Economics UPSC PYQ 2024

With reference to the Digital India Land Records Modernisation Programme, consider the following statements : 1. To implement the scheme, the Central Government provides 100% funding. 2. Under the Scheme, Cadastral Maps are digitised. 3. An initiative has been undertaken to transliterate the Records of Rights from local language to any of the languages recognized by the Constitution of India. Which of the statements given above are correct?

Derive Pareto optimality conditions in production in a two commodities-two factors-two producers framework. Show that Pareto optimality does not necessarily guarantee for equity.

Answer the following questions in about 150 words each: <!--qid:MAINS_2024_Economics-I_Q5-->

Explain managed floating and sterilized interventions for exchange rate.

Answer the following questions in about 150 words each: <!--qid:MAINS_2024_Economics-I_Q1-->

Calculate the equilibrium national income (Y) and interest rate (r) by using an appropriate macroeconomic model from the information given below : Aggregate saving function : s = -40 + 0.5(Y - T) + 0.25r Tax function : T = 20 + 0.2Y Investment function : I = 20 - 0.25r Money demand function : L = 0.4Y - 0.5r Aggregate money supply : M = 40 (rupees in crore) How will the equilibrium values change when money supply is increased by ₹ 20 crore?

Write down the major assumptions behind Neoclassical Loanable Funds Theory of Interest.

Industrial pollution of river water is a significant environmental issue in India. Discuss the various mitigation measures to deal with this problem and also the government’s initiatives in this regard. <!--qid:MAINS_2024_GS-III_Q7-->

Answer the following questions in about 150 words each : 10×5 = 50 <!--qid:MAINS_2024_Economics-II_Q5-->

For faster increase in farmers' income, is it necessary to link them with corporate -sector in India? Discuss.

Discuss how carbon trading is helpful in reducing environmental degradation.

Explain the concept of underemployment equilibrium with graphical illustration. Why full employment cannot be reached automatically in Keynes' approach? Analyse.

With reference to physical capital in Indian economy, consider the following pairs: Items | Category --- | --- 1. Farmer's plough | Working capital 2. Computer | Fixed capital 3. Yarn used by the weaver | Fixed capital 4. Petrol | Working capital How many of the above pairs are correctly matched?

Consider the following statements: Statement-I: If the United States of America (USA) were to default on its debt, holders of US Treasury Bonds will not be able to exercise their claims to receive payment. Statement-II: The USA Government debt is not backed by any hard assets, but only by the faith of the Government. Which one of the following is correct in respect of the above statements?

Consider the following statements:1. In India, Non-Banking Financial Companies (NBFCs) can access the Liquidity Adjustment Facility window of the Reserve Bank of India.2. In India, Foreign Institutional Investors (FIIs) can hold Government Securities (G-Secs).3. In India, Stock Exchanges can offer separate trading platforms for debts.Which of the statements given above is/are correct?

With reference to the Indian economy, 'Collateral Borrowing and Lending Obligations' are the instruments of:

Describe why farmers derived little benefits from the commercialisation of agriculture in pre-independence India.

With reference to the rules imposed by the Reserve Bank of India while treating foreign banks, consider the following statements:1. There is no minimum capital requirement for wholly owned banking subsidiaries in India.2. For wholly owned banking subsidiaries in India, at least 50% of the board members should be Indian nationals.Which of the statements given above is/are correct?

What are the various forms of subsidies that go into agriculture sector in India? What is the justification for these?

What are the major challenges faced by Indian irrigation system in recent times? State the measures taken by the government for efficient irrigation management. <!--qid:MAINS_2024_GS-III_Q13-->

What schemes are launched by the Government to deal with the problem of unemployment in India ? Why the problem still persists?

Examine the alternative model of planning given by C. N. Vakil.

Is poverty 'capability deprivation'? Discuss.

Distinguish between public goods and private goods. Explain how market failure occurs in the case of public goods.

With reference to the rule/rules imposed by the Reserve Bank of India while treating foreign banks, consider the following statements: 1. There is no minimum capital requirement for wholly owned banking subsidiaries in India. 2. For wholly owned banking subsidiaries in India, at least 50% of the board members should be Indian nationals. Which of the statements given above is/are correct?

Discuss the changes made by the Government of India in the fiscal policy since liberalisation. How far these changes proved to be conducive to growth with social justice in the country? Discuss.

What are asteroids? How real is the threat of them causing extinction of life? What strategies have been developed to prevent such a catastrophe? <!--qid:MAINS_2024_GS-III_Q16-->

Discuss the issues (pros and cons) in the debate over import substitution and export promotion strategy for developing countries. Which strategy would you favour and why? Explain.

Is service-led growth in India sustainable? Comment.

Whether the role of women in agriculture has changed after liberalisation in India? Comment.

Explain the role of millets for ensuring health and nutritional security in India. <!--qid:MAINS_2024_GS-III_Q4-->

What role do environmental NGOs and activists play in influencing Environmental Impact Assessment (EIA) outcomes for major projects in India? Cite four examples with all important details. <!--qid:MAINS_2024_GS-III_Q8-->

The total fertility rate in an economy is defined as:

Show that ad valorem tax is preferable to specific sales tax from a firm's point of view in generating the same level of tax revenue.

