SECTION A (60 Marks)

Answer all questions.

Question 1 [1]

A company forfeits 1,000 shares of ₹ 10 each. It had received ₹ 6,000 on these shares.
What is the maximum discount that can be allowed by the company on the reissue of 400
shares?

(a) ₹4,000
(b) ₹400
(c) ₹2,400
(d) ₹ 1,600

Question 2 [1]

Which of the following groups not included a company could issue shares for consideration other than cash?

(a) Issue of shares to promoters

(b) Issue of shares to Underwriter
(c) Issue of shares to Vendors
(d) Issue of shares to the General public for cash

Question 3 [1]
Bharat Ltd. (a listed NBFC) has 40,000, 5% Debentures of ₹100 each due for redemption at
par on 31st March 2022.
The Debenture Redemption Investment which was purchased on 30th April, 2021, was
realized on the date of redemption at 111% less 1% brokerage, and the debentures were
redeemed.
You are required to calculate the sale price of the Debenture Redemption Investment.

Question 4 [1]
What is the object of the realization account?

(a) Close the books of accounts

(b) To determine the profit or loss on realization of assets and payment of liabilities.

(c) To determine the profit or loss on revaluation of assets and reassessment of liabilities.

(d) a and b

Question 5 [1]

At the time of retirement of a partner, Loss on revaluation of assets and reassessment of liabilities should be Debited
to …
(a) All partner’s capital account in their old ratio
(b) Retiring partner’s capital account in his/her sacrificing ratio
(c) Remaining partner’s capital account in their new ratio
(d) None of these

Question 6 [1]

The formula for valuing goodwill under the Capitalisation of Super Profits method is:
(a) Super profit made by the firm multiplied by the normal rate of return
(b) Capital Employed by the firm multiplied by the normal rate of return
(c) Capitalised profit of the firm divided by the rate of return
(d) Super profit made by the firm divided by the normal rate of return

Question 7 [1]

A and B are partners in a firm sharing profits and losses in the ratio of 3:2. They admit C as a new partner for 1/5
share of profit. Investment Fluctuation reserve ₹45,000.
Book Value of Investment ₹60,000. The market value of Investment at the time of admission of ‘C’ ₹45,000. What
Journal entry will be passed in the books of the firm?

Question 8 [1]

A, B, and C are partners in a firm sharing profits and losses in the ratio of 3:2:1. C retires from the firm and his share
is purchased by A and B in the ratio of 1:1 New Profit sharing ratio between A and B respectively would be:-
(a) 1:1
(b) 2:2
(c) 7:5
(d) 3:2

Question 9 [1]

P and Q are partners in a firm sharing profits and losses in the ratio of 3:2. They admit R as a new partner for 1/4
share of profit.
Workmen Compensation Reserve ₹35,000.
Provision for Workmen Compensation Claim ₹25,000. What Journal entry will be passed in the books of the firm?

Question 10 [1]

The Share of Goodwill of the retiring partner is debited to remaining partners in their…

(a) Sacrificing Ratio

(b) Gaining Ratio
(c) New Ratio
(d) Old Ratio

Question 11 [3]

Kavi, Dhruv and Parth are partners in a firm sharing profits and losses in the ratio of 3:1:1.

Balance Sheet of Kavi, Dhruv and Parth (extract) As at 31st March, 2022

Liabilities (₹) Assets (₹)

– – Bank 25,000

On Kavi’s retirement from the firm on 1st April 2022, the amount due to him is determined at ₹ 76,000. The firm took
a sufficient loan from the bank on the mortgage of the firm Building to pay the amount due to Kavi.

You are required to pass the necessary journal entries to pay the amount due to Kavi.

OR

BHARAT Ltd issued for public subscription 40,000 equity shares of Rs. 10 each. Application received for 50,000
shares. 40,000 shares allotted to 50,000 applicants on a pro-rata basis and Excess application money adjusted with
allotment. Amount payable as under:

On application Rs. 3 per share,

 on allotment Rs. 4 per share,

on first and Final call Rs. 3 per share.

All duly money received.

Pass journal entries in the books of the company.

