NCERT Solutions for Class 11 Economics Indian Economic Development Chapter 2

Unit I- Indian Economy 1950-1990 Class 11

Chapter 2 Unit I- Indian Economy 1950-1990 Exercise Solutions

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Exercise : Solutions of Questions on Page Number : 34

Q1 :  

Define a plan.


Answer :

A plan is a proposed list of goals that an economy wants to achieve within a specific period of time. It suggests the optimum ways to utilise the scarce available resources to achieve the enlisted goals. In India, planning is done for a period of five years, which is called five year plan. Plans have both specific and general goals. Some of the common goals are economic growth, modernisation, self-reliance and equity. Plans lay down the basic framework over which the policies are designed. Often various goals are conflicting to each other, for example, modernisation reduces labour employment. So there is a need to maintain a balance among different goals.

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Q2 :  

Why did India opt for planning?


Answer :

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 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 public sector would lay down the basic economic framework and would encourage private sector for their active contribution to the economic growth.

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Q3 :  

Why should plans have goals?


Answer :

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Q4 :  

What are miracle seeds?


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Q5 :  

What is marketable surplus?


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Q6 :  

Explain the need and type of land reforms implemented in the agriculture sector.


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Q7 :  

What is Green Revolution? Why was it implemented and how did it benefit the farmers? Explain in brief.


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Q8 :  

Explain 'growth with equity' as a planning objective.


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Q9 :  

Does modernisation as a planning objective create contradiction in the light of employment generation? Explain.


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Q10 :  

Why was it necessary for a developing country like India to follow self-reliance as a planning objective?


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Q11 :  

What is sectoral composition of an economy? Is it necessary that the service sector should contribute maximum to GDP of an economy? Comment.


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Q12 :  

Why was public sector given a leading role in industrial development during the planning period?


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Q13 :  

Explain the statement that green revolution enabled the government to procure sufficient food grains to build its stocks thatcould be used during times of shortage.


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Q14 :  

While subsidies encourage farmers to use new technology, they are a huge burden on government finances. Discuss the usefulness of subsidies in the light of this fact.


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Q15 :  

Why, despite the implementation of green revolution, 65 per cent of our population continued to be engaged in the agriculture sector till 1990?


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Q16 :  

Though public sector is very essential for industries, many public sector undertakings incur huge losses and are a drain on the economy's resources. Discuss the usefulness of public sector undertakings in the light of this fact.


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Q17 :  

Explain how import substitution can protect domestic industry.


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Q18 :  

Why and how was private sector regulated under the IPR 1956?


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Q19 :  

Match the following:

1.

Prime Minister

A.

Seeds that give large proportion of output

2.

Gross Domestic Product

B.

Quantity of goods that can be imported

3.

Quota

C.

Chairperson of the planning commission

4.

Land Reforms

D.

The money value of all the final goods and services produced within the economy in one year

5.

HYV Seeds

E.

Improvements in the field of agriculture to increase its productivity

6.

Subsidy


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<< Previous Chapter 1 : Unit I- Indian Economy on the Eve of Independence Next Chapter 3 : Unit II- Liberalisation, Privatisation and Globalisation: An... >>

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