KSLU Corner™ New AIBE previous QP

Economic Development in India

Semester 2 · 15 topics in 5 units

Past question papers for Economic Development in India

Unit I 5 topics

  1. Growth, development and the features of the Indian economyEconomic growth and economic development distinguished, the characteristics of a developed economy, and the features of the Indian economy as a developing, mixed and federal economy in transition from agriculture to services.5 min
  2. Agriculture in Indian development: its role, the Green Revolution and agricultural labourWhy agriculture matters to Indian development, the causes of low farm productivity, the Green Revolution and its results, and the problems of agricultural labourers with the measures taken for them.5 min
  3. Agricultural marketing and agricultural financeHow farm produce is sold in India, the defects of agricultural marketing and the measures to improve it (regulated markets, warehousing, MSP, e-NAM), followed by the need for agricultural finance, its sources and the institutional credit structure.5 min
  4. Industry: capital formation, foreign direct investment and MNCsCapital formation and its role in industrial growth, the sources of capital, foreign direct investment and its routes, sectoral caps and merits and demerits, and multinational corporations in India.5 min
  5. The service sector since 1990: banking, insurance, tourism, medical and software servicesWhy services became the largest sector of the Indian economy, the role of banking and the reforms since 1991, insurance after the IRDA Act, and the growth of tourism, medical and software services since 1990.5 min

Unit II 2 topics

  1. National income: meaning, concepts, methods of measurement and difficultiesDefinitions of national income, GDP, GNP, NNP and the other aggregates, the product, income and expenditure methods with a worked numerical, how India estimates national income, and the difficulties of measurement in India.6 min
  2. Parallel economy and black moneyMeaning of the parallel economy and black money, why its magnitude cannot be measured precisely, the factors that generate black money, its consequences for the economy, and the legal and policy measures to control it, including demonetisation.5 min

Unit III 3 topics

  1. Reserve Bank of India: functions and roleEstablishment and organisation of the RBI, its traditional central-banking functions (note issue, banker to government, bankers' bank, controller of credit, custodian of foreign exchange), its regulatory, supervisory and promotional role, and the Monetary Policy Committee.5 min
  2. Monetary policy and methods of credit control: quantitative and qualitativeObjectives of monetary policy, the quantitative instruments (bank rate, repo and the liquidity adjustment facility, open market operations, CRR, SLR) and the qualitative or selective instruments (margins, credit ceilings, consumer credit, moral suasion, direct action), with a worked example on CRR and the money multiplier.5 min
  3. The working of the Indian monetary system and the Chakravarty Committee ReportStructure of the Indian monetary system (currency, measures of money supply, banking and money markets, the monetary policy framework), followed by the Chakravarty Committee's diagnosis and recommendations of 1985 and how later reforms carried them out.5 min

Unit IV 2 topics

  1. New Industrial Policy, 1991 and the changing role of the public sectorBackground to the 1991 reforms, the features of the New Industrial Policy of 24 July 1991 and its assessment, the role and contribution of the public sector in Indian development, its problems, and the reforms from MoUs and Navratnas to disinvestment and the 2021 public sector enterprise policy.5 min
  2. Small-scale industries, small sector industrial policy and the Abid Hussain CommitteeMeaning and present classification of micro, small and medium enterprises, their role in Indian development, problems of cottage and small-scale industries, the evolution of small sector policy from 1948 to the MSMED Act, and the recommendations of the Abid Hussain Committee (1997).5 min

Unit V 3 topics

  1. Globalisation, emerging trends in India's foreign trade and the EXIM policyMeaning and features of globalisation, the steps India took after 1991 and their effects on the economy, the changing volume, composition and direction of India's foreign trade, and the evolution of the EXIM policy to the Foreign Trade Policy 2023.5 min
  2. India and the WTO: objectives, functions, agreements and impactFrom GATT to the WTO, the objectives, principles, functions and structure of the WTO, its main agreements (AoA, TRIPS, TRIMS, GATS), and the impact of WTO membership on Indian agriculture, industry, services and patents, with India's positions in later negotiations.5 min
  3. The World Bank and the International Monetary FundThe Bretton Woods institutions: the objectives, functions and structure of the World Bank Group and of the IMF, the difference between the two, India's relationship with each, including the 1991 crisis, and the main criticisms.5 min