Question 12 [3]

Reena and Meena are partners in a firm. They admit Teena on 1st April, 2022, for 1⁄4 share in the profits of the firm.
On average, the profits earned by Reena and Meena are ₹ 51,000.
The average capital employed by the firm is ₹ 2,50,000.
The normal rate of return in the industry is 10%.
It is decided to value goodwill on the basis of four years’ purchase of profits in excess of profits @ 10% on the money
invested.

You are required to:

(i) Calculate the goodwill of the firm.

(ii) Pass the journal entries in the books of the firm if Teena brings into the firm her share of goodwill in cash.

Or

The Hindustan Limited purchased Building on credit from J. k. Builders Rs. 27,00,000 and issued 10% Debentures of
Rs. 100 each as purchase consideration. pass Journal Entries from the following cases –

(a)If debentures issued at par.

(b)If debentures issued at 10% Discount.

(c)If debentures issued at 25% Premium.

ISC ACCOUNTS Sample paper 2023

Question 13 [3]

A, B and C were partners sharing profits in the ratio of 6:4:5. On 1st April, 2016, B retired from the firm and the new
profit-sharing ratio between A and C was decided as 11:4. On B’s retirement, the goodwill of the firm valued at
Rs.3,60,000. Pass journal entry for treatment of goodwill on B’s retirement

OR

The net profit of X, Y and Z for the year ended March 31, 2022was ₹3,00,000 and the same was distributed among
them in their agreed ratio of 3:1:1. It was subsequently discovered that the under mentioned transactions were not
recorded in the books:

(i) Interest on Capital @ 12% p.a.

(ii) Interest on drawings amounting to X ₹1,900, Y ₹1,600 and Z ₹1,500.

(iii) Partner’s Salary: X ₹2,000 pm. Y ₹36,000 p.a.

The capital accounts of partners were fixed as: X ₹1,00,000, Y ₹80,000 and Z ₹60,000. Record the adjustment
entry.

Question 14 [3]

A and B sharing profits and losses in the ratio of 3:2 decide to admit C for 1/4rd share. On this date, their balance
sheet disclosed the following items. Pass journal Entries in the Books of firm.
Investment fluctuation Reserve 80,000

Investment (at costs) in Balance sheet 4,00,000

Case (i) If the Market value of investment is Rs. 3,50,000

Case (ii) If the Market value of investment is Rs. 3,20,000

Case (iii) If the Market value of investment is Rs. 3,00,000

Question 15 [6]

The Balance Sheet of Ravi and Kavi as at 31st March, 2022, was as follows:

Balance Sheet of Ravi and Kavi As at 31st March, 2022

Liabilities (₹) Assets (₹)

Creditors 50,000 Cash 14,000

Investment Fluctuation Fund 3,000 Debtors 47,000

Capital Accounts: Ravi Stock 23,000

Kamal 35,000 Furniture 500

27,500 Property 20,000

Investment 11,000

1,15,500 1,15,500

The partners shared profits in the ratio of 4:1. On that date Shubi is admitted into the partnership for 1/5 share of
profit on the following terms:

1. Shubi brings in ₹ 35,000 as capital and ₹15,000 as premium for goodwill in cash.

2. The value of the stock is reduced by ₹3,000 while Property is appreciated by 20%.

3. Furniture is revalued at ₹450.

4. A provision for doubtful debts is to be created on sundry debtors at 10%

5. Patents worth ₹ 5,000 (not mentioned in the balance sheet) is to be taken into account.

6. Market value of investment ₹12,000. Prepare Revaluation account.

Question 16

The partners decided to dissolve their partnership on 31st March 2017.

The following transactions took place at the time of dissolution:

(a) Realization expenses of ₹ 2,000 were paid by Susan on behalf of the firm.
(b) Geeta took over the goodwill for her own business at ₹ 40,000.
(c) Building was taken over by Rashi at ₹ 3,00,000.
(d) Only 80% of the debtors paid their dues.
(e) Furniture was sold for ₹ 97,000.
(f) Bank Loan was settled along with interest of ₹ 5,000.
You are required to prepare the Realization Account.

