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UPSC Economics PYQs 2017 | Vaidra | Vaidra
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Economics UPSC PYQ 2017

34 questions from the UPSC 2017 examination.

34 questions

1Easyprelims2 marks
Infrastructure & Industry

The term ‘Domestic Content Requirement’ is sometimes seen in the news with reference to

ADeveloping solar power production in our country
BGranting licences to foreign T.V. channels in our country
CExporting our food products to other countries
DPermitting foreign educational institutions to set up their campuses in our country
2Mediummains15 marks
Inclusive growth and issues arising from it

What are the salient features of 'inclusive growth'? Has India been experiencing such a growth process? Analyse and suggest measures for inclusive growth. <!--qid:MAINS_2017_GSIII_Q13-->

3Easyprelims2 marks
Banking & Financial Sector

Which of the following statements best describes the term ‘Scheme for Sustainable Structuring of Stressed Assets (S4A)’, recently seen in the news?

AIt is a procedure for considering ecological costs of developmental schemes formulated by the Government.
BIt is a scheme of RBI for reworking the financial structure of big corporate entities facing genuine difficulties.
CIt is a disinvestment plan of the Government regarding Central Public Sector Undertakings.
DIt is an important provision in ‘The Insolvency and Bankruptcy Code’ recently implemented by the Government.
4Mediumprelims2 marks
Fiscal Policy & Budget

Consider the following statements: 1. Tax revenue as a percent of GDP of India has steadily increased in the last decade. 2. Fiscal deficit as a percent of GDP of India 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
5Mediumprelims2 marks
Infrastructure & Industry

With reference to 'National Investment and Infrastructure Fund', which of the following statements is/are correct? 1. It is an organ of NITI Aayog. 2. It has a corpus of ₹ 4,00,000 crore at present. Select the correct answer using the code given below:

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
6Mediumprelims2 marks
Economic Planning & Five-Year Plans

Which of the following has/have occurred in India after its liberalization of economic policies in 1991? 1. Share of agriculture in GDP increased enormously. 2. Share of India’s exports in world trade increased. 3. FDI inflows increased. 4. India’s foreign exchange reserves increased enormously. Select the correct answer using the codes given below:

A1 and 4 only
B2, 3 and 4 only
C2 and 3 only
D1, 2, 3 and 4
7Mediumprelims2 marks
Monetary Policy & Money Supply

With reference to the Constitution of India, the Directive Principles of State Policy constitute limitations upon 1. legislative function. 2. executive function. Which of the above statements is/are correct?

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
8Mediumprelims2 marks
Human Development, Poverty & Employment Schemes

'Recognition of Prior Learning Scheme' is sometimes mentioned in the news with reference to

ACertifying the skills acquired by construction workers through traditional channels.
BEnrolling the persons in Universities for distance learning programmes.
CReserving some skilled jobs to rural and urban poor in some public sector undertakings.
DCertifying the skills acquired by trainees under the National Skill Development Programme.
9Mediummains10 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

Explain various types of revolutions, took place in Agriculture after independence in India. How these revolutions have helped in poverty alleviation and food security in India? <!--qid:MAINS_2017_GS-III_Q42-->

10Mediummains15 marks
Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth

"Industrial growth rate has lagged-behind in the overall growth of Gross-Domestic-Product (GDP) in the post-reform period." Give reasons. How far the recent changes in Industrial-Policy are capable of increasing the industrial growth rate? <!--qid:MAINS_2017_GSIII_Q12-->

11Mediumprelims2 marks
Human Development, Poverty & Employment Schemes

Of the following, which gives 'Global Gender Gap Index' ranking to the countries of the world?

AWorld Economic Forum
BUN Human Rights Council
CUN Women
DWorld Health Organization
12Mediumprelims2 marks
International Trade & WTO

With reference to the 'National Intellectual Property Rights Policy', consider the following statements: 1. It reiterates India's commitment to the Doha Development Agenda and the TRIPS Agreement. 2. Department of Industrial Policy and Promotion is the nodal agency for regulating intellectual property rights in India. Which of the above statements is/are correct?

