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UPSC Exam  >  UPSC Notes  >  UPSC Topic Wise Previous Year Questions  >  Structure of the Indian Economy & Demographics - Solved Questions (1995-2001)

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions PDF Download

Question 1: The most appropriate measure of economic growth is its:   [2001]

(a) Gross Domestic Product of a country’s
(b) Net Domestic Product
(c) Net National Product
(d) Per Capita Real Income

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (d)

Per capita real income is nothing but NNP at factor cost. It means national income is sum total of all factor incomes adjusted for increase in prices.

Question 2: Match List I with List II and select the correct answer using the codes given below the lists:    [2001]

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions

(a) A-3; B-1; C-2; D-4
(b) A-4; B-3; C-2; D-1
(c) A-1; B-3; C-2; D-4
(d) A-3; B-1; C-4; D-2

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (a)

Revenue deficit = revenue receipts – Revenue expenditure; Budget deficit = Total receipts – Total expenditure; Fiscal deficit = Revenue receipts + Non-debt creating capital receipts – Total expenditure (F.D. is government borrowings); Primary deficit = Fiscal deficit

– Interest payments.

Question 3: Consider the following taxes:    [2001]

1. Corporation tax
2. Customs duty
3. Wealth tax
4. Excise duty

Which of these is/are indirect taxes?
(a) 1 only
(b) 2 and 4
(c) 1 and 3
(d) 2 and 3

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (b)

Indirect taxes are the charges that are levied on goods and services. Some of the significant indirect taxes include Value Added Tax, Central Sales Tax, Central Excise Duty, Customs Duty, stamp duties and expenditure tax. Property tax, Corporation tax and Wealth tax are examples of direct taxes.

Question 4: The term National Income represents:    [2001]
(a) gross national product at market prices minus depreciation
(b) gross national product at market prices minus depreciation plus net factor income from abroad
(c) gross national product at market prices minus depreciation and indirect taxes plus subsidies
(d) gross national product at market prices minus net factor income from abroad

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (c)

The option (c) gross national product at market price minus depreciation minus indirect tax plus subsidies.

Question 5: Assertion (A): Ceiling on foreign exchange for a host of current account transaction heads was lowered in the year 2000.

Reason (R): There was a fall in foreign currency assets also.     [2001]
(a) Both A and R are individually true and R is the correct explanation of A
(b) Both A and R are individually true but R is not the correct explanation of A
(c) A is true but R is false
(d) A is false but R is true

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (c)

A is true but R is false.

Question 6: The prices at which the government purchases food grains for maintaining the public distribution system and for building up buffer-stock is known as:   [2001]
(a) minimum support prices
(b) procurement prices
(c) issue prices
(d) ceiling prices

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (b)

Procurement price is the support price at which the government will buy whatever quantum farmers wants to sell to the government in the event of private traders not buying the product. This is done to give a fair price to the farmer and to create a buffer stock of food grains to meet public distribution system requirements.

Question 7: In an open economy, the national income (Y) of the economy is: (C, I, G, X, M stand for Consumption, Investment, Govt. Expenditure, total exports and total imports respectively.)    [2000]
(a) Y = C + I + G + X
(b) Y = I + G –X + M
(c) Y = C + I + G + (X – M)
(d) Y = C – G + I + (X – M)

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (c)

Consumption (C), Investment (I), Government purchases (G), X stands for exports and M for imports. Y = C + I + G + X – M

This identity is called national income accounts identity for an open economy. Consumption refers to household expenditure on various goods and services. Goods are of three types: non-durables (such as food and cloth), durables (such as cars and refrigerators) and services (such as haircut, education and medical care).

Question 8: Match List I with List II and select the correct answer using the codes given below the lists:    [2000]

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions

(a) A-1; B-2; C-3; D-4
(b) A-1; B-2; C- 4; D-3
(c) A-2; B-1; C- 4; D-3
(d) A-2; B-1; C-3; D-4

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (a)

Boom is a period of time during which sales of a product or business activity increases very rapidly. In the stock market, booms are associated with bull markets, whereas busts are associated with bear markets. Recession is A significant decline in activity across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale-retail trade. Depression is a severe and prolonged downturn in economic activity. In economics, a depression is commonly defined as an extreme recession that lasts two or more years. Economic Recovery is a period of increasing business activity signaling the end of a recession. Much like a recession, an economic recovery is not always easy to recognize until at least several months after it has begun.

