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Indian economy on the eve of independence | indian economic development | class 12 Video Lecture - Commerce
FAQs on Indian economy on the eve of independence - indian economic development - class 12 Video Lecture - Commerce
| 1. What was the state of the Indian economy on the eve of independence? |  |
Ans. On the eve of independence, the Indian economy was predominantly agrarian and underdeveloped. The majority of the population was engaged in agriculture, which was characterized by low productivity and outdated techniques. Industrialization was limited, with few large-scale industries and a reliance on imports for manufactured goods.
| 2. How did the Indian economy develop after independence? | |
Ans. After independence, the Indian government adopted a mixed economy model, emphasizing state-led planning and development. The government implemented various policies and initiatives to promote industrialization, including the establishment of public sector enterprises, import substitution, and the Five Year Plans. These efforts led to significant growth in industrial output and infrastructure development.
| 3. What were the key challenges faced by the Indian economy during its development? | |
Ans. The Indian economy faced several challenges during its development, including population growth, poverty, illiteracy, and inadequate infrastructure. Additionally, the country struggled with maintaining a balance between agriculture and industry, reducing regional disparities, and ensuring equitable distribution of resources. External factors such as global economic trends and geopolitical influences also posed challenges.
| 4. How did the Indian economy achieve self-sufficiency in food production? | |
Ans. To achieve self-sufficiency in food production, the Indian government implemented the Green Revolution in the 1960s. This initiative focused on the adoption of high-yielding seed varieties, modern agricultural techniques, and increased use of fertilizers and irrigation. The Green Revolution led to significant improvements in agricultural productivity, particularly in the production of wheat and rice, ensuring food security for the growing population.
| 5. What were the major economic reforms introduced in India post-independence? | |
Ans. Post-independence, India implemented several major economic reforms to liberalize and modernize its economy. In 1991, the government introduced the New Economic Policy, which included measures such as liberalization of trade and foreign investment, privatization of public sector enterprises, and deregulation of several sectors. These reforms aimed to boost economic growth, attract foreign investment, and integrate India into the global economy.
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Dec 02, 2024 Last updated |
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