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question_answer1) Assertion [A] Economic development encompasses economic growth. Reason [R] Economic development measures not only a sustained increase in GDP, but also a structural changes in the technical, economic and institutional spheres.
question_answer2) Assertion [A] Modernisation implies adoption of new technology along with a change in the social and economic outlook. Reason [R] Over the years, there have been a reduction in the gender wage parity and in the female labour force participation rate.
question_answer3) Assertion [A] It was necessary to bring balanced regional development in context of Industrial development. Reason [R] Government provided tax sops and introduced licencing policy in the Industrial Policy Resolution (IPR), 1956.
question_answer4) Assertion [A] Development of small scale industry requires a protective shield from the larger firms. Reason [R] Government reserves a number of products for small scale industries and provide tax concessions and loans at lower rate of interest.
question_answer5) Assertion [A] The major policy initiatives i.e. land reforms and green revolution helped India to become self-sufficient in food grains production. Reason [R] The proportion of people depending on agriculture did not decline as expected.
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