Indicate the volume and direction of trade at the time of independence.
During the colonial rule, the British followed a discriminatory tariff policy under which they imposed heavy tariffs (export duties) on India's export of handicraft products, while allowing free export of India's raw material to Britain and free import of British products to India. This made Indian exports costlier and its international demand fell drastically. India's export basket during the colonial rule consisted mainly of primary products like sugar, jute, silk, etc. and the imports consisted of finished consumer goods like cotton, woolen clothes, etc, from Britain. As the monopoly power of India's export and import rested with Britain, so, more than half of India's trade was restricted to Britain and the remaining imports were directed towards China, Persia, and Srilanka. The opening up of the Suez Canal further intensified the monopoly power of the British over India's foreign trade. It led to the fast movement of goods from India to Britain and vice-versa. The surplus generated from India's foreign trade was not invested in Indian economy; rather it was used for administrative and war purposes. This led to the drain of Indian wealth to Britain.
Critically appraise some of the shortfalls of the industrial policy pursued by the British colonial administration.
What do you understand by the drain of Indian wealth during the colonial period?
When was India’s first official census operation undertaken?
Name some modern industries which were in operation in our country at the time of independence?
Name some notable economists who estimated India’s per capita income during the colonial period?
Highlight the salient features of India’s pre-independence occupational structure.
What were the main causes of India’s agricultural stagnation during the colonial period?
Give a quantitative appraisal of India’s demographic profile during the colonial period.
What was the focus of the economic policies pursued by the colonial government in India? What were the impacts of these policies?
Were there any positive contributions made by the British in India? Discuss.
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.
Define a plan?
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?
What are the indicators of educational achievement in a country?
Explain how investment in education stimulates economic growth.
Argue in favour of the need for different forms of government intervention in education and health sectors.
What do you mean by transmission and distribution losses? How can they be reduced?
Does modernisation as a planning objective create contradiction in the light of employment generation? Explain.
Describe the path of developmental initiatives taken by Pakistan for its economic development.
Explain how import substitution can protect domestic industry.
Distinguish between ‘Green Revolution’ and ‘Golden Revolution’.
Why and how was the private sector regulated under the IPR 1956?
Critically evaluate the role of the rural banking system in the process of rural development in India.
Explain the statement that the green revolution enabled the government to procure sufficient food grains to build its stocks that could be used during times of shortage.