Indian Economy Mixed Quiz: Set 79

Personal Income is the part of National Income that actually reaches households, plus the transfers they receive. National Income counts all factor incomes earned in the economy, but not all of it is paid out to people.

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

The Second Five Year Plan (1956–61) was built on a growth model prepared by the statistician P. C. Mahalanobis, so it is called the Mahalanobis Plan.

The Unit Trust of India was established in 1963 by an Act of Parliament and launched its first scheme, Unit Scheme 1964 or US-64, in the following year; it held a monopoly of the business until 1987.

Narrow money, M1, is currency held by the public plus net demand deposits with commercial banks, the most liquid forms of money.

National Consumer Day marks the day on which the Consumer Protection Act, 1986 received the assent of the President of India, and it is observed every year with campaigns on consumer rights and on the machinery available for redressal.

Controlling inflation through monetary policy is the RBI's legal duty. The RBI Act, 1934 was amended in 2016 to give India a flexible inflation targeting framework.

The FTSE 100 began in 1984 and records the share prices of the hundred largest companies by market capitalisation listed in London; the name comes from the Financial Times and the Stock Exchange, which set up the index jointly, and it is read as the Footsie.

Retail core inflation is the rise in the Consumer Price Index after leaving out its two most volatile groups, food and beverages and fuel and light.

PAHAL, the direct benefit transfer scheme for cooking gas, was begun in fifty-four districts in November 2014 and extended to the whole country from 1 January 2015; the consumer buys the cylinder at the market price and the subsidy is credited to his bank account, and the Give It Up…

Disinvestment, small savings and market borrowing either create a liability for the government or reduce its assets, so they are capital receipts; interest received is a revenue receipt.

Land, rights in and over land, land tenures, the relation of landlord and tenant, and the collection of rent are entries of List II of the Seventh Schedule, which is why zamindari abolition, tenancy law and ceilings were enacted state by state and why their record varies so much.

Petrol is one of the petroleum products kept out of GST for now, so it still bears central excise duty and state VAT.

The earlier merchandise exports scheme was held to be inconsistent with world trade rules because it gave an incentive directly on exports, so it was replaced by a scheme that only refunds the duties and taxes embedded in an exported product which no other scheme refunds.

Both statements misread the make-up of India's external debt. Statement 1 is wrong because most of India's external debt is owed by non-government borrowers: companies through external commercial borrowings, banks through non-resident Indian deposits, and short-term trade credit.

TEPA was signed on 10 March 2024 in New Delhi with the four EFTA states, Iceland, Liechtenstein, Norway and Switzerland, and came into force on 1 October 2025.

A currency crisis comes when a country runs short of foreign exchange and its currency falls sharply, as India saw in 1991.

Beta tells how strongly a share's price moves when the whole market moves. The market itself has a beta of 1.

The NSQF recognises skills learnt in any way, formal, non-formal or informal, and aims to let learners move between vocational and general education.

The Pakistani economist Mahbub-ul-Haq gave the concept of human development and launched the first Human Development Report for the UNDP in 1990.