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The government in its budget has announced the construction of seven textile parks under the scheme of mega-investment textile parks. Which objective of the government budget is most likely being reflected here? (Choose the correct alternative).
- a)Reallocation of resources
- b)Redistribution of income
- c)Bringing economic stability
- d)Reducing fluctuations in the general price lev el
Correct answer is option 'A'. Can you explain this answer?
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The government in its budget has announced the construction of seven t...
The Union Cabinet approved the setting up of seven Mega Integrated Textile Region and Apparel (PM MITRA) Parks at an outlay of Rs. 4,445 crore.The MITRA park aims to integrate the entire textile value chain from spinning, weaving, processing/dyeing, printing to garment manufacturing at one location. Reallocation of resources helps to distribute resources, keeping in view the social and economic advantages of the country.
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The government in its budget has announced the construction of seven t...
Objective of the government budget reflected:
The objective of the government budget reflected in the announcement of the construction of seven textile parks under the scheme of mega-investment textile parks is the reallocation of resources.
Explanation:
Reallocation of resources refers to the process of redistributing resources from one sector or area to another in order to achieve economic growth and development. This objective is often pursued by governments to address imbalances in the economy and promote the efficient use of resources.
In this case, the government's decision to construct textile parks reflects the intention to reallocate resources towards the textile industry. By creating these parks, the government aims to attract investment and promote the growth of the textile sector. This reallocation of resources is expected to have several benefits, including job creation, increased production, and export opportunities.
Benefits of reallocation of resources through textile parks:
1. Job creation: The construction of textile parks will lead to the creation of job opportunities in the textile industry. This is particularly important in countries with a large population and high unemployment rates.
2. Increased production: The textile parks will provide a conducive environment for textile manufacturers, leading to increased production capacity. This will help meet the growing demand for textile products both domestically and internationally.
3. Export opportunities: The development of textile parks will enhance the competitiveness of the textile sector, making it easier for manufacturers to export their products. This will contribute to the growth of exports and improve the country's balance of trade.
4. Efficient use of resources: By concentrating textile production in designated parks, resources such as land, infrastructure, and utilities can be utilized more efficiently. This can lead to cost savings and improved productivity.
5. Technological advancements: The establishment of textile parks often involves the adoption of modern technology and manufacturing processes. This can lead to technological advancements in the sector and drive innovation.
Overall, the construction of textile parks under the scheme of mega-investment textile parks reflects the government's objective of reallocation of resources. By focusing on the textile industry, the government aims to stimulate economic growth, create employment opportunities, and enhance the country's competitiveness in the global market.
The objective of the government budget reflected in the announcement of the construction of seven textile parks under the scheme of mega-investment textile parks is the reallocation of resources.
Explanation:
Reallocation of resources refers to the process of redistributing resources from one sector or area to another in order to achieve economic growth and development. This objective is often pursued by governments to address imbalances in the economy and promote the efficient use of resources.
In this case, the government's decision to construct textile parks reflects the intention to reallocate resources towards the textile industry. By creating these parks, the government aims to attract investment and promote the growth of the textile sector. This reallocation of resources is expected to have several benefits, including job creation, increased production, and export opportunities.
Benefits of reallocation of resources through textile parks:
1. Job creation: The construction of textile parks will lead to the creation of job opportunities in the textile industry. This is particularly important in countries with a large population and high unemployment rates.
2. Increased production: The textile parks will provide a conducive environment for textile manufacturers, leading to increased production capacity. This will help meet the growing demand for textile products both domestically and internationally.
3. Export opportunities: The development of textile parks will enhance the competitiveness of the textile sector, making it easier for manufacturers to export their products. This will contribute to the growth of exports and improve the country's balance of trade.
4. Efficient use of resources: By concentrating textile production in designated parks, resources such as land, infrastructure, and utilities can be utilized more efficiently. This can lead to cost savings and improved productivity.
5. Technological advancements: The establishment of textile parks often involves the adoption of modern technology and manufacturing processes. This can lead to technological advancements in the sector and drive innovation.
Overall, the construction of textile parks under the scheme of mega-investment textile parks reflects the government's objective of reallocation of resources. By focusing on the textile industry, the government aims to stimulate economic growth, create employment opportunities, and enhance the country's competitiveness in the global market.
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The government in its budget has announced the construction of seven textile parks under the scheme of mega-investment textile parks. Which objective of the government budget is most likely being reflected here? (Choose the correct alternative).a)Reallocation of resourcesb)Redistribution of incomec)Bringing economic stabilityd)Reducing fluctuations in the general price lev elCorrect answer is option 'A'. Can you explain this answer?
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The government in its budget has announced the construction of seven textile parks under the scheme of mega-investment textile parks. Which objective of the government budget is most likely being reflected here? (Choose the correct alternative).a)Reallocation of resourcesb)Redistribution of incomec)Bringing economic stabilityd)Reducing fluctuations in the general price lev elCorrect answer is option 'A'. Can you explain this answer? for Humanities/Arts 2024 is part of Humanities/Arts preparation. The Question and answers have been prepared according to the Humanities/Arts exam syllabus. Information about The government in its budget has announced the construction of seven textile parks under the scheme of mega-investment textile parks. Which objective of the government budget is most likely being reflected here? (Choose the correct alternative).a)Reallocation of resourcesb)Redistribution of incomec)Bringing economic stabilityd)Reducing fluctuations in the general price lev elCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Humanities/Arts 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The government in its budget has announced the construction of seven textile parks under the scheme of mega-investment textile parks. Which objective of the government budget is most likely being reflected here? (Choose the correct alternative).a)Reallocation of resourcesb)Redistribution of incomec)Bringing economic stabilityd)Reducing fluctuations in the general price lev elCorrect answer is option 'A'. Can you explain this answer?.
The government in its budget has announced the construction of seven textile parks under the scheme of mega-investment textile parks. Which objective of the government budget is most likely being reflected here? (Choose the correct alternative).a)Reallocation of resourcesb)Redistribution of incomec)Bringing economic stabilityd)Reducing fluctuations in the general price lev elCorrect answer is option 'A'. Can you explain this answer? for Humanities/Arts 2024 is part of Humanities/Arts preparation. The Question and answers have been prepared according to the Humanities/Arts exam syllabus. Information about The government in its budget has announced the construction of seven textile parks under the scheme of mega-investment textile parks. Which objective of the government budget is most likely being reflected here? (Choose the correct alternative).a)Reallocation of resourcesb)Redistribution of incomec)Bringing economic stabilityd)Reducing fluctuations in the general price lev elCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Humanities/Arts 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The government in its budget has announced the construction of seven textile parks under the scheme of mega-investment textile parks. Which objective of the government budget is most likely being reflected here? (Choose the correct alternative).a)Reallocation of resourcesb)Redistribution of incomec)Bringing economic stabilityd)Reducing fluctuations in the general price lev elCorrect answer is option 'A'. Can you explain this answer?.
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