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UPSC Economics PYQs 2015 | Vaidra | Vaidra
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Economics UPSC PYQ 2015

33 questions from the UPSC 2015 examination.

33 questions

1Mediumprelims2 marks
Fiscal Policy & Budget

With reference to the Fourteenth Finance Commission, which of the following statements is/are correct? 1. It has increased the share of States in the central divisible pool from 32 percent to 42 percent. 2. It has made recommendations concerning sector-specific grants. Select the correct answer using the code given below.

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
2Mediumprelims2 marks
Banking & Financial Sector

With reference to the Indian Renewable Energy Development Agency Limited (IREDA), which of the following statements is/are correct? 1. It is a Public Limited Government Company. 2. It is a Non-Banking Financial Company. Select the correct answer using the code given below.

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
3Mediummains13 marks
Issues related to direct and indirect farm subsidies and minimum support prices; Public Distribution System - objectives, functioning, limitations, revamping; issues of buffer stocks and food security; Technology missions; economics of animal-rearing

Livestock rearing has a big potential for providing non-farm employment and income in rural areas. Discuss suggesting suitable measures to promote this sector in India. <!--qid:MAINS_2015_GS-III_Q2-->

4Easyprelims2 marks
Infrastructure & Industry

In India, the steel production industry requires the import of

Asaltpetre
Brock phosphate
Ccoking coal
DAll of the above
5Easyprelims2 marks
Infrastructure & Industry

In the ‘Index of Eight Core Industries’, which one of the following is given the highest weight?

ACoal production
BElectricity generation
CFertilizer production
DSteel production
6Mediumprelims2 marks
National Income & Economic Growth

With reference to Indian economy, consider the following statements: 1. The rate of growth of Real Gross Domestic Product has steadily increased in the last decade. 2. The Gross Domestic Product at market prices (in rupees) has steadily increased in the last decade. Which of the statements given above is/are correct?

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
7Mediummains13 marks
Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment

The nature of economic growth in India in recent times is often described as jobless growth. Do you agree with this view? Give arguments in favour of your answer. <!--qid:MAINS_2015_GS-III_Q1-->

8Mediumprelims2 marks
Agriculture & Rural Development

Which one of the following best describes the main objective of 'Seed Village Concept'?

AEncouraging the farmers to use their own farm seeds and discouraging them to buy the seeds from others
BInvolving the farmers for training in quality seed production and thereby to make available quality seeds to others at appropriate time and affordable cost
CEarmarking some villages exclusively for the production of certified seeds
DIdentifying the entrepreneurs in villages and providing them technology and finance to set up seed companies
9Mediummains13 marks
Issues related to direct and indirect farm subsidies and minimum support prices; Public Distribution System - objectives, functioning, limitations, revamping; issues of buffer stocks and food security; Technology missions; economics of animal-rearing

In what way could replacement of price subsidy with Direct Benefit Transfer (DBT) change the scenario of subsidies in India? Discuss. <!--qid:MAINS_2015_GS-III_Q5-->

10Mediummains13 marks
Investment models

There is a clear acknowledgement that Special Economic Zones (SEZs) are a tool of industrial development, manufacturing and exports. Recognizing this potential, the whole instrumentality of SEZs requires augmentation. Discuss the issues plaguing the success of SEZs with respect to taxation, governing laws and administration. <!--qid:MAINS_2015_GS-III_Q10-->

11Mediumprelims2 marks
Agriculture & Rural Development

Consider the following statements: 1. The Accelerated Irrigation Benefits Programme was launched during 1996-97 to provide loan assistance to poor farmers. 2. The Command Area Development Programme was launched in 1974-75 for the development of water-use efficiency.

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
12Easyprelims2 marks
Monetary Policy & Money Supply

With reference to Indian economy, consider the following: 1. Bank rate 2. Open market operations 3. Public debt 4. Public revenue Which of the above is/are component/components of Monetary Policy?

A1 only
B2, 3 and 4
C1 and 2
D1, 3 and 4
13Mediumprelims2 marks
Fiscal Policy & Budget

There has been a persistent deficit budget year after year. Which of the following actions can be taken by the government to reduce the deficit? 1. Reducing revenue expenditure 2. Introducing new welfare schemes 3. Rationalizing subsidies 4. Expanding industries Select the correct answer using the code given below.

A1 and 3 only
B2 and 3 only
C1 only
D1, 2, 3 and 4
14Mediumprelims2 marks
External Sector & Balance Of Payments

The problem of international liquidity is related to the non-availability of

Agoods and services
Bgold and silver
Cdollars and other hard currencies
Dexportable surplus
15Mediumprelims2 marks
Infrastructure & Industry

The substitution of steel for wooden ploughs in agricultural production is an example of

Alabour-augmenting technological progress
Bcapital-augmenting technological progress
Ccapital-reducing technological progress
DNone of the above
16Easyprelims2 marks
Agriculture & Rural Development

The Fair and Remunerative Price (FRP) of sugarcane is approved by the

ACabinet Committee on Economic Affairs
BCommission for Agricultural Costs and Prices
CDirectorate of Marketing and Inspection, Ministry of Agriculture
DAgricultural Produce Market Committee
17Mediumprelims2 marks
Monetary Policy & Money Supply

When the Reserve Bank of India reduces the Statutory Liquidity Ratio by 50 basis points, which of the following is likely to happen?

