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Question 1 of 10
1. Question
2 points
In post-independent India, the Mahalanobis model of economic growth adopted laid stress on
Correct
Answer: C
Explanation:
At the time of formulation of the 2 nd five-year plan, Mahalanobis showed that to achieve a rapid long-term rate of growth it would be essential to devote a major part of the investment outlay to building of basic heavy industries. The pillars of Nehru – Mahalanobis strategy were – (a) high savings rate, (b) heavy industry bias, (c) protectionist policies and public sector, (d) import substitution, and (e) socialistic pattern of society. However, incritique of the Mahalanobis heavy industry development strategy, Professors Vakil and Brahmanand of Bombay University put forward a wage-goods (consumer goods) model of development and suggested a development strategy which accorded a top priority to agriculture and other wage-goods industries in sharp contrast to the Mahalanobis heavy industry biased strategy of development.
Incorrect
Answer: C
Explanation:
At the time of formulation of the 2 nd five-year plan, Mahalanobis showed that to achieve a rapid long-term rate of growth it would be essential to devote a major part of the investment outlay to building of basic heavy industries. The pillars of Nehru – Mahalanobis strategy were – (a) high savings rate, (b) heavy industry bias, (c) protectionist policies and public sector, (d) import substitution, and (e) socialistic pattern of society. However, incritique of the Mahalanobis heavy industry development strategy, Professors Vakil and Brahmanand of Bombay University put forward a wage-goods (consumer goods) model of development and suggested a development strategy which accorded a top priority to agriculture and other wage-goods industries in sharp contrast to the Mahalanobis heavy industry biased strategy of development.
Question 2 of 10
2. Question
2 points
Consider the following statements.
Assertion (A): Before 1991, majority of female workers, in India, were from rural areas, but post-1991 their majority is found in urban areas.
Reason (R): Industrial and services sector have grown faster than agriculture after 1991 post the introduction of New Economic Policy.
In the context of the above, which of these is correct?
Correct
Answer: D
Explanation:
Of the total 402 million workers, 275 million are males and 127 million females. This would mean that 51.7 percent of the total males and 25.6 percent of the total females are workers. Majority of female workers (87.3 percent) are from rural areas. This is also twice that of male workers, which may be due to their being employed predominantly in activities like cultivation and agricultural labour. The trend has not changed much even after 1991.So, A is wrong. In the urban areas, majority of female workers are engaged in Households industry and other work.
Interestingly, among marginal workers females outnumber the males. In three of the four categories, viz. cultivators, agricultural labourers and household industries, female marginal workers outnumber male workers.
Incorrect
Answer: D
Explanation:
Of the total 402 million workers, 275 million are males and 127 million females. This would mean that 51.7 percent of the total males and 25.6 percent of the total females are workers. Majority of female workers (87.3 percent) are from rural areas. This is also twice that of male workers, which may be due to their being employed predominantly in activities like cultivation and agricultural labour. The trend has not changed much even after 1991.So, A is wrong. In the urban areas, majority of female workers are engaged in Households industry and other work.
Interestingly, among marginal workers females outnumber the males. In three of the four categories, viz. cultivators, agricultural labourers and household industries, female marginal workers outnumber male workers.
Question 3 of 10
3. Question
2 points
Which of these were significant elements of the New Industrial Policy, 1991?
De-reservation and de-licensing of certain industries
Revival of the MRTP Limit (Monopolistic and Restrictive Trade Practices)
Promotion to Foreign Investment
Commitment to a Foreign Exchange Management Act allowing improved current account convertibility
Select the correct answer using the codes below.
Correct
Answer: B
Explanation:
Statement 1: This policy abolished the Industrial licensing for all industries except for a short list of 18 industries. This list of 18 industries was further pruned in 1999 whereby the number reduced to six industries viz.drugs and pharmaceuticals, hazardous chemicals, explosives such as gun powder and detonating fuses, tobacco products, alcoholic drinks, and electronic, aerospace and defence equipment.
