inclusive growth, sustainable development & employment section 3 MCQ Questions & Answers Detailed Explanation
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The following question based on Inclusive growth, Sustainable development and employment topic of indian economy mcq
(a) National Water Policy - 2002
(b) New National Mineral Policy - 2008
(c) National Population Policy – 2012
(d) New National Forest Policy - 1988
The correct answers to the above question in:
Answer: (c)
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Question : 1
The Mudra Yojana of Government of India is designed to
a) initiate reforms in the currency management
b) supplement the Jan Dhan Yojana
c) provide easy financial assistance to set up small business
d) provide loans to poor farmers
Answer »Answer: (c)
Question : 2
Which of the following statements are true regarding “Inclusive growth”?
- Inclusive growth is fuelled by market-driven sources of growth
- Inclusive growth focuses on productive employment
- Inclusive growth focuses on income redistribution
a) (ii) & (iii) only
b) (i) & (ii) only
c) (i) & (iii) only
d) All of the above
Answer »Answer: (b)
Inclusive growth is typically fuelled by market-driven sources of growth with the government playing a facilitating role. Inclusive growth focuses on both the pace and pattern of growth.
How growth is generated is critical for accelerating poverty reduction, hence it focuses on productive employment rather than income redistribution.
Question : 3
Consider the following statements regarding employment elasticity:
- It measures the percentage change in economic growth with respect to a 1% increase in employment
- The agriculture sector has more employment elasticity as compared to other sectors of the economy
a) Both (i) & (ii)
b) (i) only
c) (ii) only
d) Neither (i) nor (ii)
Answer »Answer: (c)
Employment Elasticity (of growth) is a measure of percentage change in employment associated with 1 percentage change in economic growth.
Employment elasticity = % change in employment/ % change in economic growth
Employment elasticity of 0.01 implies that with every 1 percentage point growth in GDP, employment increases by just .01 per cent. Employment elasticity is falling consistently from 0.4 in the 1990s to 0.2 in 2014 and then 0.1 now.
The agriculture sector is highly labour-intensive employing around 47% of the labour force to produce 16% of GDP. So, the employment elasticity of the agriculture sector is more.
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