Welcome to the NCERT Solutions for Class 11 Economics - Indian Economic Development - Chapter Indian Economy 1950-1990. This page offers a step-by-step solution to the specific question from Exercise 1, Question 18: . With detailed answers and explanations for each chapter, students can strengthen their understanding and prepare confidently for exams. Ideal for CBSE and other board students, this resource will simplify your study experience.
Why and how was the private sector regulated under the IPR 1956?
IPR 1956 was adopted in order to accomplish the aim of state controlling the commanding heights of the economy. This policy was aligned with the Indian economy's inclination towards socialist pattern of the Soviet Union. According to this resolution, industries were classified into following three categories:
Category 1: Those industries that are established and owned exclusively by the public sector.
Category 2: Those industries in which the public sector will perform the primary role while the private sector will play the secondary role. That is, the private sector supplements the public sector in these industries.
Category 3: Those industries that are not included in Category 1 and Category 2 are left to the private sector. These industries that were left to the private sector, the government owns an indirect control by the way of license. In order to initiate a new industry, private entrepreneurs should obtain a license (or permit) from the government. By a licensing system, tax holidays and subsidies allow the government to promote industries in a backward region that will ,in turn, promote the welfare and development of that region. This was supposed to reduce regional disparities. Further, in order to expand the scale of production, the private sector needs to obtain a license from the government. This was supposed to keep a check on the production of goods that are socially undesirable and unwanted. Hence, the state fully controlled the private sector either directly or indirectly.
Match the following:
|
1. Prime Minister 3. Quota 4. Land Reforms 5. HYV Seeds 6. Subsidy |
A. Seeds that give large proportion of output C. Chairperson of the planning commission D. The money value of all the final goods and services produced within the economy in one year. E. Improvements in the field of agriculture to increase its productivity F. The monetary assistance given by government for production activities. |
NCERT questions are designed to test your understanding of the concepts and theories discussed in the chapter. Here are some tips to help you answer NCERT questions effectively:
Stay updated with our latest educational content and study tips
One of the challenging things students face nowadays is procrastination. It hinders productivity, making it difficult for students to score well. We often associate procrastination as just being lazy. But there’s more to it. Various studies have shown that procrastination stems from negative feelings such as stress and anxiety. Oftentimes, when we start, we think […]
Read MoreThe CBSE Board Exam is a crucial milestone for millions of students across India. The Central Board of Secondary Education is famous for its imparting quality education and knowledge which reaches out to a large share of students. Also, it is important to know that, the CBSE board takes a slight unconventional route, since it […]
Read MoreHaryana government issued a notification on 31st December 2024 through its Gazette notification No. 42/119/2019-5HR-II for CET Haryana 2024. The Common Eligibility Test (CET) for Haryana is a significant opportunity for candidates seeking government jobs in Group C and Group D posts. Below is a comprehensive summary of the key information you need to know […]
Read MoreSacrificing your sleep to study more is doing more damage than you think. While it may seem like utilizing every hour of the day for study leads to better outcomes, the reality is quite the opposite. Lack of proper rest can negatively impact your brain, especially when it comes to sleep and memory retention. You’ll […]
Read MoreWelcome to the NCERT Solutions for Class 11 Economics - Indian Economic Development - Chapter . This page offers a step-by-step solution to the specific question from Excercise 1 , Question 18: Why and how was the private sector regulated under the IPR 1956?....
Add Comment