Tag: indian economy on the eve of independence

Questions Related to indian economy on the eve of independence

Identify the impact of British economic policies on Indian economy.

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. Low level of economic development

  2. agricultural backwardness

  3. Both a and b

  4. None of these

Show answer
Correct Option: C
Explanation:

 The colonial rule transformed India's agriculture sector to a mere supplier of raw materials for the British industries. This not only affected the production of the agricultural sector but also ruined the small manufacturing units like handicrafts and cotton industries. There was very minimal appreciation of the labor forces and compensation of the employees by the colonial regime therefore the workers motivation was very low, with low motivation the workers input will definitely go down low input will obviously lead to lower rates of industrials potential output therefore hindered .

Name some notable economists who estimated India's per capita income during the colonial period.

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. Dadabhai Naoroji

  2. William Digby

  3. VKRV Rao

  4. All the above

Show answer
Correct Option: D
Explanation:

Notable economists during colonial peiod who estimated India's per capita income are Dadabhai Naoroji, William Digby, Findlay Shirarras, V.K.R.V Rao and R.C. Desai.

Out of the following estimators whose estimation was nearly significant on per capita income during the British colonial period?

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. VKRV Rao

  2. William Digby

  3. RC Desai

  4. Findlay Shirras

Show answer
Correct Option: A
Explanation:

Vijayendra Kasturi Ranga Varadaraja Rao (8 July 1908 – 25 July 1991) was an Indian economist, politician and educator from Tamil Nadu. Rao applied pure scientific exercise in the estimation of National Income. This was his unique achievement at that time and gave credibility to his work over the years he became more and more assertive on the analytical limitations of inter-country comparisons of national and per capita income.

Identify the impacts of British colonial policies on Indian economy.

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. Deindustrialisation of Indian Economy

  2. Unfavourable Foreign Trade

  3. Lack of Irrigation facilities and resources

  4. Both a and b

Show answer
Correct Option: D
Explanation:

The colonial rule transformed India's agriculture sector to a mere supplier of raw materials for the British industries. This not only affected the production of the agricultural sector but also ruined the small manufacturing units like handicrafts and cotton industries. There was very minimal appreciation of the labor forces and compensation of the employees by the colonial regime therefore the workers motivation was very low, with low motivation the workers input will definitely go down low input will obviously lead to lower rates of industrials potential output therefore hindered .

The economic policies followed by the British led to the rapid transformation of India’s economy into a colonial economy whose nature and structure were determined by the needs of the British economy.

The exploitative policies of British government created a lopsided structure in the Indian Economy by reducing it to a supplier of raw material and consumer of finished industrial products imported from _____.

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. USA

  2. India

  3. Britain

  4. all of these

Show answer
Correct Option: C

Name the notable economists who estimated India's per capita income during the colonial period.

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. Dadabhai Naoroji

  2. Mahatama Gandhi

  3. M.C. Desai

  4. B. Reddy

Show answer
Correct Option: A
Explanation:

Dadabhai Naoroji was not satisfied with the official estimates regarding the national income of India during the British rule. “The Indian Economist” was the only journal which gave such knowledge in those days. Naoroji regarded this information regarding the country’s prosperity as insufficient and misleading. He was the one who estimated India's per capita income during the colonial period.

The Indian Economy was ________ in order to promote British industries.

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. boomed

  2. exploited

  3. inhanced

  4. none of the above

Show answer
Correct Option: B
Explanation:

The main focus of the economic policies pursued by the colonial government was to make India a mere supplier of raw materials for Britain's own industrial base which was undergoing rapid expansion. The Indian Economy was exploited in order to promote British industries.

The main focus of the economic policies pursued by the colonial government was to make India a ____________________. 

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. mere supplier of raw material for Britain's own industrial base

  2. mere supplier of goods for Britain's own industrial base

  3. mere supplier of human services for Britain's own industrial base.

  4. none of the above

Show answer
Correct Option: A
Explanation:

The main focus of the economic policies pursued by the colonial government was to make India a mere supplier of raw materials for Britain's own industrial base which was undergoing rapid expansion. The Indian Economy was exploited in order to promote British industries.

Hence, A is the correct option.

All economic progress gets neutralized against heavy population pressure.

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. True

  2. False

Show answer
Correct Option: A
Explanation:

All economic progress or rise in production in an economy gets neutralized because of population pressure as more population utilized the extra increase in production from the previous accounting year and hence the progress of the economy gets hindered.

India possesses huge natural resources but most of the resources are under-utilised.

economics indian economy on the eve of independence british colonial rule indian, capitalist and mixed economy development experience (1947-90)

  1. True

  2. False

Show answer
Correct Option: A
Explanation:

India consists of a vast variety of natural resources but most of the resources are under-utilized,that is, 'excess capacity' exists in the Indian economy and India still settles in the low level equilibrium trap.