Discuss the impact of the Industrial Policy Resolution of 1956 on India's economic development.

The 1956 policy shaped India’s economy.

• Defined state and private roles.

• Promoted state control in key areas.

• Fostered industrial sector growth.

True or False: The initial phase of the Green Revolution benefited small farmers equally as large farmers.

False. The initial phase primarily benefited wealthy farmers who could afford the necessary inputs, while small farmers had limited access.

What were the primary goals of India's Five-Year Plans?

India's Five-Year Plans aimed for growth.

• Focus on economic development.

• Promote self-reliance in industries.

• Ensure equitable resource distribution.

Explain the concept of import substitution and its significance in India's trade policy.

Import substitution supports local industries.

• Encourages domestic production growth.

• Reduces dependency on imports.

• Strengthens local economies and jobs.

Fill in the blanks: The establishment of the NITI Aayog in 2014 replaced the ___ to oversee India's development plans.

Planning Commission

What challenges did land reforms face in India, particularly concerning the zamindari system?

Land reforms faced significant challenges.

• Zamindars exploited loopholes.

• Legal delays hindered progress.

• State commitment was lacking.

What role did Prasanta Chandra Mahalanobis play in Indian planning?

Key architect of Indian planning.

• Established Indian Statistical Institute.

• Influenced Five-Year Plans' formulation.

• Significant in economic planning.

True or False: The public sector in India has been criticized for inefficiency and lack of profitability.

True

Public sector inefficiency is well-documented.

• Critics highlight recurring losses.

• Public vs. private roles debated.

• Impact on service quality noted.

Explain the significance of equity in the context of India's economic development.

Equity is vital for India’s growth.

• Promotes fair resource distribution.

• Reduces poverty and inequality.

• Supports sustainable economic progress.

Fill in the blanks: The transition from a primarily agricultural economy to one with a significant ___ sector has occurred due to technological advancements.

Service