Home › CBSE Class 12 (Arts) › Economics › Indian Economic Development: Development Experience (1947-90) and Economic Reforms since 1991
CBSE Class 12 (Arts) Indian Economic Development: Development Experience (1947-90) and Economic Reforms since 1991 — practice questions
66 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice CBSE Class 12 (Arts) Indian Economic Development: Development Experience (1947-90) and Economic Reforms since 1991 in the app →In which year was India's Planning Commission set up to survey resources and frame plans?Which of these was NOT one of the four goals of India's five year plans?Who is regarded as the architect of Indian planning because the Second Plan used his ideas?Which Calcutta institute did P.C. Mahalanobis found?The market value of all final goods and services produced in a country in a year is called what?Adopting new technology, such as new seed varieties or machines, to raise output is called what?What did self-reliance as a planning goal mean in practice?A plan goal stressing that basic needs are met and wealth inequality is reduced is known as what?For how many of the early plans was self-reliance given importance?Land reforms in agriculture primarily refer to a change in what?What does a land ceiling fix?Before independence, the land tenure system was characterised by which rent-collecting group?Land reforms were notably successful in which pair of states?The green revolution was based on which input for wheat and rice?In the first phase of the green revolution, HYV seeds mainly benefited which crop?When did the second phase of the green revolution occur?The part of farm produce that farmers sell in the market is called what?Roughly what share of the population depended on agriculture at independence?By 1990, about what per cent of the population still depended on agriculture?Industry's share of GDP rose from 13 per cent in 1950-51 to what in 1990-91?What annual growth rate did the industrial sector record during the first seven plans?How many categories did the Industrial Policy Resolution of 1956 divide industries into?Under the licensing system, what was required before starting a new industrial unit?Why was it easier to get a licence for a unit in a backward area?The 1955 committee that noted small industries' role in rural development was named after whom?In 1950, a small-scale unit could invest at most how much in assets?Why were small-scale industries favoured for generating jobs?A trade strategy that replaces imports with domestic production is called what?Protection of domestic industry from imports took which two forms?Limits on the quantity of a good that may be imported are called what?Which Plan phrase described government control over vital industries?By 1990, which sector had the largest share of India's GDP at about 40.59 per cent?Which bread-making public firm was sold to the private sector in 2001?What is a common argument against fertiliser subsidies?India borrowed the idea of five year plans from which country?What is the long-term plan covering about twenty years called?How did the government help small farmers adopt green revolution technology?In a market economy, goods are distributed on the basis of what?Which two countries are cited as following mostly socialistic principles?Before independence, industry was largely confined to which two products?How much did India receive as loan from the World Bank and IMF in the crisis?What was the broad package of 1991 reforms in India called?Which describes the stabilisation measures of 1991?Structural reform policies are mainly meant to do what?Which of these is NOT one of the three heads of the 1991 reform policies?Industrial licensing was kept for which of these product categories after 1991?Financial sector reforms aimed to turn the RBI from regulator into what?Foreign investment in Indian banks was raised to around what limit?Which of these is a type of Foreign Institutional Investor?Why were income tax rates reduced after 1991?Which tax slogan describes the aim of GST in India?What immediate foreign exchange step did India take in 1991 to ease its payments crisis?Quantitative restrictions on consumer goods imports were fully removed from which date?Selling part of the equity of public sector enterprises to the public is called what?Hiring regular services from outside sources, often abroad, is called what?In which year was Tata Steel established, as noted among global Indian firms?At which 1955 Congress session was a socialist pattern of society adopted as a goal?The Bombay Plan of 1944 called for state investment in what?Who coined the term Permit-Licence Raj?Which 1951 law began the licensing regulation of Indian industry?Which 1969 law required large firms to get approval before expanding?From 1967, how many items were first reserved for small-scale units?Which body did the Modi government disband in 2014?What did India give London as collateral for the IMF bailout in 1991?The First Five-Year Plan chiefly focused on which sector?In 1955 only one of 21 economists dissented from the Second Plan memorandum. Who?