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HomeSoftware DevelopmentCBSE Class 12 Economics Solved Query Paper 2020 - Set 3

CBSE Class 12 Economics Solved Query Paper 2020 – Set 3


Economics (Code No. 58/3/1) 

Time allowed : 3 hours
Most Marks: 80

Basic Directions: 

Learn the next directions very rigorously and strictly comply with them : 

(i) This query paper contains two sections – A and B. All questions are obligatory. 

(ii) Query numbers 1 – 10 and 18 – 27 are very short-answer questions carrying 1 mark every. They’re required to be answered in a single phrase or one sentence every.  

(iii) Query numbers 11 – 12 and 28 – 29 are short-answer questions carrying 3 marks every. Solutions to them mustn’t usually exceed  60 – 80 phrases every. 

(iv) Query numbers 13 – 15 and 30 – 32 are additionally short-answer questions carrying 4 marks every. Solutions to them mustn’t usually exceed  80 – 100 phrases every.  

(v) Query numbers 16 – 17 and 33 – 34 are lengthy reply questions carrying 6 marks every. Solutions to them mustn’t usually exceed  100 – 150 phrases every.  

(vi) Solutions ought to be transient and to the purpose. Additionally, the above phrase restrict be adhered to so far as potential.  

(vii) There isn’t a general alternative. Nevertheless, an inner alternative has been supplied in 2 questions of 1 mark, 2 questions of three marks, 2 questions of 4 marks and a pair of questions of six marks. Solely one of many selections in such questions must be tried.  

(viii) Along with this, separate directions are given with every part and query, wherever obligatory.

Part – A

(Macroeconomics)

1. Which of the next just isn’t a non-tax income receipt? (Select the right different) 

(A) Items and Companies Tax

(B) Exterior grants

(C) Dividends and income 

(D) Disinvestment 

Reply: (A) Items and Companies Tax

2. Deflationary hole signifies _________ (extra/poor) demand in an financial system. (Fill within the clean with appropriate reply) 

Reply: poor 

3. State, whether or not the next assertion is true or false : 

‘‘Authorities price range is an annual assertion displaying precise receipts and precise funds of the federal government for the final fiscal yr.’’

Reply: False, Authorities Finances is an annual assertion that exhibits item-wise estimates of the receipts and expenditures throughout a fiscal yr. 

4. Identify the parts of cash provide. 

Reply: The 2 parts of the cash provide are as follows:

  1. Demand deposits with the banks resembling financial savings and present account.
  2. Time deposits with the financial institution resembling Fastened deposits and recurring deposits.

5. If the trade fee of the house foreign money rises, the worth of exports of the financial system is prone to ________. (Fill within the clean with appropriate reply)

Reply: fall

6. State the which means of Involuntary Unemployment. 

Reply: Unemployment during which people who find themselves prepared and in a position to work on the current wage fee don’t get work is called Involuntary Unemployment. Whereas calculating the whole unemployment in an financial system, solely involuntary unemployment is taken into account.

OR

Common Propensity to Save (APS) is the ratio of ________ and ________. (Fill within the blanks with appropriate reply) 

Reply: Whole Financial savings and Whole Earnings

Average~Propensity~to~Save(APS)=frac{S}{Y}

7. State, whether or not the next assertion is true or false : 

‘‘The official reserve transactions are taken because the accommodating merchandise in Stability of Cost (BOP).’’ 

Reply: True

8. Below Statutory Liquidity Ratio, business banks are required to maintain a fraction of _________ within the type of liquid belongings. (Select the right different) 

(A) Whole deposits 

(B) Time period deposits

(C) Whole demand and time period deposits

(D) Present deposits 

Reply: (A) Whole deposits 

9. Outline ‘International Trade Fee’.

Reply:  The speed at which one foreign money is exchanged for an additional known as the International Trade Fee or International Fee of Trade. In easy phrases, it’s the worth paid in home foreign money for purchasing a unit in international foreign money. For instance, If 60 rupees are to be paid to get one greenback then the trade fee in that case is:

 $1 : ₹60

The trade fee might be expressed because the ratio of trade between the currencies of different international locations. It’s the worth of 1 foreign money when it comes to one other foreign money. The trade fee is also called the Exterior Worth of Home Forex

10. Main deficit might be zero if _________. (Fill within the clean with appropriate different) 

(A) Fiscal deficit = Curiosity funds

(B) Fiscal deficit < Curiosity funds

(C) Fiscal deficit > Curiosity funds

(D) Income deficit < Fiscal deficit 

Reply: (A) Fiscal deficit = Curiosity funds

11. Distinguish between a ‘Present account deficit’ and a ‘Commerce deficit’. 

Reply: Present Account Deficit is a deficit that arises when the whole of the debit facet of the present account is greater than the whole of the credit score facet. Merely put, it arises when the international trade receipts within the present account fall in need of the international trade funds. This deficit signifies the online outflow of international trade.

