Indian Economy Textbook Questions – Structure of the Economy · Unemployment · Labour Force Surveys · Employment Generation Schemes · MGNREGA to VB-G RAM G (Part 2)

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Indian Economy Textbook Questions – Structure of the Economy · Unemployment · Labour Force Surveys · Employment Generation Schemes · MGNREGA to VB-G RAM G (Part 2) – 20 questions, subject: Economy. Every question has the correct answer with a one-line explanation; tap "Show Answer". Free practice for TNPSC, UPSC, SSC, Bank and RRB exams – Shanmugam IAS Academy, Coimbatore.

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1.  
Match the wage-employment programme with its year:
a. CSRE1. 1993
b. RLEGP2. 1983
c. EAS3. 2004
d. NFFWP4. 1971

Correct Answer: C [4 2 1 3]

Explanation:

CSRE 1971; RLEGP 1983; EAS 1993; NFFWP 2004.

2.  
Match the MUDRA category with its loan range:
a. Shishu1. ₹50,000–₹5 lakh
b. Kishore2. ₹10–20 lakh
c. Tarun3. Up to ₹50,000
d. Tarun Plus4. ₹5–10 lakh

Correct Answer: D [3 1 4 2]

Explanation:

Shishu up to ₹50,000; Kishore ₹50,000–₹5 lakh; Tarun ₹5–10 lakh; Tarun Plus ₹10–20 lakh.

3.  
What daily wage was notified for Tamil Nadu under the VB-G RAM G Act from 1.7.2026?

Correct Answer: B [₹345]

Explanation:

S.O. 3518(E), 30.6.2026; ₹319 = MGNREGA 2024-25; ₹300 = interim base wage; ₹409 = Haryana.

4.  
Which statements on the VB-G RAM G Act are correct?
  1. Works pause for an aggregate of 60 days in sowing and harvest seasons, notified by the State.
  2. The administrative expenditure limit rose from 6% to 9%.
  3. For general States the Union : State share is 90 : 10.

Correct Answer: A [1, 2 only]

Explanation:

General States share 60 : 40; 90 : 10 applies only to North-Eastern and Himalayan States.

5.  
What is the Government of India’s share in the National Skill Development Corporation?

Correct Answer: D [49%]

Explanation:

Government 49%, private sector 51%: a not-for-profit public–private partnership.

6.  
Match the scheme with its launch date:
a. NRLM1. 15.7.2015
b. DDU-GKY2. 3.6.2011
c. Skill India3. 17.9.2023
d. PM Vishwakarma4. 25.9.2014

Correct Answer: C [2 4 1 3]

Explanation:

NRLM 3.6.2011; DDU-GKY 25.9.2014; Skill India 15.7.2015; PM Vishwakarma 17.9.2023.

7.  
What is the minimum educational qualification for NEEDS?

Correct Answer: B [Higher Secondary (+2) pass]

Explanation:

Class 8 is for UYEGP. NEEDS: age 21–45, first-generation entrepreneurs, manufacturing / service.

8.  
Match the Tamil Nadu scheme with its maximum subsidy:
a. UYEGP1. ₹1.5 crore
b. NEEDS2. ₹50,000
c. Annal Ambedkar scheme3. ₹75 lakh
d. Kalaignar Kaivinai Thittam4. ₹3.75 lakh

Correct Answer: D [4 3 1 2]

Explanation:

UYEGP ₹3.75 lakh; NEEDS ₹75 lakh; AABCS ₹1.5 crore; Kalaignar Craftsmen scheme ₹50,000.

9.  
Which statements on the 2001 and 2011 Censuses are correct?
  1. The number of cultivators fell between 2001 and 2011.
  2. The number of agricultural labourers fell between 2001 and 2011.
  3. A person who worked less than 6 months in the year is a marginal worker.

Correct Answer: A [1, 3 only]

Explanation:

Cultivators 12.73 to 11.88 crore (fall); agricultural labourers 10.68 to 14.43 crore (rise); marginal workers = under 6 months.

10.  
Which statements on employment status in PLFS 2025 are correct?
  1. More than half of workers are self-employed.
  2. Regular wage/salaried work exceeds casual labour.
  3. Casual labourers form the largest group.