OR

Harish, Paresh and Mahesh were three partners sharing profits and losses in the ratio of
5:4:1.
Paresh retired on 31st March, 2017. His capital as on 1st April, 2016, was ₹ 80,000.
During the year 2016-17, he made drawings of ₹ 5,000. He was to be charged interest on
drawings of ₹ 100.
The partnership deed provides that on the retirement of a partner, he will be entitled to:
(i) His share of capital.
(ii) Interest on capital @ 10% per annum.
(iii) His share of profit in the year of retirement.
(iv) His share of goodwill of the firm.
(v) His share in the profit/loss on revaluation of assets and liabilities.
Additional information:
(a) Paresh’s share in the profits of the firm for the year 2016-17 was ₹ 20,000.
(b) Goodwill of the firm was valued at ₹ 24,000.
(c) The firm suffered a loss of ₹ 12,000 on the revaluation of assets and liabilities.
(d) It was decided to transfer the amount due to Paresh to his loan account bearing
interest @ 6% per annum. The loan was to be repaid in two equal annual
instalments, the first instalment to be paid on 31st March, 2018.
You are required to prepare:
(i) Paresh’s Capital Account.
(ii) Paresh’s Loan Account till it is finally closed

Question 17 [6]

Jay and Vijay are partners in a firm sharing profits and losses in the ratio of 3 : 2. Sanjay is admitted as a new partner
for 3/13th share in the profits. Sanjay contributed the following assets towards his capital and for his share of
goodwill. Land ₹ 90,000; Machinery ₹ 90,000; Stock ₹ 60,000; Debtors ₹ 60,000. On the date of admission, Goodwill
of the firm is valued at Rs. 5,20,000. Journalize the above transaction in the books of firm.

Question 18 [10]

Subhash Ltd. was registered with an authorized capital of ₹40,00,000 divided into 4,00,000
Equity Shares of ₹10 each.
The company offered 1,00,000 shares to the public at a premium of ₹2 per share, payable as
follows:
₹ 3 on application
₹ 6 on allotment (including premium)
₹ 3 on first and final call (due two months after allotment)
Applications were received for 1,20,000 shares and pro-rata allotment was made as follows:
Category A: The applicants of 80,000 shares were allotted 60,000 shares.
Category B: The applicants of 40,000 shares were allotted in full.
Excess money paid on application was utilized towards allotment.
Sunil, a shareholder from Category A, who had applied for 1,200 shares failed to pay the
allotment and call money.
Anil, a shareholder from Category B, who had been allotted 1,000 shares, paid the call
money due, along with allotment.
The company forfeited Sunil’s shares after the first and final call and paid interest on Callsin-advance to Anil @ 12%
per annum on the day of the final call.
You are required to:
Pass journal entries to record the above transactions in the books of the company
(including entries for interest on Calls-in-advance).

OR

The partnership agreement of Rohit, Ali and Sneh provides that:

(i) Profits will be shared by them in the ratio of 2:2:1.

(ii) Interest on capital to be allowed at the rate of 6% per annum.

(iii) Interest on drawings to be charged at the rate of 3% per annum.

(iv) Ali to be given a salary of ₹ 500 per month.

(v) Ali’s guarantee to the firm that the firm would earn a net profit of at least ₹ 80,000 per annum and any
shortfall in these profits would be personally met by him.

The capitals of the partners on 1st April, 2021, were:

Rohit – ₹ 1,20,000; Ali- ₹ 1,00,000; Sneh- ₹ 1,00,000.

All the three partners withdrew ₹1,000 each at the beginning of every month. The net profit for the year 2021-22
was ₹ 70,000.
You are required to prepare for the year 2021- 2022:

(i) Profit and Loss Appropriation Account.

(ii) Ali’s Capital Account.

