBI would not raise the Marginal Standing Facility rate, which makes borrowing dearer.

As a member of the World Trade Organization, India had to protect geographical indications under the TRIPS Agreement, and the 1999 Act was passed for that purpose.

In the Union Budget 2022-23, interest on past borrowing was the single largest item of revenue expenditure. Revenue expenditure is spending that creates no assets, such as salaries, pensions, interest, subsidies and grants.

From 1978 the state government ran a campaign to enter the names of sharecroppers, known there as bargadars, in official records, which gave them a permanent and heritable right to cultivate and a legally fixed share of the crop, and it is quoted as the most effective tenancy reform in…

Keynes made the paradox of thrift a central idea of his economics in the 1930s. The paradox says that what is wise for one household can hurt the whole economy.

Marx published the first volume of Das Kapital in 1867; it analysed capital, surplus value and the exploitation of labour and became the basic text of what is called scientific socialism.

Charles Fourier and Saint-Simon were French thinkers of the early nineteenth century who, with Robert Owen in Britain, argued that competition should be replaced by cooperative and planned communities in which property is held in common.

Necessities and luxuries are matched correctly, but an inferior good has a negative income elasticity, not a positive one. Income elasticity of demand is the percentage change in quantity demanded divided by the percentage change in income.

Make in India was launched on 25 September 2014 as a national programme to make India a global hub of design and manufacturing, and it is implemented by the Department for Promotion of Industry and Internal Trade under the Ministry of Commerce and Industry.

The commission headed by C. Rangarajan reviewed the Indian statistical system and recommended a permanent and autonomous body to lay down standards, so the National Statistical Commission was constituted in 2005 as an advisory body with a part-time chairperson, members and the chief executive officer as its secretary; the chief…

Marshall, in his Principles of Economics, built the theory of demand on the assumption that utility is measurable in imaginary units, so that a consumer can compare the ten utils of a cup of tea with the six utils of a samosa; from this assumption he derived the law of…

On 19 May 2023 the Reserve Bank announced the withdrawal of the two thousand rupee note from circulation under its Clean Note Policy and asked banks to stop issuing it, while making it clear that the note was not being demonetised and would remain legal tender; holders were given a…

PAHAL is the direct benefit transfer scheme for subsidy on cooking gas (LPG). PAHAL stands for Pratyaksh Hanstantrit Labh, meaning direct transferred benefit.

He became Prime Minister in June 1991, in the middle of the balance of payments crisis, and his government devalued the rupee, borrowed from the International Monetary Fund and announced the New Economic Policy of liberalisation, privatisation and globalisation, with the Statement on Industrial Policy issued on 24 July 1991.

CSR spending must benefit society, not the company or its own staff, and the law does set a minimum amount to be spent.

The correct answer is B, the Department for Promotion of Industry and Internal Trade, known as DPIIT, which works under the Ministry of Commerce and Industry and is the nodal department for both programmes; it also recognises startups and maintains the national single window system.

Marginal utility is the addition made to total utility by one more unit, so as long as it is positive total utility keeps rising; the moment it becomes zero nothing more is being added and total utility stands at its highest point, called the point of satiety.

The target declared for Make in India was to raise the share of manufacturing in gross domestic product to twenty-five per cent along with the creation of a large number of jobs; the deadline, first set for 2022, was later extended.