introduction to indian economy section 12 MCQ Questions & Answers Detailed Explanation

Answer: (b)

The rate of GDP growth is a major indication of the state of the economy of a country. Economic growth is the increase in the market value of the goods and services produced by an economy over time. It is conventionally measured as the per cent rate of increase in gross domestic product.

Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a year, or another given period of time.

Answer: (c)

The Economic Survey of India is a flagship annual document of the Ministry of Finance, Government of India.

It reviews the developments in the Indian economy over the previous 12 months, summarizes the performance of major development programs, and highlights the policy initiatives of the government and the prospects of the economy.

Answer: (b)

Pradhan Mantri Ujjwala Yojana is an ambitious social welfare scheme of the Narendra Modi Government launched on 1 May 2016 from Ballia in Uttar Pradesh.

The scheme aims to provide LPG connections to BPL households in the country and, thus, replace the unclean cooking fuels mostly used in rural India with the clean and more efficient LPG (Liquefied Petroleum Gas).

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)

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.