| Directions: In each of the given questions an inference is given in bold which is then followed by three statements. You have to find the statement(s) from where it is inferred. Choose the option with the best possible outcome as your choice. |
| Funding alone is not important for growth and productivity. |
| (I) India plans to pump in over Rs. 10,000 crore to build 20 world-class higher education institutions. |
| However, for knowledge to translate into a wealthy society, we need to do more than just this; we need to create a conducive knowledge ecosystem, which is currently missing from our national plans. Institutions of higher education help in creating such an ecosystem, and improve a nation's productivity and wealth. |
| (II) By the 1960s, American economists such as Kenneth Arrow and Robert Solow had begun to notice that growth and productivity could not be explained only by capital and labour. This differential they attributed to the knowledge content of an economy. Today, knowledge-intensive and high-technology industries contribute the most to long-term growth. It is no accident that the US accounts for 33% of global output of knowledge-intensive services, China 10%, but India only 2%. In high-technology manufacturing, India barely exists. |
| (III) It is here that institutions step in. The creation of a knowledge ecosystem that allows for robust institutions that focus on information gathering, planning, research, teaching, credit supply, and ensuring that people are filled with hope rather than derision for the society in which they live will make a society wealthier. Institutions can generate an ecosystem for innovation in many ways: by providing access to knowledge capital, an atmosphere of inquiry, and an experimental environment where those ideas can be tested. Given that the success rate of ideas is rather low, ideas need to be tested constantly. Funding enters the picture only after all this is done. |
A) Only (I)
B) Only (II)
C) Both (I) and (III)
D) Both (II) and (III)
E) All (I), (II) and (III)
Correct Answer: E
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