Commerce Deficit is a deficit when the funds for the worth of import of seen gadgets are greater than the receipts for the worth of export of seen gadgets.

Distinction between Present Account Deficit and Commerce Deficit

Foundation

Present Account Deficit

Commerce Deficit

That means

Present Account Deficit is a deficit that arises when the international trade receipts within the present account fall in need of the international trade funds. A present Commerce Deficit is a deficit when the funds for the worth of import of seen gadgets are greater than the receipts for the worth of export of seen gadgets.

Consists of

It consists of all seen items and companies and unilateral switch. It consists of solely all seen items.

Arises when

Autonomous Present Receipts < Autonomous Present Funds Imports > Exports

OR

‘‘Stability of Cost (BoP) is all the time balanced within the accounting sense.’’ Defend or refute the given assertion with legitimate causes.

Reply: Stability of Cost (BoP) is a press release of all transactions between entities in a single nation and the surface world over a specified time interval, resembling 1 / 4 or a yr. It lists all interactions between residents of 1 nation and residents of different international locations that contain companies, organizations, or governments. Stability of Funds consists of all of the financial transactions, which contain the switch of holding or title of products, and companies.

The given assertion, ‘‘Stability of Cost (BoP) is all the time balanced within the accounting sense.’’ is defended. It’s as a result of the stability of funds accounting makes use of the double-entry bookkeeping system like Trial Stability whereas recording the transactions between the home nation and the remainder of the world. Similar to a typical enterprise, a BoP additionally has two sides Credit score Facet and Debit Facet. Nevertheless, if there’s any distinction or deficit/surplus created by means of autonomous transactions, they’re corrected by the corresponding deficit/surplus within the accommodating transaction.

12. From the next information, calculate (a) Income deficit and (b) Fiscal deficit:

 

Reply: The income deficit refers back to the extra of income expenditure over income revenue in a monetary yr. It primarily focuses on the income points of the federal government, like income expenditure and income revenue/receipts. The components for calculating income deficit is:

Income Deficit = Income Expenditure – Income Receipts

The fiscal deficit refers back to the extra of complete expenditure over complete receipts/revenue, excluding borrowings, in a fiscal yr. It primarily focuses on the borrowings of the federal government. The components for calculating fiscal deficit is:

Fiscal Deficit = Whole Expenditure – Whole Receipts (besides borrowings)

OR

= (Income Expenditure + Capital Expenditure) – (Income Receipts + Capital Receipts excluding Borrowings)

Within the given query, with the assistance of the given figures, the income and financial deficit are:

Income Deficit = Income Expenditure – (Tax Income + Non-tax Income)

= 3,821 – (1,000 + 2,000)

= 3,821 – 3,000

Income Deficit = ₹821 Crores

Fiscal Deficit = (Income Expenditure + Capital Expenditure) – (Tax Income + Non-tax income + Restoration of Loans + Disinvestment)

= (3,821 + 574) – (1,000 + 2,000 + 135 + 100)

= 4,395 – 3,235

Fiscal Deficit = ₹1,160 Crores

13. Within the given determine, what does the hole ‘KT’ symbolize? State and talk about any two fiscal measures to appropriate the scenario. 

Graph

 

Reply: Within the above-given Earnings and Mixture Demand graph, KT represents the inflationary hole. 

An inflationary Hole is a spot by which the precise mixture demand exceeds the combination demand required for the institution of full employment equilibrium. This hole or extra demand occurs because of the rise in cash provide and availability of credit score at straightforward phrases. The inflationary hole can happen due to numerous causes resembling an increase within the propensity to devour, discount in taxes, enhance in funding, enhance in authorities expenditure, deficit financing, and so forth.; and may have an effect on the output, employment, and basic worth degree.