Question 9: Indian Human Development Report does not give for each sample village: [2000]
(a) Infrastructure and Amenities Index
(b) Education Related Index
(c) Health Related Index
(d) Unemployment Related Index

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (d)

The National Human Development Report 2001, is an attempt to map the state of human development in India. While considering the state of human development, and the related economic, educational and health attainments, the report analyses governance for human development. To facilitate monitoring, many process indicators have been created. The Human Development Index, Gender Disparity Index and Human Poverty Index have been calculated for India after modifying the UNDP methodology.

Question 10: Consider the following statements about the megacities of India:    [2000]
1. Population of each megacity is more than 5 million
2. All the megacities are important sea ports
3. Megacities are either national or state capitals

Which of these statements are correct ?
(a) 1, 2 and 3
(b) 1 and 2
(c) 2 and 3
(d) 1 and 3

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (d)

Megacities of India have more than 5 million population. But not all the major megacities are located on the sea coast or are sea ports. Delhi, which is the national capital is not a sea port.

Question 11: Which one of the following ports of India handles the highest tonnage of import cargo?   [2000]
(a) Calcutta
(b) Kandla
(c) Mumbai
(d) Vishakhapatnam

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (b)

Kandla Port handled the highest volume of traffic at (81.12 MT), followed by paradip (74.40MT), JNPT (48.89 MT) Mumbai (47.53 MT) and Visakhapatnam (46.56 MT) during April to December 2017

Question 12: This question is based on the following table. Study the same carefully and attempt the question that follow:

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions

Which one of the following statements is false?    [2000]
(a) All countries other than India have over 80% literacy
(b) Malaysia and Korea have life expectancy higher than all other countries
(c) Higher the adult literacy lower is the infant mortality
(d) The life expectancy at birth in India is almost the same as that of Indonesia

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (d)

According to the table given above, the life expectancy at birth in India is not same as that of Indonesia. India = 62.4, Indonesia = 64.

Question 13: 
Assertion (A): Devaluation of a currency may promote export.    [1999]
Reason (R): Price of the country’s products in the international market may fall due to devaluation.
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true but R is not a correct explanation of A
(c) A is true but R is false
(d) A is false but R is true

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (a)

Devaluation is a deliberate downward adjustment to the value of a country’s currency relative to another currency, group of currencies or standard. It is a monetary policy tool used by countries that have a fixed exchange rate or semi-fixed exchange rate. After devaluation of the currency, country’s goods become cheaper for foreigners and become more competitive in a global market. This leads to increase in exports.

Question 14: Assertion (A): Fiscal deficit is greater than budgetary deficit.

Reason (R): Fiscal deficit is the borrowing from the Reserve Bank of India plus other liabilities of the Government to meet its expenditure.    [1999]
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true but R is not a correct explanation of A
(c) A is true but R is false
(d) A is false but R is true

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (a)

Budget deficit = Total Receipts – Total Expenditure

Fiscal deficit is the sum of Budget deficit plus Borrowings and other liabilities. Hence, fiscal deficit is greater than budgetary deficit.

Question 15: Persons below the poverty line in India are classified as such based whether:  [1999]
(a) they are entitled to a minimum prescribed food basket
(b) they get work for a prescribed minimum number of days in a year
(c) they belong to agricultural labourer household and the scheduled caste/tribe social group
(d) their daily wages fall below the prescribed minimum wages

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (a)

Till 2011, India used to define the poverty line based on a method defined by a task fore in 1979. It was based on expenditure for buying food worth 2,400 calories in rural areas, and 2,100 calories in Urban areas.
In 2011, the Suresh Tendulkar Committee defined the poverty line on the basis of monthly spending on food, education, health, electricity and transport. However, this has also faced criticism. The NDA government has now constituted a 14-member task force under NITI Aayog’s vice-chairman Arvnd Panagariya to come out with recommendations for a realistic poverty line.

