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In a capitalist economy, the central problems are solved through:
Under which economic system are the means of production owned, controlled and operated by the government?
In a mixed economy, the central problems are solved by:
Read the following statements: Assertion (A) and Reason (R). Choose the correct option given below. **Assertion (A):** In a socialist economy, the government decides what to produce in accordance with the needs of the society. **Reason (R):** Distribution under socialism is based on what people need and not on what they can afford to purchase.
Which of the following is NOT a central problem of an economy?
In a capitalist economy, goods are distributed among people on the basis of their:
Read the following statements: Assertion (A) and Reason (R). Choose the correct option given below. **Assertion (A):** The capitalist economic system did not appeal to Jawaharlal Nehru. **Reason (R):** Under the capitalist system, there would be fewer chances for improvement in the quality of life of the majority of people.
India adopted which type of economic system after independence?
The central problem of 'how to produce' involves deciding:
In a socialist economy, the central problem of 'for whom to produce' is solved on the basis of:
'What to produce' in a capitalist economy is determined by:
Read the following statements carefully: **Statement I:** In a capitalist economy, goods are produced using cheaper techniques of production. **Statement II:** In a socialist economy, the government provides free health care to the citizens who need it. Choose the correct option from the following:
Who is known as the architect of Indian economic planning?
The Planning Commission was set up in the year:
In India, planning in the real sense began with the:
The Planning Commission was replaced by NITI Aayog in the year:
The Chairman of the Planning Commission was:
NITI Aayog stands for:
The concept of Five Year Plans in India was borrowed from:
P.C. Mahalanobis established which famous institution?
Read the following statements: Assertion (A) and Reason (R). Choose the correct option given below. **Assertion (A):** P.C. Mahalanobis is regarded as the architect of Indian planning. **Reason (R):** The Second Five Year Plan, which laid down the basic ideas regarding goals of Indian planning, was based on the ideas of Mahalanobis.
The duration of each Five Year Plan in India is:
A long-term plan covering a period of twenty years is called:
The Industrial Policy Resolution which assigned a leading role to the public sector was adopted in:
P.C. Mahalanobis is best remembered for which statistical measure?
Economic planning can be defined as:
The ex-officio Chairman of NITI Aayog is the:
Which of the following is NOT one of the four basic goals of Five Year Plans?
The first Five Year Plan was launched in the year:
Growth, in the context of Five Year Plans, refers to an increase in the country's capacity to:
A good indicator of economic growth, in the language of economics, is a steady increase in:
GDP refers to the market value of all the ________ produced in the country during a period of one year.
Read the following statements: Assertion (A) and Reason (R). Choose the correct option given below. **Assertion (A):** The policy of self-reliance was considered a necessity for India. **Reason (R):** It was feared that dependence on imported food supplies, foreign technology and foreign capital may increase foreign interference in the policies of our country.
Modernisation, as a goal of planning, includes:
Self-reliance under Indian conditions means:
The goal of 'Equity' in Five Year Plans aims to:
Which of the following is an indicator of economic growth?
By 1990, the share of which sector in GDP was the highest?
Read the following statements carefully: **Statement I:** Different goals are emphasised in different plans in India. **Statement II:** The planners have to ensure that the policies of the plans do not contradict the four basic goals. Choose the correct option from the following:
The last Five Year Plan of the Government of India was:
Equity, as a goal of planning, implies:
The first Five Year Plan period was:
'Structural Composition' of the economy refers to:
Read the following statements: Assertion (A) and Reason (R). Choose the correct option given below. **Assertion (A):** Modernisation requires a change in social outlook. **Reason (R):** A society will be more civilised and prosperous if it makes use of the talents of women in the workplace.
At the time of independence, approximately what percentage of the workforce was engaged in agriculture?
Disguised unemployment refers to a state in which:
Which of the following was a feature of Indian agriculture between 1950 and 1990?
Land reforms primarily refer to:
Land Ceiling refers to:
Read the following statements: Assertion (A) and Reason (R). Choose the correct option given below. **Assertion (A):** The Government took steps to abolish intermediaries and make tillers the owners of land. **Reason (R):** Ownership of land would give incentives to the actual tillers to make improvements and to increase output.
The purpose of land ceiling was to:
Abolition of intermediaries brought how many tenants into direct contact with the government?
Land reforms were most successful in which Indian states?