The fiscal measures (fiscal measures or insurance policies are the measures of the Central Authorities) to appropriate the scenario of inflationary hole or extra demand are as follows:

  1. Lower in Authorities Spending: Authorities spends an enormous sum of money on infrastructural and administrative actions. To manage the scenario of inflationary hole, it ought to scale back its expenditure to the utmost potential restrict. It ought to give extra emphasis on the discount of expenditure on protection and unproductive works. It’s as a result of expenditure on these actions not often helps within the progress of a rustic. Therefore, a discount in authorities spending will scale back the extent of mixture demand within the financial system and can finally assist in correcting inflationary pressures within the financial system.
  2. Improve in Taxes: When there’s an inflationary hole, the Authorities will increase the tax charges and even imposes some new taxes to cut back the extent of mixture expenditure within the financial system. The rise in taxes finally helps in controlling the scenario of extra demand or inflationary hole.

For Visually Impaired Candidates :

What is supposed by deflationary hole? State and talk about any two fiscal measures to appropriate the scenario of deflationary hole.

Reply: When the deliberate mixture expenditure of an financial system falls in need of mixture provide on the full employment degree, the scenario of poor demand rises, which consequently provides rise to a deflationary hole. Therefore, the deflationary hole is a spot by which the precise mixture demand of an financial system falls in need of the combination demand required for the institution of full employment equilibrium. The deflationary hole can happen due to numerous causes resembling a lower within the propensity to devour, a rise in taxes, an increase in imports, a fall in funding expenditure, a lower in authorities expenditure, and so forth., and may have an effect on the output, employment, and basic worth degree.

The scenario of deflationary hole occurs due to a lower within the cash provide and availability of credit score. The fiscal measures (fiscal measures or insurance policies are the measures of the Central Authorities) to appropriate the scenario of deflationary hole or poor demand are as follows:

  1. Improve in Authorities Spending: Authorities spends cash on infrastructural and administrative actions. To manage the scenario of the deflationary hole, it ought to enhance its expenditure on totally different public works resembling the development of flyovers, buildings, roads, and so forth., in order that it could possibly present revenue to individuals employed for these public works. Therefore, a rise in authorities spending will enhance the extent of mixture demand and can finally assist in correcting the scenario of deflationary hole or poor demand.
  2. Lower in Taxes: When there’s a deflationary hole, the Authorities decreases the tax charges and even abolishes a number of the current taxes. The lower in taxes raises the buying energy of individuals which consequently will increase their disposable revenue, rising their potential to spend extra on funding and consumption. Therefore, a lower in taxes raises the extent of mixture demand and helps in controlling the scenario of deflationary hole or poor demand.

14. ‘‘To spice up the falling demand within the financial system, the Reserve Financial institution of India not too long ago decreased Repo fee.’’ Elaborate the rationale behind the steps taken by the Central Financial institution. 

Reply: The speed at which a rustic’s central financial institution (within the case of India, RBI) lends cash to business banks to satisfy their short-term monetary wants is called the repo fee. The central financial institution advances loans to business banks in opposition to authorised securities or eligible payments of trade.

When the demand within the financial system falls, to spice up the demand, the Central Financial institution (Reserve Financial institution of India) reduces the repo fee. By decreasing the repo fee, the Central Financial institution reduces the price of borrowings from it. This will increase the capability of business banks to provide loans to the general public. Subsequently, business banks now scale back their lending charges due to which debtors can now take extra loans from the banks, rising the demand for cash, and finally rising the movement of cash within the financial system. 

Therefore, to spice up the falling demand within the financial system, the Central Financial institution has decreased the repo fee to encourage debtors in taking loans from business banks.

15. Calculate Gross Worth Added at Market Worth (GVAMP) from the next information:

 

Reply: The worth added by every manufacturing firm can also be known as as Gross Worth Added at Market Worth (GVAMP). 

Gross Worth Added at Market Worth (GVAMP) = Worth of Output – Intermediate Consumption

or

= Gross sales + Change in Inventory – Intermediate Consumption

Within the given query home gross sales and exports are given individually; due to this fact, we’ll add them to acquire Gross sales worth.

Therefore, Gross Worth Added at Market Worth will probably be,

Gross Worth Added at Market Worth (GVAMP) = (Home Gross sales + Exports + Change in Inventory) – Single Use Producer Items

= [200 + 10 + (-10)] – 120

= 200 – 120

GVAMP = ₹80 Lakhs

OR

The worth of the Nominal Gross Nationwide Product (GNP) of an financial system was ₹2,500 Crores in a selected yr. The worth of GNP of that nation throughout the identical yr, evaluated on the worth of base yr was ₹3,000 Crores.
Calculate the worth of GNP deflator of the yr in proportion phrases. Has the value degree risen between the bottom yr and the yr into consideration?