Statement 2: The limit was abolished and companies were allowed to expand freely with only certain limitations.
Statement 3: This was the first Industrial policy in which foreign companies were allowed to have majority stake in India. In 47 high priority industries, up to 51% FDI was allowed. For export trading houses, FDI up to 74% was allowed. Today, there are numerous sectors in the economy where government allows 100% FDI.
Statement 4: Restrictions on exchange of currency for the purposes of current account (such as trade or remittances) were revoked.
Incorrect
Answer: B
Explanation:
Statement 1: This policy abolished the Industrial licensing for all industries except for a short list of 18 industries. This list of 18 industries was further pruned in 1999 whereby the number reduced to six industries viz.drugs and pharmaceuticals, hazardous chemicals, explosives such as gun powder and detonating fuses, tobacco products, alcoholic drinks, and electronic, aerospace and defence equipment.
Statement 2: The limit was abolished and companies were allowed to expand freely with only certain limitations.
Statement 3: This was the first Industrial policy in which foreign companies were allowed to have majority stake in India. In 47 high priority industries, up to 51% FDI was allowed. For export trading houses, FDI up to 74% was allowed. Today, there are numerous sectors in the economy where government allows 100% FDI.
Statement 4: Restrictions on exchange of currency for the purposes of current account (such as trade or remittances) were revoked.
Question 4 of 10
4. Question
2 points
The New Economic Policy (NEP) 1991 was an outcome of
Correct
Answer: D
Explanation:
A BoP crisis is a situation when the foreign exchange that a nation has is not enough to finance the
external account deficit. Foreign exchange reserves in the late 1980s declined to a level that was not adequate to finance imports for more than two weeks. There was also not sufficient foreign exchange to pay the interest that needs to be paid to international lenders. Therefore, a BoP crisis was looming to avert which India resorted to the help of WB and IMF. So, (d) is correct.
Hyperinflation is a situation of exceedingly high inflation (likes of 300-5000%). India was not suffering withhyperinflation, however, inflation was high. Asian financial crisis happened in 1997 from which India was largely insulated. Other objectives of the policy were to tackle high inflation, mismanagement of the economy, revivegrowth prospects etc. However, the most appropriate reason is to avert a BoP crisis.
The NEP aimed towards creating a more competitive environment in the economy and removing the barriers to entry and growth of firms. It can broadly be classified into two groups: the stabilization measures and the structural reform measures. Stabilization measures are short-term measures, intended to correct some of the weaknesses that have developed in the balance of payments and to bring inflation under control. On the other hand, structural reform policies are long-term measures, aimed at improving the efficiency of the economy and increasing its international competitiveness by removing the rigidities in various segments of the Indian economy
A BoP crisis is a situation when the foreign exchange that a nation has is not enough to finance the
external account deficit. Foreign exchange reserves in the late 1980s declined to a level that was not adequate to finance imports for more than two weeks. There was also not sufficient foreign exchange to pay the interest that needs to be paid to international lenders. Therefore, a BoP crisis was looming to avert which India resorted to the help of WB and IMF. So, (d) is correct.
Hyperinflation is a situation of exceedingly high inflation (likes of 300-5000%). India was not suffering withhyperinflation, however, inflation was high. Asian financial crisis happened in 1997 from which India was largely insulated. Other objectives of the policy were to tackle high inflation, mismanagement of the economy, revivegrowth prospects etc. However, the most appropriate reason is to avert a BoP crisis.
The NEP aimed towards creating a more competitive environment in the economy and removing the barriers to entry and growth of firms. It can broadly be classified into two groups: the stabilization measures and the structural reform measures. Stabilization measures are short-term measures, intended to correct some of the weaknesses that have developed in the balance of payments and to bring inflation under control. On the other hand, structural reform policies are long-term measures, aimed at improving the efficiency of the economy and increasing its international competitiveness by removing the rigidities in various segments of the Indian economy
Incorrect
Answer: D
Explanation:
A BoP crisis is a situation when the foreign exchange that a nation has is not enough to finance the
external account deficit. Foreign exchange reserves in the late 1980s declined to a level that was not adequate to finance imports for more than two weeks. There was also not sufficient foreign exchange to pay the interest that needs to be paid to international lenders. Therefore, a BoP crisis was looming to avert which India resorted to the help of WB and IMF. So, (d) is correct.