Correct Answer: C [1, 2 only]

Explanation:

Self-employed 56.2%, regular wage 23.6%, casual labour 20.2%.

11.  
Assertion (A): The right to work (Article 41) cannot be enforced directly in a court.
Reason (R): Article 41 is a Directive Principle of State Policy (Part IV).
கூற்று–காரண வினாக்களுக்கான தேர்வுகள்
(A) கூற்றும் காரணமும் சரி; காரணம் கூற்றுக்குச் சரியான விளக்கம்
(B) கூற்றும் காரணமும் சரி; ஆனால் காரணம் சரியான விளக்கம் அல்ல
(C) கூற்று சரி; காரணம் தவறு
(D) கூற்று தவறு; காரணம் சரி
Options for Assertion–Reason questions
(A) Both A and R are true; R is the correct explanation of A
(B) Both A and R are true; R is not the correct explanation of A
(C) A is true; R is false
(D) A is false; R is true

Correct Answer: A []

Explanation:

Directive Principles are not enforceable in court (Article 37); that is why Article 41 is not a direct right.

12.  
Assertion (A): Some unemployment exists even at full employment.
Reason (R): People changing jobs are without work in the interval.

Correct Answer: A []

Explanation:

Frictional unemployment is the reason; Beveridge put it at about 3%.

13.  
Which statements on employment measurement are correct?
  1. PLFS was launched in 2011.
  2. NSSO and CSO were merged in 2019 to form the National Statistical Office.
  3. Since 2025 PLFS also gives monthly estimates.

Correct Answer: B [2, 3 only]

Explanation:

NSO = merger of NSSO and CSO (2019); PLFS began in 2017; monthly and quarterly estimates from 2025.

14.  
Assertion (A): Classical economists held that involuntary unemployment cannot persist because supply creates its own demand.
Reason (R): According to Keynes, effective demand determines the level of employment.

Correct Answer: B []

Explanation:

Both statements are true, but R is Keynes's rebuttal, not an explanation of A.

15.  
Which statements on SGRY are correct?
  1. It was formed by merging EAS and JGSY.
  2. Part of the wage was paid in foodgrains.
  3. Union : State funding was 75 : 25.

Correct Answer: C [1, 2, 3]

Explanation:

Part of the wage in foodgrains (at least 5 kg a day), at least 25% in cash; Union : State 75 : 25.

16.  
Which statements on IRDP are correct?
  1. It covered all blocks of the country from 2.10.1980.
  2. It was merged into NRLM on 1.4.1999.
  3. It provided an income-generating asset through subsidy plus bank credit.

Correct Answer: A [1, 3 only]

Explanation:

IRDP was merged into SGSY on 1.4.1999, not into NRLM.

17.  
Assertion (A): Under VB-G RAM G, the State must bear expenditure above the normative allocation.
Reason (R): MGNREGA was a demand-driven law.

Correct Answer: B []

Explanation:

Both true; A follows from Section 4(5). R describes the old Act and does not explain A.

18.  
Which statements on PM Vishwakarma are correct?
  1. It covers 18 traditional trades.
  2. The minimum age is 35.
  3. Collateral-free loans carry 5% interest.

Correct Answer: C [1, 3 only]

Explanation:

18 traditional trades, age 18; loans ₹1 lakh + ₹2 lakh at 5% interest. 25 trades and age 35 = Kalaignar Craftsmen scheme.

19.  
Which statements on the PM Viksit Bharat Rozgar Yojana are correct?
  1. It is the renamed Production Linked Incentive (PLI) scheme.
  2. First-time EPFO-registered employees get up to ₹15,000.
  3. It applies to jobs created from 1.8.2025 to 31.7.2027.

Correct Answer: A [2, 3 only]

Explanation:

It is an employment-linked incentive (through EPFO); PLI is the Production Linked Incentive.

20.  
Assertion (A): The Tamil Nadu Urban Employment Scheme is funded jointly by the Union and the State.
Reason (R): The scheme gives the urban poor wage work creating public assets.

Correct Answer: D []

Explanation:

It is fully State-funded (₹75 crore in 2021-22, ₹25 crore in 2022-23); the reason is true.

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