Why and how was the private sector regulated under the IPR 1956?
IPR 1956 was adopted in order to accomplish the aim of state controlling the commanding heights of the economy. This policy was aligned with the Indian economy's inclination towards socialist pattern of the Soviet Union. According to this resolution, industries were classified into following three categories:
Category 1: Those industries that are established and owned exclusively by the public sector.
Category 2: Those industries in which the public sector will perform the primary role while the private sector will play the secondary role. That is, the private sector supplements the public sector in these industries.
Category 3: Those industries that are not included in Category 1 and Category 2 are left to the private sector. These industries that were left to the private sector, the government owns an indirect control by the way of license. In order to initiate a new industry, private entrepreneurs should obtain a license (or permit) from the government. By a licensing system, tax holidays and subsidies allow the government to promote industries in a backward region that will ,in turn, promote the welfare and development of that region. This was supposed to reduce regional disparities. Further, in order to expand the scale of production, the private sector needs to obtain a license from the government. This was supposed to keep a check on the production of goods that are socially undesirable and unwanted. Hence, the state fully controlled the private sector either directly or indirectly.
Why was the public sector given a leading role in industrial development during the planning period?
Match the following:
1. Prime Minister 3. Quota 4. Land Reforms 5. HYV Seeds 6. Subsidy |
A. Seeds that give large proportion of output C. 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. |
What is marketable surplus?
What is the Green Revolution? Why was it implemented and how did Does it benefit the farmers? Explain in brief.
Explain ‘growth with equity’ as a planning objective.
Why was it necessary for a developing country like India to follow self-reliance as a planning objective?
Why should plans have goals?
Define a plan?
Why did India opt for planning?
Does modernisation as a planning objective create contradiction in the light of employment generation? Explain.
What was the focus of the economic policies pursued by the colonial government in India? What were the impacts of these policies?
What are the two major sources of human capital in a country?
What do you mean by rural development? Bring out the key issues in rural development.
Who is a worker?
Explain the term ‘infrastructure’.
What is meant by environment?
Why are regional and economic groupings formed?
Why were reforms introduced in India?
Why calorie-based norm is not adequate to identify the poor?
Name some notable economists who estimated India’s per capita income during the colonial period?
Critically evaluate the role of the rural banking system in the process of rural development in India.
What is sustainable development?
The following table shows the population and worker population ratio for India in 1999-2000. Can you estimate the workforce (urban and total) for India?
Region | Estimates of Population (in crores) |
Worker Population Ratio |
Estimated No. of Workers (in crores) |
Rural Uraban Total |
71.88 28.52 100.40 |
41.9 33.7 39.5 |
71.88/100 x 41.9 = 30.12 ? ? |
Two major environmental issues facing the world today are ____________ and _____________.
Give two instances of
(a) Overuse of environmental resources
(b) Misuse of environmental resources.
Keeping in view your locality, describe any four strategies of sustainable development.
Analyse the recent trends in sectoral distribution of workforce in India.
Explain how the opportunity costs of negative environmental impact are high.
Outline the steps involved in attaining sustainable development in India.
What happens when the rate of resource extraction exceeds that of their regeneration?