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15 An isoquant can be L shaped if: A) The two factors of

production are perfect substitutes

B) The two factors of production are imperfect substitutes

C) The two factors of production are complementary

D) The two factors of production are used in fixed proportions

D

C Book: “Micro Economics” Author: M.L.Seth Page No: 267-267

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21 First All India Rural Credit Survey Committee was established in the year:

A) 1947 B) 1949 C) 1952 D) 1954

D

C Survey Starts August:1951 , it covers the period of 1951-1952 Report submitted on :1954 (Question is year of established not year of report submitted) Source:

The Reserve Bank’s Initiatives towards Rural Credit : An Historical

Perspective

(www.rbi.org.in)

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Source: www.rbi.org.in

Section I

The Reserve Bank’s Initiatives towards Rural Credit : An Historical Perspective

As a key sector of the Indian economy, Reserve Bank of India has historical allocated a key priority to the agricultural credit delivery. The Reserve Bank of India Act, 1934 envisaged a special developmental role for the Reserve Bank in the sphere of agricultural credit with responsibility, in particular, for financing seasonal operations and the marketing of crops.

The Rural Banking Enquiry Committee (Thakurdas Committee, 1950) stressed the importance, for an efficient system of agricultural finance, of a sound co-operative credit structure capable of developing close relations with the Bank. The Reserve Bank followed up the Rural Banking Enquiry Committee with the informal conference.

Following the conference’s recommendation, the Reserve Bank decided to organise a Rural Credit Survey and constitute a Standing Advisory Committee on Agricultural Credit.

The All-India Rural Credit Survey, commissioned in August 1951, covered seventy-five districts around the country. Eight villages in each were chosen for the survey, which was based on a sample of fifteen households from each of the selected villages, with a view to recommend practicable policies for the future on rural credit. The survey was completed during November 1951 - July 1952, under the committee of Direction, headed by A. D. Gorwala. Dr. D. R. Gadgil was one of members of the committee. The Report was submitted in August 1954.

The survey was struck by the utter insignificance of co-operatives in providing rural credit. ‘Positive and deliberate’ measures rather than ‘small administrative, functional or other changes’ were required to ensure the success on co-operative credit institutions and enable them to become self-supporting. The State’s tendency in the past had been to ‘over-administer and under - finance’ the co-operative movement, but the Report pointed out the need for an integrated system of co-operation and rural credit. The Report envisaged a key role for the Reserve Bank of India in coordinating the proposed network of co-operative institutions and for its Agricultural Credit Department in over seeing their functioning. The Reserve Bank would occupy a ‘strategic position’ in the co-operative credit sector, while other principal participants would play a major role in rural co-operation, viz., co-operative economic activity and the training of co-operative personnel.

Since cooperative credit institutions depended on the banking system for a number of services, there was a need for positive State association with a defined sector of commercial banking. The Report thus recommended the creation of the State Bank of India through the statutory amalgamation of the Imperial Bank of India and the major State associated banks to undertake an expeditious programme of banking expansion, particularly in the rural areas. The Reserve

Bank was expected to manage the Imperial Bank’s passage to State ownership.

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24 Intensive Agriculture District Programme was introduced during:

A) First Five year plan B) Second Five year

plan C) Third Five year plan D) Fourth Five year

plan

C

B (the Programme was introduced in the year -1960 . Second Five year Plan- Period 1956-1961 The Programme only incorporated in third plan…but introduced during Second Plan

Source:

http://agropedia.iitk.ac.in/content/intensive-

agriculture-district-programme-%E2%80%93-

1960

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Intensive Agriculture district programme – (1960)

Source: http://agropedia.iitk.ac.in/content/intensive-agriculture-district-programme-%E2%80%93-

1960

Intensive Agriculture district programme - (1960)

The Intensive Agriculture District Programme (IADP) was launched as the first major experiment in

intensive agriculture development in the year 1960.

The inadequate rate of growth of agriculture during 1950's was a matter of serious concern to the

government. The steep fall in crop productions in the drought year 1957-58 focused attention on the seriousness of

the food situation up substantially. In these circumstances, the government of India invited a team of agriculture

experts sponsored by the Ford Foundation to make a careful study of Indian agriculture and make

recommendations future actions. The team visited India early in 1959 and submitted its report entitled "India's

food crisis and steps to meet it in April that year. The team observed that "India is facing a crisis in food

production. The crux of the problem is food enough for the rapid increasing population. The team went on to say

that "this target (of 110 million tones) can be achieved if an all out emergency food production programme is

undertaken. The best in Indian agriculture is camparable to the best in other countries, but the average level is

unduly low. The task before the country is to develop ways of raising the low average to the higher levels that

many Indian cultivators have achieved.

