12th Class Economics Indian Economy / भारतीय अर्थव्यवस्था Question Bank

done Case Based MCQs - Indian Economy (1950-1990) Total Questions - 10

• question_answer1)

  Direction: Q. 1 to 5

  Read the following case study and answer the given questions.

  During the colonial rule, there was neither growth nor equity in the agricultural sector. The policy makers of independent India had to address these issues which they did through land reforms and promoting the use of 'High Yielding Variety' (HYV) seeds which ushered in a revolution in Indian agriculture.

  The stagnation in agriculture during the colonial rule was permanently broken by the green revolution. This refers to the large increase in production of food grains resulting from the use of high yielding variety (HYV) seeds especially for wheat and rice. The use of these seeds required the use of fertiliser and pesticide in the correct quantities as well as regular supply of water. Also, the application of these inputs in correct proportions is vital. The spread of green revolution technology enabled India to achieve self-sufficiency in food grains and we no longer had to be at the mercy of America, or any other nation, for meeting our nation's food requirements. Thus, land reform measures along with green revolution promoted equity in the agricultural sector.

  Which among the following crops chiefly benefitted as a result of green revolution?
  A)
  Rice and Maize done clear
  B)
  Wheat and Sugarcane done clear
  C)
  Wheat and Rice done clear
  D)
  Rice and Sugarcane done clear
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• question_answer2)
  There had been a significant decline in the prices of food grains in comparison to other items of consumption as a result of green revolution. The given statement is
  A)
  True      done clear
  B)
  False done clear
  C)
  Partially false     done clear
  D)
  Can't say done clear
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• question_answer3)

  Assertion [A] Green revolution helped

  India to achieve self-sufficiency in food grain production and permanently broke the agricultural stagnation.

  Reason [R] Prices of food crops declined as a result of enormous marketed surplus which enabled the government to strengthen their Buffer stocks.

  A)
  Both Assertion [A] and Reason [R] are true and Reason [R] is the correct explanation of Assertion [A] done clear
  B)
  Both Assertion [A] and Reason [R] are true, but Reason [R] is not the correct explanation of Assertion [A] done clear
  C)
  Assertion [A] is true, but Reason [R] is false done clear
  D)
  Assertion [A] is false, but Reason(R) is true done clear
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• question_answer4)
  ......... refers to a change in the ownership of land holdings.
  A)
  Land ceiling done clear
  B)
  Land reforms done clear
  C)
  Land fragmentation done clear
  D)
  None of these done clear
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• question_answer5)
  What do you mean by marketed surplus?
  A)
  Sale of consumer goods in the domestic market done clear
  B)
  Portion of agricultural produce sold in the market by farmers done clear
  C)
  Portion of industrial produce sold in the market done clear
  D)
  A certain proportion of both industrial and domestic produce sold in the market done clear
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• question_answer6)

  Direction: Q 6 to 10

  Read the following case study and answer the given questions.

  The performance of Indian economy during the period of first seven five year plans (1950-1990) was satisfactory if not very impressive. On the eve of independence, India was an industrially backward country, but during this period of first seven plans our industries became far more diversified, with the stress being laid on the public investments in the industrial sector. The policy of import substitution led to protection of the domestic industries against the foreign producers but we failed to promote a strong export surplus. Although public sector expanded to a large extent but it could not bring desired level of improvement in the secondary sector. Excessive government regulations prevented the natural trajectory of growth of entrepreneurship as there was no competition, no innovation and no modernisation on the front of the industrial sector.

  Many Public Sector Undertakings (PSUs) incurred huge losses due to operational inefficiencies, red tapism, poor technology and other similar reasons. These PSU's even continued to function because it was difficult to close a government undertaking even if it is a drain on country's limited resources. On the agricultural front, due to the measures taken under the Green Revolution, India more or less became self-sufficient in the production of food grains. So the need for reforms of economic policy was widely felt in the context of changing global economic scenario to achieve desired growth in the country.

  Which of the following was not a reason for the public sector to play a major role in the initial phase of Indian economic planning?
  A)
  Private entrepreneurs lacked sufficient capital for investment done clear
  B)
  Government aimed for social welfare done clear
  C)
  The market was big enough to encourage private industrialists for investment done clear
  D)
  The government wanted to protect the indigenous producers from foreign competition done clear
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• question_answer7)
  Inward looking trade policy aimed at………. .
  A)
  Substituting imports with domestic production done clear
  B)
  Substituting imports of consumer goods with capital goods done clear
  C)
  Following an open economy model done clear
  D)
  Restrictions on movement of currency flows done clear
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• question_answer8)
  Mechanisation of the Indian agriculture was one of the cause of Green Revolution in India. The given statement is
  A)
  True done clear
  B)
  False done clear
  C)
  Partially true done clear
  D)
  Partially false done clear
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• question_answer9)

  Assertion [A] Many public sector undertakings incurred huge losses due to operational inefficiencies.

  Reason [R] Red tapism was one of the reasons for continuation of such enterprises.

  A)
  Both Assertion [A] and Reason [R] are true and Reason [R] is the correct explanation of Assertion [A] done clear
  B)
  Both Assertion [A] and Reason [R] are true, but Reason [R] is not the correct explanation of Assertion [A] done clear
  C)
  Assertion [A] is true, but Reason [R] is false done clear
  D)
  Assertion [A] is false, but Reason [R] is true done clear
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• question_answer10)
  Select the correct combination between the following columns.

  	Column A		Column B
  A.	Tariff	(i)	Inward looking trade policy
  B.	Quota	(ii)	Policy governing international trade
  C.	Make in India	(iii)	Tax on imported goods
  D.	Trade	(iv)	Quantitative Policy restriction on imports

  Codes
  A)
  A-(iv)    B-(iii)     C-(ii)     D-(i) done clear
  B)
  A-(iii)     B-(iv)    C-(i)      D-(ii) done clear
  C)
  A-(iv)    B-(ii)     C-(iii)     D-(i) done clear
  D)
  A-(iii)     B-(iv)    C-(ii)     D-(i) done clear
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