Section - A

1. Answer all of the following parts in about 100 words each:

Marks: 5 × 6 = 30

(a) What is public investment? What are the criteria for making decisions regarding public investment?

(Comment for solution.)

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(b) Describe the main features of "Goods and Services Tax".

(Comment for solution.)

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(c) Distinguish between 'planning from above' and 'planning from below'.

(Comment for solution.)

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(d) Is Indian planning employment oriented? Explain.

(Comment for solution.)

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(e) Distingush between private and social discount rates, highlighting the relevance of the latter in environmental economics.

(Comment for solution.)

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(f) What are option value and bequest value in environmental valuation?

(Comment for solution.)

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Section - B

Answer any six out of the following seven questions in about 200 words each:

Marks: 15 × 6 = 90

2. Explain the importance of Publc Debt in the process of economic growth. What are the issues in the debt management in India?

(Comment for solution.)

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3. Assess the relative importance of indirect tax to direct tax. What are the implications of indirect taxes for income inequalities in India?

(Comment for solution.)

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4. What is 'uncertainty, irreversibility and uniqueness' in the context of environmental economics and how do they influence environmental policies of the governments?

(Comment for solution.)

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5. What is Environmental Kuznets Curve? Discuss its relevance for India's environment.

(Comment for solution.)

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6. What is Kinky Demand Curve oligopoly? How will you relate this with the phenomena of price rigidity and inflation?

(Comment for solution.)

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7. What is Economic Planning? Distinguish between 'indicatve planning' and 'planning by direction'. Which of these two is followed in India and why?

(Comment for solution.)

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8. Define the concept of price discrimination under monopoly and discuss teh price determination of a discriminating monopolist.

(Comment for solution.)

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Section - C

Answer any four out of the following six in about 300 words each:

Marks: 20 × 4 = 80

9. Discuss the problems of Centre-State financial relations in India. How has India been approaching the solutions to these problems?

(Comment for solution.)

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10. Distinguish between the 'stated preference method' and 'revealed preference method' of environmental valuation. Discuss any one of the two methods with an example from India.

(Comment for solution.)

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11. How far have the recent tax reforms been effective in India? What further reforms would you suggest for making the Indian tax system efficient and dynamic?

(Comment for solution.)

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12. What are the environmental implications of economic growth? Do you think that instead of a trade-off between economic growth and environment there can be a win-win situation also? Explain.

(Comment for solution.)

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13. Explain the 'start-up-India' programme. Is it consistent with the view that innovations and market structure are intertwined? Illustrate with suitable examples.

(Comment for solution.)

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14. Explain the role and responsibilities of the Panchayati Raj Institutions (PRIS) in India. Make an appraisal in the context of the recent developments in India.

(Comment for solution.)

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