The abolition of intermediaries means:
Which of the following was NOT a problem of Indian agriculture between 1950 and 1990?
Subsistence farming is the practice of:
Read the following statements carefully: **Statement I:** The goal of equity was fully served by the abolition of intermediaries. **Statement II:** In some cases, tenants were evicted and zamindars claimed to be self-cultivators. Choose the correct option from the following:
Green Revolution refers to the large increase in production of food grains due to the use of:
Who is considered to be the 'Father of the Green Revolution' globally?
The Green Revolution in India was mainly founded by:
The High Yielding Varieties Programme was first adopted in India in which year?
In the first phase of the Green Revolution (mid-60s to mid-70s), the use of HYV seeds was primarily restricted to:
Read the following statements: Assertion (A) and Reason (R). Choose the correct option given below. **Assertion (A):** HYV seeds need heavy doses of chemical fertilizers to get the largest possible production. **Reason (R):** To derive benefit from HYV seeds, Indian farmers need reliable irrigation facilities and financial resources.
Marketable surplus refers to:
Which of the following is a merit of the Green Revolution?
The Government procured food grains to build a buffer stock. The buffer stock could be used:
Which of the following is a risk/demerit of the Green Revolution?
In the context of agriculture, subsidy means:
Read the following statements: Assertion (A) and Reason (R). Choose the correct option given below. **Assertion (A):** The government should continue with agricultural subsidies. **Reason (R):** Majority of the farmers are very poor and they will not be able to afford the required inputs without the subsidies.
Which of the following is an argument against agricultural subsidies?
According to some economists, subsidies should be phased out because:
Free electricity supply to farmers may lead to:
Read the following statements carefully: **Statement I:** When water is supplied free to farmers, they may cultivate water-intensive crops even in water-scarce regions. **Statement II:** Fertilizer and pesticide subsidies result in overuse of resources which can be harmful to the environment. Choose the correct option from the following:
Prices act as signals about the:
The proportion of GDP contributed by agriculture between 1950 and 1990:
Around what percentage of the country's population continued to be employed in agriculture till 1990?
At the time of independence, the variety of industries in India was:
At the time of independence, which two well-managed iron and steel firms existed in India?
The public sector was given a leading role in industrial development because of:
The Industrial Policy Resolution of 1956 formed the basis of which Five Year Plan?
According to the Industrial Policy Resolution 1956, Schedule A industries would be:
How many industries were included in Schedule A of the IPR 1956?
Read the following statements: Assertion (A) and Reason (R). Choose the correct option given below. **Assertion (A):** State had complete control over industries that were vital for the economy. **Reason (R):** The objective of equity and social welfare could be achieved only through direct participation of the state in industrialisation.
Schedule B of IPR 1956 included industries which would be:
Which of the following industries was included in Schedule A of IPR 1956?
Schedule C of IPR 1956 consisted of industries which were to be in the:
Industries in Schedule C were controlled by the state through:
An industrial licence is a written permission from the government to:
The Industries (Development and Regulation) Act was passed in the year:
According to the licensing policy, it was easier to obtain a licence if the industrial unit was established in:
Read the following statements: Assertion (A) and Reason (R). Choose the correct option given below. **Assertion (A):** Licence to expand production was given only if the government was convinced that there was a need for larger quantity of goods in the economy. **Reason (R):** The purpose of this policy was to keep private sector under control.
The Karve Committee (1955) recognised the possibility of using small-scale industries for:
A 'small-scale industry' is defined with reference to the:
Which of the following is a correct statement about small-scale industries?
Read the following statements carefully: **Statement I:** Small-scale industries cannot compete with big industrial firms. **Statement II:** The government reserved production of a number of products for the small-scale industry. Choose the correct option from the following:
After agriculture, which sector provides employment to the largest number of people in India?
Which of the following concessions was given to small-scale industries?
The trade strategy followed by India in the first seven plans was:
Import substitution refers to a policy of:
The basic aim of the import substitution policy was to:
Tariffs refer to:
Quotas refer to:
Read the following statements: Assertion (A) and Reason (R). Choose the correct option given below. **Assertion (A):** The policy of protection is based on the notion that industries of developing countries are not in a position to compete against goods produced by more developed economies. **Reason (R):** With protection, developing countries will be able to compete in the due course of time.
