Answer any two questions from this section in about 700 words each

1. "Though the reforms in economic policy have been proceeding at a relatively slow pace, they are addressing the ills of the economy in a more fundamental manner." Explain the statement. Also suggest measures to accelerate the pace of change.

2. "A great window of demographic opportunity has opened up for India. It is for India to take advantage of it". Suggest policy initiatives to this end.

3. What are Multi -National Corporations? Explain their role in the growth of Indian economy since 1991. State the different changes in the government policy towards foreign capital.

4. "Monetary policy alone cannot be effective. It has to work along with suitable fiscal policy." Examine this statement in light of India's experience with growth, inflation and unemployment since 1990s.

Answer any five questions from this section in about 400 words each.

5. Examine the changing share of factor incomes in India's GDP and growing inequalities in the Indian economy.

6. What changes have taken place in the role of state in the process of liberalisation

7. Discuss the implications arising out of agricultural price policy.

8. State the important WTO agreements. How has India benefited from these agreements?

9. What do you mean by Public Private Partnership Evaluate its role in infrastructure investment in the Indian economy.

10. What do you mean by fiscal federalism? How far the centre -state financial relations adhere to the principles of federal finance?

11. What do you mean by parallel economy? How does it function? Suggest policy initiatives to bring it under control.

12. "Inclusive growth calls for both quantitative and qualitative expansion in the role of local bodies, especially Panchayati Raj Institutions." Examine this statement.

13. Evaluate the available delivery mechanism for implementation of economic policies in India.