UGC NET Economics - Indian Economy Test Paper

Instructions:

• Total Questions: 50

• Time Allotted: 1 Hour

• Each question carries 2 marks.

• There is no negative marking.

• Choose the most appropriate answer from the given options.

Questions:

1. The concept of 'inclusive growth' as emphasized in recent Five-Year Plans in India includes:
   (a) Rapid GDP growth only
   (b) Growth that reduces poverty and inequality
   (c) Growth primarily focused on the manufacturing sector
   (d) Growth achieved through exports alone

2. Which of the following committees is associated with banking sector reforms in India?
   (a) Kelkar Committee
   (b) Narasimham Committee
   (c) Rangarajan Committee
   (d) Chelliah Committee

3. The main objective of the Pradhan Mantri Jan Dhan Yojana (PMJDY) is:
   (a) To provide affordable housing to all
   (b) To promote financial inclusion
   (c) To increase agricultural productivity
   (d) To provide free healthcare services

4. The 'Demographic Dividend' in India refers to:
   (a) A high birth rate
   (b) A declining death rate
   (c) A large proportion of the population in the working-age group
   (d) A balanced sex ratio

5. Which of the following is NOT a characteristic of the Indian agricultural sector?
   (a) Dependence on monsoon
   (b) Low productivity
   (c) Dominance of organized farming
   (d) Small and fragmented landholdings

6. The Goods and Services Tax (GST) in India is a:
   (a) Direct tax
   (b) Progressive tax
   (c) Regressive tax
   (d) Indirect tax

7. The main objective of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is:
   (a) To provide employment in urban areas
   (b) To provide guaranteed wage employment to rural households
   (c) To promote industrial growth
   (d) To provide free education to all

8. Which of the following is a measure of poverty in India?
   (a) Gini coefficient
   (b) Lorenz curve
   (c) Headcount ratio
   (d) All of the above

9. 'Make in India' initiative focuses on:
   (a) Promoting exports
   (b) Encouraging foreign investment
   (c) Developing domestic manufacturing
   (d) All of the above

10. The Fiscal Responsibility and Budget Management (FRBM) Act in India aims to:
    (a) Increase government spending
    (b) Reduce fiscal deficit and public debt
    (c) Promote inflation
    (d) Control interest rates

11. What does the term "Disguised Unemployment" mean in the context of the Indian Economy?
    (a) Open unemployment
    (b) Seasonal unemployment
    (c) Marginal productivity of labour is zero or near to zero
    (d) Frictional unemployment

12. NITI Aayog replaced which of the following organizations in India?
    (a) Planning Commission
    (b) Finance Commission
    (c) RBI
    (d) NABARD

13. Which of the following is not a reason for low capital formation in India?
    (a) Low levels of Savings
    (b) High Population growth
    (c) High Public Debt
    (d) High Interest Rates

14. What is the main objective of the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM)?
    (a) Skill development for urban youth
    (b) Poverty reduction through promotion of self-managed Self Help Groups (SHGs) of rural poor
    (c) Providing housing for all
    (d) Improving healthcare access in rural areas

15. Which policy promotes the use of resources in the most efficient and sustainable way?
    (a) Monetary Policy
    (b) Fiscal Policy
    (c) Circular Economy
    (d) Environmental Policy

(The remaining questions will follow a similar pattern, covering these topics):

• Agriculture: Green Revolution, MSP, Agricultural Marketing, Irrigation

• Industry: Industrial Policy, MSMEs, Infrastructure

• Services: IT Sector, Tourism, Financial Services

• Poverty and Inequality: Measurement, Causes, Government Programs

• Human Development: Education, Health, Nutrition

• Planning and Development: Five Year Plans, NITI Aayog

• Fiscal Policy: Taxation, Public Debt, Budget

• Monetary Policy: RBI, Inflation, Interest Rates

• External Sector: Trade, Balance of Payments, Exchange Rate

• Current Economic Issues: Recent economic reforms, challenges, and policy debates

Types of Questions to Include:

• Conceptual: Understanding key concepts and theories

• Analytical: Applying concepts to specific scenarios

• Factual: Remembering important facts and figures

• Statement-based: Identifying correct/incorrect statements

• Matching: Matching items from two lists

• Assertion-Reason: Evaluating the relationship between two statements

Important Considerations:

• Current Affairs: Include questions related to recent economic developments and government initiatives.

• Difficulty Level: Balance the difficulty level to match the UGC NET exam.

• Syllabus Coverage: Ensure that the questions cover all the important topics in the Indian Economy section of the UGC NET syllabus.