national income & human development index section 5 MCQ Questions & Answers Detailed Explanation
MOST IMPORTANT indian economy mcq - 5 EXERCISES
The following question based on National Income & Human Development Index topic of indian economy mcq
- Rapid rise in population
- Rapid rise in prices
- Slow pace of progress in agriculture and industrial fields
- Non-availability of foreign exchange
(a) Only 1 and 3
(b) Only 1 and 2
(c) All of these
(d) Only 1 and 4
The correct answers to the above question in:
Answer: (a)
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Question : 1
Human Development Index (HDI) comprises literacy rates, life expectancy at birth and
a) Gross Domestic Product per head at real purchasing power
b) Gross Domestic Product per head in US Dollars
c) National Income per head in US Dollars
d) Gross National Product in US Dollars
Answer »Answer: (c)
Question : 2
To obtain full benefits of demographic dividend, what should India do ?
- Promoting skill development
- Introducing more social security schemes
- Reducing infant mortality rate
- Privatisation of higher education
a) None of the above
b) 2 only
c) 1 only
d) 3 and 4 only
Answer »Answer: (c)
To rip maximum demographic dividend, India has to promote skill development. This is what Economic Survey and 12th FYP have been advocating.
Question : 3
Consider the following statements :
- LPG model of the Indian Economy was fully implemented in the Eighth Five Year plan.
- The Eighth plan envisaged an annual average growth rate of 5.6% but the real growth rate was 6.8%.
a) only 2
b) only 1
c) Both 1 and 2
d) Neither 1 nor 2
Answer »Answer: (c)
The economy of India had undergone significant policy shifts at the beginning of the 1990s at the time of the eighth plan. 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.
Moreover, the Eighth plan envisaged an annual average growth rate of 5.6% but the real growth rate was 6.8%.
Question : 4
The Multi-Dimensional Poverty India developed by Oxford Poverty and Human Development Initiative with UNDP support covers which of following?
- Deprivation of Education, health, assets and services at household level.
- Purchasing power parity at national level.
- Extent of budget deficit and GDP growth rate at national level.
a) 1 and 3
b) Only 1
c) 1, 2 and 3
d) 2 and 3
Answer »Answer: (b)
Question : 5
Consider the following statements about the LPG model of economic development process in India?
- Disinvestment of profit making public sector Enterprises.
- Permitting private sectors to establish Industrial Units without taking a licence.
- Chronically sick industries were referred to BIFR for the formulation of revival or rehabilitation plan.
a) 1 and 3
b) 1, 2 and 3
c) 2 and 3
d) only 2
Answer »Answer: (b)
LPG model of economic development process in India involves disinvestment of profit making public sector enterprises, permitting private sectors to establish industrial units without taking a licence and chronically sick industries were referred to BIFR for the formulation of revival or rehabilitation.
Question : 6
Economic liberalization in India started with?
a) Doing away with procedural formalities for foreign direct investment
b) The convertibility of Indian rupees
c) Substantial changes in industrial licensing policy
d) Significant reduction in tax rates
Answer »Answer: (c)
With the introduction of Economic liberalisation requirement for government licensing has been abolished except for a small list of strategic and potentially hazardous industries and a few industries which are reserved for the small scale sector.
For most industries however industrial investment has been effectively delicensed and investors are free to set up new units or expand existing units subject only to environmental clearances.
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