Section - A

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

Marks: 5 × 6 = 30

(a) Name all the systemic changes that are required to enable public sector enterprises function commercial enterprises.

(Comment for solution.)

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(b) Explain 'carrying capacity' in the context of renewable resources.

(Comment for solution.)

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(c) Why, in the presence of recycling capability, are metallic non-renewable resources eventually exhaustible?

(Comment for solution.)

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(d) What is price discrimination and how is it used to increase a monopoly's profit?

(Comment for solution.)

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(e) What are the components of revenue receipt in the budget of State Government in India?

(Comment for solution.)

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(f) What is carbon tax? Is it right time to introduce carbon tax in India? Substantiate.

(Comment for solution.)

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Section - B

Answer any SIX questions out of the following NINE in about 200 words each:

Marks: 15 × 6 = 90

2. What is 'balanced budget multiplier'? Is its value always equal to unity? Discuss.

(Comment for solution.)

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3. What is sustainable national income? What modifications are required in the conventional national accounting system to arrive at an environmentally adjusted national income?

(Comment for solution.)

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4. How can optimum level of pollution be achieved through the use of pollution vouchers?

(Comment for solution.)

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5. Differentiate between 'revenue deficit' and 'fiscal deficit'. What are the successes and failures of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003?

(Comment for solution.)

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6. "Both the market structure and innovative activities are endogenous." Discuss this using the Neo-Schumpeterian framework.

(Comment for solution.)

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7. What is decentralized planning? Whay is the district plan not integral to the planning process despite its constitutional mandate?

(Comment for solution.)

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8. What is contestable market? What are its determinants? What are the operational setbacks of the market?

(Comment for solution.)

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9. What is market concentration? How can it be measured using Dispersion Index?

(Comment for solution.)

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10. What are the rationales and objectives of economic planning in a developing country?

(Comment for solution.)

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Section - C

Answer any FOUR questions out of the following SIX in about 300 words each:

Marks: 20 × 4 = 80

11. "The expansionary impact of fiscal policy is offset by the rise in the value of the currency." Examine this statement in the context of an emerging economy.

(Comment for solution.)

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12. What are the approaches to regulate environment? Evaluate these approaches in terms of their cost and efficiency.

(Comment for solution.)

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13. In the theories of firm, the 'behavioural' theory postulates the 'satisficing' behaviour as opposed to the 'maximizing' principle. Elucidate.

(Comment for solution.)

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14. Differentiate between the Goods and Services Tax (GST) and Value Added Tax (VAT) in terms of their operations in Indian Federation.

(Comment for solution.)

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15. Can disinvestment of public sector enterprises and the notion of 'Welfare State' go together? Critically examine.

(Comment for solution.)

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16. "Sustainable development is a distant dream." Examine this statement in view of international conventions.

(Comment for solution.)

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