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Answer Writing Practice Questions | Economics and Social Issue | RBI Grade B

Economics and Social Issue Descriptive Answer Writing Practice Questions for RBI Grade B Phase II 2022. This Article contains List of Important Economics and Social Issue Descriptive Questions for RBI Grade B. These Descriptive Questions are based on Current Affairs, Static Economics and Programs and Polices of Government of India. Practice Writing on these Questions in a time bound Manner to score good marks in RBI Grade Phase II Economics and Social Issue Section.

Economics and Social Issue Descriptive Answer Writing Practice Questions

Descriptive Questions Asked - RBI Grade B 2021 (1st April'21)

Word Limit - 400 (10 Marks Questions), 600 (15 Marks Questions)

Time - 90 Minutes

Descriptive Questions - Economics and Social Issue

15 Marker Questions:

1. What is meant by the vertical & horizontal allocation of resources to states as per the 15th Finance Commission? How can this objective be achieved?

2. Global financial crisis 2008 and its after-effects on different aspects of globalization.

3. Describe the various Poverty Estimation Method in relation to the following?

I. Per Capita

II. Inflation & Consumption

III. Safety Net Program

10 Marker Questions:

1. Discuss 3 measures related to disinvestment of Strategic Sectors and Non-Strategic Sectors in Union Budget 2021-22.

2. Discuss India’s commitment to climate change in light of its socio-economic, health & developmental projects.

3. What is the influence of Demographic Transition on India’s economic growth?

Economics and Social Issue Descriptive Answer Writing Practice Questions

#2. You need to Write on 15th Finance Commission, mistakenly it was 14th written over there and similar question was asked in RBI Grade B 2021 Paper.

Descriptive Practice Questions for Economics and Social Issue

1. Discuss the meaning and uses of GDP, GNP, NNP, Personal Income and Disposable Income.


2. What do you mean by selective credit control? How do they supplement and support the traditional monetary policy in present context?


3. Discuss the composition and direction of foreign trade of India. Describe the India's Balance of Payment since 1991.


4. Is the PPP model an important tool for investment in India's basic structure? Discuss the role and importance of PPP model in the development of basic structures of economy by supporting example.


5. Describe MSME sectors and highlight its Importance and Characteristics in the development Of Economy.


6. Examine the causes and consequences of growing unemployment in India. Critically discuss the measure to overcome the problem of unemployment. Give suggestions to improve it.


7. Define poverty, its type and causes in India. Discuss various methods of calculating poverty. Examine one important antipoverty programme in India in detail.


8. What is NARCL? Describe the benefits of setting up Bad Bank by Government. Will the proposed Bad Bank cure India’s banking sector and Fix NPA woes faced by the Banks?


9. Discuss about Global Minimum Corporate Tax Rate (GMCTR), its advantage and disadvantage. What will be the implication of GMCTR on India?

10. As a panacea to the growing energy needs of India, discuss the relevance of One Sun One World One Grid plan.

Sample Answer #Question No - 5

Micro, Small and Medium Enterprises in India are registered and defined under Micro, Small and Medium Enterprises Development Act, 2006. MSME is defined as any enterprises engaged in the manufacturing or production, processing or preservation of goods as specified by the act based on their investment in plant and machinery to start business.

In India, MSMEs have been accepted as the engine of economic growth and act as backbone of the national economic structure due to its size and geographical expanse across the country. MSMEs are the second largest employment generating sector and it provides employment to around 120 million persons in India. It provides opportunity for budding entrepreneurs to build creative products boosting business competition and fuels growth.

Despite the enormous growth potential, the MSME sector is plagued with various challenges. One of the major challenges faced by MSMEs are their age-old inefficient methods of operating business and their inertia to adopt technology. By adopting digital technology, they can increase their productivity and revenue by more than 30% but there are many businesses which doesn't even have computer literacy. Another major challenge faced by this sector is inefficient credit facility from commercial banks and financial institutions, it is partly due to weak credit worthiness. Due to unavailability of credit facility they are bound to obtain credit from the money lenders on a very high rate of interest and are, thus, exploitative in character. 

Recently Ministry of Finance announced measures to improve the conditions under the Aatmanirbhar Bharat, there were six announcements including the change in the definition of MSMEs based on Investment. Government has launched improved credit facility including collateral free loans and subordinate debt of Rs. 20,000 crores for stressed MSMEs. These measures will improve the conditions of MSMEs provided that they reach to real beneficiaries.

Total Words - 298 (Need to Add Few More Points to make it 400 Words)

Recommended Reading for Answers: Agrilearn.in and ecolearn.in

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