Topic Details (Notes format)

Employment Generation and Skill Development

Subject: Economics

Book: Comprehensive Indian Economy

Promoting employment is vital for inclusive growth. Skill India, Pradhan Mantri Kaushal Vikas Yojana (PMKVY), and apprenticeship programs aim to enhance workforce competencies. Startups, MSMEs, and labor-intensive manufacturing (textiles, food processing) can absorb large labor pools if policies address ease of doing business and infrastructure gaps. Migration to cities underscores the need for robust skill mapping and vocational training. Emphasis on “new economy” skill sets (AI, coding, data analytics) is rising. Exam answers often connect skill initiatives to bridging the mismatch between formal education outputs and industry demands, ensuring demographic dividend utilization.

Practice Questions

Which of the following is an example of fiscal policy?

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What is “inclusive growth”?

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Which of the following measures is most effective in controlling inflation?

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Which of the following is a feature of a command economy?

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What is the objective of the Goods and Services Tax (GST)?

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What is the Phillips Curve?

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Which term refers to an economy that has elements of both capitalism and socialism?

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

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What does “Laissez-faire” policy advocate?

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What does “inclusive banking” mean?

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