Indian Economy Mixed Quiz: Set 75

On the expenditure side of India's GDP, private consumption is the largest share, investment (gross fixed capital formation) comes next, then government consumption, and net exports come last.

Industrial corridors are linear development belts built along a transport spine to speed up industrial growth, but they do not link all State capitals.

Farming needs large areas of land, while most non-farm work, such as a shop, a dairy, transport or small manufacturing, can be carried out on very little land.

The SENSEX, short for Sensitive Index, is composed of 30 large, well established and actively traded companies listed on the Bombay Stock Exchange, and since 2003 it has been calculated on the free-float market capitalisation method, which counts only the shares actually available for trading.

Buying securities puts money into the economy and raising the cash reserve ratio takes it out, but raising the bank rate reduces money supply instead of increasing it.

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

Base Erosion and Profit Shifting (BEPS) describes how multinationals shrink their tax base in one country by moving profits to low-tax places.

The Competition Act, 2002 rests on three pillars, and freedom of trade is the very thing it protects, so no provision of it prohibits trade; on the contrary, the Act opens by stating that it seeks to ensure freedom of trade carried on by other participants in markets in India.

The Fifteenth Finance Commission gave forest and ecology a weight of 10 per cent in deciding each State's share of the divisible pool of Union taxes.

Working with Alexander Read in the ceded districts and later as Governor of Madras, Munro settled the revenue directly with each cultivator, the ryot, who was recognised as the owner of his field so long as he paid, with the demand revised every twenty or thirty years.

The New Economic Policy of 1991 rested on liberalisation, privatisation and globalisation, and trade liberalisation and public sector disinvestment were among its main measures.

In a capitalist or market economy the means of production are privately owned and nobody issues orders about production.

SWAYAM is India's national platform of free online courses. SWAYAM stands for Study Webs of Active-Learning for Young Aspiring Minds.

The first PLI scheme was notified in 2020 for large-scale electronics manufacturing, with mobile phones and specified electronic components as its targets, and it was followed by schemes for pharmaceutical ingredients and medical devices in the same year.

Bretton Woods set up fixed, not floating, exchange rates. At the Bretton Woods Conference in New Hampshire, USA, in July 1944, 44 Allied nations agreed on a new post-war money order.

The census of 1881, taken under the Viceroy Lord Ripon and directed by W. C. Plowden, was the first to be carried out on one reference date across the whole country, and the unbroken decennial series of Indian censuses is counted from it.

The International Labour Organisation put it forward in the 1970s, asking that every person first have the essentials of a decent life.

Many sellers of an identical product, none of whom can change the price, is the definition of a perfectly competitive market.

Public goods are non-rival and non-excludable, but externalities cause market failure, so the market does not supply the optimal amount.

Only the Centre issues treasury bills and they are sold at a discount, but the RBI also manages state government securities.