The policy of import substitution can serve which two definite objectives?
Which of the following is an argument against import substitution?
In 1950, India's share in the total world trade was:
The tariff on imported goods helps in:
The proportion of GDP contributed by the industrial sector increased from 11.8% in 1950-51 to:
The annual growth rate of the industrial sector during the first seven plans was:
Which of the following is an achievement of the industrial sector during 1950-1990?
Read the following statements: Assertion (A) and Reason (R). Choose the correct option given below. **Assertion (A):** Some domestic producers made no sincere efforts to improve the quality of their goods. **Reason (R):** Due to restrictions on imports, there was lack of competition from foreign producers.
One of the major drawbacks of the licensing policy was:
Some big industrialists would get a licence not to start a new firm but to:
According to some economists, the role of public sector should be limited to:
Which of the following sectors continued to be monopolised by the public sector during 1950-1990, which could be well handled by the private sector?
Read the following statements carefully: **Statement I:** Many public sector firms incurred huge losses but continued to function because of difficulty in closing a government undertaking. **Statement II:** According to some economists, public sector should be evaluated on the basis of its contribution to welfare of the people, not on the basis of the profits it earns. Choose the correct option from the following:
The New Economic Policy (NEP) was initiated in India in the year:
In the trade sector, India failed to develop a strong export sector because:
The need for reform of economic policy was widely felt in the context of:
Which of the following was a drawback of protection from foreign competition?
Read the following statements carefully : Statement 1 : The purchase of food grains made by the Government on the Minimum Support Price (MSP) is maintained as buffer stock. Statement 2 : Minimum Support Price safeguards the farmers against any sharp fall in farm product prices. In light of the given statements, choose the correct alternative from the following :
Identify the incorrect statement from the following :
Read the following statements carefully : Statement 1 : India announced its First Five Year Plan in 1951. Statement 2 : India, Pakistan and China adopted economic planning as the core development strategy. In light of the given statements, choose the correct alternative from the following :
(a) Explain briefly the rationale behind the 'License Raj' under the Industrial Policy Resolution, 1956. (b) Define Multilateral trade.
Discuss any two merits and demerits of the Green Revolution in the agricultural sector in the Indian economy.
Read the following statements : Assertion (A) and Reason (R). Choose the correct alternative from those given below. Assertion (A) : Post independence, public sector was given a prominent role, due to requirement of huge investments in the secondary sector. Reason (R) : Industrial sector is the backbone of any economy. Alternatives :
From the following alternatives, identify the correct full form of 'NITI' in NITI Aayog :
In a _________ economy, resources are owned and operated by both public and private sectors. (Choose the correct alternative to fill up the blank)
Read the following text carefully : With independence, India chose the closed economy model in pursuit of its objective of industrial self-sufficiency. As a result, industrial structure has become considerably important. In the post-independence era, the industrial growth was rapid during the first two decades, especially during the Second and Third Plan period. The Second Plan introduced 'Industrial Revolution' in the country. The main reasons for high rates of industrial growth witnessed during this period were due to : (i) Emphasis on industrialisation in economic policies. (ii) Making industrial growth the main objective in the industrial policy and planning. (iii) Huge investments being made to support capacity creation in the industrial sector. (iv) Growing demands for a variety of new products on the part of the urban consumers and the relatively better-off sections of the society. (v) Pace of economic expansion supported by domestic savings and inflow of resources from abroad. On the basis of the given text and common understanding, answer the following questions : (a) State the time period of the Second Five Year Plan of India. (b) Who is considered as the Father of the Second Five Year Plan of India ? (c) Discuss briefly any two reasons behind the industrial growth during the Second and Third Five Year Plans of India.
In a __________ economy, resources are owned and operated by both public and private sectors. (Choose the correct alternative to fill up the blank)
In a ________ economy, resources are owned and operated by both public and private sectors. (Choose the correct alternative to fill up the blank)
Read the following text carefully : With independence, India chose the closed economy model in pursuit of its objective of self-sufficiency. As a result, industrial structure has become considerably important. In the post-independence era, the industrial growth was rapid during the first two decades, especially during the Second and Third Plan period. The Second Plan introduced 'Industrial Revolution' in the country. The main reasons for high rates of industrial growth witnessed during this period were due to : (i) Emphasis on industrialisation in economic policies. (ii) Making industrial growth the main objective in the industrial policy and planning. (iii) Huge investments being made to support capacity creation in the industrial sector. (iv) Growing demands for a variety of new products on the part of the urban consumers and the relatively better-off sections of the society. (v) Pace of economic expansion supported by domestic savings and inflow of resources from abroad. On the basis of the given text and common understanding, answer the following questions : (a) State the time period of the Second Five Year Plan of India. (b) Who is considered as the Father of the Second Five Year Plan of India ? (c) Discuss briefly any two reasons behind the industrial growth during the Second and Third Five Year Plans of India.
