Tag: indian economy on the eve of independence

Questions Related to indian economy on the eve of independence

Ever since Independence, India has relied on other countries for external assistance.(true / false)

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

  1. True

  2. False

  3. Cant say

  4. None of above

Show answer
Correct Option: A
Explanation:

External assistance is being defined as “all official resources which the recipient can use or otherwise benefit from in pursuit of its objectives', the terms official resources meaning, in this instance, “all loans, grants, technical assistance, guarantees or other assistance provided or committed under a binding. India has always relied on other countries for external assistance since independence.

Hence, the above statement is true.

Indian economy is ________.

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

  1. labour surplus

  2. going through a lean phase

  3. capital intensive

  4. labour deficient

Show answer
Correct Option: A
Explanation:

India is one of the most populous countries in the world. Labour is available at a high rate in India, thus, Indian economy is labour surplus and for production mechanism more labour intensive methods are used.

Which of the following statements is correct?

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

  1. Agriculture occupies $10$ per cent population of India.

  2. Nearly $5$ per cent population of India is below the poverty line.

  3. The production techniques used in India are backward.

  4. None of the above.

Show answer
Correct Option: C
Explanation:

The statement regarding production techniques is correct. The reason being that production techniques are backward in an underdeveloped economy. Others are incorrect because agriculture occupies $53.2$% (in $2009-10)$ population of India and nearly $29.8$% population of India is below the poverty line in $2009-10$.

The proportion of GDP contributed by the industrial sector increased in the period from 11.8 percent in 1950-51 to ____ percent in the year 1990-1991.

civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. 24.6 %

  2. 25.4 %

  3. 29.8 %

  4. 30.2 %

Show answer
Correct Option: A
Explanation:

The proportion of GDP contributed by the industrial sector increased in the period from 11.8 per cent in 1950-51 to 24.6 percent in the year 1990-1991.

The small-scale industrial committee which was passed in the year 1955 is also called as _________.

civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. Karve committee

  2. Swaran Singh committee

  3. Sri Krishna committee

  4. Kothari committee

Show answer
Correct Option: A
Explanation:

Small scale industrial committee was set up in the year 1955. It was also called a Karve committee. It was named after Dattatreya Gopal Karve who was an Indian economist and professor who contributed to the fields of economics, public administration, and the cooperative movement in India. Karve committee was set up in the year 1955 for the growth of small scale industries.

The goal of making the economy more market-oriented and expanding the role of private and foreign investment is called _________.

civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. globalization

  2. nationalization

  3. liberalization

  4. none of the above

Show answer
Correct Option: C
Explanation:

Economic liberalization of India was initiated in the year 1991. The main goal of liberalization is to make economy more market oriented with expanded role of private and foreign investment. The former prime minister P V Narasimha Rao spearheaded economic liberalization policies in the early 1990s.

As a result of the New Industrial Policy of 1991, ____________.

civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. The public sector has been stripped off all its power

  2. The public sector has been given the commanding heights of the economy

  3. The public sector's portfolio will be reviewed with greater realism. The focus will be on strategic high tech and essential infrastructure industries

  4. The public sector's management has been passed over to the private sector

Show answer
Correct Option: C
Explanation:

New Industrial Policy, 1991 aimed to liberalise the economy by removing the hurdles in industrial growth. An important step taken in this context is that the public sector's portfolio will be reviewed with greater realism. The focus will be on strategic high technology and essential infrastructure industries. This would improve the performance of the public sector units.

Thus, the correct answer is C.

Economic reforms of 1991 were introduced to ___________.

civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. Social structure of the country

  2. To demolish Zamindari system

  3. Maintain balance of payment

  4. All of these

Show answer
Correct Option: C
Explanation:

In 1991, India met with an economic crisis relating to its external debt. India approached the International Bank for Reconstruction and Development (IBRD)  and the International Monetary Fund (IMF). 

India agreed to the conditionalities of IBRD and IMF. On the basis of these conditions, Economic reforms of 1991 were introduced. These measures were introduced to maintain the balance of payment and to bring inflation under control.

The scientific discovery that was introduced in India to improve agricultural yield after independence is called _______.

civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. green revolution

  2. white revolution

  3. brown revolution

  4. blue revolution

Show answer
Correct Option: A
Explanation:

Scientific discovery that was introduced in India to improve agricultural yield after independence is called Green Revolution. It refers to a set of research technologies that led to improvement of food grain production drastically. It was introduced in 1960s. Dr. M.S.Swaminathan is known as father of green revolution in India.                                                  

Who among the following is the architect of the second plan and supporter of rapid industrialisation to play an active role of the public sector?

civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. Dr. B.R Ambedkar

  2. P. C. Mahalanobis

  3. Mahatma Gandhi

  4. None of these

Show answer
Correct Option: B
Explanation:

Second plan was in action from the year 1956 to 1961. The Second Plan was particularly in the development of the public sector and "rapid industrialisation". The architect of the second plan and supporter of rapid was P. C. Mahalanobis.