Time Allowed is Three Hours and Maximum Marks are 200. There are 16 questions divided under three sections. The only question in Section A is compulsory. In Section B, 6 out of 9 questions are to be attempted. In Section C, 4 out of 6 questions are to be attempted.
1. Answer all the following parts in about 100 words each : 5 × 6 = 30
(a) Name all the systemic changes that are required to enable public sector enterprises function like commercial enterprises.
(b) Explain 'carrying capacity' in the context of renewable resources.
(c) Why, in the presence of recycling capability, are metallic non-renewable resources eventually exhaustible?
(d) What is price discrimination and how is it used to increase a monopoly's profit?
(e) What are the components of revenue receipt in the budget of State Government in India?
(f) What is carbon tax? Is it right time to introduce carbon tax in India? Substantiate.
Answer any SIX questions out of the following NINE in about 200 words each : 15 × 6 = 90
2. What is 'balanced budget multiplier? Is its value always equal to unity? Discuss.
3. What is sustainable national income? What modifications are required in the conventional national accounting system to arrive at an environmentally adjusted national income?
4. How can optimum level of pollution be achieved through the use of pollution vouchers?
5. Differentiate between 'revenue deficit' and 'fiscal deficit'. What are the successes and failures of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003?
6. "Both the market structure and innovative activities are endogenous." Discuss this using the Neo-Schumpeterian framework.
7. What is decentralized planning? Why is the district plan not integral to the planning process despite its constitutional mandate?
8. What is contestable market? What are its determinants? What are the operational setbacks of the market?
9. What is market concentration? How can it be measured using Dispersion Index?
10. What are the rationales and objectives of economic planning in a developing country?
Answer any FOUR questions out of the following SIX in about 300 words each : 20 x 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.
12. What are the approaches to regulate environment? Evaluate these approaches in terms of their cost and efficiency.
13. In the theories of firm, the 'behavioural' theory postulates the 'satisficing' behaviour as opposed to the 'maximizing' principle. Elucidate.
14. Differentiate between the Goods and Services Tax (GST) and Value Added Tax (VAT) in terms of their operations in Indian Federation.
15. Can disinvestment of public sector enterprises and the notion of 'Welfare State' go together? Critically examine.
16. "Sustainable development is a distant dream." Examine this statement in view of international conventions.