Class 11 Economics - Indian Economic Development - Chapter Indian Economy 1950-1990 NCERT Solutions | Why did India opt for planning?
Why did India opt for planning?
Soon after independence, India faced an important choice to opt either for capitalism or socialism. Finally, India, inspired by the extraordinary success of planning in Soviet Union, opted for socialism. Although, Indian political and economic conditions were not as favourable as it was for Soviet Unions to opt for socialism, yet India adopted socialism but with a difference. India hinged upon the socialist idea with a strong emphasis on the public sector and active participation of the private sector in a democratic framework. The Planning Commission (1950) was established with the motive that the government would undertake comprehensive planning for the nation as a whole, where the public sector would lay down the basic economic framework and would encourage the private sector for their active contribution to economic growth.
More Questions From Class 11 Economics - Indian Economic Development - Chapter Indian Economy 1950-1990
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Why was the public sector given a leading role in industrial development during the planning period?
- Q:-
Match the following:
1. Prime Minister
2. Gross Domestic Product3. Quota
4. Land Reforms
5. HYV Seeds
6. Subsidy
A. Seeds that give large proportion of output
B. Quantity of goods that can be importedC. Chairperson of the planning commission
D. The money value of all the final goods and services produced within the economy in one year.
E. Improvements in the field of agriculture to increase its productivity
F. The monetary assistance given by government for production activities.
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What is marketable surplus?
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What is the Green Revolution? Why was it implemented and how did Does it benefit the farmers? Explain in brief.
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Explain ‘growth with equity’ as a planning objective.
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Why was it necessary for a developing country like India to follow self-reliance as a planning objective?
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Why and how was the private sector regulated under the IPR 1956?
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Why should plans have goals?
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Define a plan?
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Does modernisation as a planning objective create contradiction in the light of employment generation? Explain.
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