Q771. Identify the correct pair among the following initiatives operating under the Skill India Mission:
Indian Economy: RAS Prelims MCQs
848 RAS Prelims practice MCQs on the Indian economy are on this page, in 10 chapters. They cover economic growth and development, the Human Development Index, monetary and fiscal policy and the Union Budget, fiscal federalism, agricultural development, industrial reforms and LPG, the service sector, energy and transport, skill development and employment, and social justice. Each question has an answer and an explanation.
Practice questions based on the RPSC RAS Prelims syllabus. They follow the exam pattern but are not past-paper questions.
Showing 771–780 of 848 questions
Browse Indian Economy chapters
Q772. Consider the following statements regarding Apprenticeship Training in India:
I. The Apprentices Act, 1961 makes it legally optional for all companies, regardless of size, to engage apprentices.
II. Apprentices are legally considered regular employees and are entitled to provident fund and bonus benefits.
III. The National Apprenticeship Training Scheme (NATS) covers degree and diploma holders in engineering and non-engineering streams.
Which of the above statement(s) is/are incorrect?
I. The Apprentices Act, 1961 makes it legally optional for all companies, regardless of size, to engage apprentices.
II. Apprentices are legally considered regular employees and are entitled to provident fund and bonus benefits.
III. The National Apprenticeship Training Scheme (NATS) covers degree and diploma holders in engineering and non-engineering streams.
Which of the above statement(s) is/are incorrect?
Explanation
The Apprentices Act, 1961 makes engaging apprentices mandatory for establishments above a size, not optional, and apprentices are trainees and not regular employees. NATS covers degree and diploma holders, so only I and II are incorrect.
Q773. Which of the following examples is the odd one out when describing the phenomenon of structural unemployment?
Explanation
A coal miner displaced by solar power, a worker replaced by a robot and a typist without computer skills are cases of structural unemployment. A worker laid off in a recession is cyclical unemployment, so D is the odd one out.
Q774. What has been a widely observed economic effect of the implementation of the MGNREGA scheme on the rural labor market?
Explanation
MGNREGA gave rural workers an alternative source of income and more bargaining power, which put upward pressure on agricultural wages.
Q775. The PM Rozgar Protsahan Yojana (PMRPY) was a significant scheme for incentivizing employment. During the COVID-19 pandemic recovery phase, which successor scheme was launched to boost job creation in the formal sector?
Explanation
The Atmanirbhar Bharat Rojgar Yojana (ABRY) was launched during the COVID-19 recovery phase as the successor to the PMRPY, to support job creation in the formal sector.
Q776. Which of the following statements regarding the Startup India Seed Fund Scheme (SISFS) is incorrect?
Explanation
The Startup India Seed Fund Scheme gives financial help for proof of concept and prototypes through certified incubators, and is run by DPIIT. It does not pay money directly to founders for personal living expenses, so D is incorrect.
Q777. Given below are two statements, one labeled as
Assertion (A) and the other as Reason (R):
Assertion (A): The consolidation of 29 central labour laws into Four Labour Codes promotes the "Ease of Doing Business" while protecting workers’ rights.
Reason (R): The consolidation eliminates the multiplicity of definitions, authorities, and contradictory compliances that plagued the earlier legal regime. In the context of the above statements, which one of the following is correct?
Assertion (A) and the other as Reason (R):
Assertion (A): The consolidation of 29 central labour laws into Four Labour Codes promotes the "Ease of Doing Business" while protecting workers’ rights.
Reason (R): The consolidation eliminates the multiplicity of definitions, authorities, and contradictory compliances that plagued the earlier legal regime. In the context of the above statements, which one of the following is correct?
Explanation
Merging 29 central labour laws into four Labour Codes supports ease of doing business while protecting workers, because it removes the multiple definitions, authorities and contradictory compliances of the old system. R explains A.
Q778. Consider the following statements regarding the informal sector in India:
Statement I: The Unorganised Workers’ Social Security Act provides a framework for providing welfare benefits to workers not covered by formal labor laws.
Statement II: More than 80% of India’s total workforce is currently employed in the formal, organized sector.
Which of the following is correct in respect of the above statements?
Statement I: The Unorganised Workers’ Social Security Act provides a framework for providing welfare benefits to workers not covered by formal labor laws.
Statement II: More than 80% of India’s total workforce is currently employed in the formal, organized sector.
Which of the following is correct in respect of the above statements?
Explanation
The Unorganised Workers’ Social Security Act gives a framework for welfare benefits to workers outside formal labour laws, so Statement I is correct. Over 80 per cent of India’s workforce is in the informal sector, so Statement II is incorrect.
Q779. Increased mechanization of agriculture, absence of safe transport, and deep-rooted patriarchal norms are key factors contributing to which socio-economic outcome?
Explanation
Mechanisation of agriculture, lack of safe transport and patriarchal norms are factors behind the low Female Labour Force Participation Rate in India.
Q780. The rural economy offers multiple avenues for livelihood. Which of the following is NOT primarily a measure for addressing rural unemployment and poverty?
Explanation
The NRLM, agro-based industries and allied activities like dairy and poultry address rural unemployment and poverty. Special Economic Zones for semiconductor fabrication are not a measure for it.Answer key for these questions
| Q | Correct answer |
|---|---|
| 771 | (b) SANKALP : Centrally sponsored scheme for institutional mechanisms and quality |
| 772 | (a) I and II only |
| 773 | (d) Worker laid off during a severe nationwide economic recession |
| 774 | (c) Upward pressure on agricultural wages due to workers’ enhanced bargaining power |
| 775 | (b) Atmanirbhar Bharat Rojgar Yojana (ABRY) |
| 776 | (d) Disbursing funds directly to founders for their personal living expenses |
| 777 | (a) Both A and R are true and R is the correct explanation of A. |
| 778 | (c) Statement I is correct but Statement II is incorrect. |
| 779 | (b) Low Female Labour Force Participation Rate (FLFPR) in India |
| 780 | (c) Special Economic Zones for advanced semiconductor fabrication |
Key facts from Indian Economy
- The RPSC syllabus lists economic concepts and the Indian economy as the first part of the Economy paper, followed by the economy of Rajasthan.
- Concept questions test definitions: nominal and real GDP, GNP and NDP, per capita income and the value-added method.
- Policy questions pair a tool with its effect, for example a rise in CRR reduces the lendable resources of banks.
- Scheme questions ask for the target group, ministry or year of schemes such as PMKVY, NAPS, PM SVANidhi and PM-SYM.
- Questions on Finance Commission and GST link the body to its Article, such as Article 280.
Frequently asked questions
How many RAS Prelims practice MCQs are there on Indian Economy?
This page has 848 practice MCQs on Indian Economy. Each has the correct answer, and most have an explanation.
Which chapters does the Indian economy set cover?
Ten chapters: economic growth, development and sustainable development; measurement of development (HDI); monetary and fiscal policy and the Union Budget; fiscal federalism and the Finance Commission; agricultural development; industrial growth and LPG reforms; the service sector; energy, transport and communication; skill development and employment; and social justice and empowerment.
Is the Indian economy in the RAS Prelims syllabus?
Yes. RPSC lists Economic Concepts and the Indian Economy as the first part of the Economy paper. The second part covers the economy of Rajasthan, which is on its own page.
How should I revise economy for RAS Prelims?
Learn the definitions and the cause-and-effect chains first, then the schemes with their year, ministry and target group. Attempt each chapter, read every explanation and keep a one-line note for each scheme and body.