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Consider the following statements.
1. By the late 19th century, the economic thinking of the Nationalists was in favour of a dominant role of the state in the economy.
2. This thinking was further reinforced by the Keynesian ideas in the wake of the Great Depression.
3. The Indian capitalist class were also influenced by these events which were voiced in the FICCI articulation for planning.
Which of these statements is/are correct?
- a)1 and 2 Only
- b)2 and 3 Only
- c)1 and 3 Only
- d)All of the above
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements.1. By the late 19th century, the eco...
- By the late nineteenth century, the economic thinking of the nationalists (such as M.G. Ranade and Dadabhai Naroji) was in favour of a dominant role of the state in the economy and doubted the prudence of the ‘market mechanism'.
- This thinking was further reinforced by the Keynesian ideas in the wake of the Great Depression, the New Deal in the USA and the Soviet experiment in national planning.
- Thus, the Indian capitalist class were also influenced by these events which were voiced in the FICCI articulation for planning.
Community Answer
Consider the following statements.1. By the late 19th century, the eco...
Statement 1: By the late 19th century, the economic thinking of the Nationalists was in favour of a dominant role of the state in the economy.
Statement 2: This thinking was further reinforced by the Keynesian ideas in the wake of the Great Depression.
Statement 3: The Indian capitalist class were also influenced by this.
Explanation:
The correct answer is option D, which means all of the above statements are correct.
Statement 1: By the late 19th century, the economic thinking of the Nationalists was in favor of a dominant role of the state in the economy.
During the late 19th century, Indian Nationalists were increasingly advocating for economic self-reliance and the development of domestic industries. They believed that the state should play a dominant role in the economy to promote industrialization and protect Indian industries from foreign competition. This was reflected in their demand for economic policies that would promote indigenous industries and reduce dependence on imported goods.
Statement 2: This thinking was further reinforced by the Keynesian ideas in the wake of the Great Depression.
The Great Depression, which lasted from 1929 to the late 1930s, had a significant impact on the global economy. During this period, British economist John Maynard Keynes developed a new economic theory known as Keynesianism. Keynesian economics emphasized the role of government intervention in stabilizing the economy and promoting economic growth. This theory advocated for increased government spending and the use of fiscal policies to stimulate demand and reduce unemployment.
The ideas of Keynesian economics had a profound influence on economic thinking worldwide, including in India. The Indian Nationalists, who were already in favor of a dominant role of the state in the economy, found support for their ideas in Keynesian economics. They saw government intervention as a means to address the economic challenges faced by India, such as poverty, unemployment, and underdevelopment.
Statement 3: The Indian capitalist class were also influenced by this.
The Indian capitalist class, which emerged during the colonial period, was also influenced by the economic thinking of the Nationalists and the ideas of Keynesian economics. They recognized the potential benefits of state intervention in promoting industrialization and protecting domestic industries. They saw the state as a partner in economic development and advocated for policies that would support their interests.
The Indian capitalist class, along with the Nationalists, played a significant role in shaping economic policies in post-independence India. They collaborated with the government to promote industrial growth, establish public sector enterprises, and implement economic planning. This collaboration between the state and the capitalist class reflected the influence of the Nationalists' economic thinking and the Keynesian ideas that emphasized the role of the state in the economy.
In conclusion, all of the given statements are correct. The economic thinking of the Nationalists in late 19th-century India favored a dominant role of the state in the economy. This thinking was further reinforced by the Keynesian ideas in the wake of the Great Depression. Both the Nationalists and the Indian capitalist class were influenced by these ideas and advocated for state intervention in the economy to promote industrialization and protect domestic industries.
Statement 2: This thinking was further reinforced by the Keynesian ideas in the wake of the Great Depression.
Statement 3: The Indian capitalist class were also influenced by this.
Explanation:
The correct answer is option D, which means all of the above statements are correct.
Statement 1: By the late 19th century, the economic thinking of the Nationalists was in favor of a dominant role of the state in the economy.
During the late 19th century, Indian Nationalists were increasingly advocating for economic self-reliance and the development of domestic industries. They believed that the state should play a dominant role in the economy to promote industrialization and protect Indian industries from foreign competition. This was reflected in their demand for economic policies that would promote indigenous industries and reduce dependence on imported goods.
Statement 2: This thinking was further reinforced by the Keynesian ideas in the wake of the Great Depression.
The Great Depression, which lasted from 1929 to the late 1930s, had a significant impact on the global economy. During this period, British economist John Maynard Keynes developed a new economic theory known as Keynesianism. Keynesian economics emphasized the role of government intervention in stabilizing the economy and promoting economic growth. This theory advocated for increased government spending and the use of fiscal policies to stimulate demand and reduce unemployment.
