Test: Indian Economy On The Eve Of Independence - 2 - Commerce MCQ

A systematic and modern population census, in its present form was conducted non synchronously between 1865 and 1872 in different parts of the country. This effort culminating in 1872 has been popularly labeled as the first population census of India However, the first synchronous census in India was held in 1881.

TISCO - Tata Iron and Steel Company Limited.

The life expectancy rate was 32 years. The literacy rate of the country on the eve of Independence was 16% only.

The year 1921 is taken as the demographic divide for the reason that before this year, the population was not stable, sometimes it increased and at other times it decreased.
The growth rate of population was generally low before 1921. But after this year, there has been considerable and continuous increase in the population.
Between 1901 and 1911, the total increase in population was 5.9% and between 1911 and 1921, there was a decrease of 0.39%. In the decade of 1921-1931, the increase was 11.1%, from 1931 to 1941, it was 14.00% and during 1941-1951, it was 13.5%. It is going increasingly since then. Hence the year 1921 is rightly called the demographic divide.

The Suez Canal is an artificial sea-level waterway in Egypt the Mediterranean Sea through the Red Sea via the Gulf of Suez. Construction began in September 1859 and was completed in November of 1869, 10 and a half years later. The Suez Canal is around 190 km in length.

More than half of India’s foreign trade was restricted to Britain while the rest was allowed with a few other countries like China, Ceylon (Sri Lanka) and Persia (Iran). The opening of the Suez Canal further intensified British control over India’s foreign trade

The history of Indian Railways dates back to over 160 years ago. On 16 th April 1853, the first passenger train ran between Bori Bunder (Bombay) abd Thane, a distance of 34 km.

Census is conducted after every 10 years in most countries, including the United States, India, and many others.

After independence, the Government of India appointed the National Income Committee in August, 1949 with Prof. P.C. Mahalnobis as its chairman and Prof. D.R. Gadgil and Dr. V.K.R.V. Rao as its two members so as to compile a national income estimates rationally on scientific basis. The first report of this committee was prepared in 1951. The estimate given by Dr Rao regarding per capita output was 0.005.

Under British Rule, there were three main types of land tenure systems in India. They were Zamindars, Mahalwari and Rayatwari.

Tata Iron and Steel Company or TISCO is the first iron and steel manufacturing plant in India which was founded and established by Jamsetji Tata and Dorabji Tata respectively on 26th August 1907 at Jamshedpur, Jharkhand. 

Jute Textile Industry is one of the major Industries in the Eastern India, particularly in West Bengal.

The false statement is B: Indian economy at the time of independence was an industrial economy.
Explanation:
Indian economy at the time of independence was an industrial economy: This statement is false. The Indian economy at the time of independence was primarily agrarian in nature, with agriculture being the mainstay. The industrial sector was underdeveloped and contributed only a small portion to the overall economy.

India’s per capita income during colonial period was estimated by some individual. Among the notable estimators — Dadabhai Naoroji, William Digby, Findlay Shirras.

To determine the largest share of the workforce, we need to consider which sector employs the most people.
Given that the largest share of the workforce is 72%, we can conclude that the answer is C: Primary sector. This means that the majority of the workforce is engaged in activities related to natural resources and raw materials such as agriculture, mining, fishing, etc.

CAGR stands for Compound Annual Growth Rate.
The Compound Annual Growth Rate (CAGR) is a financial metric used to measure the annual growth rate of an investment over a specific period of time. It represents the average rate at which an investment has grown or is expected to grow over multiple periods.

The cotton textile mills, mainly dominated by Indians, were located in the western parts of the country, namely, Maharashtra and Gujarat, while the jute mills dominated by the foreigners were mainly concentrated in Bengal.

The correct option is Option B

Railways assisted British industries to widen the market for their finished products. 

Post and telegraphs were developed to enhance the efficiency and effectiveness of the British administration.

GNP means gross national product. it is clear that it is on national level and a nation's resident should be included only. A another word is GDP it is gross domestic product. It includes every Product that has been made in our country it does not matter that who has made it resident or non resident.

The three-sector is an economic theory which divides economies into three sectors of activity, manufacturing (secondary 10%), and services (tertiary 18%).