Q. How does the MGNREGA scheme contribute to inclusive growth?
A.
By promoting exports
B.
By providing guaranteed employment
C.
By increasing foreign investments
D.
By enhancing industrial output
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Solution
The MGNREGA scheme provides guaranteed employment to rural households, thereby ensuring income and contributing to inclusive growth.
Correct Answer:
B
— By providing guaranteed employment
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Q. What is the impact of inflation on inclusive growth?
A.
It always benefits the poor
B.
It can erode purchasing power
C.
It has no effect on growth
D.
It increases savings
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Solution
Inflation can erode purchasing power, particularly affecting the poor and undermining efforts towards inclusive growth.
Correct Answer:
B
— It can erode purchasing power
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Q. What is the primary goal of inclusive growth in the Indian economy?
A.
Maximizing GDP growth
B.
Reducing income inequality
C.
Increasing foreign investment
D.
Enhancing export performance
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Solution
Inclusive growth aims to ensure that the benefits of economic growth are distributed fairly across society, reducing income inequality.
Correct Answer:
B
— Reducing income inequality
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Q. What is the significance of the Pradhan Mantri Jan Dhan Yojana in promoting inclusive growth?
A.
It increases tax revenue
B.
It provides direct cash transfers
C.
It aims to provide banking access to all
D.
It focuses on industrial development
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Solution
The Pradhan Mantri Jan Dhan Yojana aims to provide banking access to all, which is essential for financial inclusion and inclusive growth.
Correct Answer:
C
— It aims to provide banking access to all
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Q. What role does microfinance play in the context of inclusive growth in India?
A.
It increases corporate investments
B.
It provides loans to small businesses
C.
It supports large-scale industries
D.
It focuses on government funding
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Solution
Microfinance provides small loans to individuals and small businesses, enabling them to invest and grow, thus contributing to inclusive growth.
Correct Answer:
B
— It provides loans to small businesses
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Q. Which financial instrument is crucial for funding small and medium enterprises (SMEs) in India?
A.
Equity shares
B.
Debentures
C.
Venture capital
D.
Government bonds
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Solution
Venture capital is crucial for funding SMEs as it provides the necessary capital for growth and innovation, contributing to inclusive growth.
Correct Answer:
C
— Venture capital
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Q. Which of the following is a challenge to achieving inclusive growth in India?
A.
High literacy rates
B.
Urbanization
C.
Income disparity
D.
Technological advancement
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Solution
Income disparity is a significant challenge to achieving inclusive growth, as it limits access to resources and opportunities for many individuals.
Correct Answer:
C
— Income disparity
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Q. Which of the following is a function of the RBI that supports inclusive growth?
A.
Regulating foreign exchange
B.
Issuing currency notes
C.
Promoting financial literacy
D.
Setting interest rates
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Solution
Promoting financial literacy is a function of the RBI that helps empower individuals to make informed financial decisions, supporting inclusive growth.
Correct Answer:
C
— Promoting financial literacy
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Q. Which of the following is a key indicator of inclusive growth?
A.
Per capita income
B.
Unemployment rate
C.
Poverty rate
D.
Inflation rate
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Solution
The poverty rate is a key indicator of inclusive growth as it reflects the proportion of the population that is unable to meet basic needs.
Correct Answer:
C
— Poverty rate
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Q. Which policy is primarily used by the Reserve Bank of India (RBI) to promote inclusive growth?
A.
Monetary policy
B.
Fiscal policy
C.
Trade policy
D.
Industrial policy
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Solution
The RBI uses monetary policy to influence interest rates and credit availability, which can promote inclusive growth by making finance accessible.
Correct Answer:
A
— Monetary policy
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