The ideas of Keynesian economics had a profound influence on economic thinking worldwide, including in India. The Indian Nationalists, who were already in favor of a dominant role of the state in the economy, found support for their ideas in Keynesian economics. They saw government intervention as a means to address the economic challenges faced by India, such as poverty, unemployment, and underdevelopment.
Statement 3: The Indian capitalist class were also influenced by this.
The Indian capitalist class, which emerged during the colonial period, was also influenced by the economic thinking of the Nationalists and the ideas of Keynesian economics. They recognized the potential benefits of state intervention in promoting industrialization and protecting domestic industries. They saw the state as a partner in economic development and advocated for policies that would support their interests.
The Indian capitalist class, along with the Nationalists, played a significant role in shaping economic policies in post-independence India. They collaborated with the government to promote industrial growth, establish public sector enterprises, and implement economic planning. This collaboration between the state and the capitalist class reflected the influence of the Nationalists' economic thinking and the Keynesian ideas that emphasized the role of the state in the economy.
In conclusion, all of the given statements are correct. The economic thinking of the Nationalists in late 19th-century India favored a dominant role of the state in the economy. This thinking was further reinforced by the Keynesian ideas in the wake of the Great Depression. Both the Nationalists and the Indian capitalist class were influenced by these ideas and advocated for state intervention in the economy to promote industrialization and protect domestic industries.
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Consider the following statements.1. By the late 19th century, the economic thinking of the Nationalists was in favour of a dominant role of the state in the economy.2. This thinking was further reinforced by the Keynesian ideas in the wake of the Great Depression.3. The Indian capitalist class were also influenced by these events which were voiced in the FICCI articulation for planning.Which of these statements is/are correct?a)1 and 2 Onlyb)2 and 3 Onlyc)1 and 3 Onlyd)All of the aboveCorrect answer is option 'D'. Can you explain this answer?
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Consider the following statements.1. By the late 19th century, the economic thinking of the Nationalists was in favour of a dominant role of the state in the economy.2. This thinking was further reinforced by the Keynesian ideas in the wake of the Great Depression.3. The Indian capitalist class were also influenced by these events which were voiced in the FICCI articulation for planning.Which of these statements is/are correct?a)1 and 2 Onlyb)2 and 3 Onlyc)1 and 3 Onlyd)All of the aboveCorrect answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements.1. By the late 19th century, the economic thinking of the Nationalists was in favour of a dominant role of the state in the economy.2. This thinking was further reinforced by the Keynesian ideas in the wake of the Great Depression.3. The Indian capitalist class were also influenced by these events which were voiced in the FICCI articulation for planning.Which of these statements is/are correct?a)1 and 2 Onlyb)2 and 3 Onlyc)1 and 3 Onlyd)All of the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements.1. By the late 19th century, the economic thinking of the Nationalists was in favour of a dominant role of the state in the economy.2. This thinking was further reinforced by the Keynesian ideas in the wake of the Great Depression.3. The Indian capitalist class were also influenced by these events which were voiced in the FICCI articulation for planning.Which of these statements is/are correct?a)1 and 2 Onlyb)2 and 3 Onlyc)1 and 3 Onlyd)All of the aboveCorrect answer is option 'D'. Can you explain this answer?.
Consider the following statements.1. By the late 19th century, the economic thinking of the Nationalists was in favour of a dominant role of the state in the economy.2. This thinking was further reinforced by the Keynesian ideas in the wake of the Great Depression.3. The Indian capitalist class were also influenced by these events which were voiced in the FICCI articulation for planning.Which of these statements is/are correct?a)1 and 2 Onlyb)2 and 3 Onlyc)1 and 3 Onlyd)All of the aboveCorrect answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements.1. By the late 19th century, the economic thinking of the Nationalists was in favour of a dominant role of the state in the economy.2. This thinking was further reinforced by the Keynesian ideas in the wake of the Great Depression.3. The Indian capitalist class were also influenced by these events which were voiced in the FICCI articulation for planning.Which of these statements is/are correct?a)1 and 2 Onlyb)2 and 3 Onlyc)1 and 3 Onlyd)All of the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements.1. By the late 19th century, the economic thinking of the Nationalists was in favour of a dominant role of the state in the economy.2. This thinking was further reinforced by the Keynesian ideas in the wake of the Great Depression.3. The Indian capitalist class were also influenced by these events which were voiced in the FICCI articulation for planning.Which of these statements is/are correct?a)1 and 2 Onlyb)2 and 3 Onlyc)1 and 3 Onlyd)All of the aboveCorrect answer is option 'D'. Can you explain this answer?.
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