Question 16: Which one of the following statements regarding the levying, collecting and distribution of Income Tax is correct?    [1999]
(a) The Union levies, collects and distributes the proceeds of income tax between itself and the states
(b) The Union levies, collects and keeps all the proceeds of income tax to itself
(c) The Union levies and collects the tax but all the proceeds are distributed among the states
(d) Only the surcharge levied on income tax is shared between the Union and the states

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (a)

Income tax is levied and collected by Union government or the central government and distributed between itself and states.

Question 17: Among which one of the following sets of social/religious groups is the extent of poverty the highest, as per Government statistics for the nineties?    [1999]
(a) Muslims in Kerala, Gujarat and A.P.
(b) Tribals in Bihar, Orissa, M.P. and Maharashtra
(c) Scheduled Caste in Punjab, Western UP, Northern Rajasthan and Tamil Nadu
(d) Christians in Gujarat, Maharashtra and Assam

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (b)

According to the recent data made available by Central Statistical Organisation, the incidence of poverty is highest in tribes of Bihar, Orissa and Madhya Pradesh.

Question 18: The first Indian State to have its Human Development Report prepared and released by Amartya Kumar Sen in Delhi is: [1999]
(a) West Bengal
(b) Kerala
(c) Madhya Pradesh
(d) Andhra Pradesh

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (c)

Madhya Pradesh was the first state to have calculated Human Development Report in 1995, under the guidance of Prof. Amartya Sen.

Question 19: The Capital Account Convertibility of the Indian Rupee implies:    [1998]
(a) that the Indian Rupee can be exchanged by the authorised dealers for travel
(b) that the Indian Rupee can be exchanged for any major currency for the purpose of trade in goods and services
(c) that the Indian Rupee can be exchanged for any major currency for the purpose of trading financial assets
(d) None of the above

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (c)

Capital account convertibility means free conversion of cross-border capital flows. Any entity can convert domestic currency into hard currency at the prevailing market rate and take hard currency out of the country without the need of offering any explanation.

Question 20: A consumer is said to be in equilibrium, if:    [1998]
(a) he is able to fulfil his need with a given level of income
(b) he is able to live in full comforts with a given level of income
(c) he can fulfil his needs without consumption of certain items
(d) he is able to locate new sources of income

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (a)

A consumer is said to be in equilibrium when he feels that he “cannot change his condition either by earning more or by spending more or by changing the quantities of thing he buys”. A rational consumer will purchase a commodity up to the point where the price of the commodity is equal to the marginal utility obtained from the thing.

Question 21: The supply-side economics lays greater emphasis on the point of view of:    [1998]
(a) producer
(b) global economy
(c) consumer
(d) middle-man

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (a)

Supply-side economics is a school of macroeconomics that argues that economic growth can be most effectively created by lowering barriers for people to produce (supply) goods and services as well as invest in capital. The investment and expansion of businesses will increase the demand for employees. Typical policy recommendations of supply side economists are lower marginal tax rates and less regulation.

Question 22: Human Poverty Index was introduced in the Human Development Report of the year:    [1998]

(a) 1994
(b) 1995
(c) 1996
(d) 1997

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (d)

The Human Poverty Index (HPI) was an indication of the Standard of living in a country, developed by the United Nations (UN) to complement the Human Development Index (HDI) and was first reported as a part of the Human Development Report in 1997. In 2010, it was supplanted by the UN’s Multidimensional Poverty Index.

Question 23: The current Price Index (base 1960) is nearly 330. This means that the price of:    [1998]
(a) all items cost 3.3 times more than what they did in 1960
(b) the price of certain selected items have gone upto 3.3 times
(c) weighted mean of price of certain items has increased 3.3 times
(d) gold price has gone up 3.3 times

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (c)

A price index is a normalized average (typically a weighted average) of price relatives for a given class of goods or services in a given region, during a given interval of time. The current Price Index (base 1960) is nearly 330. This means that the price of the weighted mean of price of certain items has increased 3.3 times.

Question 24: Human Development Index comprises literacy rates, life expectancy at birth and    [1997]
(a) Gross National Product per head in the US dollars
(b) Gross Domestic Product per head at real purchasing power
(c) Gross National Product in US dollars
(d) National Income per head in US dollars

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (d)

HDI or Human Development Index measures achievements in terms of life expectancy, literacy and adjusted real income (standard of living). First HDR calculations were made in 1990 by Mehboob-ul-Huq.

