Pedology is the scientific discipline dedicated to the study of soils in their natural environment, focusing heavily on soil formation (pedogenesis), morphology, and classification.
57. Fiscal deficit implies:
(A) total expenditure – (revenue receipt + recovery of loan + receipts from disinvestment)
(B) total expenditure – total receipts from taxes
(C) total expenditure – (revenue receipt + receipt from disinvestment)
(D) total expenditure – disinvestment receipt
Answer:
(A) total expenditure – (revenue receipt + recovery of loan + receipts from disinvestment)
Explanation:
A fiscal deficit is the difference between the government’s total expenditure and its total non-debt creating receipts (which safely includes revenue receipts, recovery of loans, and capital receipts like disinvestment).
58. Which one of the following Industrial Policies has abolished (with a few exceptions) the Industrial Licensing ?
(A) Industrial Policy, 1970
(B) Industrial Policy, 1980
(C) Industrial Policy, 1991
(D) Industrial Policy, 1985
Answer:
(C) Industrial Policy, 1991
Explanation:
The landmark New Industrial Policy of 1991 broadly abolished the infamous “License Raj,” dismantling the restrictive industrial licensing system for all but a few specific industries related to security and strategic concerns.
59. Economic Growth in country X will necessarily have to occur if
(A) there is technical progress in the world economy
(B) there is population growth in X
(C) there is capital formation in X
(D) the volume of trade grows in the world economy
Answer:
(C) there is capital formation in X
Explanation:
Capital formation (investment in physical or human capital) directly expands the productive capacity of a specific economy. Increased productivity fundamentally guarantees necessary, long-term economic growth within that specific country.
60. ‘Green Accounting’ means measuring the National Income of the country taking into account estimation of
(A) the total forest area of the country
(B) the destruction of forest covers of the country
(C) pollution and environment damage
(D) area of reclaimed fallow land
Answer:
(C) pollution and environment damage
Explanation:
Green Accounting is an economic practice that factors environmental costs—such as the depletion of natural resources, pollution, and general environmental damage—directly into the traditional calculations of a country’s national income.
