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

Identify an argument that supports the agricultural subsidies in India.

C. Rajagopalachari, a founder of the Swatantra Party, coined the term 'permit-license raj' to encapsulate the party's frustrations with Nehru's policies, writing in his magazine Swarajya: I want the corruptions of the Permit/Licence Raj to go... I want real, equal opportunities for all and no private monopolies created by the Permit/Licence Raj.

How were these private monopolies indulging in the corruption that C. Rajagopalachari talks about?

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

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:

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

Match the following:

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.

Which economic system is characterized by the provision of goods and services based on the needs of society?

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.

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

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.

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

Before the advent of the Green Revolution in 1960s, India was primarily dependent on _________for the supply of food grains. (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): India’s Green Revolution is an example of how the productivity of scarce land resources can be increased with improved production technology.
• Reason (R): Because of the Green Revolution, farmers produced far larger quantities of foodgrains than was possible earlier, on the same piece of land.

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