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Development Experience and Economic Reforms > Development Experience and Economic Reforms > Flashcards

Development Experience and Economic Reforms Flashcards

1
Q

When was the postal system in Indian introduced?

A

1837

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2
Q

During the colonial period, Indian had ____ trade balance.

A

Favourable

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3
Q

Characteristics of Indian Economy during the British Rule

A

Semi- feudal, Colonial, Dis-integrated, Backward and Stagnant

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4
Q

What is Livelihood Agriculture?

A

When farmers mainly produce food crops only

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5
Q

Share of the workforce engaged in agriculture during the colonial rule

A

85%

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6
Q

When was Planning Commission constituted?

A

1950

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7
Q

When was National Development Council formed?

A

1952

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8
Q

State the Plan Holiday Period.

A

1966-69

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9
Q

In which 5 year-plan was Malanobis Model adopted?

A

2nd Five-year plan

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10
Q

Who formulates plans in India?

A

Planning Commission

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11
Q

Who finally approves the draft of Indian plans?

A

National Development Council

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12
Q

What is the central objective of Indian Planning?

A

Growth with Stability

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13
Q

Who is the founder of the Green Revolution?

A

Norman. E. Borlaug

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14
Q

What type of Reform is Maximum Price Ceiling?

A

Institutional Reform

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15
Q

What type of problem of agriculture is defective tenure system?

A

Institutional

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16
Q

T/F. Green Revolution improved the production of crops but not the income of farmers.

A

False

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17
Q

What are wonder seeds?

A

HYV seeds which increase production when combined with fertilisers and pesticides.

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18
Q

What is the number of Industrial policy declared after independence?

A

6

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19
Q

Liberalised Industrial Policy was announced on ____

A

July 24, 1991

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20
Q

Industrial Policy in force presently in India is

A

1991

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21
Q

When was Industries (Development &Regulation) Act implemented?

A

1951

22
Q

Regional Equality is the main purpose of ____

A

Industrial Policy Resolution 1956

23
Q

Maximum Investment limit in fixed capital for small scale industry

A

5 crores

24
Q

T/F. In cottage industries, machines are not used whereas they are used in small scale industries.

A

True

25
Q

Presently, the number of industries reserved for the public sector is ___

A

2

26
Q

What are cottage industries?

A

Those which function part/ full time with the help of the family members and traditional methodology

27
Q

After independence, India had a favourable balance of trade situations for ____ times

A

2

28
Q

What % of India’s share in World trade policy has been targeted in Foreign trade policy 2004-2009?

A

1.5%

29
Q

Import- Export Policy 2009-14 was declared on ____

A

27th August 2009

30
Q

Features of New EXIM policy are

A
  1. Abolition of quantitative restriction on export
  2. Special incentives on the export of agricultural products
  3. Improvement in facilities in SEZs
31
Q

India’s EXIM policy 2004-09 was declared on _____

A

31st March 2003

32
Q

T/F. Import Substitution leads to unfavourable foreign trade.

A

True

33
Q

What is the export promotion?

A

Process of giving incentives to old exporters and new entrepreneurs to increase exportable surplus

34
Q

The new economic policy of 1991 is also called____

A

U-turn policy

35
Q

__________ means removing all unnecessary controls and restrictions imposedby government like quotas..

A

Liberalisation

36
Q

What are non-tariff barriers?

A

Restrictions on imports by the government by means other than tax.

37
Q

What is demonetisation?

A

Process of detaching a currency from its status as legal tender in the country.

38
Q

T/F. All before demonetisation has occurred in the context of hyperinflation, wars, political upheavals or other extreme condition.

A

True

39
Q

T/F. Laissez-faire and liberalisation have the same meaning with reference to the economy

A

False

40
Q

Since when is WTO working?

A

January 1st, 1995

41
Q

Name any 2 taxes which were subsumed in GST

A

sales tax, service tax, value-added tax, excise duty

42
Q

Does Electricity distribution belong to the secondary sector?

A

No

43
Q

Occupational structure in British India was _____

A

stagnant and underdeveloped

44
Q

Small Scale Industries were differentiated from large scale industries by _____

A

Amount of Investment

45
Q

The Industrial Policy which worked till 1990 was adopted in _______

A

1956

46
Q

Fiscal Deficit is that part of government expenditure which is met by ______

A

Borrowing

47
Q

Financial sector reforms are undertaken by _

A

RBI

48
Q

The main source of foreign capital to India________

a)Loans from abroad b)Foreign Direct Investment

A

Foreign Direct Investment

49
Q

What signifies the industrial sector in India?

a) source of employment
b) development of agriculture
c) growth of civilisation
d) All of the above

A

d- all of the above

50
Q

The fiscal policy includes

a) taxation
b) subsidies
c) wages
d) both a and b

A

d- both a and b

51
Q

Privatisation means

a) allowing private individuals to set up industries that were earlier reserved for public sector
b) selling part/ whole of government’s equity to the private sector
c) both a and b

A

c) both a and b

52
Q

When was planning commission abolished?

A

2015

Development Experience and Economic Reforms (3 decks)

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