With reference to the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Yojana, consider the following statements : 1. The entry age group for enrolment in the scheme is 21 to 40 years. 2. Age specific contribution shall be made by the beneficiary. 3. Each subscriber under the scheme shall receive a minimum pension of ₹ 3,000 per month after attaining the age of 60 years. 4. Family pension is applicable to the spouse and unmarried daughters. Which of the statements given above is/are correct?

Consider the following statements: Statement-I: India does not import apples from the United States of America. Statement-II: In India, the law prohibits the import of Genetically Modified food without the approval of the competent authority. Which one of the following is correct in respect of the above statements?

Consider the following statements in respect of the digital rupee: 1. It is a sovereign currency issued by the Reserve Bank of India (RBI) in alignment with its monetary policy. 2. It appears as a liability on the RBI's balance sheet. 3. It is insured against inflation by its very design. 4. It is freely convertible against commercial bank money and cash. Which of the statements given above are correct?

Why in spite of massive expansion of institutional finance, contribution of non-institutional sources in providing agricultural credit is still predominant?

Describe the major components used in Human Development Index (HDI) by the United Nations Development Programme (UNDP). Write down the methodological limitations of this index. Suggest appropriate method to eliminate these limitations.

With reference to Corporate Social Responsibility (CSR) rules in India, consider the following statements: 1. CSR rules specify that expenditures that benefit the company directly or its employees will not be considered as CSR activities. 2. CSR rules do not specify minimum spending on CSR activities. Which of the statements given above is/are correct?

Distinguish between fiscal federalism, fiscal consolidation and cooperative federalism. Comment on the outcome of cooperative federalism in India.

In India, which of the following can trade in Corporate Bonds and Government Securities? 1. Insurance Companies 2. Pension Funds 3. Retail Investors Select the correct answer using the code given below:

What are the causes of persistent high food inflation in India? Comment on the effectiveness of the monetary policy of the RBI to control this type of inflation. <!--qid:MAINS_2024_GS-III_Q2-->

Consider the following:1. Exchange-Traded Funds (ETF)2. Motor vehicles3. Currency swapWhich of the above is/are considered financial instruments?

Explain how the equilibrium terms of trade are determined by using offer curves of the trading partners.

Elucidate the importance of buffer stocks for stabilizing agricultural prices in India. What are the challenges associated with the storage of buffer stock? Discuss. <!--qid:MAINS_2024_GS-III_Q14-->

Describe the trend in the growth rate of national income in India from 1950 to 1980 and its impact on poverty.

With reference to the sectors of the Indian economy, consider the following pairs:Economic activity - Sector1. Storage of agricultural produce - Secondary2. Dairy farming - Primary3. Cotton textile manufacturing - TertiaryWhich of the pairs given above is/are correctly matched?

With reference to the sectors of the Indian economy, consider the following pairs: Economic activity | Sector --- | --- 1. Storage of agricultural produce | Secondary 2. Dairy farm | Primary 3. Mineral exploration | Tertiary 4. Weaving cloth | Secondary How many of the pairs given above are correctly matched?

Write down the behavioural assumptions used in Marshallian and Walrasian approaches of market stability. Show that these two approaches become conflicting when both the demand and supply curves are positively sloped.

What is the present world scenario of intellectual property rights with respect to life materials? Although India is second in the world to file patents, still only a few have been commercialized. Explain the reasons behind this less commercialization. <!--qid:MAINS_2024_GS-III_Q5-->

Consider the following statements: S tatement-I: Syndicated lending spreads the risk of borrower default across multiple lenders. Statement-II : The syndicated loan can be a fixed amount/lump sum of funds, but cannot be a credit line. Which one of the following is correct in respect of the above statements?

Consider the following plants:1) Groundnut2) Horse-gram3) SoybeanHow many of the above belong to the pea family?

What are the implications of "PM-Kisan Samman Nidhi" scheme?

What is the technology being employed for electronic toll collection on highways? What are its advantages and limitations? What are the proposed changes that will make this process seamless? Would this transition carry any potential hazards? <!--qid:MAINS_2024_GS-III_Q6-->

Consider the following: 1. Exchange-Traded Funds (ETF) 2. Motor vehicles 3 .Currency swap Which of the above is/are considered financial instruments?

Discuss why 'Laissez Faire' was not good for India during the pre-independence India.

What are the main objectives of monetary policy adopted by the R.B.I. during last 5 years? Discuss the steps taken by the R.B.I. to encourage investment and maintain price-stability during this period.

Discuss the elasticity approach and absorption approach for adjustments in balance of payments.

What are the main features of 'TRIMS'? How does it act against India's interest?

"Higher tariffs do not increase employment, they just redistribute the unemployed." Do you agree with the statement? Explain.

Mention the items of 'Economic Drain' from India as conceived by Dadabhai Naoroji.