Identify, which of the following alternative is not associated with goals of economic planning in India.
In 1951, agricultural contribution to India's National Income was _________ . (Choose the correct alternative to fill up the blank)
(i) Explain the need and types of land reforms implemented in the agriculture sector. (ii) Why was public sector given a leading role in industrial development during the planning period ? Explain. (i) Explain the reasons why the industrial sector has performed poorly in the reform period. (ii) Distinguish between the Bilateral and Multilateral trade.
In 1951, agricultural contribution to India's National Income was __________ . (Choose the correct alternative to fill up the blank)
In the first phase of Green Revolution, output was restricted mainly to ______. (Choose the correct alternative)
______ is known as the architect of Indian Planning.
Elaborate the reasons owing to which the private sector was regulated under the Industrial Policy Resolution, 1956. "During the colonial period the agricultural sector showed massive stagnation." Do you agree with the given statement ? Justify your answer with valid arguments.
Modernization is an important economic planning objective that focuses on _____________. (Choose the correct alternative to fill in the blank) (i) Adoption of innovative technology (ii) Equal distribution of income and wealth (iii) Bringing positive changes in the social outlook Alternatives :
Read the following text carefully : India's industrial policy since independence has been shaped broadly in terms of the Industrial Policy Resolution of 1948. It emphasized on the sole responsibility of the government in the matter of promoting, assisting and regulating the development of industries in the national interest. It envisaged an active and dominant role of public sector. The next Industrial Policy Resolution was placed before the Parliament by the Prime Minister on 30th April, 1956. It suggested that, "There is a need for adoption of the socialist pattern of economy as the national objective, along with the need for planned and rapid development. It required that all industries of basic and strategic importance, or in public utility services, should be in the public sector. Other industries which are essential and require investment on a massive scale (which only the State could provide) have also to be in the public sector. Thus, the State has to assume direct responsibility for the future development of industries." This Resolution classifies industries into three categories : - The first category given in Schedule A, consists of industries the future development of which will be the exclusive responsibility of the State. - In the second category given in Schedule B, are industries which will be progressively State-owned. However, in them, private enterprise will also be expected to participate. - The third category comprises all the remaining industries, the further development of which will be left to the initiative and enterprise of the private sector. On the basis of the given text and common understanding, answer the following questions : (i) "The Government of India, in the initial years of economic development, emphasized on a greater role of the public sector in the industrial development." Justify the statement, giving reasons in support of your answer. (ii) Outline and discuss the classification of industries into various categories as per Industrial Policy Resolution, 1956.
Modernization is an important economic planning objective that focuses on ______________. (Choose the correct alternative to fill in the blank) (i) Adoption of innovative technology (ii) Equal distribution of income and wealth (iii) Bringing positive changes in the social outlook Alternatives :
Read the following statements carefully : Statement 1 : Land ceiling was one of the Government policies to promote equity in the agriculture sector. Statement 2 : Land reforms resulted in abolition of the Zamindari system in the post independence period. In light of the given statements, choose the correct alternative from the following :
Discuss any two salient features of Indian industrial sector during the period of 1950 – 1990. Describe any two purposes for the founding of World Trade Organisation (WTO) in 1995.
(i) "India's inward looking trade policy during the post independence period was well supported by various tariff and non-tariff barriers." Do you agree with the given statement ? Justify your answer with valid arguments. (ii) "Navratna policy has facilitated the maintenance, promotion and disinvestment of Public Sector Undertakings (PSUs)." Justify the given statement with valid explanation. (i) "Every coin has two sides — debate over farm subsidies is one such a classic example of the same." Justify the given statement with two arguments each in favour of and against the continuation of the farm subsidies. (ii) "Suez Canal was used as a highway between India and Britain." Justify the given statement with valid arguments.
