Q&As- An Overview of Indian Economy – Short Questions and Answers

An Overview of Indian Economy – Short Questions and Answers

1. What is meant by the Indian economy?
   The Indian economy refers to the economic activities, production, distribution, and consumption of goods and services in India.
2. What are the phases of the evolution of the Indian economy?
   The Indian economy has evolved through the pre-British period, colonial period, post-independence planning era, liberalization (1991), and post-2008 globalization.
3. What were the characteristics of the Indian economy in the pre-British period?
   It was primarily agrarian, with flourishing trade and handicrafts, and self-sufficient rural economies.
4. How did British rule affect the Indian economy?
   It led to deindustrialization, drain of wealth, and the transformation of India into a supplier of raw materials.
5. What are the basic characteristics of the Indian economy today?
   Mixed economy, dominance of agriculture, large population, low per capita income, and unemployment.
6. What major change happened in the Indian economy in 1991?
   India adopted economic liberalization, reducing government control and encouraging private sector and foreign investment.
7. How was the Indian economy affected by the global financial crisis of 2008?
   Growth slowed down temporarily, but India was relatively resilient due to domestic demand and strong banking regulations.
8. What changes occurred in the Indian economy after 2008?
   Increased digitalization, rise in services sector, economic reforms like GST and demonetization, and focus on infrastructure.
9. What are structural changes in the Indian economy?
   Shifts in contribution of sectors—agriculture to industry and services—and rise of urbanization and technology-based economy.
10. Which sector currently dominates the Indian economy?
    The services sector, contributing the highest to GDP.

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Chapter Number	PAPER I – INDIAN ECONOMY & INDIAN FINANCIAL SYSTEM MODULE A: INDIAN ECONOMIC ARCHITECTURE
1.	An Overview of the Indian Economy: Evolution, Structure & Key Milestones
2.	Economic Planning in India: A Complete Overview,Sectors of the Indian Economy
3.	Role of Priority Sector and MSME in the Indian Economy
4.	Infrastructure including Social Infrastructure
5.	Globalisation – Impact on India
6.	Economic Reforms
7.	Foreign Trade Policy, Foreign Investments and Economic Development
QandAs/MCQs 1	Q and A - An Overview of the Indian Economy: Evolution, Structure and Key Milestones
QandAs/MCQs 2	Q&As- Economic Planning in India – Short Questions and Answers
QandAs/MCQs 3	MCQs- Sectors of the Indian Economy – Important Questions
QandAs/MCQs 4	MCQs- Role of Priority Sector and MSME in the Indian Economy
QandAs/MCQs 5	MCQs – Infrastructure, Globalisation, and Economic Reforms
QandAs/MCQs 6	MCQs – Foreign Trade, Investments & International Economic Organizations
QandAs/MCQs 7	MCQs – Climate Change, SDGs, and Indian Economic Issues
MODULE B: ECONOMIC CONCEPTS RELATED TO BANKING
MODULE C: INDIAN FINANCIAL ARCHITECTURE
MODULE D: FINANCIAL PRODUCTS AND SERVICES