Question 19 [10]

Carl was to be taken as a partner for 1/4 share in the profits of the firm, with effect from
1st April, 2017, on the following terms:
(a) Bad debts amounting to ₹ 1,500 to be written off.
(b) Stock to be taken over by Annie at ₹ 12,000.
(c) Plant and Machinery to be valued at ₹ 50,000.
(d) Goodwill of the firm to be valued at ₹ 20,000.
(e) Carl to bring in ₹ 50,000 as his capital. He was unable to bring in cash, his share of
goodwill.
(f) General Reserve not to be distributed. For this, it was decided that Carl would
compensate the old partners through his current account.
You are required to:
(i) Pass journal entries on the date of Carl’s admission.
(ii) Prepare the Balance Sheet of the reconstituted firm.

OR

Naresh, Dhruv and Azeem are partners sharing profits in the ratio of 5:3:7. Naresh retires from the firm. Dhruv and
Azeem decided to share profits in the ratio of 2:3. The adjusted capital accounts of Dhruv and Azeem at the time of
Naresh’s retirement showed the balances of ₹ 33,000 and ₹ 70,500 respectively. The total amount to be paid to
Naresh is ₹ 90,500 which is paid in cash immediately by the firm, the cash being contributed by Dhruv and Azeem in
such a way that their capitals become proportionate to their new profit-sharing ratio and the firm maintains a
minimum cash balance of ₹ 5,000 from its existing balance of ₹ 20,000.
You are required to pass journal entries to record:
• Payment made to the retiring partner
• Cash brought in by the remaining partners to pay off the retiring partner
SECTION B (20 Marks)
Answer all questions

Question 20 [1]

Which of the following transactions would not create a cash flow?

(a) A company purchased some of its own stock from a stockholder
(b) Amortization of a patent
(c) Payment of a Cash Dividend
(d) Sale of equipment at book value

Question 21 [1]

Net revenue from Operation: ₹30,00,000

Cost of Revenue from Operation: ₹24,00,000, Wages: ₹40,000, Salary: ₹40,000, Factory Expenses: ₹60,000, Office
Management Expenses: ₹1,00,000. Gross profit Ratio will be:
(a) 20%
(b) 16.6%
(c) 10%
(d) None of these

Question 22 [1]

Current Ratio 4:1 and the Quick Ratio is 2:5:1. Inventories: ₹22,500. Amount of Current Asset will be:
(a) ₹60,000
(b) ₹82,500
(c) ₹90,000
(d) None of These

Question 23 [1]

Common Size Statements are prepared:

(a) In the form of Ratios
(b) In the form of Percentages
(c) In both of the Above
(d) None of the Above

Question 24 [1]

Interest received in cash on loans and advances results in cash inflow from ………… activity
(a)Financing
(b)Investing
(c)Operating
(d)None of the above

Question 25 [3]

From the following particulars of Aarti Ltd., you are required to prepare a Common-size Balance Sheet as at
31st March, 2022.

Particulars 31.03.2022 (₹)

Shareholder’s Funds 15,00,000

 Non-Current Liabilities 3,00,000

Current Liabilities 2,00,000

Total Equity & Liabilities 20,00,000

Non-current Assets 14,00,000

Current Assets 6,00,000

Total Assets 20,00,000

Or

From the following information, prepare a Comparative Statement of Profit and Loss Bharat Ltd:

31.03.2020 31.03.2019
Particulars
Rs. Rs.

Revenue from Operations 30,00,000 26,00,000

Cost of Material consumed 18,50,000 14,00,000

Interest from Investments 1,50,000 1,00,000

Employee Benefit Expenses 2,50,000 2,00,000

Tax Rate 40% 40%

Question 26 [6]

From the following information, calculate the following ratios (ISC 2020) :
(i) Debt to Total Assets Ratio
(ii) Proprietary Ratio
(iii) Inventory Turnover Ratio

Fixed Assets ₹14,00,000

Current Assets (including inventory of ₹ 2,00,000) ₹ 10,00,000
Shareholders’ Funds ₹14,40,000
Non- Current Liabilities (10% Long-term Bank Loan) ₹8,00,000
Current Liabilities ₹5,00,000
Revenue from Operations ₹15,00,000
Gross Profit ₹6,00,000
Question 27 [6]

You are required to prepare a Cash-Flow Statement (as per AS-3) for the year 2018- 19 from the following Balance
Sheets: (ISC)
SECTION A – MACRO ECONOMICS MARKS 1

Read the following statements carefully:

Statement 1: Consumption function assumes that, consumption changes at a constant rate as income changes.
Statement 2: Autonomous consumption is the ratio of total consumption (C) to total income (Y).

