This document discusses macroeconomic policies and how the economic environment shapes economic planning. It differentiates between economic growth and development, discusses the mixed economy framework in India, and how exchange rates impact a country's balance of payments. It also asks how the 1991 economic reforms met objectives of equity and justice, and to write short notes on trade unions, public accountability, and administered prices.

1. MS-03 Economic and Social Environment
1. Discuss the critical elements of macro-economic policies. How economic
environment gives a direction to the changes in the economic planning?
2. Differentiate between Economic Growth and Economic Development. Why is
growth and development synonymously used in economic discussion?
3. Discuss the genesis of mixed economy framework in India.
4. “An important factor which influences the Balance of Payment of an economy is
the exchange rate of its currency vis-à-vis other major currencies”. Explain the
statement given above.
5. How the twin objective of equity and justice was met by the economic reforms of
1991?Explain.
6. Write short notes on the following:
(i) Trade Union Movement
(ii) Public Accountability
(iii) Administered prices
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