India's Economic Transition: Key Insights
48 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the projected per capita income for India by 2022-23?

  • USD 3,500
  • USD 4,000
  • USD 2,500
  • USD 3,000 (correct)
  • What will completing India's economic transition help eliminate?

  • Foreign investment
  • Inefficient technology use
  • All forms of government regulations
  • Poverty and malnutrition (correct)
  • What is the main goal of the 'Strategy for New India @ 75'?

  • To achieve sustainable growth and prosperity (correct)
  • To decrease the population density in urban areas
  • To enhance military spending
  • To promote only industrial growth
  • Who is the Vice Chairman of NITI Aayog mentioned in the content?

    <p>Dr. Rajiv Kumar</p> Signup and view all the answers

    What collaborative effort is emphasized for achieving New India?

    <p>Team India collaboration</p> Signup and view all the answers

    Which of the following is NOT listed as a focus area for India's economic transition?

    <p>Military Innovations</p> Signup and view all the answers

    What is a key feature of the recommendations in the Strategy Document?

    <p>Detailed and practical recommendations</p> Signup and view all the answers

    What does India's economic transition aim to provide by 2022?

    <p>A solid foundation for growth</p> Signup and view all the answers

    What is the projected size of the economy in real terms by 2022-23?

    <p>USD 4 trillion</p> Signup and view all the answers

    What is the expected growth rate for the economy by 2022-23?

    <p>9-10 percent</p> Signup and view all the answers

    What structural reform is needed for sustained growth?

    <p>Addressing binding constraints</p> Signup and view all the answers

    What is the current investment rate as a share of GDP?

    <p>29 percent</p> Signup and view all the answers

    What is the target for the share of manufacturing in GDP by 2022-23?

    <p>Increase but not specified</p> Signup and view all the answers

    What was the export value of goods and services in 2017-18?

    <p>USD 478 billion</p> Signup and view all the answers

    What is the aim for exports of goods and services by 2022-23?

    <p>USD 800 billion</p> Signup and view all the answers

    Which sector is mentioned as being relatively capital intensive within manufacturing?

    <p>Automobiles</p> Signup and view all the answers

    What was India’s tax-GDP ratio as mentioned?

    <p>17 percent</p> Signup and view all the answers

    To what percentage should India aim to increase its tax-GDP ratio by 2022-23?

    <p>22 percent</p> Signup and view all the answers

    Which countries have higher tax-GDP ratios compared to India?

    <p>Brazil and South Africa</p> Signup and view all the answers

    Which of the following sectors is NOT mentioned as an area for public investment?

    <p>Education</p> Signup and view all the answers

    What is a critical effort outlined to enhance public investment?

    <p>Rationalize direct taxes</p> Signup and view all the answers

    Which tax-related initiative is mentioned as a means to increase collections?

    <p>Property tax mobilization</p> Signup and view all the answers

    What economic measure is noted to contribute positively to tax-GDP ratio enhancement?

    <p>Demonetization and GST</p> Signup and view all the answers

    Compared to OECD countries, how does India's tax-GDP ratio measure up?

    <p>It is half the average of OECD countries</p> Signup and view all the answers

    What percentage of China's workforce is employed in agriculture?

    <p>29%</p> Signup and view all the answers

    Which sector accounts for the largest percentage of employment in China?

    <p>Services</p> Signup and view all the answers

    What is the share of GVA (Gross Value Added) from industry in China?

    <p>13.7%</p> Signup and view all the answers

    What trend is expected for workers currently employed in agriculture in China?

    <p>They will seek jobs in other sectors.</p> Signup and view all the answers

    What goal do the new measures introduced by the central government aim to achieve?

    <p>To simplify compliance with labor laws.</p> Signup and view all the answers

    What percentage of China's workforce is projected to be employed in agriculture in the future?

    <p>29%</p> Signup and view all the answers

    Which of the following countries has a higher percentage of its workforce employed in agriculture than China?

    <p>India</p> Signup and view all the answers

    What is the role of the new measures introduced by the government concerning labor laws?