Hyperinflation is a situation of exceedingly high inflation (likes of 300-5000%). India was not suffering withhyperinflation, however, inflation was high. Asian financial crisis happened in 1997 from which India was largely insulated. Other objectives of the policy were to tackle high inflation, mismanagement of the economy, revivegrowth prospects etc. However, the most appropriate reason is to avert a BoP crisis.
The NEP aimed towards creating a more competitive environment in the economy and removing the barriers to entry and growth of firms. It can broadly be classified into two groups: the stabilization measures and the structural reform measures. Stabilization measures are short-term measures, intended to correct some of the weaknesses that have developed in the balance of payments and to bring inflation under control. On the other hand, structural reform policies are long-term measures, aimed at improving the efficiency of the economy and increasing its international competitiveness by removing the rigidities in various segments of the Indian economy
A BoP crisis is a situation when the foreign exchange that a nation has is not enough to finance the
external account deficit. Foreign exchange reserves in the late 1980s declined to a level that was not adequate to finance imports for more than two weeks. There was also not sufficient foreign exchange to pay the interest that needs to be paid to international lenders. Therefore, a BoP crisis was looming to avert which India resorted to the help of WB and IMF. So, (d) is correct.
Hyperinflation is a situation of exceedingly high inflation (likes of 300-5000%). India was not suffering withhyperinflation, however, inflation was high. Asian financial crisis happened in 1997 from which India was largely insulated. Other objectives of the policy were to tackle high inflation, mismanagement of the economy, revivegrowth prospects etc. However, the most appropriate reason is to avert a BoP crisis.
The NEP aimed towards creating a more competitive environment in the economy and removing the barriers to entry and growth of firms. It can broadly be classified into two groups: the stabilization measures and the structural reform measures. Stabilization measures are short-term measures, intended to correct some of the weaknesses that have developed in the balance of payments and to bring inflation under control. On the other hand, structural reform policies are long-term measures, aimed at improving the efficiency of the economy and increasing its international competitiveness by removing the rigidities in various segments of the Indian economy
Question 5 of 10
5. Question
2 points
With respect to Electronic Negotiable Warehouse Receipt (e-NWR) consider the following statements:
1) It can be traded, sold, swapped and used as collateral to support borrowing or loans from banks.
2) It will allow more convenient trading of produce on the electronic National Agriculture Markets (e- NAM).
3) It is implemented by Ministry of Consumer Affairs, Food and Public Distribution.
4) Electronic Negotiable Warehouse Receipt (e-NWR) is being implemented under Digital India mission
Which of the following statements are correct?
Correct
Answer: D
Explanation:
E- NWR aims at simplifying Warehouse Registration Rules, digitizing entire process of registration,
monitoring and surveillance as well as creation and management of NWRs in electronic form through two repositories. NWRs are documents issued by warehouses to depositors against commodities deposited in warehouses for which warehouse is bailee. NWRs can be traded, sold, swapped and used as collateral to support borrowing or loans from banks. These receipts were made negotiable under Warehouse (Development and Regulation) Act, 2007 and are regulated by Warehousing Development and Regulatory Authority (WDRA). E-NWRwill have no chances of any tempering, mutilation, fudging, loss or damage and also no possibility of any multiple financing. e-NWR will also help to save expenditure in logistics as stocks could be traded through multiple buyers without physical movement and can be even split for partial transfer or withdrawal.