Goals of Equity was fully served by 'abolition of the intermediaries' in agriculture in the post-independence period of India. Do you agree with given statement ? Support your answer with valid arguments.
Discuss briefly the rationale behind adopting 'modernization' as a planning objective for the Indian Economy. "Farm subsidies put a huge burden on the government finances, but are necessary for the poor and marginal farmers." Justify the given statement.
Discuss briefly the rationale behind adopting 'Self Reliance' as a planning objective for the Indian Economy. "Farm subsidies put a huge burden on the government finances, but are necessary for the poor and marginal farmers." Justify the given statement.
After independence, the rationale behind choosing Modernization as a planning objectives for the Indian economy were _______. I. To bring positive changes in the social outlook II. Equitable distribution of income III. Technological Upgradation IV. Increase in Economic Divide Alternatives :
After independence, the rationale behind choosing Modernization as a planning objectives for the Indian economy were ______. I. To bring positive changes in the social outlook II. Equitable distribution of income III. Technological Upgradation IV. Increase in Economic Divide Alternatives :
(i) "Direct and active participation of state was considered essential in Industrial development process in period 1950-1990." Justify the given statement with valid explanation. (ii) "New Economic Policy 1991 altered the role of Reserve Bank of India (RBI) in the economy." Justify the given statement with valid explanation. (i) Explain the changes that were observed in India's occupational structure during the British rule. (ii) "Navratan Policy of the government has helped in improving the performance of Public Sector Undertakings in India." Do you agree with the given statement ? Justify your answer with valid arguments.
From the terms given below in Column-I and Column-II, choose the correct pair of statements :
Study the following image carefully : Identify, the trade practice that has successfully replaced foreign goods with domestic production. _______ refers to a trade policy aimed at reducing reliance on imported goods by encouraging domestic production.
Describe briefly a rationale behind choosing 'Self-reliance' as a planning objective for the Indian economy. Explain how, Goods and Services Tax (GST) has simplified the multiplicity of taxes on goods and services.
Study the following image carefully : Identify, the trade practice that has successfully replaced foreign goods with domestic production. ______ refers to a trade policy aimed at reducing reliance on imported goods by encouraging domestic production.
Study the following image carefully : Identify, the trade practice that has successfully replaced foreign goods with domestic production. ________ refers to a trade policy aimed at reducing reliance on imported goods by encouraging domestic production.
Read the following statements : Assertion (A) and Reason (R). Choose one of the correct options given below : Assertion (A) : Under the land reforms, Indian government fixed the minimum land size which could be owned by an individual. Reason (R) : The purpose of land ceiling was to avoid the concentration of land ownership in a few hands.
(i) "To promote green revolution, the Indian government provided fertilizer subsidies to the farmers." Briefly explain any two arguments in favour of such subsidies. (ii) As per a news report dated, 8th Oct. 2021, the Government of India sold its entire 100% stake in Air India. Tata sons, the original founder of Air India won the bid and purchased the airline for Rs. 18,000 crore. (1) Identify the step taken by the Government of India. (2) State any two ways in which identified step can be executed by the government. (i) "After 1991, reforms in external sector led to an increase in foreign exchange inflows". Justify the given statement with valid argument. (ii) "During the planning period, public sector was given a dominant role in Indian Economy." Justify the rationale behind this step taken by the Government of India.
In the post-independence era, the policy makers of India pushed for 'self-reliance' for the first __________ Five Year Plans. (Choose the correct option to fill in the blank)
In the post-independence era, the policy makers of India pushed for 'self-reliance' for the first _________ Five Year Plans. (Choose the correct option to fill in the blank)
In the post-independence era, the policy makers of India emphasised on 'self-reliance' for the first ________ Five Year Plans. (Choose the correct option to fill in the blank)
(i) "Import substitution policy, if not applied carefully, can be a double-edged sword for any economy." Do you agree with the given statement ? Justify your answer with valid arguments. (ii) State how multilateral trade is different from bilateral trade. (i) Discuss briefly, causes and consequences of the tax reforms initiated during economic reforms in India. (ii) Give one example each of a Navratna and a Maharatna company in the public sector in India.
