IEcoS Indian Economics Papers 1998

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IEcoS Indian Economics 1998


  1. Attempt any two of the following in about 400 words each:

    1. Outline briefly changing features of Indian economy between 1950s and 1990s. 30

    2. Examine the efficacy of Planning as ‘instrumental interference’ and of market as ‘servomechanism’ in India's mixed economy. 30

    3. Enumerate the role of deficit financing as a mode either of productive mobilization of domestic factor endowments or of generating aggregate effective demand for domestic goods and services in Indian economic context since 1970s. 30

    4. Differentiate between revenue deficit and fiscal deficit in Central Budget from the point of view of macroeconomic balance requirements of Indian economy 30


Answer any TWO of the following in about 300 words each.

  1. What are the reasons that explain relative weakness of cooperative movement in those states where small and marginal farms are overwhelmingly abundant? 25

  2. Account for the problem of increasing unemployment and under-employment in the Indian economy. 25

  3. What are the possible consequences of East Asian crisis on India's balance of payments situation? 25

  4. What, in your perception, should be the basic considerations of Central Government's internal debt policy in India so as to minimize the future financial obligation? 25


Answer any TWO of the following in about 600 words each.

  1. ‘Indian experience of economic development has witnessed both inward-looking as well as outwardlooking strategies of industrial development. But neither could lead to pervasive kind of technological diffusion and innovation.’ Critically examine the statements. 45

  2. Is planning in India an essay in failure? Justify your answer in terms of factual analysis. 45

  3. How would you explain the paradox that since 1951 − 52 the rate of gross domestic household saving in Indian economy has gone up nearly three-fold by 1996 − 97, but the real rates of investment in public and private sectors combined, during the same period, declined in the aggregate? 45

  4. Do you think that decrease in the marginal rates of taxation in the sphere of direct taxes on the upper level of corporate of individual income has led to greater collection of revenue of the Central

Government? Answer with reference to a comparative study before and, after the decrease in marginal rates of direct taxation. 45

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