Why did India opt for planning?
Soon after independence, India faced an important choice to opt either for capitalism or socialism. Finally, India, inspired by the extraordinary success of planning in Soviet Union, opted for socialism. Although, Indian political and economic conditions were not as favourable as it was for Soviet Unions to opt for socialism, yet India adopted socialism but with a difference. India hinged upon the socialist idea with a strong emphasis on the public sector and active participation of the private sector in a democratic framework. The Planning Commission (1950) was established with the motive that the government would undertake comprehensive planning for the nation as a whole, where the public sector would lay down the basic economic framework and would encourage the private sector for their active contribution to economic growth.
Popular Questions of Class 11 Economics - Indian Economic Development
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Compare and contrast the development of India, China and Pakistan with respect to some salient human development indicators.
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How is RBI controlling the commercial banks?
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Explain the steps taken by the government in developing rural markets.
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What are the functions of the environment?
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Distinguish between the following
(i) Strategic and Minority sale
(ii) Bilateral and Multi-lateral trade
(iii) Tariff and Non-tariff barriers. - Q:-
Why was the public sector given a leading role in industrial development during the planning period?
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Match the following:
1. Prime Minister
2. Gross Domestic Product3. Quota
4. Land Reforms
5. HYV Seeds
6. Subsidy
A. Seeds that give large proportion of output
B. Quantity of goods that can be importedC. 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.
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Infrastructure contributes to the economic development of a country. Do you agree? Explain.
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Find the odd man out (i) owner of a saloon (ii) a cobbler (iii) a cashier in Mother Dairy (iv) a tuition master (v) transport operator (vi) construction worker.
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Highlight any two serious adverse environmental consequences of development in India. India’s environmental problems pose a dichotomy — they are poverty induced and, at the same time, due to affluence in living standards — is this true?
Recently Viewed Questions of Class 11 Economics - Indian Economic Development
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Identify the benefits and limitations of organic farming.
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Education is considered to be an important input for the development of a nation. How?
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India has abundant natural resources —substantiate the statement.
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Explain the role of micro-credit in meeting credit requirements of the poor.
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Discuss the importance of credit in rural development.
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Critically appraise some of the shortfalls of the industrial policy pursued by the British colonial administration.
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Why are regular salaried employees more in urban areas than in rural areas?
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What do you understand by the drain of Indian wealth during the colonial period?
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What is a ‘global burden of disease’?
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Explain the steps taken by the government in developing rural markets.
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