Indian Economy 1950 to 1990 - Online Test
Q1. At the time of independence the government of India adopted which of the following for the future economic development
Answer : Option D
Explaination / Solution:
During the time of independence government adopted the policy of free market forces along with planning by inducement
Q2. MRTP stands for
Answer : Option A
Explaination / Solution:
Monopolies and Restrictive Trade Practices Act aims to prevent concentration of economic power, provide for control of monopolies, and protect consumer interest.
Q3. The need for planning emerges from the following weakness of the free market system
Answer : Option A
Explaination / Solution:
In a free market the prices are reguated themselves. Supply and demand will reach the point of equilibrium where the most money will be made. However, what is best for the company is not necessarily what is best for the people. Therefore, to earn more profits companies exploit workers, which creates instability and inequality in economy.
Q4. The basic problem the Indian economy is facing is shortage of
Answer : Option C
Explaination / Solution:
Scarcity of resources is one of the basic problems faced by Indian economy. Man made resources is the basic problem faced by economy.
Q5. Perspective plan is
Answer : Option C
Explaination / Solution:
It refers to long-term planning in which long range targets are set in advance for a period of 15, 20, or 25 years.
Q6. The objective of Self reliance in planning means reducing dependence
Answer : Option C
Explaination / Solution:
The motive of self reliance is to attain self sufficiency and use its own resources rather than be dependent on others.
Q7. Who developed HYV seeds
Answer : Option B
Explaination / Solution:
Normal Borlaug was the "Father of the Green Revolution", who developed HYV seeds which involved the development of high-yielding varieties of cereal grains, expansion of irrigation infrastructure, modernization of management techniques to farmers.
Q8. Inclusive growth can be achieved by
Answer : Option D
Explaination / Solution:
Inlusive growth refers to advancing equitable opportunities with an objective to reduce inequality and poverty.
Q9. HYVP stands for
Answer : Option D
Explaination / Solution:
It was introduced in 1964-65 with a new dimension of agricultural production created in the community development project. HYV of Wheat, Paddy and introduced in selected 100 districts but later on it spread in other area also. The objective of this programme is to adopt HYV for maximum production.
Q10. IADP stands for
Answer : Option B
Explaination / Solution:
Intensive Agriculture Development program (IADP) was to provide loan for seeds and fertilizers to farmers. Intensive Agriculture Development program was started with the assistance of Ford Foundation.
