UPSC Exam > UPSC Questions > Consider the following statements:Statement-...
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Consider the following statements:
Statement-I:
India's economic model evolved from a mixed economy concept in the 1950s to a more market-oriented approach by the 1990s.
Statement-II:
The Great Depression of 1929 played a significant role in shaping India's decision to adopt a planned economy.
Which one of the following is correct in respect of the above statements?
India's economic model evolved from a mixed economy concept in the 1950s to a more market-oriented approach by the 1990s.
Statement-II:
The Great Depression of 1929 played a significant role in shaping India's decision to adopt a planned economy.
Which one of the following is correct in respect of the above statements?
- a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
- b)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
- c)Statement-I is correct, but Statement-II is incorrect
- d)Statement-I is incorrect, but Statement-II is correct
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements:Statement-I:India's economic model ...
Statement-I accurately reflects the evolution of India's economic model from a mixed economy concept in the 1950s towards a more market-oriented approach by the 1990s. This transition is well-documented in India's economic history.
However, Statement-II is incorrect. While the Great Depression of 1929 had a global impact, including influencing economic policies worldwide, it did not play a direct role in shaping India's decision to adopt a planned economy. India's move towards economic planning was primarily influenced by factors such as the need to address regional disparities, poverty, and the success of planned economies in other regions, as mentioned in the provided text.
Therefore, the correct answer is that Statement-I is correct, but Statement-II is incorrect.
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Community Answer
Consider the following statements:Statement-I:India's economic model ...
Analysis of the Statements
To evaluate the correctness of the statements, let’s break them down:
Statement-I: India's Economic Evolution
- India’s economic model indeed transitioned from a mixed economy in the 1950s to a more market-oriented approach in the 1990s.
- In the 1950s, India adopted a mixed economy to combine both public and private sectors, focusing on self-reliance and industrialization.
- The 1991 economic liberalization marked a significant shift towards a market-oriented economy, emphasizing deregulation and foreign investment.
Statement-II: Impact of the Great Depression
- The Great Depression of 1929 did influence global economic policies, but it did not directly lead India to adopt a planned economy.
- Instead, the Indian government’s inclination towards a planned economy in the post-independence era was primarily driven by the need to address poverty, unemployment, and economic inequality.
- The planning approach was formally articulated in the first Five-Year Plan launched in 1951, which was shaped by the context of post-colonial development rather than the Great Depression.
Conclusion
Based on the above analysis:
- Statement-I is correct: It accurately reflects the evolution of India's economic model.
- Statement-II is incorrect: While the Great Depression affected many economies, it was not a direct cause of India’s decision to adopt a planned economy.
Thus, the correct answer is option C: Statement-I is correct, but Statement-II is incorrect.
To evaluate the correctness of the statements, let’s break them down:
Statement-I: India's Economic Evolution
- India’s economic model indeed transitioned from a mixed economy in the 1950s to a more market-oriented approach in the 1990s.
- In the 1950s, India adopted a mixed economy to combine both public and private sectors, focusing on self-reliance and industrialization.
- The 1991 economic liberalization marked a significant shift towards a market-oriented economy, emphasizing deregulation and foreign investment.
Statement-II: Impact of the Great Depression
- The Great Depression of 1929 did influence global economic policies, but it did not directly lead India to adopt a planned economy.
- Instead, the Indian government’s inclination towards a planned economy in the post-independence era was primarily driven by the need to address poverty, unemployment, and economic inequality.
- The planning approach was formally articulated in the first Five-Year Plan launched in 1951, which was shaped by the context of post-colonial development rather than the Great Depression.
Conclusion
Based on the above analysis:
- Statement-I is correct: It accurately reflects the evolution of India's economic model.
- Statement-II is incorrect: While the Great Depression affected many economies, it was not a direct cause of India’s decision to adopt a planned economy.
Thus, the correct answer is option C: Statement-I is correct, but Statement-II is incorrect.
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Consider the following statements:Statement-I:India's economic model evolved from a mixed economy concept in the 1950s to a more market-oriented approach by the 1990s.Statement-II:The Great Depression of 1929 played a significant role in shaping India's decision to adopt a planned economy.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer?
Question Description
Consider the following statements:Statement-I:India's economic model evolved from a mixed economy concept in the 1950s to a more market-oriented approach by the 1990s.Statement-II:The Great Depression of 1929 played a significant role in shaping India's decision to adopt a planned economy.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:Statement-I:India's economic model evolved from a mixed economy concept in the 1950s to a more market-oriented approach by the 1990s.Statement-II:The Great Depression of 1929 played a significant role in shaping India's decision to adopt a planned economy.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:Statement-I:India's economic model evolved from a mixed economy concept in the 1950s to a more market-oriented approach by the 1990s.Statement-II:The Great Depression of 1929 played a significant role in shaping India's decision to adopt a planned economy.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer?.
Consider the following statements:Statement-I:India's economic model evolved from a mixed economy concept in the 1950s to a more market-oriented approach by the 1990s.Statement-II:The Great Depression of 1929 played a significant role in shaping India's decision to adopt a planned economy.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:Statement-I:India's economic model evolved from a mixed economy concept in the 1950s to a more market-oriented approach by the 1990s.Statement-II:The Great Depression of 1929 played a significant role in shaping India's decision to adopt a planned economy.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:Statement-I:India's economic model evolved from a mixed economy concept in the 1950s to a more market-oriented approach by the 1990s.Statement-II:The Great Depression of 1929 played a significant role in shaping India's decision to adopt a planned economy.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements:Statement-I:India's economic model evolved from a mixed economy concept in the 1950s to a more market-oriented approach by the 1990s.Statement-II:The Great Depression of 1929 played a significant role in shaping India's decision to adopt a planned economy.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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Consider the following statements:Statement-I:India's economic model evolved from a mixed economy concept in the 1950s to a more market-oriented approach by the 1990s.Statement-II:The Great Depression of 1929 played a significant role in shaping India's decision to adopt a planned economy.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Consider the following statements:Statement-I:India's economic model evolved from a mixed economy concept in the 1950s to a more market-oriented approach by the 1990s.Statement-II:The Great Depression of 1929 played a significant role in shaping India's decision to adopt a planned economy.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Consider the following statements:Statement-I:India's economic model evolved from a mixed economy concept in the 1950s to a more market-oriented approach by the 1990s.Statement-II:The Great Depression of 1929 played a significant role in shaping India's decision to adopt a planned economy.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following statements:Statement-I:India's economic model evolved from a mixed economy concept in the 1950s to a more market-oriented approach by the 1990s.Statement-II:The Great Depression of 1929 played a significant role in shaping India's decision to adopt a planned economy.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.
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