Mock Test –  Indian Economy 1950–1990

1. Observe the figure carefully and choose the correct option from the alternatives given below:

2. The first Industrial Policy Resolution was initiated in:

3. The starting of land reforms programmes was set up in the right direction but it could not make much progress because of:

4. __________ is known as the architect of Indian Planning.

5. Statement 1: Growth refers to increase in a country’s capacity to produce the output of goods and services within the country.

Statement 2: A good indicator of economic growth, in the language of economics, is steady increase in the Gross Domestic Product (GDP).

6. Land ceiling refers to:

7. Green Revolution introduced during the planning process was restricted mainly to:

8. __________ committe was set up for the development and promotion of small scale industries in India.

9. License to expand production under industrial policy was given only

10. Arrange the following events in correct chronological order and choose the correct alternative:

(i) Constitution of Karve Committee

(ii) Establishment of Planning Commission

(iii) Beginning of First Five Year Plan

(iv) Establishment of NITI Aayog

11. Protection of domestic industries took the form of:

12. Assertion (A): The policy of ‘land to the tiller’ is based on the idea that the cultivators will take more interest and they will have more incentive resulting in increasing output if they are the owners of the land.

Reason (R): Ownership of land enables the tiller to make profit from the increased output.

13. Structural composition refers to the:

14. __________ is the portion of agricultural produce which is sold in the market by the farmers, after meeting their self-consumption requirements

15. What kind of tariff policy was needed to protect domestic producers from foreign competition, after independence?

16. ___________ was the objective of Import Substitution policy in India.v

17. During the initial stages of planning, special concessions were given to the industries producing goods to be used as substitutes for imported goods.

This strategy was named as:

18. Assertion (A): The main aim of capitalism is to earn maximum profit.

Reason (R): Central problem in capitalism is solved through market forces of demand and supply.

19. Identify the correct sequence of alternatives given in Column II by matching them with respective terms in Column I and choose the correct alternative:

Choose the correct alternative:

20. Industrial Policy Resolution (IPR) 1956 formed the basis of __________ Five Year Plan

21. The Planning Commission was set up in:

22. Import substitution refers to a policy of substitution of imports by ________ production.

23. ‘Abolition of intermediaries’ and ‘land ceiling’ are part of:

24. Statement 1: In a socialist economy, it is assumed that the government knows what is good for the people of the country and so the desires of individual consumers are given much importance.

Statement 2: In a mixed economy, the market will provide whatever goods and services it can produce well.

25. C Rajagopalachari, a founder of Swatantra Party, coined the term ‘permit licence raj’ to encapsulate the party’s frustrations with Nehru’s policies, writing in his magazine, “Swarajya: I want the corruptions of the Permit/License Raj to go… I want real, equal opportunities for all and no private monopolies created by the Permit/Licence Raj.”

How were these private monopolies indulging in the corruption that C Rajgopalachari talks about?

26. Which factor led to the breaking up of the stagnation of agriculture?

27. Small scale industries were given protection by the government as:

28. Who is known as the architect of ‘Indian Planning’?

29. Identify the correct pair from the following Column I and Column II and choose the correct alternative:

Alternatives:

30. Observe the given image carefully and choose the most closely associated option for ‘A’ from the alternatives given below: