introduction to indian economy section 7 MCQ Questions & Answers Detailed Explanation

Answer: (d)

India has not yet achieved the goal of balanced economic development. Balanced Growth mentions to a definite type of economic growth that is maintainable in the long term. Balanced growth is contrasting to the high and low nature of economic cycles.

According to the latest data available about 64% of the total labour force is dependent on agriculture, 16% on industries and the rest about 20% on trade, transport and other services.

Answer: (c)

Answer: (b)

The Swarna Jayanti Shahari Rozgar Yojana (SJSRY) seeks to provide gainful employment to the urban unemployed or underemployed through the setting up of self-employment ventures or provision of wage employment.

It is a Centrally Sponsored Scheme which came into effect on 1 December 1997.

Answer: (b)

At present, the index is being developed only for the residential housing sector.

However, at a later stage, the index could be expanded to develop separate indices for commercial property and land. Primary data on housing prices is being collected from real estate agents by commissioning the services of private consultancy/research organisations of national repute.

In addition, data on housing prices is also being collected from the housing finance companies and banks, which is based on housing loans contracted by these institutions.

Answer: (d)

Answer: (d)

There are primarily two types of economies capitalist or free-market economy and socialist economy. A mixed economy is a median between these two main economies taking some characteristics of either of them. We have adopted a mixed economy in India.

All the basic industries such as railways, post and telegraph, defence production, atomic energy etc. are in the public sector. Industries dealing with consumer goods are in the private sector. India has a pubic private partnership economy.