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Indian EconomyMediumAsked in: UPSC Civil Services · CSE Prelims 2024, GS Paper I

Consider the following statements : Statement-I : India does not import apples from the United States of America. Statement-II : In India, the law prohibits the import of Genetically Modified food without the approval of the competent authority. Which one of the following is correct in respect of the above statements?

  1. A.Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
  2. B.Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
  3. C.Statement-I is correct, but Statement-II is incorrect
  4. D.Statement-I is incorrect, but Statement-II is correct

Correct answer

D. Statement-I is incorrect, but Statement-II is correct

Explanation

The correct answer is D, Statement-I is incorrect, but Statement-II is correct. India has long imported apples from the United States, mainly the Washington apples sold in Indian cities. In 2019 India raised the duty on US apples as a retaliatory step against American tariffs on steel and aluminium, and in 2023 it withdrew that extra duty after the two countries settled their WTO disputes. Imports were taxed and reduced, never banned, so Statement-I is false. Statement-II is true: under the Food Safety and Standards Act, 2006, no genetically modified food may be manufactured, sold or imported without the approval of the Food Safety and Standards Authority of India, and the Environment (Protection) Act rules also regulate GM organisms. Option A is wrong because Statement-I is false, so nothing can explain it. Option B is wrong for the same reason. Option C is wrong because it reverses the truth of the two statements. Exam tip: GM food in India needs FSSAI approval under the FSS Act 2006; US apples are imported, only the duty has changed.

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Q1.Indian EconomyAsked in: NDA · NDA-II 2022, GATEasy

Consider the following statements about 'Ude Desh ka Aam Nagrik (UDAN)' scheme :

1. It is an innovative scheme to develop the regional aviation market.

2. It creates affordability yet economically viable and profitable flight on regional routes.

Which of the statements given above is/are correct?

  1. A.1 only
  2. B.2 only
  3. C.Both 1 and 2
  4. D.Neither 1 nor 2
Show answer
Correct answer: C. Both 1 and 2

UDAN is the regional connectivity scheme meant to grow regional air travel and make it affordable while keeping the routes viable for airlines.

Q2.Indian EconomyAsked in: NDA · NDA-II 2026, GATMedium

Which one of the following Five-Year Plan documents was titled as "Towards Faster and More Inclusive Growth"?

  1. A.Eighth Plan
  2. B.Ninth Plan
  3. C.Tenth Plan
  4. D.Eleventh Plan
Show answer
Correct answer: D. Eleventh Plan

The Eleventh Five-Year Plan (2007–2012) carried the title "Towards Faster and More Inclusive Growth". The Eleventh Plan was prepared by the Planning Commission under Prime Minister Manmohan Singh, with Montek Singh Ahluwalia as Deputy Chairman.

Q3.Indian EconomyAsked in: CDS · CDS-II 2018, GKHard

The Fourteenth Finance Commission assigned different weights to the following parameters for distribution of tax proceeds to the States :

1. Income distance

2. Population

3. Demographic changes

4. Area

Arrange the aforesaid parameters in descending order in terms of their weights.

  1. A.1-2-3-4
  2. B.1-2-4-3
  3. C.1-3-2-4
  4. D.4-3-2-1
Show answer
Correct answer: B. 1-2-4-3

Income distance had the highest weight, followed by population, area and demographic change. The Fourteenth Finance Commission, chaired by Y.V.

Q4.Indian EconomyAsked in: CDS · CDS-II 2024, GKHard

Which one of the following statements for a firm's equilibrium in Perfect Competition is not correct ?

  1. A.The market price must be greater or equal to average variable cost in the short run.
  2. B.The market price must be equal to marginal cost.
  3. C.The market price must be equal to average cost in the long run.
  4. D.The marginal cost decreases at the equilibrium output.
Show answer
Correct answer: D. The marginal cost decreases at the equilibrium output.

This statement is not correct, because at the equilibrium of a competitive firm marginal cost must be rising. A firm in perfect competition is a price taker, so the price it gets equals its marginal revenue.