AIndia’s GDP growth rate increases drastically
BForeign Institutional Investors may bring more capital into our country
CScheduled Commercial Banks may cut their lending rates
DIt may drastically reduce the liquidity to the banking system
18Mediumprelims2 marks
Banking & Financial Sector

'Basel III Accord' or simply 'Basel III', often seen in the news, seeks to

Adevelop national strategies for the conservation and sustainable use of biological diversity
Bimprove banking sector's ability to deal with financial and economic stress and improve risk management
Creduce the greenhouse gas emissions but places a heavier burden on developed countries
Dtransfer technology from developed countries to poor countries to enable them to replace the use of chlorofluorocarbons in refrigeration with harmless chemicals
19Easyprelims2 marks
International Institutions & Reports

Which one of the following issues the ‘Global Economic Prospects’ report periodically?

AThe Asian Development Bank
BThe European Bank for Reconstruction and Development
CThe US Federal Reserve Bank
DThe World Bank
20Mediummains13 marks
Food processing and related industries in India - scope and significance, location, upstream and downstream requirements, supply chain management

What are the impediments in marketing and supply chain management in developing the food processing industry in India? Can e-commerce help in overcoming these bottlenecks? <!--qid:MAINS_2015_GS-III_Q6-->

21Easyprelims2 marks
Digital Payments & Financial Inclusion

‘Pradhan Mantri Jan-Dhan Yojana’ has been launched for

Aproviding housing loan to poor people at cheaper interest rates
Bpromoting women’s Self-Help Groups in backward areas
Cpromoting financial inclusion in the country
Dproviding financial help to the marginalized communities
22Easyprelims2 marks
External Sector & Balance Of Payments

Convertibility of rupee implies

Abeing able to convert rupee notes into gold
Ballowing the value of rupee to be fixed by market forces
Cfreely permitting the conversion of rupee to other currencies and vice versa
Ddeveloping an international market for currencies in India
23Easyprelims2 marks
Economic Planning & Five-Year Plans

The Government of India has established NITI Aayog to replace the

AHuman Rights Commission
BFinance Commission
CLaw Commission
DPlanning Commission
24Mediummains13 marks
Major crops-cropping patterns in various parts of the country; different types of irrigation and irrigation systems; storage, transport and marketing of agricultural produce and issues and related constraints; e-technology in the aid of farmers

How can the 'Digital India' programme help farmers to improve farm productivity and income? What steps has the Government taken in this regard? <!--qid:MAINS_2015_GS-III_Q4-->

25Easyprelims2 marks
Agriculture & Rural Development

In India, markets in agricultural products are regulated under the

AEssential Commodities Act, 1955
BAgricultural Produce Market Committee Act enacted by States
CAgricultural Produce (Grading and Marking) Act, 1937
DFood Products Order, 1956 and Meat and Food Products Order, 1973
26Mediummains13 marks
Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment

Craze for gold in Indians has led to a surge in import of gold in recent years and put pressure on balance of payments and external value of rupee. In view of this, examine the merits of the Gold Monetization Scheme. <!--qid:MAINS_2015_GS-III_Q7-->

27Easyprelims2 marks
Inflation & Price Indices

With reference to inflation in India, which of the following statements is correct?

AControlling the inflation in India is the responsibility of the Government of India only
BThe Reserve Bank of India has no role in controlling the inflation
CDecreased money circulation helps in controlling the inflation
DIncreased money circulation helps in controlling the inflation
28Mediummains13 marks
Food processing and related industries in India - scope and significance, location, upstream and downstream requirements, supply chain management

In view of the declining average size of land holdings in India which has made agriculture non-viable for a majority of farmers, should contract farming and land leasing be promoted in agriculture? Critically evaluate the pros and cons. <!--qid:MAINS_2015_GS-III_Q3-->

29Easyprelims2 marks
International Trade & WTO

The terms ‘Agreement on Agriculture’, ‘Agreement on the Application of Sanitary and Phytosanitary Measures’ and ‘Peace Clause’ appear in the news frequently in the context of the affairs of the

AFood and Agriculture Organization
BUnited Nations Framework Conference on Climate Change
CWorld Trade Organization
DUnited Nations Environment Programme
30Mediummains13 marks
Infrastructure: Energy, Ports, Roads, Airports, Railways etc.

To what factors can the recent dramatic fall in equipment costs and tariff of solar energy be attributed? What implications does the trend have for the thermal power producers and the related industry? <!--qid:MAINS_2015_GS-III_Q9-->

31Easyprelims2 marks
Inflation & Price Indices

Which of the following brings out the ‘Consumer Price Index Number for Industrial Workers’?

AThe Reserve Bank of India
BThe Department of Economic Affairs
CThe Labour Bureau
DThe Department of Personnel and Training
32Mediumprelims2 marks
Fiscal Policy & Budget

A decrease in tax to GDP ratio of a country indicates which of the following? 1. Slowing economic growth rate 2. Less equitable distribution of national income Select the correct answer using the code given below.

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
33Mediummains13 marks
Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment

"Success of 'Make in India' programme depends on the success of 'Skill India' programme and radical labour reforms." Discuss with logical arguments. <!--qid:MAINS_2015_GS-III_Q8-->

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