1.(a) Describe the 'Drain of Wealth Controversy' of late 19th century in detail.
(b) Describe a critical appraisal of Common Minimum Programme in detail.
(c) Describe the rationale of government subsidies to different categories of goods in developing countries. Is granting subsidies to non-merit goods necessary?
(d) Describe the role of State in economic development in developing countries in the context of globalisation and privatisation.
2. Write down suitable strategies for self-sustained employment generation in rural economy of developing countries. Do you think that proposed National Employment Guarantee Act is a model safety net for those without work?
3. Describe the role of the small- scale industries in economy? Describe briefly the major recommendations of Study Group on Development of Small Enterprises.
4. Write down the recommendations of Committee on Banking Sector Reforms (1998). What follow-up actions have been undertaken by Government for implementing these recommendations?