Indian Economy 1950-1990

India followed a planned economy from the time of independence. Consider the following statements:
1. India’s plans were of five years and lacked a perspective approach.
2. Directive principles of Indian constitution reflect the planned outlook of India.
3. Our five year plans do not spell out how much Explanation: of each and every good and service is to be produced.
Select the correct statements using the options given below:

India embarked upon a planned and ‘ mixed ’ economic model after the independence. Which of the following best describes the mixed economic model?

Which of the following was/were not among the explicit objective(s) of Five Year Plans (FYPs) in India?
1. To facilitate growth of Indian economy.
2. Modernisation of Indian industry and overall economy.
3. Achieving self-reliance.
4. Equity in socitety.
Choose the correct answer using the options given below:

Consider the following statements:
1. The second Five Year Plan (FYP) was largely based on the Mahalanobis ideas and hence, was called “Mahalanobis Plan’.
2. Mahalanobis Is also credited with the achievement of publishing journal \’Sankhya’.
The correct statement(s) is/are:

Consider the following statements:
1. Under land ceiling in post independence land reforms policies, the land ownership limitation was fixed on Individual basis.
2. Land reform policies were most successful in the western Indian states due to lesser number of landless people as compared to other states.
The correct statement is/are:

Consider the following statements:
1. At the time of independence, more than 90 per cent of the country’s population was dependent on agriculture.
2. Productivity in the agricultural sector was very low because of the lesser extent of net sown area.
The correct statement is/are:

Consider the following statements with reference to Green Revolution:
1. Though Green Revolution helped India to become self-sufficient in food production, it could not make India a net agricultural export country in food grains yet.
2. In the first phase of the Green Revolution (mid 1960s-mid 1970s), the use of HYV seeds was kept restricted to the more affluent states only.
3. The introduction of HYV seeds during Green Revolution made Indian agriculture more vulnerable to pest attacks.
The correct statement(s) is/are:

Consider the following statements:
1. Industries Policy Resolution, 1956 classified industries into three categories .
2. Under this policy resolution, no industry was allowed to run by the private sector without any kind of government control.
The correct statement(s) is/are:

Consider the following statements with reference to small scale industries in post-independence India:
1. The small-scale industries were completely ignored.
2. Many incentives and safeguards such as lower excise duty and bank loans at lower Interest rates etc. were provided to small scale industries.
The correct statement(s) is/are:

Consider the following statements:
1. In first seven Five Year Plans (FYPs), trade policy aimed at substituting imports with domestic production.
2. Tariffs and quotas were used extensively as economic policy tool to protect the domestic industries from foreign competition.
3. It was assumed that the domestic industries needs protection since they will never be able to compete with foreign industries.
Choose the correct answer using the options given below:

Consider the following statements:
1. The share of industrial sector to the GDP increased significantly from 12.4% in 1950 to 35% in 1990-92.
2. Right from the beginning of the planned economy in 1956, a clear-cut distinction between what public sector should produce and what private sector can produce was made.
The correct statement(s) is/are:

Consider the following statements:
1. As a result of the economic policy pursued post-independence, the proportion of people depending on agriculture declined significantly.
2. All the private sector corporations during the first seven Five Year Plans (FYPs) were profitmaking while majority of PSUs were loss making.
The correct statement(s) is/are:

Karve Committee was constituted during formulation of Industrial Policy Resolution, 1956. The committee was concerned with:

Consider the following statements:
1. Post-independence, India followed an economic system where all the factories and farms in the country were owned by the government.
2. The ‘Industrial Policy Resolution’ of 1948 and the Directive Principles of the Indian Constitution reflects India\’s mixed economic status.
The correct statement(s) is/are:

Who of the following is credited with the achievement of establishing Indian Statistical Institute (ISI) in Calcutta?

Usually, as an economy progresses with development :

Which of the following was/were the objectives of land reform policies post-independence India?
1. To incentivise farmers to invest in land for greater productivity.
2. To promote equity in agriculture.
3. To unjust the historical injustice.
Choose the correct answer from the options given below:

Consider the following statements:
1. Subsidies are needed to encourage farmers to test the new technology.
2. Subsidies are found to encourage inequity in Indian agricultural sector.
The correct statement(s) is/are: