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C) Environment and human rights

C) U. S. S. R

Globalization: Different economies around the world are becoming connected.

Anti – arrack: The movement led by women belonged to the poorest Movement, a section of society in Andhra Pradesh to ban toddy and arrack and later complete prohibition.

In the beginning, people were awestruck by the dams, the huge amounts of water it could store, the vast tracts it could irrigate, the amount of electricity it could generate, the floods and droughts it could prevent.

Correct option is C) 1971

B) climate change

Democratic: Controlled by representatives who are elected by the people of the country.

Liberalism: PolitIcal views favoring progress, reform, and Individual freedom.

Multipurpose dams: The river valley projects which serve the main functions like the supply of Irrigation water, generation of power, control of floods, development navigation, and fishery are generally described as multipurpose dams.

SSP: Sardar Sarovar Project.

Green peace: Movement to ensure the ability of the earth to nurture life In movement all Its diversity.

The pyramid of Giza is the tomb of King Khufu.

Fascism: The Ideology of Benito Mussolini, which encouraged militarism and extreme nationalism and opposed democracy and liberalism in Italy.

Correct option is  (b) (A) is FALSE but (R) is TRUE

Correct option is (c) (A) and (R) both are TRUE and (R) is the correct explanation of (A)

1. (ii) b, c, d, a

2. (iii) c, a, b, d

3. (i) b, d, a, c

Wrong Pair: 

FDI – Promote imports

1. arena of globalisation

2. MRTP Act

3. railways and atomic energy

4. compensation to retrenched workers

5. Miniratnas and Maharatnas.

1. RBI

2. private sector

3. electricity generation projects

4. globalization

5. indebtedness and poverty of poor farmer

Securities and Exchange Board of India (SEBI). SEBI was established on 12th April 1992. SEBI has the power to approve bye-laws of Securities Exchanges, inspect the books of account of financial intermediaries, registration of brokers and sub-brokers.

Correct option is (c) Mixed economy

Globalization means the interaction of the domestic economy with the rest of the world with regard to foreign investment, trade, production, and financial matters.

Measures were taken for Globalisation:

• Removal of quantitative restrictions: To make the Indian economy attractive to foreign investors, the government has reduced custom duties and tariffs imposed on imports and exports. 
• Encouragement to foreign capital: To India, foreign investment has wider scope since 1991. Foreign capital is allowed in India without any restrictions.
• Convertibility of Rupee: It means Indian currency can be converted into the currency of other countries. 
• Foreign collaboration: To take the benefit of advanced technology, Indian companies are allowed to enter into foreign collaboration e.g. MarutiSuzuki, Hero-Honda, etc. 
• Long-term trade policy: The trade policy was introduced for a longer duration to promote foreign trade. 
• Encouragement to export: Many incentives have been given to industries through EXIM policy. SEZ and AEZ are created to encourage export.

1. In India, traditional sweets are available, which are having more than 100 varieties.

2 .Due to globalisation, multinational companies have set up a number of ice-cream parlours with a lot of varieties and flavours. It helps to attract the younger generation of today.

3. In India Ice-cream industry has wider scope because there is an improvement in cold chain infrastructure, increase in disposable income, and changing lifestyle of the people.

4. The ice-cream sector is indirectly dependent on the primary sector. If the demand for ice cream increased then the income of cattle owners will grow. 18% GST on ice cream is high because ice cream is made from milk which is good for health as compared to tobacco, pan masala. Same GST (18%) is imposed on tobacco and pan masala but it is injurious to health and finally, the burden of GST will transfer to customers.

The process of the new economic policy started in 1985 and got momentum in 1991.

Features of Economic Policy, 1991:

• Delicensing: The new industrial policy abolished all industrial licensing, except 18 specified industries related to security and strategic concerns and social reasons. 
• Abolition of MRTP Act: No prior approval of the MRTP commission is now required for setting up industrial units by the large business houses.
• Encouragement to Small Scale Industries (SSI): The investment limit of the SSI has been increased up to 5 crores which will help to upgrade their machinery.
• Encouraging Foreign Investment: Many industrial units were open to foreign investment under the 1991 policy. The limit was raised to 51% and 100% in some industries and 100% in mining, pollution control equipment, electricity generation projects, ports, etc. 
• Reducing the role of the Public Sector: The number of industries reserved for the public sector was reduced from 17 to 2, it includes railways and atomic energy.
• Trade Liberalisation: Relaxation is given to importers by abolishing import licensing controls. The permission for external credit and set up of Special Economic Zones (SEZ) to promote export. To promote agricultural export Agro Export Zones (AEZ) were introduced. 
• Reforms in Insurance Sectors: The Insurance Regulatory and Development Authority Act (IRDA) has given licenses to many private companies to start insurance businesses which ended the monopoly of government e.g. Max Life, Bajaj, Allianz, Aegon, etc. 
• Reforms in Financial Sector: The NEP has allowed private banks and foreign banks to do hanking business in the financial sector.

Correct option is (d) 2

Correct option is (d) High priority industries

Correct option is SPCL

No, I do not agree with the statement. 

• The insurance sector was a monopoly of the Government till 1991.
• In 1991IRDA (Insurance Regulatory and Development Authority Act) was introduced. 
• The IRDA has given licenses to many private companies to start insurance businesses in India. 
• Due to the entry of private companies, the monopoly of government has come to an end.

• Yes, I do agree with the statement.
• Liberalization has encouraged foreign technology. 
• Foreign technology is allowed in highpriority industries.
• Foreign technology helps to reduce the cost and make the industries competitive.

Yes, I do agree with the statement. 

• Navratnas are the Public Sector Units (PSUs). 
• In 1997-98, Nine PSUs were selected for Navratna status.
• These PSUs were selected on the basis of their performance.
• These Navratnas were given full financial and managerial autonomy.

agro-based industries

Correct Answer is NTPC

Globalization. 

Globalization means the interaction of the domestic economy with the rest of the world with regard to foreign investment, trade, production, and financial matters.

Foreign Direct Investment (FDI).

 FDI was approved under the Industrial Policy of 1991, to encourage investment in highpriority industries which require high investment and technology.

Correct Pairs: 

(1) – (c), 

(2) – (a), 

(3) – (e), 

(4) – (b), 

(5) – (d).

Demonetization

Yes, I do agree with the statement.

• Under the public sector, some units were closed due to loss. 
• The workers of these units had to face the problem of unemployment and poverty. 
• To solve this problem, the government has been formed. National Renewal Board (NRB). 
• NRB provides compensation to retrenched workers which help to reduce poverty in the country.

Delicensing. 

Except for 18 specified industries of strategic importance, all industries required a license. Later on, only 4 industries required compulsory licensing. They are – Electronic Aerospace and defense equipment, Industrial Explosives, Hazardous chemicals, Drugs and Pharmaceuticals, and Cigarettes.

Correct Pairs: 

(1) – (c), 

(2) – (e), 

(3) – (a), 

(4) – (b), 

(5) – (d).

Disinvestment.

 A disinvestment is an act of selling shares of sick public sector units to the private sector. Eg. Disinvestment of Maruti, ITDC hotels, VSNL, etc.

Yes, I do agree with the statement. 

• 17 industries were reserved for the public sector under the Industrial Policy of 1956. 
• But in NEP – 1991, the number of public sector industries reduced from 17 to 2. 
• Railway transport and atomic energy are reserved for the public sector. 
• The involvement of the private sector in economic activities has increased after NEP.

1. Navratnas

2. Agro Export Zones

3. MRTP Act

4. Board of Industrial and Financial Reconstruction (BIFR)

5. Cigarettes

(c) (A) and (R) both are TRUE and (R) is the correct explanation of (A)

(c) (A) and (R) both are TRUE and (R) is the correct explanation of (A)

Wrong Pair: 

FEMA – Fund Exchange Management Act.

• Improvement in educational standards: Standards of educational institutions are improving. Our students are getting opportunities to study abroad. 
• Diversification of cropping: Due to globalization, the farmers have shifted from practicing traditional cropping to non-traditional cropping patterns.

No, I do not agree with the statement. 

• NEP brought a revolution in the IT sector which helps to earn foreign exchange. 
• It strengthened the financial sector by raising the competition among the banks. 
• The standard of educational institutions is improving. 
• It helps to improve the conditions of the BOP. 
• It helped to increase the exports of our country. 
• It also helped farmers by diversifying their cropping pattern i.e. from traditional products to non-traditional products.

1. Privatisation

2. Delicensing

3. Disinvestment

4. Globalisation

5. Foreign Collaboration

6. EXIM Policy