Topic Details (Notes format)

Bioeconomy and Biotech Sector

Subject: Economics

Book: Comprehensive Indian Economy - Additional Topics

India’s biotech potential extends to pharmaceuticals, agribiotech, and industrial enzymes. Initiatives strive to create biotech parks, encourage R&D, and attract global venture capital. For exam preparation, highlight how genetic engineering in seeds can raise yields, or how biotech helps produce vaccines, nutraceuticals, and industrial fermentation products. Intellectual property frameworks, skill gaps in advanced research, and ethical questions around GM crops or gene editing also appear in policy discussions.

Practice Questions

Which is the largest source of tax revenue for the Government of India?

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What is “open market operations” (OMO)?

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What does “balance of trade” refer to?

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What is meant by “monetary policy”?

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

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Which of the following is NOT a component of Aggregate Demand?

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What is meant by “stagflation”?

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What is the primary function of the International Monetary Fund (IMF)?

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Which of the following is NOT a function of the World Trade Organization (WTO)?

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Which of the following is a characteristic of “perfect competition”?

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