Incorrect
Answer: D
Explanation:
E- NWR aims at simplifying Warehouse Registration Rules, digitizing entire process of registration,
monitoring and surveillance as well as creation and management of NWRs in electronic form through two repositories. NWRs are documents issued by warehouses to depositors against commodities deposited in warehouses for which warehouse is bailee. NWRs can be traded, sold, swapped and used as collateral to support borrowing or loans from banks. These receipts were made negotiable under Warehouse (Development and Regulation) Act, 2007 and are regulated by Warehousing Development and Regulatory Authority (WDRA). E-NWRwill have no chances of any tempering, mutilation, fudging, loss or damage and also no possibility of any multiple financing. e-NWR will also help to save expenditure in logistics as stocks could be traded through multiple buyers without physical movement and can be even split for partial transfer or withdrawal.
Question 6 of 10
6. Question
2 points
Consider the following statistics.
India ranks first among the world’s milk producing Nations.
Most of the milk produced in India comes from cooperatives.
Correct
Answer: A
Explanation:
Statement 1: India continued to be the largest milk producing nation (since 1998) with milk
production of nearly 155 million tonnes during 2015-16. Milk production in the country is 165.4 million tonnes during 2016-17 and 176.35 million tonnes (provisional) during 2017-18. India also has the largest bovine population in the World. About 54% of the milk produced in the country is surplus for marketing in the domestic market, of which only about 20% is procured/processed by the organized sector being equally, shared by Cooperatives and Private dairy organizations.
Statement 2: The dairy cooperatives collectively procure around 16 million tonnes of milk. Government is mandated to double milk producers’ income at farm level by providing rural milk producers with greater access to the organized milk processing sector. Department of Animal Husbandry, Dairying & Fisheries has formulated a Draft National Action Plan for Dairy Development recently.
Though India maintains its position as word’s top milk producer, with production of 176.3 million tonne milk production in 2017-18, more than 50% of the marketable surplus is still handled by the unoranised sector. Of the total milk produced in rural areas around 52 per cent is the marketable surplus. Of this surplus less than half of the milk sold is handled by the organized sector comprising of dairy cooperatives and private dairy companies and the rest by the unorganized sector.
Incorrect
Answer: A
Explanation:
Statement 1: India continued to be the largest milk producing nation (since 1998) with milk
production of nearly 155 million tonnes during 2015-16. Milk production in the country is 165.4 million tonnes during 2016-17 and 176.35 million tonnes (provisional) during 2017-18. India also has the largest bovine population in the World. About 54% of the milk produced in the country is surplus for marketing in the domestic market, of which only about 20% is procured/processed by the organized sector being equally, shared by Cooperatives and Private dairy organizations.
Statement 2: The dairy cooperatives collectively procure around 16 million tonnes of milk. Government is mandated to double milk producers’ income at farm level by providing rural milk producers with greater access to the organized milk processing sector. Department of Animal Husbandry, Dairying & Fisheries has formulated a Draft National Action Plan for Dairy Development recently.
Though India maintains its position as word’s top milk producer, with production of 176.3 million tonne milk production in 2017-18, more than 50% of the marketable surplus is still handled by the unoranised sector. Of the total milk produced in rural areas around 52 per cent is the marketable surplus. Of this surplus less than half of the milk sold is handled by the organized sector comprising of dairy cooperatives and private dairy companies and the rest by the unorganized sector.
Question 7 of 10
7. Question
2 points
What are the advantages of High yielding varieties of seeds?
Early maturation of crops
Improved response to fertilisers
Improved heights of crops
Low reliance on irrigation and fertilisers
Which of the following statements are correct?
Correct
Answer: A
Explanation:
High-yielding varieties (HYVs) of agricultural crops are usually characterized by a combination of
the following traits in contrast to the conventional varieties:
higher crop yield per area (hectare)
dwarfness
improved response to fertilizers
high reliance on irrigation and fertilizers – see intensive farming
early maturation
So, both 1 and 2 are only correct.
Most important HYVs can be found among wheat, corn, soybean, rice, potato, and cotton. HYVs become popular in the 1960s and play an important role in the green revolution.