In light of the given statements, choose the correct alternative from the following:

a) Statement 1 is true and Statement 2 is false.

b) Statement 1 is false and Statement 2 is true.

c) Both Statements 1 and 2 are true.

d) Both Statements 1 and 2 are false. 1

2 For a closed economy (with no foreign trade), which one of the following is correct?

a) GDP = GNP b) GDP > GNP c) GDP < GNP d) GDP + GNP=0 1

3 The value of __________ can be greater than one. (Choose the correct alternative to fill up the blank)

a) Marginal Propensity to Consume b) Average Propensity to Consume c) Marginal Propensity to Save d) Average
Propensity to Save 1
4 As per the Reserve Bank of India (RBI) press report, dated 29th December, 2022: "Net external commercial
borrowings to India recorded an outflow of US$ 0.4 billion in the second quarter (2022-23)" The above transaction
will be recorded in the _______ account on ______ side of Balance of payments account of India. (Choose the
correct alternative to fill up the blanks)

a) current, credit b) current, debit c) capital, credit d) capital, debit 1

5 “The value of all goods and services can be expressed in monetary units.” On the basis of the given statement,
identify the function performed by money:

a) Medium of exchange b) Store of Value c) Unit of account d) Means of standard of deferred payments 1

6 Find the missing figures and choose the correct alternative: Round Deposits Loans (80%) Reserve Ratio (20%) I
1,000 800 200 II 800 ….(i)…. 160 .. .. .. .. .. .. Total …(ii)… …(iii)… …(iv)… Alternatives:

a) 640,1000,4000,5000 b) 960,5000,4000,1000 c) 640,4000,1000,5000 d) 640,5000,4000,1000 1

7 Graphically, Aggregate Demand function can be obtained by vertically adding the _________ and _________
function.(Choose the correct alternative to fill up the blanks)

a) consumption, saving b) consumption, investment c) investment, saving d) aggregate supply, consumption 1

8 Identify the correct reason(s) that may affect the demand for foreign exchange in an economy. I. Imports of
visibles II. Exports of invisibles III. Remittances by residents working abroad IV. Purchase of assets abroad
Alternatives:

a) I and II b) II and III c) III and IV d) I and IV 1

9 Suppose for a given economy, S= -60 + 0.1Y I= ₹ 4,000 crore (Where S = Saving Function, Y = National Income and I
= Investment Expenditure) Equilibrium level of Income would be ₹ ______ crore. (Choose the correct alternative to
fill up the blank) Alternatives:

a) 4,000 b) 40,000 c) 40,600 d) 60,400

10 Read the following chart carefully and choose the correct alternative:

Capital A/c Balance : i) External Borrowings ii) External Assistance iii) Investment> a) Direct Investment b) _____

Alternatives:

a) Interest received on loans b) Multilateral Loans c) Portfolio Investment d) Govt Aid

11 ‘Current account deficit in an economy surplus’. Do you agree with the given statement

12 (A) On the basis of the given data, estimate the value of Domestic Income: S. No. Items

i. Household Consumption Expenditure 600cr

ii. Gross Fixed Capital Formation 200 cr
 iii. Change in stock 40cr
iv. Government Final Consumption expenditure 200cr
v. Net Exports (-40cr)
vi. NIT 120cr
vii. Net Factor Income From Abroad 20 cr
viii. Consumption of Fixed Capital 40 cr

OR (B) State the meanings of the following: (i) Externalities (ii) OS iii) Consumption Goods

13 For a hypothetical economy, the government incurs an investment expenditure of Rs 1000 crore. If the value of
Marginal Propensity to Save (MPS). Falls from 0.25 to 0.10. Calculate the value of increase in income due to change
in the value of Marginal Propensity to Save 4

14 (A) "In an economy, ex-ante Aggregate Demand is more than ex-ante Aggregate Supply." Elaborate the possible
impact of the same, on the level of output, income and employment. 4

OR (B) “With an objective to reduce inflation, Reserve Bank of India may promote the commercial banks to park their
surplus funds with it.” Discuss the rationale behind the step taken by the Reserve Bank of India.