What are the advantages and disadvantages of public-private partnership model for economic development? What are the key prerequisites for success of PPP model? Explain giving examples.

What is the difference between Fisher's theory and Cambridge cash balance approach to quantity theory of money? What is the criticism of each? Which one is more relevant in present context? Justify.

What is the need for expanding the regional air connectivity in India? In this context, discuss the government’s UDAN Scheme and its achievements. <!--qid:MAINS_2024_GS-III_Q12-->

Discuss the inadequacies in the process of industrialisation in the pre-liberalised India.

Describe the mechanism of credit creation by commercial banks and its implications on multiplier effect. Analyse some of the limitations that can jeopardise the implications on multiplier effect.

Differentiate between perceived demand curve and proportional demand curve in a monopolistic competitive market. Explain why the proportional demand curve is steeper than the perceived demand curve.

Evaluate the policy of Government of India with regard to foreign investment in the country. Do you feel that there is a need for control of their activities?

Consider the following statements: Statement-I: Syndicated lending spreads the risk of borrower default across multiple lenders. Statement-II: The syndicated loan can be a fixed amount/lump sum of funds, but cannot be a credit line. Which one of the following is correct in respect of the above statements?

Consider the following statements regarding World Toilet Organization: [2024] 1. It is one of the agencies of the United Nations. 2. World Toilet Summit, World Toilet Day and World Toilet College are the initiatives of this organization, to inspire action to tackle the global sanitation crisis. 3. The main focus of its function is to grant funds to the least developed countries and developing countries to achieve the end of open defecation. Which of the statements given above is/are correct?

Highlight the role of MSMEs in Indian Economy. What steps have been taken by the Government to enhance its contribution?

Describe the short-run and long-run equilibrium of a firm under monopolistic competition.

In India, which of the following can trade in Corporate Bonds and Government Securities?1. Insurance Companies2. Pension Funds3. Retail InvestorsSelect the correct answer using the code given below:

Discuss why the railway system developed by the East India Company went against the Indian interest.

Consider the following statement:Statement-I: India does not import apples from the United States of America.Statement-II: In India, the law prohibits the import of Genetically Modified food without the approval of the competent authority.Which one of the following is correct in respect of the above statements?

The world is facing an acute shortage of clean and safe freshwater. What are the alternative technologies which can solve this crisis? Briefly discuss any three such technologies citing their key merits and demerits. <!--qid:MAINS_2024_GS-III_Q15-->

Explain the various estimates of rural poverty in India. What measures have been adopted by the Government to reduce it?

Discuss the inverted 'U' shaped hypothesis by Kuznets in describing the relationship between inequality and economic growth. How is this hypothesis useful for developing countries?

Discuss the merits and demerits of the four ‘Labour Codes’ in the context of labour market reforms in India. What has been the progress so far in this regard? <!--qid:MAINS_2024_GS-III_Q11-->

By using Stolper-Samuelson theorem, discuss the possible effects of free trade on income inequalities in developing countries.

Examine the role of treasury bills in controlling money supply.

Critically examine 'per capita' GDP as a crude indicator of development.

What steps have been taken by the Government of India to increase exports during the last 10 years? Have these yielded the desired result? Examine.

What were the factors responsible for the successful implementation of land reforms in some parts of the country? Elaborate. <!--qid:MAINS_2024_GS-III_Q3-->

Explain the problems faced by the Jute industry during pre-independence India. Why the problem aggravated after partition of the country?

Examine the pattern and trend of public expenditure on social services in the post-reforms period in India. To what extent has this been in consonance with achieving the objective of inclusive growth? <!--qid:MAINS_2024_GS-III_Q1-->

Distinguish between warranted rate of growth and natural rate of growth. Explain how knife-edge instability problem occurs in Harrod's model of economic growth.

Comment on FDI in Multi-brand Retail sector in India.

Why second green revolution was advocated for India? Mention the recommendation of the National Commission for Farmers in this regard.

What are the implications of depreciating Rupee on Indian Economy?

With reference to physical capital in the Indian economy, consider the following pairs:Items - Category1. Farmer’s plough - Working capital2. Computer - Fixed capital3. Seeds - Fixed capitalWhich of the pairs given above is/are correctly matched?

Consider the following statements: 1. In India, Non-Banking Financial Companies can access the Liquidity Adjustment Facility window of the Reserve Bank of India. 2. In India, Foreign Institutional Investors can hold the Government Securities (G-Secs). 3. In India, Stock Exchanges can offer separate trading platforms for debts. Which of the statements given above is/are correct?

Discuss critically the phenomenon of classical dichotomy.

Why the Mahalanobis strategy of development was abandoned? What were its inadequacies?

Explain how the structural transformation, in the economy, takes place with surplus labour as per Lewis theory of economic development.

Answer the following questions in about 150 words each : 10×5 = 50 <!--qid:MAINS_2024_Economics-II_Q1-->

Critically analyse classical theory of interest.

Explain how the elasticity of demand for foreign exchange is influenced by the elasticity of home demand for imports and by the elasticity of home supply of import-competing goods.