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
13Mediumprelims2 marks
Digital Payments & Financial Inclusion

What is the purpose of setting up of Small Finance Banks (SFBs) in India? 1. To supply credit to small business units 2. To supply credit to small and marginal farmers 3. To encourage young entrepreneurs to set up business particularly in rural areas. Select the correct answer using the code given below:

A1 and 2 only
B2 and 3 only
C1 and 3 only
D1, 2 and 3
14Mediumprelims2 marks
International Institutions & Reports

With reference to ‘Asia Pacific Ministerial Conference on Housing and Urban Development (APMCHUD)’, consider the following statements: 1. The first APMCHUD was held in India in 2006 on the theme ‘Emerging Urban Forms — Policy Responses and Governance Structure’. 2. India hosts all the Annual Ministerial Conferences in partnership with ADB, APEC and ASEAN. Which of the statements given above is/are correct?

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
15Easyprelims2 marks
International Institutions & Reports

The Global Infrastructure Facility is a/an

AASEAN initiative to upgrade infrastructure in Asia and financed by credit from the Asian Development Bank.
BWorld Bank collaboration that facilitates the preparation and structuring of complex infrastructure Public-Private Partnerships (PPPs) to enable mobilization of private sector and institutional investor capital.
CCollaboration among the major banks of the world working with the OECD and focused on expanding the set of infrastructure projects that have the potential to mobilize private investment.
DUNCTAD funded initiative that seeks to finance and facilitate infrastructure development in the world.
16Mediumprelims2 marks
Digital Payments & Financial Inclusion

Which of the following is a most likely consequence of implementing the ‘Unified Payments Interface (UPI)’?

AMobile wallets will not be necessary for online payments.
BDigital currency will totally replace the physical currency in about two decades.
CFDI inflows will drastically increase.
DDirect transfer of subsidies to poor people will become very effective.
17Mediummains10 marks
Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment

Account for the failure of manufacturing sector in achieving the goal of labour-intensive exports. Suggest measures for more labour-intensive rather than capital-intensive exports. <!--qid:MAINS_2017_GSIII_Q2-->

18Mediumprelims2 marks
Agriculture & Rural Development

Consider the following statements: 1. The Standard Mark of Bureau of Indian Standards (BIS) is mandatory for automotive tyres and tubes. 2. AGMARK is a quality Certification Mark issued by the Food and Agriculture Organisation (FAO). Which of the statements given above is/are correct?

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
19Mediumprelims2 marks
International Institutions & Reports

With reference to ‘Quality Council of India (QCI)’, consider the following statements: 1. QCI was set up jointly by the Government of India and the Indian Industry. 2. Chairman of QCI is appointed by the Prime Minister on the recommendations of the industry to the Government. Which of the above statements is/are correct?

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
20Easyprelims2 marks
Human Development, Poverty & Employment Schemes

The Trade Disputes Act of 1929 provided for

Athe participation of workers in the management of industries.
Barbitrary powers to the management to quell industrial disputes.
Can intervention by the British Court in the event of a trade dispute.
Da system of tribunals and a ban on strikes.
21Mediumprelims2 marks
Fiscal Policy & Budget

With reference to the ‘Prohibition of Benami Property Transactions Act, 1988 (PBPT Act)’, consider the following statements : 1. A property transaction is not treated as a benami transaction if the owner of the property is not aware of the transaction. 2. Properties held benami are liable for confiscation by the Government. 3. The Act provides for three authorities for investigations but does not provide for any appellate mechanism. Which of the statements given above is/are correct ?