Reply: GNP might be of two varieties: Actual GNP and Nominal GNP. Actual GNP is the Gross Home Product of a rustic of a given yr, estimated on the idea of the value of the products and companies of a base yr. Nevertheless, Nominal GNP is the Gross Home Product of a rustic of a given yr, estimated on the idea of the value of the products and companies of the identical yr. The components for calculating Actual GNP and Nominal GNP is,

GNP~Deflator=frac{Nominal~GNP}{Real~GNP}times{100}

The Actual GNP and Nominal GNP within the given query are ₹3,000 Crores and ₹2,500 Crores respectively. Subsequently, the GNP Deflator will probably be,

GNP~Deflator=frac{Nominal~GNP}{Real~GNP}times{100}

GNP~Deflator=frac{2,500}{3,000}times{100}

GNP Deflator = 83.33%

Conclusion: No, the value degree has decreased from the bottom yr to the yr into consideration by 16.67%.

16. Reply the next questions based mostly on the information given beneath: 

(i) Deliberate funding = ₹100 crore

(ii) C = 50 + 0·5 Y

(a) Decide the equilibrium degree of revenue. 

(b) Calculate the saving and consumption expenditure at equilibrium degree of Nationwide Earnings. 

Reply:

a) Keynesian principle says that in an financial system, the equilibrium degree of revenue is decided when the combination demand (represented by C + I curve) is the same as the combination provide (represented by C + S curve).

Mixture Demand consists of two parts; viz., Consumption Expenditure (C) and Funding Expenditure (I). The consumption expenditure varies immediately with the revenue degree; nevertheless, the funding expenditure is assumed to be impartial of the revenue degree.

Mixture Provide refers back to the complete output of nationwide revenue’s items and companies and is depicted by a forty five° line.

Within the given query, the deliberate funding is ₹100 Crores, and C = 50 + 0.5Y. Subsequently the equilibrium degree of revenue will probably be,

Y = C + I

Y = (50 + 0.5Y) + 100

Y = 150 + 0.5Y

Y – 0.5Y = 150

0.5Y= 150

At equilibrium, Y = ₹300 Crores

b) The saving and consumption expenditure on the equilibrium degree of Nationwide Earnings will probably be,

Saving Expenditure:

S=-bar{C}+(1-b)Y

S = -50 + (1-0.5)300

S = -50 + (0.5 x 300)

S = -50 + 150

S = ₹100 Crores

Consumption Expenditure:

Y = C + S

300 = C + 100

C = ₹200 Crores

17. Outline the issue of double counting within the estimation of Nationwide Earnings. Focus on two approaches to appropriate the issue of double counting. 

Reply: To calculate the Nationwide Earnings of an financial system, solely the worth of ultimate items and companies is to be thought of. Nevertheless, together with the worth of ultimate items, the worth of intermediate items can also be included which supplies rise to the issue of double counting. A scenario during which the worth of output when passing by means of its manufacturing levels, is counted greater than as soon as, is called Double Counting. A product passes by means of numerous levels of manufacturing earlier than reaching the ultimate stage. When the worth of a product is calculated at every stage of manufacturing, it’s extra probably so as to add the price of enter greater than as soon as. This example results in double counting. 

For instance, A farmer produces wheat in his fields and sells it for ₹200 to a flour mill. The miller then converts the wheat into flour and sells is to a baker for ₹500. Finally, the baker prepares biscuits from that flour and promote them to the customers for closing consumption at a worth of ₹700. 

For Farmer, wheat is the ultimate product (₹200) and he has not spent any intermediate price. Subsequently, the worth added at this stage is ₹200 (₹200-₹0). 

For the Miller, flour is the ultimate product (₹500) and he has spent ₹200 on wheat as an intermediate good . Subsequently, the worth added at this stage is ₹300 (₹500-₹200).

For the Baker, biscuit is the ultimate product (₹700) and he has spent ₹500 on flour as an intermediate good. Subsequently, the worth added at this stage is ₹200 (₹700-₹500). 

Double Counting

 

By including the worth of outputs of the farmer, miller, and baker, the Worth of Output = 200+500+700 = ₹1400.

Nevertheless, these values of output consists of the worth of an intermediate good. 

The worth of flour (₹500) consists of the worth of wheat (₹200). Equally, the worth of biscuits (₹700) consists of the worth of flour (₹500). It exhibits that the worth of wheat and flour are counted twice. As soon as as the worth of output and the opposite time as an intermediate good. This results in the issue of Double Counting. 

There are two alternates out there for avoiding double counting. 

