Tag: economics of development and planning

Apprentice Protsahan Yojana was introduced for apprentice.Under the Apprentice Protsahan Yojana, 50% of the stipend payable to the apprentice would be reimbursed by the Government for the first 2 years which is an incentive for the MSME Units to take in more apprentices. 

To ease the credit availability requirements of start-ups the government and announced the MUDRA Scheme. MUDRA Scheme helps to finance micro business enterprises of India. This scheme is known as Pradha Mantri Mudra Yojana.

Atal Innovation Mission (AIM) programme operated from NITI Aayog. This mission helps to promote culture of innovation and entrepreneurship in India. It includes self employment and talent utilization.

The concept of five year plans was introduced in the year 1951 by Indian government to improve standards of living of people who were deprived for centuries. But in present days this contribution of government to the plans is becoming lesser day by day because the expenditure is increasing. 

The Union Budget is drafted under the Ministry of finance. The administrative staff of the Lok Sabha is the organisation or agency which is actively involved in drafting the Union Budget of India.

Thus, the correct answer is C.

Economic activities are related to manufacturing, distribution, exchange and consumption of goods and services. The most important aim of economic activity is the production of goods and services with a view to make them available to the consumer. 

Non-economic activity is an action perform willingly, with the aim of providing services to others lacking any regard as to monetary gain. Individuals human activities which are assumed for individual satisfaction or to satisfy human sentiment are non-economic activities.

The correct option is A.

Intergenerational equity is a concept that says that humans 'hold the natural and cultural environment of the Earth in common both with other members of the present generation and with other generations, past, and future'.

There are five interrelated elements of inclusive growth. They are mentioned as below:

1. Poverty Reduction and increase in quantity and quality of employment
2. Agricultural Development
3. Social Sector Development
4. Reduction in regional disparities
5. Protecting the environment

An underdeveloped economy is characterised by state of deprivation of large proportion of population. Apart from that, other characteristics of an underdeveloped economy are low per capita income, a higher proportion of labour force involved in primary sector activities.