Incorrect
Answer: A
Explanation:
High-yielding varieties (HYVs) of agricultural crops are usually characterized by a combination of
the following traits in contrast to the conventional varieties:
higher crop yield per area (hectare)
dwarfness
improved response to fertilizers
high reliance on irrigation and fertilizers – see intensive farming
early maturation
So, both 1 and 2 are only correct.
Most important HYVs can be found among wheat, corn, soybean, rice, potato, and cotton. HYVs become popular in the 1960s and play an important role in the green revolution.
Question 8 of 10
8. Question
2 points
Most of the cultivable land in India is owned by
Correct
Answer: A
The average holding in India is tiny and often split into scattered pieces. Five major categories of land holding are: marginal (below 1 ha), small (1-2 ha), semi-medium (2-4 ha), medium (4-10 ha), large (10ha and above). According to Census 2011, 67 per cent of holdings were classified as marginal (less than one hectare) and 18 per cent were classified as small (one-two hectare). Nearly 80% of the farmers are small and marginal farmers, yet they hold a tiny fraction of the total landholding.
Incorrect
Answer: A
The average holding in India is tiny and often split into scattered pieces. Five major categories of land holding are: marginal (below 1 ha), small (1-2 ha), semi-medium (2-4 ha), medium (4-10 ha), large (10ha and above). According to Census 2011, 67 per cent of holdings were classified as marginal (less than one hectare) and 18 per cent were classified as small (one-two hectare). Nearly 80% of the farmers are small and marginal farmers, yet they hold a tiny fraction of the total landholding.
Question 9 of 10
9. Question
2 points
With reference to agricultural statistics in India, Consider the following statements.
The production of food grains in India has steadily increased post green revolution since the 1960s.
India has presently turned out to host the largest land area certified as organic wild culture in the world.
Which of the following statements are correct?
Correct
Answer: D
Explanation:
Statement 1: Production of food grains has not steadily increases year on year instead there
were years (drought years) were the food grains production was less than the previous years like in 2002-03 where the production was around 150 million tones which was less by about 40 million tonnes from the previous years
Statement 2: India has 4 million hectares of land certified as organic wild culture, which is third in the world (after Finland and Zambia). We are yet to realize the full potential of organic culture. North-eastern states, especially Sikkim, have covered it up well. In fact, Sikkim has become India’s first fully organic state.
Incorrect
Answer: D
Explanation:
Statement 1: Production of food grains has not steadily increases year on year instead there
were years (drought years) were the food grains production was less than the previous years like in 2002-03 where the production was around 150 million tones which was less by about 40 million tonnes from the previous years
Statement 2: India has 4 million hectares of land certified as organic wild culture, which is third in the world (after Finland and Zambia). We are yet to realize the full potential of organic culture. North-eastern states, especially Sikkim, have covered it up well. In fact, Sikkim has become India’s first fully organic state.
Question 10 of 10
10. Question
2 points
In many areas, the adverse impact of Green Revolution was associated with
Loss of soil fertility
Depletion of groundwater table
Widespread fungal infections in surrounding crops
Reduction of Seed replacement ratio to zero
Select the correct answer using the codes below.
Correct
Answer: C
Explanation:
Statement 1 and 2: This was due to increased use of chemical fertilizers. Also, continuous use of
groundwater for tube well irrigation has reduced the water-table below the ground.
Statement 3: An absurd statement. In fact, many HVVs helped reduce fungal infections.
Statement 4: Seed Replacement Ratio is a measure of how much of the total cropped area was sown with certified
seeds in comparison to farm saved seeds.
This has certainly increased post green revolution as farmers started using certified seeds more and more
Incorrect
Answer: C
Explanation:
Statement 1 and 2: This was due to increased use of chemical fertilizers. Also, continuous use of
groundwater for tube well irrigation has reduced the water-table below the ground.
Statement 3: An absurd statement. In fact, many HVVs helped reduce fungal infections.
Statement 4: Seed Replacement Ratio is a measure of how much of the total cropped area was sown with certified
seeds in comparison to farm saved seeds.
This has certainly increased post green revolution as farmers started using certified seeds more and more
