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CBSE Class 12 (Arts) Indian Economy on the Eve of Independence & Reforms — practice questions — page 2

Explore 66 free Indian Economy on the Eve of Independence & Reforms questions in CBSE Class 12 (Arts) Economics. Open each question or exercise to read its content, reference answers and available explanation.

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Indian Economy on the Eve of Independence & Reforms questions and exercises with answers

Showing questions 31–60 of 66.

Which Plan phrase described government control over vital industries?Read the answer and worked solution →By 1990, which sector had the largest share of India's GDP at about 40.59 per cent?Read the answer and worked solution →Which bread-making public firm was sold to the private sector in 2001?Read the answer and worked solution →What is a common argument against fertiliser subsidies?Read the answer and worked solution →India borrowed the idea of five year plans from which country?Read the answer and worked solution →What is the long-term plan covering about twenty years called?Read the answer and worked solution →How did the government help small farmers adopt green revolution technology?Read the answer and worked solution →In a market economy, goods are distributed on the basis of what?Read the answer and worked solution →Which two countries are cited as following mostly socialistic principles?Read the answer and worked solution →Before independence, industry was largely confined to which two products?Read the answer and worked solution →How much did India receive as loan from the World Bank and IMF in the crisis?Read the answer and worked solution →What was the broad package of 1991 reforms in India called?Read the answer and worked solution →Which describes the stabilisation measures of 1991?Read the answer and worked solution →Structural reform policies are mainly meant to do what?Read the answer and worked solution →Which of these is NOT one of the three heads of the 1991 reform policies?Read the answer and worked solution →Industrial licensing was kept for which of these product categories after 1991?Read the answer and worked solution →Financial sector reforms aimed to turn the RBI from regulator into what?Read the answer and worked solution →Foreign investment in Indian banks was raised to around what limit?Read the answer and worked solution →Which of these is a type of Foreign Institutional Investor?Read the answer and worked solution →Why were income tax rates reduced after 1991?Read the answer and worked solution →Which tax slogan describes the aim of GST in India?Read the answer and worked solution →What immediate foreign exchange step did India take in 1991 to ease its payments crisis?Read the answer and worked solution →Quantitative restrictions on consumer goods imports were fully removed from which date?Read the answer and worked solution →Selling part of the equity of public sector enterprises to the public is called what?Read the answer and worked solution →Hiring regular services from outside sources, often abroad, is called what?Read the answer and worked solution →In which year was Tata Steel established, as noted among global Indian firms?Read the answer and worked solution →At which 1955 Congress session was a socialist pattern of society adopted as a goal?Read the answer and worked solution →The Bombay Plan of 1944 called for state investment in what?Read the answer and worked solution →Who coined the term Permit-Licence Raj?Read the answer and worked solution →Which 1951 law began the licensing regulation of Indian industry?Read the answer and worked solution →

Worked practice questions

Which Plan phrase described government control over vital industries?

  1. Level playing field
  2. Commanding heights
  3. Open frontier
  4. Free enterprise
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Correct answer: B. Commanding heights

The Second Five Year Plan said government would control the commanding heights of the economy.

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By 1990, which sector had the largest share of India's GDP at about 40.59 per cent?

  1. Agriculture
  2. Industry
  3. Mining
  4. Services
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Correct answer: D. Services

Services contributed 40.59 per cent by 1990, more than agriculture or industry, which is unusual for a poor country.

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Which bread-making public firm was sold to the private sector in 2001?

  1. Amul Dairy
  2. Britannia Foods
  3. Modern Bread
  4. Parle Products
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Correct answer: C. Modern Bread

Modern Bread was cited as a needless public enterprise because private firms could make bread, and it was sold in 2001.

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