1. Remaining Output Methodology: The strategy of Remaining Output says that solely the worth of the ultimate items ought to be added to the dedication of nationwide revenue. Within the above instance, utilizing the strategy of ultimate output, solely the worth of Biscuit; i.e., ₹700 at which these are bought to the ultimate customers will probably be taken in the course of the calculation of nationwide revenue. 

2. Worth Added Methodology: The strategy of Worth Added says that the sum of worth added at every stage of manufacturing of the ultimate good ought to be added within the dedication of nationwide revenue. Within the above instance, the sum of worth added at every producing unit by the farmer, miller, and baker price ₹200, ₹300, and ₹200 respectively ought to be added. Subsequently, the worth to be taken for the dedication of nationwide revenue will probably be ₹700 (₹200+₹300+₹200).

OR

Outline the next : 

(a) Capital Items

(b) Gross Home Product

(c) Circulate Variables

(d) Earnings from property and entrepreneurship

Reply:

a) Capital Items: Capital items are bodily belongings that a company makes use of within the strategy of manufacturing to fabricate services that buyers will use later. Capital items are also called tangible items as they’re bodily in nature. It includes buildings, equipment, tools, autos, instruments, and so forth. Capital items aren’t completed items; somewhat, they’re used to make completed items.

b) Gross Home Product: GDP or Gross Home Product is the whole worth of all the ultimate items and companies produced inside the home boundaries of a rustic throughout a yr. Gross in GDP implies that depreciation is included within the financial worth of products and companies. Home signifies that items and companies included in GDP are produced inside the home boundaries of the nation. Nevertheless, product implies that solely closing items and companies will probably be included. GDP is usually used as an index to measure the welfare of individuals.

c) Circulate Variables: The financial variables that are measured over a time period are referred to as movement variables. For instance, nationwide revenue.

d) Earnings from Property and Entrepreneurship: Earnings from Property and Entrepreneurship or Working Surplus is one other time period utilized in issue funds. It’s the sum complete of revenue from property and revenue from entrepreneurship. Working Surplus arises in each authorities and personal enterprises, however doesn’t come up within the basic authorities sector as on this sector it really works with the motive of social welfare. These parts are utilized in figuring out nationwide revenue by means of Earnings Methodology.

The three parts of ‘Earnings from Property and Entrepreneurship’ are as follows:

  • Lease/Royalties
  • Curiosity
  • Revenue

Part – B

(Indian Financial Improvement)

18. __________ is likely one of the taxes eradicated after implementation of Items and Companies Tax (GST). (Fill within the clean with appropriate reply)

Reply: Worth Added Tax (VAT)

19. _________ and _________ foreign money notes of previous Mahatma Gandhi sequence have been banned as authorized tender cash on eighth November, 2016 (Select the right different) 

(A) ₹50 and ₹100

(B) ₹500 and ₹1000

(C) ₹500 and ₹2000

(D) ₹500 and ₹200

Reply: (B) ₹500 and ₹1000

20. Fixing of most land holding (possession) for a person is called ___________ . (Fill within the clean with appropriate reply) 

Reply: Land Ceiling

21. Central Air pollution Management Board (CPCB) has recognized ___________ classes of huge and medium industries as polluting industries (Select the right different) 

(A) 15

(B) 17

(C) 19

(D) 13

Reply: (B) 17

22. ‘‘Google in India has employed 4000 graduate college students.’’

The given assertion offers with formal sector/casual sector employment. (Choose the right kind of employment). 

Reply: Formal Sector

23. The primary Industrial Coverage Decision in Unbiased India was launched within the yr ___________ . (Select the right different) 

(A) 1948

(B) 1950

(C) 1954

(D) 1956

Reply: (A) 1948

24. State the which means of Cooperative Advertising.

Reply: A system during which the farmers pool their marketable surplus of crops and distribute their sale proceeds based mostly on every particular person share is called Cooperative Advertising. It is likely one of the measures of enhancing agricultural advertising and marketing and goals at realising truthful costs for farmers’ merchandise. Below this method, the farmers type advertising and marketing societies to promote their output collectively and to take profit from collective bargaining to acquire a greater worth. 

25. Outline ‘Human Capital Formation’. 

Reply: The method of including the inventory of expert and succesful individuals within the nation over a time interval is called Human Capital Formation. Merely put, human capital formation means the event of skills and abilities amongst a rustic’s inhabitants. This course of is related to an funding in human beings and their growth as productive and artistic sources. The foremost sources of Human Capital Formation are Expenditure on Training, Expenditure on Well being, Expenditure on Migration, On-the-Job-Coaching, and Expenditure on Data.

