national income & human development index section 2 MCQ Questions & Answers Detailed Explanation

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The following question based on National Income & Human Development Index topic of indian economy mcq

Questions : As per the Human Development Report 2015, consider the following statements.
  1. India ranks 130 out of 188 countries.
  2. HDI is based on the indices for life expectancy education and PPP.
  3. In comparison to other nations in the BRICS, India has the lowest rank.
Which of the statement(s) given above is/are correct?

(a) Only 2

(b) 1 and 2

(c) 1, 2 and 3

(d) 2 and 3

The correct answers to the above question in:

Answer: (d)

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Read more national income human development index Based Indian Economy Questions and Answers

Question : 1

When did the Government of India established the independent Ministry for ‘Women and Child Development’?

a) 1987

b) 1985

c) 1988

d) 1986

Answer: (b)

Question : 2

One of the problems in calculating National Income in India is

a) Inflation

b) Under-employment

c) Non-monetised consumption

d) Low level of savings

Answer: (c)

Question : 3

Who coined the term ‘Hindu rate of growth’ for Indian economy?

a) Kirit S. Parikh

b) A.K. Sen

c) Raj Krishna

d) Montek Singh Ahluwalia

Answer: (c)

The term was coined by Indian economist Raj Krishna.

The Hindu rate of growth is a derogatory term referring to the low annual growth rate of the socialist economy of India before 1991, which stagnated around 3.5% from the 1950s to the 1980s.

Question : 4

In the post-Independence period, economic reforms were first introduced in India under :

a) Indira Gandhi Government (1980)

b) Janata Party Government (1977)

c) Rajiv Gandhi Government (1985)

d) P.V. Narsimha Rao Government (1990)

Answer: (d)

The economy of India had undergone significant policy shifts at the beginning of the 1990s. This new model of economic reforms is commonly known as the LPG or Liberalization, Privatization and Globalization model.

LPG model of economic development in India was proposed by Dr Manmohan Singh, economist and finance minister at that time under the PV Narasimha Rao Government in 1990.

Question : 5

The growth rate of per capita income at current prices is higher than that of per capita income at constant prices, because the later takes into account the rate of

a) increase in price level

b) growth of population

c) increase in the wage rate

d) growth of money supply

Answer: (a)

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