In the post-independence era, the policy makers of India emphasised on 'self-reliance' for the first __________ Five Year Plans. (Choose the correct option to fill in the blank)
(i) "Import substitution policy, if not applied carefully, can be a double-edged sword for any economy." Do you agree with the given statement ? Justify your answer with valid arguments. (ii) State how multilateral trade is different from bilateral trade. (i) Discuss briefly, causes and consequences of the tax reforms initiated during economic reforms in India. (ii) State one example each of a Maharatna and a Miniratna company in the public sector in India.
"The Indian Government adopted a policy of fixing maximum land holding limit (ownership) for an individual." It is commonly known as __________. (Choose the correct option to fill in the blank)
Modernization is an important economic planning objective that focuses on __________. (Choose the correct option to fill in the blank) (i) Adoption of innovative technology (ii) Bringing positive change in social outlook (iii) Equal distribution of income and wealth (iv) Abolition of intermediaries
State and explain any two steps undertaken by the Government of India for the protection and promotion of Small-scale Industries between 1950 – 1990. Elaborate the role of land ceiling as an institutional reform in agricultural sector during the planning period of India.
Study the following image carefully : (a mind-map with `Green Revolution' at the centre linked to `Tractors and Threshers', `HYV Seeds', `Financial Assistance' and one blank circle) Identify, which of the following factors is an essential requirement for the implementation of Green Revolution. (Choose the correct alternative)
(i) ``Modernisation extends beyond just the implementation of new technology.'' Justify the given statement, focusing on the economic planning goals. (ii) ``Economic reforms of 1991 changed the structure of the financial sector in India to a large extent.'' Justify the given statement, highlighting any two reforms introduced in the financial sector. (i) "Subsidies in the agriculture sector have been a debated question for long." Validate the argument that subsidies should be gradually phased out in the agriculture sector. (ii) ``The regime of quantitative restrictions followed by the government during the economic planning period was reversed in post-trade reforms era. Do you agree with the given statement ? Give valid reasons in support of your answer.
Study the following image carefully : Identify, which of the following factors is an essential requirement for the implementation of Green Revolution. (Choose the correct alternative)
(i) ``The Industrial Policy Resolution 1956, gave primacy to the government, making it responsible for the industrial development.'' Briefly outline the classification of industries into various categories. (ii) ``Economic reforms of 1991 failed miserably on the agricultural front.'' Justify the given statement, giving valid reasons in support of your answer. (i) "Subsidies in the agriculture sector have been a debated question for long." Validate the argument that subsidies should be gradually phased out in the agriculture sector. (ii) Define `liberalisation'. State any two liberalisation reforms introduced in the fiscal sector.
Study the following image carefully : [Image: a central circle labelled `Green Revolution' linked to four surrounding circles — `Tractors and Threshers', `HYV Seeds', `Financial Assistance', and one blank circle.] Identify, which of the following factors is an essential requirement for the implementation of Green Revolution. (Choose the correct alternative)
(i) ``During the planning period, a roadmap was drawn for the development of the public sector with an objective to achieve self-reliant economic growth.'' Defend or refute the given statement, giving valid reasons in support of your answer. (ii) Define `globalisation'. State and discuss any one advantage of globalisation. (i) ``In 1955, the Karve Committee noted the possibility of using small-scale industries for promoting rural development.'' Briefly discuss the basis behind the need for promoting small-scale industries. (ii) Define `Land Ceiling'. List any two hurdles that were faced in the implementation of land reforms.
Read the following text carefully and answer the questions given below : "In India, high-yielding seed varieties were initially brought to the State of Punjab, Haryana and portions of western Uttar Pradesh." (i) Identify the approach initiated by Indian Government in 1966. (ii) State the primary goal of this approach. (iii) Describe any two impacts of this approach. Read the following text carefully and answer the questions given below : "It is an arrangement in which a firm hires some specialized firm(s) to carry out some of its activities (which were earlier being performed by itself). These service hirings could be from local / international markets." (i) Identify the indicated outcome of the globalisation process. (ii) State any two factors responsible for making India as an important source of these activities. (iii) Explain examples of services that have expanded due to advancements in information technology.
"In the post-independence era (1950 – 90s), industrial development in India accelerated the rate of economic development." Justify the given statement with valid reasons.
"Green Revolution has made India self-reliant with respect to food grains production." Justify the given statement with valid arguments.
Which of the following is not an advantage of Green Revolution ?