OR

Determine the right sequence of options given in Column II by matching them with their respective years in Column I :

 

Select the right different from following:

(A) a-(iv), b-(i), c-(ii), d-(iii)

(B) a-(iv), b-(ii), c-(i), d-(iii)

(C) a-(iv), b-(iii), c-(i), d-(ii)

(D) a-(iv), b-(ii), c-(iii), d-(i)

Reply: (C) a-(iv), b-(iii), c-(i), d-(ii)

Jan Dhan Yojana: 2014
Activity Power on projections of the Minimal Wants and Efficient Consumption Demand: 1979
Mahatama Gandhi Nationwide Rural Employment Assure Act: 2005
Examine Grup shaped by the Planning Fee for Poverty: 1962

26. State the which means of ‘Commune’. 

Reply: A system of collective farming during which individuals are made to domesticate the farm lands in China is called Commune. This technique comes below Nice Proletarian Cultural Revolution.

27. Prepare the next occasions in chronological order and select the right different : 

(i) Institution of Individuals’s Republic of China

(ii) Creation of Pakistan

(iii) First 5-Yr Plan of India

(iv) First 5-Yr Plan of China

Options :

(A) (i), (iv), (ii), (iii)

(B) (iii), (ii), (i), (iv)

(C) (ii), (i), (iii), (iv)

(D) (iv), (iii), (ii), (i)

Reply: (C) (ii), (i), (iii), (iv)

1949 – Institution of Individuals’s Republic of China
1947- Creation of Pakistan
1951 – First 5-Yr Plan of India
1953 – First 5-Yr Plan of China

28. ‘‘It’s essential to create employment within the formal sector somewhat than within the casual sector.’’ Defend or refute the given assertion with legitimate arguments. 

Reply: Employment is an exercise that allows a person to earn technique of dwelling.

The Formal/Organised Sector consists of all the private and non-private sector enterprises that make use of 10 or extra employed staff. Whereas, Casual/Unorganised Sector consists of all of the non-public enterprises that rent lower than 10 staff.

The given assertion, ‘‘It’s essential to create employment within the formal sector somewhat than within the casual sector.’’ is true and might be defended with the assistance of the next factors:

  • The formal sector of employment supplies higher job safety as in comparison with the casual sector of employment.
  • Individuals get higher social safety advantages below the formal sector of employment as in comparison with the casual sector of employment.

OR

State and talk about any two challenges within the Energy sector of India. 

Reply: Electrical energy or Energy is a crucial element of infrastructure and is usually recognized with the progress in fashionable civilization. Over the past 4 many years of planning, Energy growth in India has been important; nevertheless, energy technology remains to be inadequate as in comparison with the required energy. Due to this, lately, India is going through a severe energy disaster. Among the issues confronted by the ability sector in India are as follows:

  1. Insufficient Electrical energy Era: The put in capability of India to generate electrical energy just isn’t sufficient to feed an annual financial progress of 7-8%. It is just in a position so as to add 20,000 MW per yr and to fulfil the rising necessities of energy, the business vitality provide must develop at about 7%. 
  2. Scarcity of Inputs: The muse of India’s energy sector; i.e., the Thermal Energy Vegetation is going through a scarcity of uncooked supplies and coal provides.
  3. Restricted Position of Non-public and International Entrepreneurs: The function of personal sector energy turbines and international buyers is proscribed. They’re but to play a significant function in Energy Infrastructure. 

29. ‘‘Fast enhance in financial progress absolutely trickles all the way down to the individuals below the completely poor class.’’ Defend or refute the given assertion with legitimate arguments. 

Reply: A poor individual is a person who lives a troublesome life as he’s not in a position to afford the requirements of life, which morally degrade him. He’s incapable of performing like a human being. He feels demoralized by how society treats him. 

The given assertion, ‘‘Fast enhance in financial progress absolutely trickles all the way down to the individuals below the completely poor class.’’ is refuted due to the next causes:

  • The expansion in inhabitants has resulted in very low progress within the per capita revenue of the nation.
  • Additionally, the inexperienced revolution has elevated the regional disparity and the hole between poor and wealthy farmers.
  • Finally, the wealthy have grabbed the advantages of financial progress.

30. ‘‘Agriculture sector seems to be adversely affected by the financial reform course of.’’ Clarify the given assertion. 

