Topic Details (Notes format)

Research & Development and Innovation

Subject: Economics

Book: Comprehensive Indian Economy

Investment in R&D fosters technological advancement, higher productivity, and global competitiveness. India’s R&D spend remains modest compared to developed nations, concentrated in defense and space. Private sector involvement is growing in pharmaceuticals, IT, and automotive sectors. Government initiatives like Make in India, Atal Innovation Mission, and dedicated innovation labs encourage startups, but bridging lab-to-market gaps remains a challenge. Exam queries might revolve around IPR regimes, venture capital ecosystems, and the link between university research and commercial products. Strengthening patent enforcement and building a robust knowledge economy is a strategic imperative for higher-value exports.

Practice Questions

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

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What is the main aim of the “Startup India” initiative?

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Which of the following is a feature of monopolistic competition?

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Which of the following is an example of a capital receipt for the government?

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What does “inclusive banking” mean?

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What does the term “capital account” refer to in the balance of payments?

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

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Which of the following factors is NOT included in the calculation of Human Development Index (HDI)?

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What is the meaning of “supply-side economics”?

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Which term refers to the decrease in the value of a currency relative to foreign currencies?

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