The Government of India accepted in general, the recommendations made by this team. The IADP popularly

known as package programme was launched in there districts in 1960 - 61 and four districts in 1962 - 63. The seven

districts were:

1. Thanjavur (Tamil Nadu)

2. West Godavari (Andhra Pradesh)

3. Shahabad (Bihar)

4. Raipur (Madhya Pradesh)

5. Aligarh (Uttar Pradesh)

6. Ludhiana (Punjab)

7. Pali (Rajasthan)

In the second phase the programme was extended to nine more districts by 1963 - 64. In addition to these, this

progrmme has now been extended to 12 more districts in the country and is in operation in 28 districts in all.

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29 Assertion A): Deficit financing is important to increase the rate of economic growth. Reasoning(R): Deficit financing may not always be inflationary

A) Both (A) and (R) are true and (R) explains (A)

B) Both (A) and (R) are true and (R)does not explains (A)

C) (A) is true, but (R) is false D) (A) is false, but (R) is true

A

B $w;W kw;Wk; fhuzk; ,uz;Lk; rhp. Mdhy; gw;whf;Fiw epjpahf;fk; vg;NghJk; gztPf;fj;ij Vw;gLj;jhJ vd;gjw;fhf kl;Lk; gw;whf;Fiw epjpahf;fk; nra;ag;gLtJ fpilahJ. ,jdhy; jhd; nghUshjhu tsh;r;rp Vw;gLk; vd;gJ Fiwe;j msNt…NtW gy fhuzq;fSk; gw;whf;Fiw epjpahf;fj;ij ifas ,Uf;fpd;wd. Source: Book: “Public Finance” Author: M.P.Gurusamy Page No.306-308

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38 Assertion (A) : In india, the ratio of internal public debt to national income is low Reasoning (R): The rate of growth of public debt is higher than the rate of growth of National income.

A) Both (A) and (R) are true and (R) explains (A)

B) Both (A) and (R) are true and (R)does not explains (A)

C) (A) is true, but (R) is false

D) (A) is false, but (R) is true

B A ,e;jpa ehl;L tUkhdj;jpy; fldpd; msT – 2016 – y; GDP apy; mJ 69.5 rjtPjkhf cs;sJ. 2016-y; GDP msT 7-rjtPj cah;thf cs;sJ. Vida ehLfis xg;gpLifapy; ,e;jpahtpy; Njrpa tUthapy; cs;ehl;Lf; fld; msT tpfpjk; FiwthdjhFk;. nghJf;fld; mjpfhpf;Fk; tpfpjk; Njrpa tUtha; mjpfhpf;Fk; tpfpjj;ijtpl mjpfkhf ,Ue;j NghJk; Njrpa tUthapd; msT nghJf;fld; msittpl mjpfkhf ,Ug;gjhy; $w;Wk; fhuzKk; rhpahdJ. kw;Wk; rhpahd tpsf;fKk; MFk; Source: https://tradingeconomics.com/india/government-debt-to-gdp

Source:

http://statisticstimes.com/economy/gdp-

growth-of-india.php

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Source:

https://tradingeconomics.com/india/government-debt-to-gdp

India Government Debt to GDP 1991-2017 | Data | Chart | Calendar

ndia recorded a government debt equivalent to 69.50 percent of the country's Gross Domestic

Product in 2016. Government Debt to GDP in India averaged 73.42 percent from 1991 until 2016, reaching an all time high of 84.20 percent in 2003 and a record low of 66 percent in 1996.

Historical

India Government Last Previous Highest Lowest Unit

Government Debt to GDP 69.50 69.60 84.20 66.00 percent [+]

Government Budget -3.50 -3.90 -2.04 -7.80 percent of GDP [+]

Government Budget Value -3733.61 -2056.22 -94.06 -6056.14 INR Billion [+]

Government Spending 3021.61 3236.03 3805.61 735.82 INR Billion [+]

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India Government Last Previous Highest Lowest Unit

Government Revenues 856.65 365.29 14397.87 0.82 INR Billion [+]

Fiscal Expenditure 4590.26 2421.51 19748.55 136.55 INR Billion [+]

Credit Rating 47.56 [+]

Military Expenditure 55630.70 51295.50 55630.70 2585.80 USD Million [+]

India Government Debt to GDP Notes

Generally, Government debt as a percent of GDP is used by investors to measure a country ability to make future payments on its debt, thus affecting the country borrowing costs and government bond yields. This page provides - India Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. India Government Debt to GDP - actual data, historical chart and calendar of releases - was last updated on July of 2017.

