Worksheet: Indian Economy 1950-1990 - 2 | Economics Class 12 - Commerce PDF Download

Section 1: Fill in the Blanks

Q1: Following India's independence, the country's leaders had to make a decision on which economic system would serve the welfare of all its citizens. The two options available were _______ and _______.

Q2: In India, the idea of planning was adapted from the former _______.

Q3: The process of modernization involves the adoption of new technology and techniques to enhance _______.

Q4: To decrease reliance on foreign goods, it is advisable to refrain from importing items that can be produced _______.

Q5: The Green Revolution brought an end to the stagnation caused by the reliance on _______ for agriculture.

Q6: The term "Green Revolution" denotes a significant increase in _______ production.

Q7: The excess food produced during the Green Revolution contributed to the country's _______.

Q8: Protection from imports took the form of _______ and _______.

Q9: The industrial sector's contribution to India's GDP increased from 11.8% in 1950-51 to _______ in 1990-91.

Q10: The excessive regulation of the permit license raj hindered some companies from becoming more _______.

Section 2: Assertion and Reason

Q1: Assertion: The leaders of India chose a mixed economy system to combine the best aspects of capitalism and socialism.
Reason: They didn't want to adopt the Soviet Union's version, which had excessive government control.
(a) Both Assertion and Reason are true and Reason is the correct explanation of the Assertion.
(b) Both Assertion and Reason are true, but Reason is not the correct explanation of the Assertion.
(c) Assertion is true, but Reason is false.
(d) Assertion is false, but Reason is true.

Q2: Assertion: The Green Revolution brought an end to the stagnation in Indian agriculture.
Reason: It was primarily limited to wealthy farmers in affluent states.
(a) Both Assertion and Reason are true and Reason is the correct explanation of the Assertion.
(b) Both Assertion and Reason are true, but Reason is not the correct explanation of the Assertion.
(c) Assertion is true, but Reason is false.
(d) Assertion is false, but Reason is true.

Q3: Assertion: Protection from imports in India took the form of tariffs and quotas.
Reason: The idea was to replace imported goods with domestic production.
(a) Both Assertion and Reason are true and Reason is the correct explanation of the Assertion.
(b) Both Assertion and Reason are true, but Reason is not the correct explanation of the Assertion.
(c) Assertion is true, but Reason is false.
(d) Assertion is false, but Reason is true.

Q4: Assertion: The public sector contributed significantly to the growth of the Indian economy.
Reason: No distinction was made between the tasks that the public sector alone could handle and those that could also be handled by the private sector.
(a) Both Assertion and Reason are true and Reason is the correct explanation of the Assertion.
(b) Both Assertion and Reason are true, but Reason is not the correct explanation of the Assertion.
(c) Assertion is true, but Reason is false.
(d) Assertion is false, but Reason is true.

Q5: Assertion: Some economists argue that the government should maintain agricultural subsidies.
Reason: Farming in India remains a risky and uncertain endeavor.
(a) Both Assertion and Reason are true and Reason is the correct explanation of the Assertion.
(b) Both Assertion and Reason are true, but Reason is not the correct explanation of the Assertion.
(c) Assertion is true, but Reason is false.
(d) Assertion is false, but Reason is true.

Section 3: Very Short Answers

Q1: What two economic systems were the options for India after independence?

Q2: What were the goals of the First Five-Year Plans in India?

Q3: What is the key indicator of a country's growth in terms of goods and services?

Q4: What was the main focus of the Green Revolution in India?

Q5: What is the maximum investment allowed for small-scale industries in India today?

Q6: What was the primary trade strategy adopted by India during the first seven plans?

Q7: What was the purpose of tariffs and quotas in trade policy?

Q8: What was the contribution of the industrial sector to India's GDP in 1950-51?

Q9: What did the "permit license raj" hinder in India?

Q10: Why did some economists argue for continuing agricultural subsidies in India?

Section 4: Short Answers

Q1: Explain the reasons behind India's choice of a mixed economy system after independence.

Q2: Describe the goals of the First Five-Year Plans in India.

Q3: How did the Green Revolution bring about self-sufficiency in food production in India?

Q4: Explain the significance of the small-scale industry in India's economic development.

Q5: What were the features of the Industrial Policy Resolution of 1956 in India?

Q6: Discuss the impact of protectionism on India's industrial development.

Q7: What were the criticisms of the public sector's performance in India's industrial development?

Q8: Explain the changing global economic scenario that led to the introduction of the new economic policy in 1991.

Section 5: Long Answers

Q1: Discuss the significance of the Green Revolution in India's agricultural sector and its impact on self-sufficiency.

Q2: Explain the impact of the Industrial Policy Resolution of 1956 on the industrial sector in India.

Q3: Discuss the challenges and criticisms of the public sector's role in India's industrial development.

Q4: Evaluate the impact of protectionism on India's industrial development and trade policies.