Reply: The financial situation of India in 1991 was pathetic. The federal government was unable to generate revenues from the sources like taxation. The revenue from public enterprises was additionally low. Nevertheless, the federal government has to spend extra on numerous points like unemployment, overpopulation, and poverty, which will increase the necessity to introduce financial reforms in India. Financial Reforms are the set of financial insurance policies that goals to speed up the tempo of progress and growth within the financial system.  

The Financial Reform course of has adversely affected the agriculture sector within the following methods:

  1. Discount of Public Funding: There was a decline in public funding within the agriculture sector involving irrigation, energy, market ties, roads, analysis, and development.
  2. Liberalisation and Discount in Import Duties: There have been a number of coverage modifications influencing this sector, which embody (a) reducing of import taxes on agricultural items (b) Elimination of minimal and truthful help costs (c) eradicating quantitative constraints on agricultural merchandise. As a result of rising worldwide competitors, all of those insurance policies had a unfavourable influence on Indian farmers.
  3. Removing of Subsidy: Lifting of fertilizer subsidies elevated manufacturing prices, which adversely impacted the small and marginal farmers.
  4. Shift in the direction of Money Crops: Agricultural manufacturing has switched from meals crops to export crops because of export-oriented coverage measures.

OR

India is usually known as the ‘Outsourcing Vacation spot’ of the world. Focus on the prime causes for this identify given to India. 

Reply: Outsourcing means contracting out non-core and common actions during which an organization lacks competence to different companies with a view to profit from their expertise, information, and effectivity. It’s a enterprise apply, referred to as contracting out or enterprise course of outsourcing during which one firm hires one other firm or a person, resembling a service supplier or vendor, or a 3rd social gathering to carry out duties, deal with operations, or present companies which can be usually or beforehand carried out by the corporate’s personal staff. 

India is usually known as the outsourcing vacation spot of the world due to the next causes:

  1. Straightforward availability of low-cost labour: The wage fee of labour in India is decrease as in comparison with the speed in different developed international locations, due to which numerous MNCs outsource their enterprise in India.
  2. Availability of expert manpower: The proportion of expert manpower is extra in India which will increase the religion of MNCs in outsourcing their enterprise actions.
  3. Beneficial Authorities insurance policies: The MNCs additionally get various kinds of profitable gives from the Indian Authorities like tax concessions, tax holidays, and so forth., which inspires them in working with the Indian workforce.
  4. Worldwide worthiness: Worldwide worthiness and credibility of India are good, which makes it an acceptable vacation spot for outsourcing enterprise actions.

31. ‘‘India, China and Pakistan have travelled greater than seven many years of developmental path with diversified outcomes.’’ Clarify the given assertion with legitimate arguments. 

Reply: The event methods of India, China, and Pakistan are very comparable. All three nations began their developmental actions on the identical time. The individuals of India and Pakistan bought independence in 1947, whereas the Individuals’s Republic of China was established in 1949. India introduced its first Fiver-Yr Plan in 1951, Pakistan in 1956, and China in 1953. 

Despite the fact that these nations began their developmental actions collectively, they achieved totally different outcomes. Therefore, the given assertion, ‘‘India, China, and Pakistan have travelled greater than seven many years of the developmental path with diversified outcomes.’’ is true, and this may be confirmed with the next factors:

Until the late Seventies India, China, and Pakistan have been in a position to preserve the identical degree of low growth. However, over the past three many years, these international locations have taken totally different growth ranges:

  1. India’s efficiency has been average over time. A significant portion of India nonetheless will depend on agriculture. There was an absence of infrastructure. Moreover, greater than one-fourth of India’s inhabitants lives beneath the poverty line.
  2. Pakistan’s efficiency was low as a result of there was political instability, overdependence on remittances, and international assist there. Moreover, the efficiency in agriculture in Pakistan was additionally unstable.
  3. China has raised the speed of progress within the financial system with the assistance of the market system and by placing stress on the Alleviation of Poverty.

32. Focus on briefly the rationale behind selecting ‘Self-reliance’ as a planning goal for the Indian financial system. 

Reply: The planning fee proposed that India ought to formulate a plan for a interval of 5 years for its growth and financial progress, referred to as the 5 Yr Plan. Until now, twelve five-year plans have been accomplished in India. Below the affect of then Prime Minister Pt. Jawahar Lal Nehru, India established its first five-year plan impressed by the Soviet Union. The essential objectives behind the 5 Yr Plan are progress, modernisation, self-reliance, and fairness.

