Podcast
Questions and Answers
India adopted a ______ economy model after independence, blending socialism and capitalism.
India adopted a ______ economy model after independence, blending socialism and capitalism.
mixed
The Indian economic plans were executed through ______ year plans.
The Indian economic plans were executed through ______ year plans.
five
Growth, modernisation, self-sufficiency, and ______ are the common goals of the five-year plans.
Growth, modernisation, self-sufficiency, and ______ are the common goals of the five-year plans.
equity
______ reforms and the Green Revolution were major policy initiatives in the agricultural sector.
______ reforms and the Green Revolution were major policy initiatives in the agricultural sector.
The ______ Revolution enabled the government to procure sufficient food grains to build stocks for shortage times.
The ______ Revolution enabled the government to procure sufficient food grains to build stocks for shortage times.
______ substitution policy in the industrial sector increased its contribution to GDP.
______ substitution policy in the industrial sector increased its contribution to GDP.
A major drawback in the industrial sector was the inefficient functioning of the ______ sector, which led to financial losses.
A major drawback in the industrial sector was the inefficient functioning of the ______ sector, which led to financial losses.
Some economists advocate that farmers in other countries require assistance with ______ policies.
Some economists advocate that farmers in other countries require assistance with ______ policies.
One of the fundamental questions addressed in economics is, "How should goods and services be ______ among people?
One of the fundamental questions addressed in economics is, "How should goods and services be ______ among people?
Deciding whether producers should use more human labor or more capital (machines) for producing things relates to the question of how goods and services should be ______.
Deciding whether producers should use more human labor or more capital (machines) for producing things relates to the question of how goods and services should be ______.
The Five Year Plans in India aimed to determine what goods and ______ should be produced in the country.
The Five Year Plans in India aimed to determine what goods and ______ should be produced in the country.
Development policies in India from 1950-1990 focused on key sectors such as ______ and industry to foster economic growth.
Development policies in India from 1950-1990 focused on key sectors such as ______ and industry to foster economic growth.
Regulated economies involve a degree of government ______ , aiming to guide economic development but also potentially creating limitations.
Regulated economies involve a degree of government ______ , aiming to guide economic development but also potentially creating limitations.
A case study on farming methods includes examining the types of seeds, fertilizers, machines, means of ______ , costs, and income earned.
A case study on farming methods includes examining the types of seeds, fertilizers, machines, means of ______ , costs, and income earned.
Changes in cultivation methods can be gathered from elderly members of farming families, providing a ______ perspective on agricultural evolution.
Changes in cultivation methods can be gathered from elderly members of farming families, providing a ______ perspective on agricultural evolution.
Discussions on farm subsidies often involve differing views between developed and developing countries, particularly concerning the impact on global ______ .
Discussions on farm subsidies often involve differing views between developed and developing countries, particularly concerning the impact on global ______ .
Flashcards
India's Five Year Plans goals
India's Five Year Plans goals
Objectives outlining production and distribution strategies in various sectors.
Development policies (1950-1990)
Development policies (1950-1990)
Guidelines aimed at improving sectors like agriculture and industry during this period.
Regulated economy
Regulated economy
An economic system where the government controls production and distribution.
Production decisions
Production decisions
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Agricultural case study
Agricultural case study
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Farm subsidies debate
Farm subsidies debate
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Occupational structure pie charts
Occupational structure pie charts
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World Bank and IMF
World Bank and IMF
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Mixed Economy Model
Mixed Economy Model
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Five Year Plans
Five Year Plans
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Land Reforms
Land Reforms
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Green Revolution
Green Revolution
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Self-sufficiency
Self-sufficiency
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Public Sector
Public Sector
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Marketable Surplus
Marketable Surplus
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Subsidies in Agriculture
Subsidies in Agriculture
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Study Notes
Indian Economy 1950-1990
- Learners will gain knowledge of India's five-year plans' goals
- Students will learn about development policies in sectors like agriculture and industry from 1950-1990
- Students will understand the merits and limitations of a regulated economy
Introduction
- India gained independence on August 15, 1947
- Jawaharlal Nehru favored socialism over other economic systems
- Nehru, and other Indian leaders, rejected the extreme versions of capitalism and socialism
- The central objective of planning in India was to initiate a process of development which would improve the living conditions and create more opportunity for a richer and more varied life.
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Description
Explore India's economic landscape from 1950-1990, covering the goals of the five-year plans and development policies in agriculture and industry. Understand the merits and limitations of a regulated economy during this transformative period. Learn about India's economic system post independence.