A1 only
B2 only
C1 and 3 only
D2 and 3 only
22Mediummains10 marks
Investment models

Examine the development of Airports in India through joint ventures under Public-Private Partnership (PPP) model. What are the challenges faced by the authorities in this regard? <!--qid:MAINS_2017_GS-III_Q41-->

23Mediumprelims2 marks
Human Development, Poverty & Employment Schemes

Consider the following in respect of ‘National Career Service’: 1. National Career Service is an initiative of the Department of Personnel and Training, Government of India. 2. National Career Service has been launched in a Mission Mode to improve the employment opportunities to uneducated youth of the country. Which of the above statements is/are correct?

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
24Mediumprelims2 marks
Taxation

What is/are the most likely advantages of implementing 'Goods and Services Tax (GST)'? 1. It will replace multiple taxes collected by multiple authorities and will thus create a single market in India. 2. It will drastically reduce the 'Current Account Deficit' of India and will enable it to increase its foreign exchange reserves. 3. It will enormously increase the growth and size of economy of India and will enable it to overtake China in the near future.

A1 only
B2 and 3 only
C1 and 3 only
D1, 2 and 3
25Easyprelims2 marks
Human Development, Poverty & Employment Schemes

Who among the following can join the National Pension System (NPS)?

AResident Indian citizens only
BPersons of age from 21 to 55 only
CAll State Government employees joining the services after the date of notification by the respective State Governments
DAll Central Government employees including those of Armed Forces joining the services on or after 1st April, 2004
26Mediummains10 marks
Food processing and related industries in India - scope and significance, location, upstream and downstream requirements, supply chain management

What are the reasons for poor acceptance of cost-effective small processing unit? How the food processing unit will be helpful to uplift the socio-economic status of poor farmers? <!--qid:MAINS_2017_GS-III_Q43-->

27Easyprelims2 marks
Digital Payments & Financial Inclusion

Consider the following statements: 1. The National Payments Corporation of India (NPCI) helps in promoting financial inclusion in the country. 2. NPCI has launched RuPay, a card payment scheme. Which of the above statements is/are correct?

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
28Mediumprelims2 marks
Human Development, Poverty & Employment Schemes

With reference to 'National Skills Qualification Framework (NSQF)', which of the statements given below is/are correct? 1. Under NSQF, a learner can acquire the certification for competency only through formal learning. 2. An outcome expected from the implementation of NSQF is the mobility between vocational and general education.

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
29Mediummains10 marks
Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment

Among several factors for India's potential growth, savings rate is the most effective one. Do you agree? What are the other factors available for growth potential? <!--qid:MAINS_2017_GSIII_Q1-->

30Mediumprelims2 marks
Agriculture & Rural Development

What is/are the advantage/advantages of implementing the 'National Agriculture Market' scheme? 1. It is a pan-India electronic trading portal for agricultural commodities. 2. It provides the farmers access to nationwide market, with prices commensurate with the quality of their produce. Select the correct answer using the code given below:

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
31Mediummains15 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

What are the major reasons for declining rice and wheat yield in the cropping system? How crop diversification is helpful to stabilise the yield of the crops in the system? <!--qid:MAINS_2017_GS-III_Q52-->

32Mediummains15 marks
Government Budgeting

One of the intended objectives of the Union Budget 2017-18 is to 'transform, energise and clean India'. Analyse the measures proposed in the Budget 2017-18 to achieve the objective. <!--qid:MAINS_2017_GSIII_Q11-->

33Mediummains15 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

How do subsidies affect the cropping pattern, crop diversity and economy of farmers? What is the significance of crop insurance, minimum support price and food processing for small and marginal farmers? <!--qid:MAINS_2017_GS-III_Q53-->

34Easyprelims2 marks
Agriculture & Rural Development

Consider the following statements: The nation-wide ‘Soil Health Card Scheme’ aims at 1. Expanding the cultivable area under irrigation. 2. Enabling the banks to assess the quantum of loans to be granted to farmers on the basis of soil quality. 3. Checking the overuse of fertilizers in farmlands. Which of the above statements is/are correct?

A1 and 2 only
B3 only
C2 and 3 only
D1, 2 and 3
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