Podcast
Questions and Answers
Which economic model did India adopt after gaining independence?
Which economic model did India adopt after gaining independence?
In which year did India adopt the new economic policy through liberalization?
In which year did India adopt the new economic policy through liberalization?
When did India become a member of the World Trade Organisation (WTO)?
When did India become a member of the World Trade Organisation (WTO)?
What was the focus of the First Five Year Plan in India?
What was the focus of the First Five Year Plan in India?
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Study Notes
Economic Model and Reforms in India
- India adopted a mixed economy model after gaining independence, blending elements of socialism and capitalism.
Economic Liberalization
- India adopted a new economic policy through liberalization in 1991.
- The economic liberalization aimed to increase economic growth, promote foreign investment, and reduce government control.
International Trade
- India became a member of the World Trade Organisation (WTO) in 1995.
First Five Year Plan
- The focus of the First Five Year Plan in India was on agriculture and irrigation, aiming to increase food production and reduce dependence on food imports.
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Description
Test your knowledge on the economy of India post-independence with questions about economic models, Five Year Plans, and the focus areas of the First Five Year Plan.
