Topic Details (Notes format)

Rural Industrialization and Cluster Development

Subject: Economics

Book: Comprehensive Indian Economy - Additional Topics

Rural industrialization hinges on leveraging local resources (handicrafts, agro-processing), adopting advanced technologies, and plugging into global supply chains. Government supports cluster-based approaches (SFURTI, MSE-CDP) to upgrade product quality, promote common facility centers, and encourage brand building. In exam contexts, highlight how cluster models reduce costs, improve marketing channels, and empower rural entrepreneurs. Ensuring synergy with digital platforms for e-commerce can further expand reach, raising rural incomes and diversifying the local economy.

Practice Questions

What is the main purpose of monetary policy?

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

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Which of the following is NOT an example of a direct tax?

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What is the meaning of “dumping” in international trade?

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Which of the following is considered a public good?

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What is the meaning of "fiscal deficit"?

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Which of the following causes demand-pull inflation?

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Which economic concept is described as “the next best alternative foregone”?

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What is meant by “marginal propensity to consume”?

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