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Question : Comprehension:
Read the passage carefully and answer the questions that follow.
India's favourable demographic trends, which have increased the workforce's percentage of the overall population, have paved the way for a significant middle-class expansion. A big population bulge emerging from absolute poverty and set to reach the middle class would generate new dynamics. In India, over 55 percent of the population is predicted to reach the middle class. In reality, because India's demographics are significantly younger than China and the United States, the country's middle class might be the world's largest (in terms of population) by 2025.
It is no exaggeration to argue that future growth will be reliant on the increasing middle class and that the middle class's development will be reliant on growth. Growth has been fuelled by both private consumption and saving, both of which are fuelled by the middle class. India's private consumption accounts for over 60% of the country's GDP, while private consumption growth has contributed to 70% of the country's growth since 2000.
Even though China's middle class is now greater than India's, private spending in the former accounts for a lesser share of growth. In contrast to the United States, where domestic savings are dropping and the country borrows excess funds from outside to invest and expand, India's domestic savings and investments are increasing and funding investments. The emergence of the middle class is anticipated to coincide with a transition away from large-scale informality, which now characterises much of the services and industrial sectors, and toward more formal, wage-earning, and medium-scale firms. Technological advancements will spread at a faster rate. Cities will expand as job possibilities concentrate on them. If there is enough movement across states and from rural to urban regions, the population increase will be more evenly distributed.

Question:
Select the most suitable title for the given passage.

Option 1: Middle Class and Economic Growth

Option 2: Dropping Domestic Savings in the USA

Option 3: Favourable Demographic Trends in India

Option 4: Rise of the Middle Class in India

Team Careers360 24th Jan, 2024

Correct Answer: Rise of the Middle Class in India


Solution : The correct choice will be the fourth option.

The most suitable title for the given passage is: Rise of the Middle Class in India.

The passage primarily discusses India's demographic trends leading to a significant expansion of the middle

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Question : Which of the following is not an example of a minor industrial region of India?

Option 1: Durg-Raipur region

Option 2: Ambala-Amritsar region

Option 3: Northern Malabar region

Option 4: Hugli region

Team Careers360 19th Jan, 2024

Correct Answer: Hugli region


Solution : The correct answer is the Hugli region.

India features several major industrial regions that contribute significantly to the country's economic development:

  1. Mumbai-Pune Industrial Region
  2. Hugli Industrial Region
  3. Bangalore-Tamil Nadu Industrial Region
  4. Gujarat Industrial Region
  5. Chotanagpur Industrial Region
  6. Visakhapatnam-Guntur Industrial Region
  7. Gurgaon-Delhi-Meerut Industrial Region
  8.  Kollam-Thiruvananthapuram
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Question : Which of the following brings out the 'consumer price index number' for industrial workers?

Option 1: RBI

Option 2: The Labour Bureau

Option 3: Commerce Department

Option 4: NITI Aayog

Team Careers360 25th Jan, 2024

Correct Answer: The Labour Bureau


Solution : The correct option is The Labour Bureau.

The Labour Bureau, under the Ministry of Labour and Employment, is responsible for compiling and releasing the Consumer Price Index Number for Industrial Workers (CPI-IW) every month. This index is derived from the fluctuations in prices

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Question : Statement 1: Disguised unemployment is more prevalent in the agricultural sector compared to the industrial sector.

Statement 2: Seasonal unemployment is a significant issue in rural areas of India.

Option 1: Both statements are true.

Option 2: Both statements are false.

Option 3: Statement 1 is true, statement 2 is false.

Option 4: Statement 1 is false, statement 2 is true.

Team Careers360 16th Jan, 2024

Correct Answer: Both statements are true.


Solution : The correct answer is (a) Both statements are true.

Statement 1 is true. Disguised unemployment refers to a situation where there are more workers engaged in a task or occupation than necessary. In the agricultural sector, it is often observed that a

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Question : Statement 1: The Industrial Policy Resolution of 1956 emphasized the development of small-scale industries in India.

Statement 2: The Industrial Policy Resolution aimed to promote state control over key industries.

Option 1: Both statements are true.
 

Option 2: Both statements are false.
 

Option 3: Statement 1 is true, and statement 2 is false.

 

Option 4: Statement 1 is false, and statement 2 is true.

Team Careers360 24th Jan, 2024

Correct Answer: Statement 1 is false, and statement 2 is true.


Solution : The correct answer is (d) Statement 1 is false, and statement 2 is true.

Statement 1 is false. The Industrial Policy Resolution of 1956 did not specifically emphasize the development of small-scale industries. It focused more on

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Question : Which among the following banks launched the "Gram Seva Program" across six states in India in October 2022?

Option 1: Industrial Credit and Investment Corporation of India

Option 2: Reserve Bank of India

Option 3: State Bank of India

Option 4: Housing Development Finance Corporation

Team Careers360 24th Jan, 2024

Correct Answer: State Bank of India


Solution : The correct option is the State Bank of India.

The State Bank of India (SBI) launched the "Gram Seva Program" on Gandhi Jayanti 2022, targeting comprehensive village development in education, healthcare, livelihoods, and infrastructure.

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Question : What was the main aim of the First Five Year Plan?

Option 1: Self-dependent

Option 2: Industrial growth

Option 3: Economic growth

Option 4: Agricultural growth

Team Careers360 24th Jan, 2024

Correct Answer: Agricultural growth


Solution : The correct answer is Agricultural growth.

An advanced and strategic first five-year plan was formulated to improve India’s economy after its independence in 1951. The plan aimed to bring changes, and make India self-sufficient, and economically powerful. The major focus behind the first Five-year

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