Question 25: In India, inflation is measured by the:    [1997]
(a) Wholesale Price Index number
(b) Consumers Price Index for urban non-manual workers
(c) Consumers Price Index for agricultural workers
(d) National Income Deflation

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (a)

Wholesale Price Index (WPI) is an index used by the Reserve Bank of India till 2014 to measure inflation. WPI is the price of a representative basket of wholesale goods. It takes a basket of 697 items into account and shows the combined prices. The RBI, ex-governor Raghuram Rajan, Shifted to consumer Price Index (CPI) is because WPI neglects services and the bottlenecks between a wholesaler and a retailer. CPI, based on 260 commodities including certain services, measures the change in Prices at the retail level. The base year of CPI is 2012.

Question 26: Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R).   [1997]
Assertion (A): The emergence of economic globalism does not imply the decline of socialist ideology.
Reason (R): The ideology of socialism believes in Universalism and globalism. 

In the context of the above two statements which one of the following is correct?
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true but R is not the correct explanation of A
(c) A is true but R is false
(d) A is false but R is true

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (a)

Globalism is the policy of placing the interests of the world above those of individual nations. This also means that there would be free movement of goods and services across national boundaries. Socialism is an economic system based on state ownership of means of production including capital. Universalism means application of certain basic principles at universal level.

Question 27: National Income is:   [1997]
(a) Net National Product at market price
(b) Net National Product at factor cost
(c) Net Domestic Product at market price
(d) Net Domestic Product at factor cost

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (b)

National Income is the money value of all final goods and services produced in an economy during a financial year. At the level of an economy, value of final goods and services is equal to the total income of all factors of production viz labour, capital, land and entrepreneurship.

Question 28: The Minimum Alternative Tax (MAT) was introduced in the Budget of the Government of India for the year:    [1997]

(a) 1991-92
(b) 1992-93
(c) 1995-96
(d) 1996-97

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (d)

MAT or Minimum Alternative Tax was introduced in the budget of 1996-97. Under MAT a company is required to pay a minimum tax of 7% of the book profit in case the tax on the total income computed under the normal provisions of law works out to less than this amount.

Question 29: Match List-I with List-II and select the correct answer.    [1997]

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions
(a) A- 1, B- 4, C-2, D -3
(b) A- 4, B- 2, C-1, D -3
(c) A- 4, B- 1, C-2, D -3
(d) A- 1, B- 3, C-4, D -2

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (b)

Chelliah Committee on Tax Reforms – 1993; Omkar Goswami Committee on Industrial Sickness – 1994; Rangarajan Committee on Disinvestment of Shares in PSUs – April 1993; RN Malhotra Committee on Reforms in Insurance Sector – 1993.

Question 30: What is the correct sequence of the descending order of the following States in respect of female literacy rates as per the 2001 census?     [1997]

1. Mizoram
2. Kerala
3. Goa
4. Nagaland

Choose the correct answer using the codes given below:

(a) 2, 1, 3, 4
(b) 2, 3, 4, 1
(c) 2, 4, 1, 3
(d) 1, 2, 4, 3

Correct Answer is Option (a)

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

According to 2001 census the correct sequence in descending order of the states for female literacy rate is Kerala - 87.7%, Mizoram - 86.7%, Goa - 76.5%, Nagaland - 61.5%.

Question 31: Which one of the following is correct regarding stabilization and structural adjustment as two components of the new economic policy adopted in India?   [1996]
(a) Stabilization is a gradual, multi-step process while structural adjustment is a quick adaptation process
(b) Structural adjustment is a gradual multi-step process, while stabilization is a quick adaptation process
(c) Stabilization and structural adjustment are very similar and complimentary policies. It is difficult to separate one from the other
(d) Stabilization mainly deals with a set of policies which are to be implemented by the Central government while structural adjacent is to be set it motion by the State governments

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (a) 

New Economic Policy was adopted in 1991 based on Rao-Manmohan model. Stabilization component of any economy is essentially a short-term programme while the structural readjustment component is a long term process.

