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Interview Questions on Indian Economic Scenario

  1. What type of changes you have observed in our economy?
    Ans: 1. Our economy has been opened-up for others.
    2. Foreign Direct Investment (FDI) has been permitted.
    3. Disinvestment in some public sector undertakings (PSUs) are a few.

  2. What do you understand by disinvestment?
    Ans: Disposing certain/predetermined number of shares to public/private parties and there by reducing its share in the undertakings. This is part of privatisation policy is called disinvestment.

  3. Why at all Government should interfere in economy?
    Ans: It is not interference, it is intervention, which is required.

  4. Why it is required?
    Ans: All developing countries, in particular, do intervene in the economy. Higher economic growth rate, poverty reduction etc., are main objectives of their interventions.

  5. What is National Income?
    Ans: It is an estimate, which measures the volume of commodities and services produced in a given period less Depreciation.

  6. What do you mean by depreciation?
    Ans: In general terms it is wear and tear; it is also known as "User Cost", or charges for repairs and replacements/renewals.

  7. Then what is Gross National Product?
    Ans: Value pf all services and goods are computed at market prices. It also includes the following ; (i) Investments (ii) Govt. expenditure on utility services (iii) Income through international trade and (iv) Net incomes from abroad.

  8. What is Gross Domestic Product?
    Ans: G.D.P. is goods and services produced in a country over a given period.

  9. Then what is the difference between GNP and GDP?
    Ans: Conceptually goods and services produced within the country only count for GDP.

  10. What is Percapita Income?
    Ans: It is the average income of citizen of a country. It is derived by dividing National Income with population of a country.

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