Actual Previous Highest Lowest Dates Unit Frequency

69.50 69.60 84.20 66.00 1991 - 2016 percent Yearly

Export Data API Access

Last Previous Highest Lowest

Japan 250.40 Dec/16 248 250 50.6 % Yearly

Italy 132.60 Dec/16 132 133 90.5 % Yearly

United States 106.10 Dec/16 101 119 31.7 % Yearly

Spain 99.40 Dec/16 99.8 100 16.6 % Yearly

France 96.00 Dec/16 95.6 96 20.7 % Yearly

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Last Previous Highest Lowest

Canada 92.30 Dec/16 91.6 101 45.3 % Yearly

United Kingdom 89.30 Dec/16 89 89.3 31.3 % Yearly

Euro Area 89.20 Dec/16 90.3 92 65 % Yearly

India 69.50 Dec/16 69.6 84.2 66 % Yearly

Brazil 69.49 Dec/16 65.45 69.49 51.27 % Yearly

Germany 68.30 Dec/16 71.2 81 54.7 % Yearly

Netherlands 62.30 Dec/16 65.2 73.6 42.7 % Yearly

Mexico 47.90 Dec/16 43.2 47.9 17.1 % Yearly

China 46.20 Dec/16 42.6 46.2 20.4 % Yearly

Australia 41.10 Dec/16 37.6 41.1 9.7 % Yearly

South Korea 38.60 Dec/16 37.8 38.6 8.24 % Yearly

Switzerland 32.60 Dec/16 33.4 51.6 25.1 % Yearly

Turkey 28.30 Dec/16 27.5 76.1 27.5 % Yearly

Indonesia 27.90 Dec/16 26.9 87.43 22.96 % Yearly

Russia 17.00 Dec/16 15.9 92.1 7.4 % Yearly

Source: http://statisticstimes.com/economy/gdp-growth-

of-india.php

GDP growth of India

Source Ministry of Statistics and Programme Implementation

Planning Commission, Government of India

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International Monetary Fund

Date 08 Mar 2017

Real GDP growth or Gross Domestic Product (GDP) growth of India at constant

(2011-12) prices in the year 2016-17 is estimated at 7.11 percent as compared to the

growth rate of 7.93 percent in 2015-16. Quarterly GDP growth rates are : Q1 (7.2%),

Q2 (7.4%), Q3 (7.0%).

GVA growth rates of Agriculture & allied, Industry, and Services sector are 4.37%,

5.77%, and 7.87%, respectively. Manufacturing growth is at 7.7%. India has

registered highest growth of 11.2% in 'Public Administration, defence and other

services' sector and lowest 1.3% in 'Mining & quarrying' sector.

At current prices, GDP growth rates for year 2016-17 is 11.52%. Growth for Q1, Q2,

Q3 are 10.8%, 11.8%, 10.6%, respectively. GVA growth rates of Agriculture & allied,

Industry, and Services sector are 9.64%, 8.32%, and 11.87%, respectively.

At constant prices GVA (Gross Value Added), GNI (Gross National Income), NNI

(Net National Income) growth of India is estimated at 6.67%, 7.17% and 7.24%,

respectively. At curent prices these figures is 10.43%, 11.60% and 11.61%.

Data from 1950-51 to 2011-12 is from 2004-05 series and 2011-12 to 2014-15 is from

2011-12 series.

According to IMF World Economic Outlook (October-2016), GDP growth rate of

India in 2016 is 7.6% and India is 4th fastest growing nation of the world. Average

growth rate from 1980 to 2016 stands at 6.32%, reaching an all time high of 10.26%

in 2010 and a record low of 1.06% in the 1991.

In previous methedology, Average growth rate from 1951 to 2014 stands at 4.96%,

reaching an all time high of 10.16% in 1988-89 and a record low of -5.2% in the

1979-80. In 4 years, Growth was negative.

2011-12 series

Year

Growth at 2011-12 prices Growth at current prices

GDP GVA GNI NNI GDP GVA GNI NNI

2016-17 7.11 6.67 7.17 7.24 11.52 10.43 11.60 11.61

2015-16 7.93 7.83 7.93 7.96 9.99 8.56 10.00 10.24

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2011-12 series

Year

Growth at 2011-12 prices Growth at current prices

GDP GVA GNI NNI GDP GVA GNI NNI

2014-15 7.18 6.94 7.25 7.17 10.65 10.65 10.72 10.71

2013-14 6.54 6.21 6.46 6.16 12.97 12.61 12.89 12.90

2012-13 5.48 5.45 5.17 4.59 13.86 13.55 13.52 13.28

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