(i) Explain briefly the rationale behind the 'License Raj' under the Industrial Policy Resolution, 1956. (ii) Explain disinvestment. "In the post-independence era, India adopted a protective tariff policy." Do you agree with the given statement ? Justify your answer with any two valid arguments.
___________ was set up by the Government of India in 1950 to formulate plans for the most effective and balanced utilisation of resources. (Choose the correct option to fill in the blank)
Explain the Planning objective of "Growth with Equity".
(i) "The Industrial Policy Resolution (IPR), 1956 classified all the industries based on state ownership and control in various categories." Do you agree with the above statement ? Give valid reasons in support of your answer. (ii) "The economic reforms of 1991 adversely affected the Indian agriculture sector." Do you agree with the above statement ? Give valid reasons in support of your answer. (i) "The Government of India may further divest its stake in Life Insurance Corporation (LIC) in the current financial year." In the light of economic reforms since 1991, identify the policy and define the step taken by the government. (ii) "India adopted an inward-looking trade strategy during the planning period." (I) State any two reasons behind the adoption of this policy. (II) Briefly describe any two ways in which the government implemented this policy.
(i) "During the post-independence era till 1990s, India's inward-looking trade policy was supported by various trade barriers." Do you agree with the given statement ? Give valid explanation in support of your answer. (ii) The 'Atmanirbhar Bharat Initiative' carries forward the same spirit of self-reliance, which was adopted by the Government after 1947. In the light of the given statement, explain why self-reliance was considered as an important planning objective after independence. (i) The New Economic Policy (NEP) of 1991 took stabilisation measures and structural measures to correct the prevailing situations. Briefly discuss these measures. (ii) "The Industrial Policy Resolution (IPR), 1956 classified all the industries based on state ownership and control in various categories." Do you agree with the above statement ? Give valid reasons in support of your answer.
(i) "The Industrial Policy Resolution (IPR), 1956 classified all the industries based on state ownership and control in various categories." Do you agree with the above statement ? Give valid reasons in support of your answer. (ii) The 'Atmanirbhar Bharat Initiative' carries forward the same spirit of self-reliance, which was adopted by the Government after 1947. In the light of the given statement, explain why self-reliance was considered as an important planning objective after independence. (i) "The Government of India may further divest its stake in Life Insurance Corporation (LIC) in the current financial year." In the light of economic reforms since 1991, identify the policy and define the step taken by the government. (ii) "India adopted an inward-looking trade strategy during the planning period." (I) State any two reasons behind the adoption of this policy. (II) Briefly describe any two ways in which the government implemented this policy.
From the terms given below in Column-I and Column-II, choose the correct pair of statements : Column-I | Column-II (i) Subsidies | (a) Maximum quantity of goods that can be imported (ii) Land ceiling | (b) Element of IPR 1956 (iii) Small Scale Industries | (c) Land to the tiller (iv) Modernisation as a goal of five year plan | (d) Change in social outlook
(i) Emphasis on industrialisation in economic policies. (ii) Making industrial growth the main objective in the industrial policy and planning. (iii) Huge investments being made to support capacity creation in the industrial sector. (iv) Growing demands for a variety of new products on the part of the urban consumers and the relatively better-off sections of the society. (v) Pace of economic expansion supported by domestic savings and inflow of resources from abroad. On the basis of the given text and common understanding, answer the following questions : (a) State the time period of the Second Five Year Plan of India. (b) Who is considered as the Father of the Second Five Year Plan of India ? (c) Discuss briefly any two reasons behind the industrial growth during the Second and Third Five Year Plans of India.
On the basis of the given text and common understanding, answer the following questions : (i) "The Government of India, in the initial years of economic development, emphasized on a greater role of the public sector in the industrial development." Justify the statement, giving reasons in support of your answer. (ii) Outline and discuss the classification of industries into various categories as per Industrial Policy Resolution, 1956.
(i) Identify the approach initiated by Indian Government in 1966. (ii) State the primary goal of this approach. (iii) Describe any two impacts of this approach. Read the following text carefully and answer the questions given below : "It is an arrangement in which a firm hires some specialized firm(s) to carry out some of its activities (which were earlier being performed by itself). These service hirings could be from local / international markets." (i) Identify the indicated outcome of the globalisation process. (ii) State any two factors responsible for making India as an important source of these activities. (iii) Explain examples of services that have expanded due to advancements in information technology.