15 Elaborate the ‘Banker’s Bank and Supervisor’ function performed by the Reserve Bank of India 4

16 (A) On the basis of the given information, calculate the value of: (i) Fiscal deficit (ii) Primary deficit Items 2021-22
(₹in crore) (i) Revenue Receipts 20 (ii) Capital Expenditure 15 (iii) Revenue Deficit 10 (iv) Non-debt creating capital
receipts 50% of revenue receipts (v) Interest Payments 4

(B) State any two features of public goods. 3+2+1

OR (C) Explain the economic stability objective of Government Budget.

(D) ‘Under the Ayushmaan Bharat Scheme, the Government provides free medicines to the economically backward
section of the society’. Identify and discuss the nature of the government expenditure indicated in the given 3+3

17 (a) Giving valid reasons, explain how the following would be treated while estimating domestic income? (i)
Payment made by American tourist for goods purchased in India. (ii) Tomatoes grown by Ms. Puja in her kitchen
garden.

(b) "Machine purchased by a firm is always a capital good." Do you agree with the given statement? Give valid
reasons for your answer.3+3

SECTION B – INDIAN ECONOMIC DEVELOPMENT

18 Identify the correct combination of the ‘Goals of Indian Five Year Plans’:

a) Growth, Equality, Modernisation, Self-Reliance b) Development, Equality, Modernisation, Sustainability c) Good

Health, Education, Modernisation, Sustainability d) Growth, Equity, Modernisation, Self-Reliance

19 ‘China has performed exceedingly well in various health and economic indicators Identify which of the following is
not a health indicator? a) Infant Mortality Rate (per 1000 live births) b) Life Expectancy at Birth (years) c) Percentage
of people below poverty line (National) d) Maternal Mortality Rate (per 1 lakh births)

20 The shackles of agriculture during the colonial rule were permanently broken by the Green Revolution that
resulted from the application of _______
I. High Yielding Varieties (HYV)

II. Mechanization of Agriculture

III. Chemical Fertilizers and Pesticides

IV. Organic Fertilizers and Pesticides

Alternatives: a) I, II, IV b) I, II, III c) II, III, IV d) I, III, IV

21 Women in rural households take up bee activities may be envisaged under _________ as diversification activity.
a) Animal husbandry c) Horticulture

22 Read the following statements: Assertion (A) and Reason (R). Choose the correct alternative from those given
below. Assertion

(A): In 1991, as an immediate measure to resolve the Balance of Payments crisis, the rupee was devalued against
foreign currencies. Reason

(R): Devaluation of currency was eminent, exchange reserves. Alternatives:

a)Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation ofAssertion (A).

b) Both Assertion (A) and Reason (R) are true, but Reason (R) is explanation of Assertion (A).

c) Assertion (A) is true, but Reason (R) is false.

d) Assertion (A) is false, but Reason (R) is true.

23 Under ______ in China farmers and industrial units were required to buy and sell fixed quantities of inputs and
outputs on the basis of prices fixed by the government and the rest were purchased and sold at market prices.
(Choose the correct alternative to fill up the blank)

a) Commune System b) Great Leap Forward c) Dual Pricing d) Great Proletarian Cultural Revolution

24 Micro credit programmes play a vital role in ensuring an overall development of the rural economy as
they____________.(Choose the correct alternative to fill up the blank) (i) provide financial support (ii) lead to
women empowerment (iii) enhance the reach of formal credit system Alternatives:

a) (i) and (ii) b) (ii) and (iii) c) (i) and (iii) d) (i), (ii) and (iii)

25 _______may be defined as the measure of the extent of demographic participation in the social and political
decision making. (Choose the correct alternative to fill up the blank)

a) Economic indicator b) Liberty indicator c) Health indicator d) Demographic indicator

