Topic Details (Notes format)

Financial Literacy and Inclusion

Subject: Economics

Book: Comprehensive Indian Economy - Additional Topics

Financial literacy ensures informed choices about savings, credit, and insurance. It underpins effective usage of Jan Dhan accounts, PMJJBY, PMSBY, and digital payment apps. Government and RBI-led drives encourage awareness workshops, school-level curricula, and multimedia campaigns. For exam readiness, stress how bridging financial literacy gaps fosters healthier borrowing habits, reduces fraud vulnerability, and leads to higher economic participation among low-income households.

Practice Questions

What is meant by “crowding out” in economics?

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Which of the following sectors contributes the most to India’s GDP?

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What is the term for the ability of an economy to produce more output from the same inputs?

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What is the objective of the Pradhan Mantri Jan Dhan Yojana?

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What is meant by “structural unemployment”?

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Which of the following statements best defines Gross Domestic Product (GDP)?

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Which of the following is an example of a public sector undertaking (PSU) in India?

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Which of the following is an example of a non-renewable resource?

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What is “inflation targeting”?

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What is the term for goods that are used together, such as cars and fuel?

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