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CBSE Class 12 (Arts) Indian Economy on the Eve of Independence & Reforms — practice questions — page 3

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 61–66 of 66.

Which 1969 law required large firms to get approval before expanding?Read the answer and worked solution →From 1967, how many items were first reserved for small-scale units?Read the answer and worked solution →Which body did the Modi government disband in 2014?Read the answer and worked solution →What did India give London as collateral for the IMF bailout in 1991?Read the answer and worked solution →The First Five-Year Plan chiefly focused on which sector?Read the answer and worked solution →In 1955 only one of 21 economists dissented from the Second Plan memorandum. Who?Read the answer and worked solution →

Worked practice questions

Which 1969 law required large firms to get approval before expanding?

  1. MRTP Act
  2. FERA Act
  3. SEBI Act
  4. RTI Act
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Correct answer: A. MRTP Act

The Monopolies and Restrictive Trade Practices Act of 1969 added approval requirements for big business houses.

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From 1967, how many items were first reserved for small-scale units?

  1. 27
  2. 47
  3. 147
  4. 873
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Correct answer: B. 47

Reservation began with 47 items in 1967 and the list later peaked at 873 items in 1984.

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Which body did the Modi government disband in 2014?

  1. Finance Commission
  2. Planning Commission
  3. Election Commission
  4. Law Commission
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Correct answer: B. Planning Commission

The government argued the Planning Commission had outlived its utility and disbanded it in 2014.

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