Self-reliance means something that India is able to manufacturing domestically is not going to be imported, particularly meals and agricultural merchandise. In nutshell, Self-reliance means growth by means of home sources. The foremost goals of selecting Self-reliance as a planning goal for the Indian financial system are as follows:

  • To cut back International Dependence: As India not too long ago bought freedom from international management, it was obligatory for India to turn out to be impartial or self-reliant and scale back its dependency on international international locations, particularly for meals or agricultural gadgets.
  • To keep away from International Interference: The federal government of India was afraid that dependency on international international locations for meals provides, capital, & know-how could enhance international interference within the financial insurance policies of the nation.

33. (a) State the which means of ‘Poverty Line’. 

(b) Outline the next :

(i) Carrying capability of atmosphere

(ii) Absorptive capability of atmosphere

Reply:

a) Poverty Line: Poverty is a peculiar drawback due to which numerous international locations are struggling. Poverty is a state during which an individual just isn’t in a position to fulfil even the fundamental requirements of life. Poverty line is the minimal threshold revenue degree or the per capita expenditure which is thought to be sufficient for the inhabitants of a nation. Merely put, the poverty line is a cut-off level on the distribution line, dividing a rustic’s inhabitants as poor and non-poor. Poverty line might be decided when it comes to Energy Consumption and Month-to-month Per Capital Expenditure (MPCE). It tries to seize the socially acceptable minimal lifestyle of the inhabitants, which society tries to fulfil. 

b)

i) Carrying Capability of Surroundings: Surroundings is termed as the whole planetary inheritance and the totality of all sources. Merely put, it’s the sum complete of all of the exterior sources that encompass us and consists of all biotic and abiotic elements that affect one another. Carrying Capability implies that the useful resource extraction mustn’t go above the speed of useful resource regeneration. It additionally implies that the waste generated mustn’t go above the absorption capability of the atmosphere. 

ii) Absorptive Capability of Surroundings: Surroundings is termed as the whole planetary inheritance and the totality of all sources. Merely put, it’s the sum complete of all of the exterior sources that encompass us and consists of all biotic and abiotic elements that affect one another. The absorptive capability of the atmosphere is the atmosphere’s potential to soak up degradation with out inflicting any environmental injury. 

34. (a) ‘‘Ujjwala Yojana has been a recreation changer for rural India.’’ State any three standard fuels being focused below the LPG cylinder distribution scheme (Ujjwala Yojana). 

(b) ‘‘The Indian Well being System wants a stronger dose of public expenditure to remedy itself.’’ Justify the given assertion with legitimate 
arguments. 

Reply: 

a) Pradhan Mantri Ujjwala Yojana (PMUY) is a scheme that goals at safeguarding the well being of girls and youngsters by offering them with clear cooking gasoline (LPG) in order that their well being doesn’t get compromised in smoky kitchens or they don’t must wander in unsafe areas for accumulating firewood. As standard sources of vitality trigger air pollution within the atmosphere, by offering free LPG gasoline cylinders to rural households, the Ujjwala Yojana scheme has turn out to be a recreation changer for rural India. The three standard fuels being focused below this scheme are Firewood, Coal, and Agricultural Waste and Dried Dung.

b) The State of the Indian Well being System is repeatedly enhancing since independence however the enchancment is unreasonably sluggish. It has been a sufferer of a comparatively low public expenditure. As in comparison with different growing international locations, the well being expenditure of India as a proportion of GDP could be very low (round 4.7% of the whole GDP within the yr 2014-15). Subsequently, it’s important for the Indian Well being System to get a stronger dose of public expenditure to remedy itself.

OR

34. (a) Why are much less girls present in common salaried employment? 

(b) Analyse the current developments in sectoral distribution of workforce in India: 

Trends in Employment Pattern

 

Reply:

a) Common Salaried Staff are the employees who’re engaged by somebody or by a enterprise enterprise and are paid wages frequently. For instance, lecturers, staff at a agency, professors, and so forth. These staff are employed on a everlasting foundation and get numerous social advantages like provident fund, pension, medical health insurance, and so forth. India’s workforce consists of simply 22.8% common salaried staff amongst which girls staff are very low. 

As numerous abilities and excessive literacy degree are required in common salaried jobs, lesser girls are discovered right here. Moreover, the dearth of mobility amongst girls in India due to social constraints can also be a motive behind much less girls in common salaried jobs.

b) With the given details about the developments in employment patterns, it may be concluded that the proportion of the workforce in India within the main sector is quickly reducing from 64% to 60%, and finally to 48.9%. Nevertheless, the employment share of each secondary and repair sectors has elevated by roughly 9% (within the final 11 years) and seven% (within the final 17 years), respectively. 

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