    <p>To rationalize labor laws and eliminate redundancy.</p> Signup and view all the answers

    What is a significant issue regarding wages in the informal sector in India?

    <p>Wages can be one twentieth of those in the formal sector.</p> Signup and view all the answers

    What is one of the proposed changes to improve labor laws in India?

    <p>Codify and simplify labor laws for better compliance.</p> Signup and view all the answers

    What needs to be recognized to improve the situation of domestic workers in India?

    <p>Their rights and better working conditions.</p> Signup and view all the answers

    What is a challenge faced in the compliance of labor laws in India?

    <p>The complexity and multiplicity of laws make compliance difficult.</p> Signup and view all the answers

    What is one factor contributing to the dualistic nature of the labor market in India?

    <p>A large number of unregulated workers.</p> Signup and view all the answers

    What is one suggested method to enhance female labor force participation?

    <p>Introduce more flexible working conditions.</p> Signup and view all the answers

    Which of the following best describes the remuneration in the informal sector?

    <p>It can be extremely low compared to the formal sector.</p> Signup and view all the answers

    How many labor laws were under the central government as of 2016?

    <p>44 labor laws.</p> Signup and view all the answers

    What is the initiative aimed to expand the number of Atal Tinkering Labs (ATLs) to by 2020?

    <p>10,000</p> Signup and view all the answers

    Who should be included on boards or committees related to government procurement?

    <p>Experts and scientific practitioners</p> Signup and view all the answers

    What is a key goal of the DIPP’s Public Procurement Order 2017?

    <p>To promote Make in India products/services</p> Signup and view all the answers

    What will be assessed to consider further expansion of Atal Tinkering Labs?

    <p>Outcomes of the first phase</p> Signup and view all the answers

    What type of centers does AIM aim to support for promoting entrepreneurship?

    <p>World-class incubation centers</p> Signup and view all the answers

    Which areas are specified for R&D involvement by foreign collaborators?

    <p>Emerging areas of basic sciences</p> Signup and view all the answers

    In the technical evaluation of goods/services, what preference is aimed for Indian start-ups?

    <p>Preference in evaluation</p> Signup and view all the answers

    What is the purpose of organizing quarterly workshops for procurement managers?

    <p>To create awareness about Public Procurement Order</p> Signup and view all the answers

    Study Notes

    Strategy for New India @ 75

    • The collective effort of 1.25 billion Indians is transforming the country
    • The Union Government is an active partner in the people's quest for building a New India by 2022
    • This is an endeavor to create an ecosystem that enables every Indian to reach his or her full potential
    • Policy is a necessary catalyst for change
    • Economic transformation cannot happen without public participation
    • Development must become a Jan Andolan
    • The Strategy for New India @ 75 was put together by NITI Aayog
    • It is an attempt to bring innovation, technology, enterprise and efficient management together to policy formulation and implementation
    • Encourages discussion and debate, and invites feedback for further refining policy approach.
    • The document was circulated to all the states and union territories, receiving numerous comments and suggestions
    • This strategy reflects ground realities and a collective consensus on addressing the challenges and achieving the goals for a New India by 2022-23

    Topic Subtitle

    • 41 different areas were identified in the strategy; some require a sharper focus on implementing already existing projects while others need new designs and initiatives to achieve India's true potential.
    • Each chapter of the strategy document summarizes the current status of the sector
    • The objectives of each sector are detailed
    • Measures are suggested to tackle the identified constraints

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Related Documents

    Strategy for New India @ 75 PDF

    Description

    This quiz covers critical aspects of India's economic transition and the 'Strategy for New India @ 75'. It explores projected income, growth rates, investment goals, and the collaborative efforts needed to achieve these objectives by 2022-23. Test your knowledge on India's economic plans and their implications!

    More Like This

    Economy of India Quiz
    10 questions
    Indian Economy Quiz
    0 questions

    Indian Economy Quiz

    GlamorousVictory avatar
    GlamorousVictory
    Economic Transition in India Quiz
    10 questions
    Economy of India Transition Quiz
    15 questions
    Use Quizgecko on...
    Browser
    Browser