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Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Grade 12 MCQ


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15 Questions MCQ Test Economics for Grade 12 - Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions

Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions for Grade 12 2024 is part of Economics for Grade 12 preparation. The Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions questions and answers have been prepared according to the Grade 12 exam syllabus.The Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions MCQs are made for Grade 12 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions below.
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Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 1

Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:

Assertion (A): During colonial period, India’s export trade was export surplus.

Reason (R): During the colonial period, India’s exports were more than its imports.

Detailed Solution for Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 1
British policies made Indian handicrafts more expensive and its global demand declining sharply. As a result, the export basket of India during the colonial period contained major products such as sugar, jute, raw silk, indigo, wool, etc. and finished imports for consumers such as cotton silk and wool garments and large goods such as light machines from Britain. India has registered a large export balance during the colonial period.
Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 2

Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:

Assertion (A): India adopted import substitution policy during the first seven Five-year plans precisely.

Reason (R): Import substitution was to substitute the imports of our economy with domestic production.

Detailed Solution for Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 2
India adopted import substitution policy during the first seven Five-year plans precisely to protect domestic industries.
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Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 3

Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:

Assertion (A): The goal of equity was fully served by abolition of intermediaries.

Reason (R): The growth of the country can lead to income inequality and with more modernization unemployment will increase leading to people living under the poverty line.

Detailed Solution for Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 3
The goal of equity was not fully served by abolition of intermediaries as Zamindars continued to own large areas of land due to loopholes in the legislation.
Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 4

Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:

Assertion (A): Green revolution though improved the production of crops but did not increase the income of the farmers.

Reason (R): The farmers sold more crops at a lesser price.

Detailed Solution for Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 4
By 1970, Punjab was producing 70% of the country's total food grains, and farmers' incomes were increasing by over 70%.
Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 5

Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:

Assertion (A): Economy cannot develop without industrial development.

Reason (R): Industrial development leads the economy to have high rate of employment and less poverty in the economy.

Detailed Solution for Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 5
Economic growth without development. It is possible to have economic growth without development. Economic growth may only benefit a small % of the population. For example, if a country produces more oil, it will see an increase in GDP.
Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 6

Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:

Assertion (A): Small Scale Industries face a shortage of capital.

Reason (R): The government is reluctant in providing them any assistance and loans.

Detailed Solution for Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 6
The NSIC provides financial aid to procure raw materials, for activities in relation to marketing and for financing with banks through syndication to MSMEs.
Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 7

Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:

Assertion (A): Foreign exchange crisis was the basis of economic policies of liberalisation, privatisation and globalisation.

Reason (R): During the fiscal year 1990-91, foreign exchange reserves fell to a lower level of rupee 2,400 crores, which was just enough for the payments of three weeks imports.

Detailed Solution for Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 7
It means to integrate the economy of one country with the global economy. During Globalization the main focus is on foreign trade & private and institutional foreign investment. It is the last policy of LPG to be implemented.
Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 8

Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:

Assertion (A): During British rule, India saw a huge drain of wealth.

Reason (R): India generated a large export surplus during the period.

Detailed Solution for Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 8
The drain of wealth means that British economic policies in India were driven primarily by grabbing huge profits from Indian trade. Foreign trade in India has produced a large export balance. This export balance did not result in the importation of gold or silver to India. There was a drain of India's wealth into Britain.
Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 9

Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:

Assertion (A): Every year the government fixes a target for disinvestment of Public Sector Enterprises (PSEs).

Reason (R): Disinvestment is an excellent tool for discarding the loss incurred by Public Sector Enterprises (PSEs).

Detailed Solution for Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 9
It was considered that private funds and management skills could be used effectively to improve the performance of PSUs.
Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 10

Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:

Assertion (A): Navaratna Policy of the government helped in improving the performance of public sector undertakings in India.

Reason (R): Navaratna Policy boosted the public sector industries and helped them to produce more efficiently and also made them competitive in the market.

Detailed Solution for Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 10
Navaratna Policy boosted the public sector industries as they were given greater managerial and operational autonomy.
Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 11

Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:

Assertion (A): Import substitution leads to unfavourable foreign trade.

Reason (R): Import substitution leads the goods to be produced in the country itself.

Detailed Solution for Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 11
Import Substitution (IS) generally refers to a policy that eliminates the importation of the commodity and allows for the production in the domestic market. The objective of this policy is to bring about structural changes in the economy.
Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 12

Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:

Assertion (A): Finished goods were exported from India during the Colonial Era.

Reason (R): India was a hub for raw materials for the British Industries.

Detailed Solution for Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 12
From the time of Independence, India has been one of the important trading countries, exporting primary items like cotton, raw silk, sugar, wool, jute, and indigo, etc. and importer of finished consumer goods like woollen clothes, cotton, silk, and capital goods like light machinery manufactured in Britain.
Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 13

Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:

Assertion (A): Green revolution increased productivity due to the extensive use of fertilisers.

Reason (R): The government gives an economic subsidy to the fertilisers to ensure that farmers have adequate availability of fertilizers.

Detailed Solution for Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 13
The Green Revolution resulted in a large-scale use of pesticides and synthetic nitrogen fertilisers, giving rise to improved irrigation projects and crop varieties. The main objective was to gain food security through scientific methods.
Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 14

Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:

Assertion (A): The major policy initiatives i.e. land reforms and green revolution helped India to become self-sufficient in food grains production.

Reason (R): The proportion of people depending on agriculture did not decline as expected.

Detailed Solution for Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 14
In this case, insecticides and pesticides were used which resulted in greater production of wheat and rice.
Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 15

Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:

Assertion (A): Equity in agriculture called for land reforms which primarily refer to change of ownership from tillers to Zamindars.

Reason (R): The Zamindari system introduced by the British Raj led to the destruction of the agricultural sector in India so the land reforms had to be introduced.

Detailed Solution for Test: Development Experience (1947-90) and Economic Reforms since 1991- Assertion & Reason Type Questions - Question 15
In post-independent India, equity in agriculture called for land reforms which primarily refer to change in the ownership of landholdings from Zamindars to tillers.
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