Indian Economy and Issues [IAS (Admin.) IAS Mains GS Paper 3 (Science-Tech, Economy, Environment, & Disaster Management)]: Questions 71 - 75 of 78

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Question 71

Indian Economy and Issues
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Critically analyze the merits and shortcomings of three new measures that were announced in the recent union budget with an aim to address agrarian distress in India. Also examine what else could have been introduced in the budget to address agrarian distress. (250 Words)

Explanation

Background:

Indian agriculture is undergoing a tough time with farmer suicides still taking place. So tackling farm distress is essential to government՚s target of doubling farmers income by 2022. So it launched operation green, raised MSP, launched Govardhan Yojana etc.

Raise in MSP:

In the recent budget, government has decided to keep MSP for all th…

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Question 72

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What do you understand by moral hazard? It is said that recapitalisation of banks adds to the risk of moral hazard. Elaborate. (150 Words)

Explanation

Introduction:

In pure economic terms Moral hazard is a situation in which one party gets involved in a risky event knowing that it is protected against the risk and the other party will incur the cost. With recapitalization of banks the debtor enjoys a situation of semi write off of loans which is hazardous to their disciplined behavior and also to …

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Question 73

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On what basis is the World Bank՚s Ease of Doing Business global rankings prepared? Why India has dismal ranking in one of the components of Ease of Doing Business index i.e.. “enforcing contracts” ? Why is it important to improve this component? Examine. (250 Words)

Explanation

Background:

India for the first time moved into the top 100 in the World Bank՚s Ease of Doing Business global rankings on the back of sustained business reforms over the past several years.

Basis of World Bank՚s Ease of Doing Business:

Nation՚s ranking in the “ease of doing business” index is based on the average of 10 sub-indices which are:

  • Starting a…

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Question 74

Indian Economy and Issues
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Why is it important for India to create more salaried jobs? How it can create such jobs? Discuss. (250 Words)

Explanation

Background:

The unemployment rate in 2015 - 16 was 5 % of the labour force, up from 4.9 % in 2013 - 14. Around 12 million people enter the Indian labour market every year and India is undergoing a phase of jobless growth. This makes it necessary for India to focus on job creation.

Why is It Important to Create More Salaried Jobs?

  • India needs to create…

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Question 75

Indian Economy and Issues
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In terms of long-run economic prospects, do you think India will be ahead of China in near future? Substantiate your views emphasising on the role of India՚s democratic and secular credentials. (250 Words)

Explanation

Introduction:

The estimate that India is growing at 7.1 % and China growth has shrink to 7.6 % by IMF and recognition of India as a bright spot in world economy has created many hopes and debates about India overtaking China in near future. It is perceived that the difference between the political systems of two countries play important role in dete…

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