NCERT Class 11 Economics Indian Economic Development Chapter 2 Indian Economy 1950–1990 Extra Questions and Answers
Class 11 Economics Indian Economic Development Chapter 2 Extra Inside Questions and Answers – Indian Economy 1950–1990. Here in this Page Class XI Students can Learn Extra Questions & Answer 2nd Chapter Economics Indian Economic Development fully Inside.
We Provided Here Indian Economy 1950–1990 Economics Indian Economic Development Chapter 2 Long Answer Type Question, MCQ Questions & Answer, Short Answer Type Questions (2 or 3 marks), and Very Short answer Type Question (1 marks) Solution.
Class 11 Economics Indian Economic Development Chapter 2 Inside based Question
Economics Indian Economic Development Chapter 2 Indian Economy 1950–1990 Class 11 Inside 5 Marks, 3 marks, 2 Marks & And 1 Marks Important Questions and Answers.
1.) The Planning Commission was set up..
(a) 1945
(b) 1950
(c)1956
(d) 1988
Ans – option (b)
2.) The goals of five year plans
(a) modernisation
(b) growth
(c) equity
(d)All of the above
Ans – option (d)
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3.) The steady increase in theGross Domestic Product (GDP) it is feature of.
(a) Growth
(b) equity
(c) modernisation
(d)None of the above
Ans – Option (a)
4.) The low productivity ofthe agricultural sector forced India toimport food from the
(a)United States of America (U.S.A.)
(b) China
(c)Japan
(d) None of the above
Ans -Option (a)
5.) ……….was policy topromote equity in the agricultural sector.
(a) Land reform
(b) Land ceiling
(c) Land
(d)None of the above
Ans – Option (b)
6.) In…… … the government introduced a new economic policy
(a) 1991
(b) 1892
(c) 1990
(d)1993
Ans -option (a)
1.) What is mean by modernisation?
Ans –To increase the production of goods and services the producers have to adopt new technology. For example, a farmer can increase the output on the farm by using new seed varieties instead of using the old ones. Similarly, a factory can increase output by using a new type of machine. Adoption of new technology is called modernisation.
2 ) What is mean by marketed surplus?
Ans – Growth in agricultural output is important but it is not enough. If a large proportion of this increase is consumed by the farmers themselves instead of being sold in the market, the higher output will not make much of a difference to the economy as a whole. If, on the other hand, a substantial amount of agricultural produce is sold in the market by the farmers, the higher output can make a difference to the economy. The portion of agricultural produce which is sold in the market by the farmers is called marketed surplus
3.) What should be the role of the government and the private sector in industrial development?
Ans -At the time of independence, Indian industrialists did not have the capital to undertake investment in industrial ventures required for the development of Indian economy; nor was the market big enough to encourage industrialists toundertake major projects even if they had the capital to do so. It is principally for these reasons that the erstwhile governments had to play an extensive role in promoting the industrial sector.In addition, the decision to develop the Indian economy on socialist lines led to the policy of the government controlling the commanding heights of the economy, as the Second Five Year plan put it. This meant that the government would have complete control of those industries that were vital for the economy. The policies of the private sector would have to be complimentary to those of the public sector, with the public sector leading the way.
4.) Explain the classification of Industries as per industrial resolution policy..
Ans -The industrial resolution policy classified industries into three categories. The first category comprised industries which would be exclusively owned bythe government; the second category consisted of industries in which the private sector could supplement the efforts of the public sector, with the government taking the sole responsibility for starting new units;the third category consisted of the remaining industries which were to be in the private sector.
5.) Explain the trade policy.
Ans –The industrial policy that India adopted was closely related to the trade policy. In the first seven plans, trade was characterised by what is commonly called an inward looking trade strategy. Technically, this strategy is called import substi- tution. This policy aimed at replacing or substituting imports with domestic production. For example, instead of importing vehicles made in a foreign country, industries would be encouraged to produce them in India itself. In this policy the government protected the domestic industries from foreign competition. Protection from imports took two forms: tariffs and quotas. Tariffs are a tax on imported goods; they make imported goods more expensive and discourage their use. Quotas specify the quantity of goods which can be imported. The effect of tariffs and quotas is that they restrict imports and, therefore, protect the domestic firms from foreign competition.
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