The national income of a country can be measured by: (i) Product Method or the Output Method (ii) Income Method, and (iii) Expenditure Method. The output approach focuses on finding the total output of a nation by directly finding the total value of all goods and services a nation produces. The expenditure approach is basically an output accounting method. Under the Income method, national income is measured as a flow of factor incomes.

Correct Option: C

The national income of a country can be measured by: (i) Product Method or the Output Method (ii) Income Method, and (iii) Expenditure Method. The output approach focuses on finding the total output of a nation by directly finding the total value of all goods and services a nation produces. The expenditure approach is basically an output accounting method. Under the Income method, national income is measured as a flow of factor incomes.

Provision of Urban Amenities to Rural Areas (PURA) is a strategy for rural development in India. This concept was given by former president Dr. A.P.J. Abdul Kalam and discussed in his book Target 3 Billion which he co-authored with Srijan Pal Singh. PURA proposes that urban infrastructure and services be provided in rural hubs to create economic opportunities.

Correct Option: B

Provision of Urban Amenities to Rural Areas (PURA) is a strategy for rural development in India. This concept was given by former president Dr. A.P.J. Abdul Kalam and discussed in his book Target 3 Billion which he co-authored with Srijan Pal Singh. PURA proposes that urban infrastructure and services be provided in rural hubs to create economic opportunities.

Pradhan Mantri Krishi Seenchayi Yojana will converge with rural development schemes like Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) and other schemes of agriculture ministry and land resources department. This will help in creating more irrigation assets.

Correct Option: A

Pradhan Mantri Krishi Seenchayi Yojana will converge with rural development schemes like Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) and other schemes of agriculture ministry and land resources department. This will help in creating more irrigation assets.

Net Factor Income from Abroad (NFIA) refers to income generated by nationals abroad in the form of wages, salaries, rent, interest, dividend and profit. It has the following three components: (a) Net compensation of employees; (b) Net income from property i.e., rent, interest and income from entrepreneurship (that is, profits and dividends); and (c) Net retained earnings of the resident companies working in foreign countries. Profits earned by Indian banks functioning abroad come under ‘income from entrepreneurship.’

Correct Option: A

Net Factor Income from Abroad (NFIA) refers to income generated by nationals abroad in the form of wages, salaries, rent, interest, dividend and profit. It has the following three components: (a) Net compensation of employees; (b) Net income from property i.e., rent, interest and income from entrepreneurship (that is, profits and dividends); and (c) Net retained earnings of the resident companies working in foreign countries. Profits earned by Indian banks functioning abroad come under ‘income from entrepreneurship.’

Indian economy is an example of mixed economy, an economic system that contains a mixture of markets and economic planning, in which both the private sector and state direct the economy. It is a mixture of public ownership and private ownership; and market economies with strong regulatory oversight and governmental provision of public goods.

Correct Option: A

Indian economy is an example of mixed economy, an economic system that contains a mixture of markets and economic planning, in which both the private sector and state direct the economy. It is a mixture of public ownership and private ownership; and market economies with strong regulatory oversight and governmental provision of public goods.