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Test: Economic Development - 1 - UPSC MCQ


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10 Questions MCQ Test Post Independence History for UPSC Mains - Test: Economic Development - 1

Test: Economic Development - 1 for UPSC 2024 is part of Post Independence History for UPSC Mains preparation. The Test: Economic Development - 1 questions and answers have been prepared according to the UPSC exam syllabus.The Test: Economic Development - 1 MCQs are made for UPSC 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Economic Development - 1 below.
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Test: Economic Development - 1 - Question 1

What were the key challenges faced by the Indian economy at the time of independence?

Detailed Solution for Test: Economic Development - 1 - Question 1
At the time of independence, one of the key challenges faced by the Indian economy was the lack of financial resources. This limited financial base hindered investment in capital industries and development.
Test: Economic Development - 1 - Question 2

Why did the Indian government opt for a mixed economy after independence?

Detailed Solution for Test: Economic Development - 1 - Question 2
The Indian government chose a mixed economy because socialism advocated for equality, which was seen as necessary for the welfare and sustained growth of the country. It aimed to balance profit-driven capitalism with socialist principles.
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Test: Economic Development - 1 - Question 3

Which industry category in the Industrial Policy of 1956 was designated as "Key Industries" or "Basic Industries"?

Detailed Solution for Test: Economic Development - 1 - Question 3
The Basic/Key Industries (Public-cum-Private Sector) category in the Industrial Policy of 1956 included industries like coal, iron & steel, aircraft manufacturing, ship-building, manufacture of telephone, telegraph & wireless apparatus, and mineral oil.
Test: Economic Development - 1 - Question 4
Which economic model emphasized the importance of cottage and small-scale industries in India's economic development?
Detailed Solution for Test: Economic Development - 1 - Question 4
Socialism emphasized the importance of cottage and small-scale industries in India's economic development as they provided local resources and employment opportunities.
Test: Economic Development - 1 - Question 5
What was the main objective of the Indian Parliament when it accepted 'the socialist pattern of society' in December 1954?
Detailed Solution for Test: Economic Development - 1 - Question 5
The Indian Parliament accepted 'the socialist pattern of society' with the objective of establishing a mixed economy, where both the public and private sectors coexisted and complemented each other within the broad framework of national planning.
Test: Economic Development - 1 - Question 6
What was the main thrust of the Industrial Policy of 1977 in India?
Detailed Solution for Test: Economic Development - 1 - Question 6
The main thrust of the Industrial Policy of 1977 in India was to promote cottage and small industries, especially those dispersed in rural areas and small towns.
Test: Economic Development - 1 - Question 7
Which element of India's economic development strategy focused on reducing the concentration of wealth and promoting equity?
Detailed Solution for Test: Economic Development - 1 - Question 7
The element of India's economic development strategy that focused on reducing the concentration of wealth and promoting equity was "Growth with equity," which aimed for a fair distribution of economic prosperity.
Test: Economic Development - 1 - Question 8
What was the primary objective of the National Development Council in India?
Detailed Solution for Test: Economic Development - 1 - Question 8
The primary objective of the National Development Council in India is to provide final approval to the 5-year plans of India, making it the apex body for decision-making and deliberations on development matters.
Test: Economic Development - 1 - Question 9
What is the significance of the Planning Commission in India's economic planning?
Detailed Solution for Test: Economic Development - 1 - Question 9
The Planning Commission in India plays a significant role in formulating 5-year plans and setting development priorities for the country.
Test: Economic Development - 1 - Question 10
What was the core idea of Sir M. Visvesvaraya's ten-year plan?
Detailed Solution for Test: Economic Development - 1 - Question 10
The core idea of Sir M. Visvesvaraya's ten-year plan was to double the per capita income of India in ten years, focusing on economic growth and development.
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