Question 32: One of the important goals of the economic liberalisation policy is to achieve full convertibility of the Indian rupee. This is being advocated because:    [1996]
(a) convertibility of the rupee will stabilize its exchange value against major currencies of the world
(b) it will attract more foreign capital inflow in India
(c) it will help to promote exports
(d) it will help India secure loans from the world financial markets at attractive terms

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (b)

The full convertibility of the Indian currency means that the rupee is freely exchangeable into other international currencies and vice versa. Also, this would mean that international investors can buy and sell Indian assets at will. After 1994, the rupee has been partially convertible which means that the currency is changed freely into foreign currency for business and trade expenses. But it cannot be converted freely for acquiring overseas assets. Experts feel full convertibility of rupee would facilitate growth and higher foreign investments.

Question 33: Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R):   [1996]
Assertion (A): Though India’s national income has gone up several fold since 1947, there has been no marked improvement in the per capita income level.

Reason (R): Sizeable proportion of the population of India is still living below the poverty line.
In the context of the above two statements which one of the following is correct?
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true but R is not a correct explanation of A
(c) A is true but R is false
(d) A is false but R is true

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (b)

There is no relation between the proportion of population of India living below the poverty line and Increase in India’s national income.

Question 34: A redistribution of income in a country can be best brought about through: [1996]
(a) progressive taxation combined with progressive expenditure
(b) progressive taxation combined with regressive expenditure
(c) regressive taxation combined with regressive, expenditure
(d) regressive taxation combined with progressive expenditure

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (b)

Progressive Tax is a process in which as the income of a person increases, rate of income tax on the income also goes up. Regressive Expenditure is a process in which government spending decreases with the increase in income of people and government tends to spend more on poor in comparison to rich people.

Question 35: As per the 1991 Census, the average size of households in terms of number of persons per household in respect of the given states follows the sequence (highest first, lowest last)   [1996]
(a) Haryana, Uttar Pradesh, Kerala, Tamil Nadu
(b) Uttar Pradesh, West Bengal, Gujarat, Kerala
(c) Gujarat, Haryana, Uttar Pradesh, West Bengal
(d) Uttar Pradesh, West Bengal, Tamil Nadu, Kerala

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (b)

Uttar Pradesh, West Bengal, Gujarat, Kerala

Question 36: According to the 1991 Census, the highest percentage of population in India is to be found in the age group of: [1995]

(a) 60 years and above
(b) 35 to 55 years
(c) 25 to 34 years
(d) 5 to 14 years

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (d)

The highest percentage of population in India in 1991 is in the age group of 5-14 years.

Question 37:  Which of the following pairs are correctly matched?   [1995]
1. Increase in—Monetary expansion
2. Low import growth rate in India-Recession in Indian industry
3. Euro-issues—Shares held by Indian companies in European countries
4. Portfolio investment—Foreign institutional investors.
(a) 1, 2 and 4
(b) 3 and 4
(c) 1, 2 and 3
(d) 1, 2, 3 and 4

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (a)

Euro issue includes issue of ADR (American Depositary Receipts) and GDR (Global Depositary Receipts). A scheme has been initiated during 1992 under which Indian companies are permitted to raise foreign currency resources through issue of Foreign Currency Convertible Bonds (FCCBs) and/or issue of ordinary equity shares through Global Depositary Receipts (GDRs)/American Depositary Receipts (ADRs) to foreign investors i.e. institutional investors or individuals (including NRIs) residing abroad.

Question 38: Which one of the following is true regarding the Jawahar Rozgar Yojana (JRY)?    [1995]
(a) It was launched during the Prime Ministership of Indira Gandhi
(b) It aims at creating one million jobs annually
(c) The target group of JRY are the urban poor living below the poverty line
(d) Under the scheme 30% of the employment generated is reserved for women

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (d)

Though the people below the poverty line were the target group for employment, the preference was to be given to the Scheduled Castes, Scheduled Tribes and freed bonded labourers. Thirty percent of the employment opportunities were to be reserved for women in rural areas.

