IAS Previous Year ECONOMY Questions – Lecture – 5
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Q.1) Which one of the following is correct regarding stabilization and structural adjustment as two components of the new economic policy adopted in India? (1996)
a) Stabilization is a gradual, multi-step process while structural adjustment is a quick adaptation process
b) Structural adjustment is a gradual multi-step process, while stabilization is a quick adaptation process
c) Stabilization and structural adjustment are very similar and complimentary policies. It is difficult to separate one from the other
d) Stabilization mainly deals with a set of policies which are to be implemented by the Central government while structural adjacent is to be set it motion by the State governments
Q.2) Economic liberalisation in India started with: (2000)
a) substantial changes in industrial licensing policy
b) the convertibility of Indian rupee
c) doing away with procedural formalities for foreign direct investment
d) significant reduction in tax rates
Q.3) Given below are two statements, one labelled as
Assertion (A) and the other labelled as Reason (R). (1996) Assertion (A) : An important policy instrument of economic liberalization is reduction in import duties on capital goods.
Reason (R) : Reduction in import duties would help the local entrepreneurs to improve technology to face the global markets.
In the context of the above two statements, which one of the following is correct?
a) Both A and R are true and R is the correct explanation
b) Both A and R are true R is not a correct explanation
c) A is true but R is false
d) A is false but R is true
Q.4) Which of the following has/have occurred in India after its liberalization of economic policies in 1991? (2017)
1. Share of agriculture in GDP increased enormously.
2. Share of India’s exports in world trade increased.
3. FDI inflows increased.
4. India’s foreign exchange reserves increased enormously.
Select the correct answer using the codes given below.
a) 1 and 4 only
b) 2,3 and 4 only
c) 2 and 3 only
d) 1,2,3 and 4
Q.5) Since 1980, the share of the tertiary sector in the total GDP of India has: (1999)
a) shown an increasing trend
b) shown a decreasing trend
c) remained constant
d) been fluctuating
Q.6) One of the reasons for India’s occupational structure remaining more or less the same over the years has been that: (1995)
a) investment pattern has been directed towards capital intensive industries
b) productivity in agriculture has been high enough to induce people to stay with agricultural
c) ceiling on land holdings have enabled more people to own land and hence their preference to stay with agriculture
d) people are largely unaware of the significance of transition from agriculture to industry for economic development