Indian Economy 1950-1990 Class 12 MCQ Quiz – Test Your Knowledge!

Industrial Policy Resolution (IPR) 1956 formed the basis of the_________ Five Year Plan. (Fill up the blank with the correct alternative)

Read the following statements - Assertion (A) and Reason ( R)

• Assertion (A): Many public sector undertakings incurred huge losses due to operational inefficiencies.
• Reason (R): Red-tapism was one of the reasons for the continuation of such enterprises.

Select the correct alternative from the following:

State whether the given statement is true or false:

The mechanization of Indian agriculture was one of the causes of the Green Revolution in India.

Read the following statements carefully and choose the correct alternatives given below:

• Statement 1 – Subsidies do not add any burden on the financial health of a nation.
• Statement 2 – Complete removal of subsidies may violate the aim of equitable distribution of income.

What was the purpose of the import substitution policy in India?

__________committee was set up for the development and promotion of small-scale industries in India.

The shackles of agriculture during the colonial rule were permanently broken by the Green Revolution that resulted from the application of ___

1. High Yielding Varieties (HYV)
2. Mechanization of Agriculture
3. Chemical Fertilizers and Pesticides
4. Organic Fertilizers and Pesticides

Identify an argument that supports the agricultural subsidies in India.

What was the primary goal of the Karve committee constituted in 1955?

There are two statements given below marked as Assertion (A) and Reason (R). Read the statements and choose the correct option.

• Assertion (A): In a capitalist economy, private entities own resources, whereas, in a socialist economy, resources are owned by the state.
• Reason (R): In a socialist economy, it is assumed that the government knows the exact needs of the people.

What kind of tariff policy was needed to protect domestic producers from foreign competition, after independence?

Identify the classification that falls outside the purview of the Industrial Policy Resolution, of 1956. (Choose the correct alternative)

First Industrial Policy Resolution of Independent India was announced in the year______ (Fill in the blank with the correct alternative)

There are two statements given below, marked as Assertion (A) and Reason (R). Read the statements and choose the correct option.

• Assertion (A): Land redistribution efforts have failed in reducing levels of poverty in rural India.
• Reason (R): The per capita availability of agricultural land has steadily declined in rural India due to population growth.

Identify the correct sequence of alternatives given in Column II by matching them with respective terms in Column I: