introduction to indian economy section 11 MCQ Questions & Answers Detailed Explanation

Answer: (b)

Answer: (a)

The per capita income of a country is derived from both National Income and population both. Per Capita Income is obtained by dividing National Income by the total population of the country.

Per capita income, also known as income per person, is the mean income of the people in a country.

It is calculated by taking a measure of all sources of income in the aggregate (such as GDP or Gross national income) and dividing it by the total population.

Answer: (b)

Pradhan Mantri Krishi Seenchayi Yojana will converge with rural development schemes like the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) and other schemes of the agriculture ministry and land resources department.

This will help in creating more irrigation assets.

Answer: (a)

Answer: (d)

According to M.S. Swaminathan, agriculture must serve as an instrument of income and livelihood opportunity as well as food production.

He argues that the economic benefits of agro-processing and agribusiness should be taken to poor families through rural value-added enterprises and partnerships with the private sector.

Answer: (b)

The Reserve Bank of India was nationalised on 1 January 1949 under the Reserve Bank (Transfer of Public Ownership) Act, 1948.

Since then, RBI started working as a government-owned central bank of India. It was founded on 1 April 1935.