26 Read the following statements carefully: Statement

1: The nature of unemployment problem in India is uni-faceted. Statement 2: Worker-Population ratio is an indicator
used for analysing the employment situation in a country. In light of the given statements, choose the correct
alternative from the following:

a) Statement 1 is true and Statement 2 is false. b) Statement 1 is false and Statement 2 is true. c) Both Statements 1
and 2 are true. d) Both Statements 1 and 2 are false
27 From the set of the events given in column I and corresponding facts given in Column II, choose the correct pair of
statements Alternatives: a) A-I b) B-II c) C-III d) D-IV

Column I Column II

A. Adoption of mixed economic system : I. The common development policy of India and
China

B. Introduction of economic reforms in China II. Imposed by World Bank

C. Great Leap Forward Campaign III. Focussed on massive industrialization

D. First Five Year Plan of Pakistan IV. Announced in 1953

28 (A) “During the colonial period, a number of socio state.” List any three such indicators that led to the worsening
of India’s demographic profile. 3

OR (B) “The pre-independent India’s occupational structure experienced growing regional variation.” Justify the
above statement with valid 3

29 “Ravya was initially working as an office clerk in a firm. In the pursuit to attainposition and income, she attended
a few on contributed positively to her skills and expertise.” Explain the impact of Ravya’s decision on human capital
formation. 3

30 “In the late 1970s, China introduced the One coupled with skewed sex ratio.” Justify the given statement with
valid arguments in support of your answer. 4

31 (A) State and elaborate whether the following statements are true or false, with valid arguments:

(i) Agricultural marketing is a process that ensures the transportation of various agricultural commodities only. 2

(ii) Jan-Dhan Yojana has been a crucial step for financial resource mobilization in the Indian economy. 2

OR

(B) “Since independence, the government has been playing an important role in generating employment directly or
indirectly.” 4

32 Identify the situation depicted in the given image. Suggest situation, on the Indian economy. 4

33 (A) Green revolution transformed India from a subsistent food grain economy to a food surplus economy.” Justify
the statement, giving reasons in support of your answer. 3

(B) “In order to protect domestic industries, India followed the regime of restrictions on imports.”

Briefly outline and discuss such steps taken by the government to promote import substitution policy. 3

OR

(C) “In India, after 1947 land reforms were introduced on a large scale.” In the light of the given statement, discuss
any one such land reform. 3
(D) “In the post-reform period, the Government of India decided to retain profit-making Public Sector Undertakings
(PSUs). It provided a special status to PSUs to enable them to expand in the global market.” Do you agree with the
given statement? Give valid reasons in support of your answer. 3

34 Read the following text carefully: Sustainable development is the development that meets the needs of the
present, without compromising the ability of future generations to meet their own needs. India is critical in
determining the success in a pursuit to achieve sustainable development. The Union Budget 2023 presented by
Finance Minister Nirmala Sitharaman builds on India’s commitment to lead the global action against climate change,
preserve biodiversity and support sustainable development. The government has accelerated the pace of Green
Growth as India is facing the grave reality of depleting natural resources, limited supply of water, minerals, and fossil
fuels. In a bid to counter the climate threat, India has committed to achieving net zero by 2070; released a low-
carbon development strategy; and introduced the concept of ‘LiFE’ (Lifestyle for Environment) to promote
responsible consumption. The Green Growth actions include several pointed measures that would facilitate the
much needed steady decarbonization of Indian industries, reduce dependency on fossil fuel imports and establish
technology and market leadership in this sunrise sector. For instance: The allocation of Rs 35,000 crore of priority
capital investment towards achieving net zero by 2070 and clean energy transition ensures the country’s energy
security. The outlay of Rs 19,700 crore for the Green Hydrogen Mission will mobilise a green hydrogen production
capacity of 5 metric million tonnes by 2030. Moreover, to encourage the optimal use of wetlands, enhance
biodiversity, carbon stock, eco-tourism opportunities and income generation for local communities, the Amrit
Dharohar scheme will be implemented over three years.

On the basis of the given text and common understanding, answer the following questions: (

i) Define sustainable development. 2

(ii) Briefly elaborate, any two reasons behind the objective of Green Growth being set up by the Indian Govt 4