Assertion (A): An important policy instrument of economic liberalisation is reduction in import duties on capital goods.
Reason (R): Reduction in import duties would help the local entrepreneurs to improve technology to face the global markets.
In the context of the above two statements, which one of the following is correct?
Important Questions on Indian Economy
One of the important goals of the economic liberalization policy is to achieve full convertibility of the Indian rupee. This is being advocated because
The emerging trading blocs in the world, such as NAFTA, ASEAN and the like are expected to
Which of the following were the aims behind the setting up of the World Trade Organisation (WTO)
1. Promotion of free trade and resource flow across countries
2. Protection of intellectual property rights
3. Managing balanced trade between different countries.
4. Promotion of trade between the former East Bloc countries and the Western World.
Select the correct answer using the codes given below:
The table given below depicts the composition of India's exports between 1992-93 &1994-95:
| Items | 1992-93 | 1993-94 | 1994-95 |
| Agricultural & Allied Products | 16.9 | 18.0 | 15.9 |
| Ores and Minerals | 4.0 | 4.0 | 3.7 |
| Manufactured Products | 75.5 | 75.6 | 78.0 |
| Petroleum Product | 2.6 | 1.8 | 1.9 |
(Note: All data given in Percentage form)
The changing composition of the export trade is indicative of the structural transformation of the Indian economy in favour of modernisation. The best indicator of this trend is the:
Hawala transactions relate to payments:
In India, rural incomes are generally lower than the urban incomes. Which of the following reasons account for this?
1. A large number of farmers are illiterate and know little about scientific agriculture
2. Prices of primary products are lower than those of manufactured products
3. Investment in agriculture has been low when compared to investment in industry
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 lndia is still living below the poverty line.
In the context of the above two statements, which one of the following is correct?
“They are fantastically diverse.They speak hundreds of languages and dialects. They comprise scores of ethnic groups. They include highly industrialised economies and up and coming economies. They span half the surface of the earth and are home to two-fifths of the world’s population.”
The group of countries referred to here belong to:
