Human Resource Management

• Government Tax Revenue Composition:
• In recent fiscal years (Union Budget 2023-24 and 2024-25 Revised/Actual estimates), Income Tax (Personal Income Tax) has emerged as the largest single gross tax revenue stream for the Central Government, collecting over ₹10.4 lakh crore and surpassing Corporation Tax (~₹9.2 lakh crore) and Union share of GST.
• Historically, Corporation Tax and Excise duties were predominant, but robust digitization, formalization of the economy, enhanced TDS coverage, and buoyant individual earnings propelled Personal Income Tax to the premier position among gross tax sources.
• Distractors: Customs duties and Union Excise duties contribute significantly smaller percentages of central tax collections compared to direct taxes and GST.

Correct option: (1) Income tax

• Odd Man Out by Organizational Policy and Mandate:
• DMI (Directorate of Marketing and Inspection): An attached statutory government regulatory office under the Ministry of Agriculture and Farmers Welfare (Government of India). Its mandate centers on enforcing agricultural marketing regulations, quality certification (AGMARK), grading standards under the Agricultural Produce (Grading and Marking) Act, 1937, and market intelligence.
• Distractors:
• APEDA (Agricultural and Processed Food Products Export Development Authority) and MPEDA (Marine Products Export Development Authority): Statutory autonomous export promotion and development authorities under the Ministry of Commerce and Industry.
• NAFED (National Agricultural Cooperative Marketing Federation of India): An apex multi-state cooperative marketing federation engaged in commercial procurement and price stabilization.

Correct option: (3) DMI

• Start of Globalization in the Indian Economy:
• India initiated comprehensive economic globalization in 1991 with the launch of the New Economic Policy (NEP), unveiled by Prime Minister P.V. Narasimha Rao and Union Finance Minister Dr. Manmohan Singh in July 1991.
• Sparked by the 1991 balance-of-payments crisis, the reforms dismantled the restrictive License-Permit-Quota Raj, dismantled quantitative import restrictions, reduced peak customs tariffs, opened sectors to Foreign Direct Investment (FDI), and pegged the rupee to market-determined exchange rates (LPG paradigm).
• Distractors: Years 1981, 1985, and 1995 represent unrelated milestones (1985 saw modest industrial de-licensing; 1995 marked India joining the WTO as a founding member).

Correct option: (3) 1991