Question 39: The Narasimham Committee for financial sector Reforms has suggested reduction in    [1995]
(a) SLR and CRR
(b) SLR, CRR and Priority Sector Financing
(c) SLR and Financing to capital goods sector
(d) CRR, Priority Sector Financing and Financing to capital  goods sector

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (b)

Narasimham Committee for Financial Sector Reforms (1991) has suggested reduction in SLR, CRR and priority sector financing reducing it from 40% to 10%. Most of the suggestion of the committee were not implemented.

Question 40: Corporation tax:    [1995]
(a) is levied and appropriated by the States
(b) is levied by the Union and collected and appropriated by the States
(c) is levied by the Union and shared by the Union and the States
(d) is levied by the Union and belongs to it exclusively

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (d)

Corporation tax is a direct tax levied, collected and appropriated by the Union or the central government. No part of this tax can be assigned to the states.

Question 41: One of the reasons for India’s occupational structure remaining more or less the same over the years has been that:    [1995]

(a) investment pattern has been directed towards capital intensive industries
(b) productivity in agriculture has been high enough to induce people to stay with agricultural
(c) ceiling on land holdings have enabled more people to own land and hence their preference to stay with agriculture
(d) people are largely unaware of the significance of transition from agriculture to industry for economic development

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (a)

Our economic planners are not emphasizing development of small scale industries in their plan strategies.

Question 42: The main reason for low growth rate in India, inspite of high rate of savings and capital formation is:    [1995]
(a) high birth rate
(b) low level of foreign and
(c) low capital output ratio
(d) high capital output ratio

Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) | UPSC Topic Wise Previous Year Questions  View Answer

Correct Answer is Option (d)

Capital output ratio is the amount of capital needed to produce one unit of output.
It explains the relationship between level of investment and the corresponding economic growth lower capital output ratio Shows productivity of capital and technological progress.

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FAQs on Structure of the Indian Economy & Demographics - Solved Questions (1995-2001) - UPSC Topic Wise Previous Year Questions

1. What is the structure of the Indian economy?
Ans. The Indian economy can be classified into three sectors: the primary sector, the secondary sector, and the tertiary sector. The primary sector includes agriculture, forestry, fishing, and mining. The secondary sector comprises industries that process raw materials and manufacture goods. The tertiary sector consists of services such as banking, education, healthcare, and tourism. This three-sector structure reflects the overall composition and contribution of different sectors to the Indian economy's GDP.
2. What are the key demographics of India?
Ans. India has a vast and diverse population. As of the latest available data, the country has a population of over 1.3 billion people. The demographics of India include various aspects such as age distribution, gender ratio, literacy rate, and urbanization. The country has a relatively young population, with a significant percentage of individuals below the age of 35. The gender ratio is skewed, with a higher proportion of males compared to females. The literacy rate has been steadily increasing, although regional disparities exist. Urbanization is also on the rise, with a growing number of people living in cities and towns.
3. How has the structure of the Indian economy evolved over the years?
Ans. The structure of the Indian economy has undergone significant changes over the years. Initially, the economy was primarily agrarian, with agriculture being the main source of livelihood for a majority of the population. However, with industrialization and economic reforms, the share of the secondary sector, including manufacturing and industries, increased. In recent years, the tertiary sector has emerged as the largest contributor to the Indian economy's GDP. This shift reflects the changing dynamics of the economy, with a greater emphasis on services and technology-driven sectors.
4. What are the key challenges faced by the Indian economy in terms of its structure?
Ans. The Indian economy faces several challenges in terms of its structure. One key challenge is the dominance of the informal sector, which comprises a significant portion of the economy but lacks formal regulations and social security benefits. Another challenge is the regional imbalance, with certain states and regions experiencing higher economic growth compared to others. Additionally, there is a need to improve the agricultural sector's productivity and sustainability to ensure food security and reduce rural-urban migration. Balancing the growth of different sectors and addressing income inequality are also critical challenges.
5. How do the demographics of India impact its economy?
Ans. The demographics of India have a direct impact on its economy. The large population provides a significant consumer base and a potential workforce. The young population can contribute to economic growth and innovation. However, it also poses challenges in terms of providing education, healthcare, and employment opportunities. The gender ratio imbalance can affect social and economic dynamics. Furthermore, the urbanization trend requires adequate infrastructure development to support the growing urban population. Understanding and addressing the demographics are crucial for formulating effective policies and strategies to ensure sustainable economic development.
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