Class 11 Economics - Chapter 2: Indian Economy 1950–1990
Explore India’s economic development from 1950 to 1990 in Class 11 Economics Chapter 2. Learn about five-year plans, the role of the public sector, and import substitution.
Overview
This chapter examines the economic policies adopted by India after independence, focusing on the planning period between 1950 and 1990. It covers the role of the public sector, five-year plans, and the policy of import substitution.
Why This Chapter Matters
This chapter is crucial for understanding how India laid the foundation of its economy post-independence and why economic reforms became necessary in the 1990s.
Real-Life Applications
- Analyzing the objectives and outcomes of India’s five-year plans.
- Understanding the role of the public and private sectors in a mixed economy.
- Evaluating the policy of import substitution and its long-term effects.
Skills You Will Learn
- Comparing pre- and post-independence economic strategies.
- Assessing the strengths and weaknesses of central economic planning.
- Critically evaluating why reforms were needed after 1990.
Explore and Test Your Knowledge
Practice Test
Test your knowledge with our practice test.
Scheduled Talent Test
Participate in the weekly talent test for this chapter.
Flashcards
Q: What was the main goal of India’s five-year plans?
A: The primary goals were economic growth, self-reliance, equity, and modernization of the economy.
A: The primary goals were economic growth, self-reliance, equity, and modernization of the economy.
Q: What is a mixed economy?
A: A mixed economy is one where both the public and private sectors coexist and contribute to economic development.
A: A mixed economy is one where both the public and private sectors coexist and contribute to economic development.
Q: Why was the policy of import substitution adopted?
A: To reduce dependency on foreign goods and promote domestic industries by restricting imports and encouraging local production.
A: To reduce dependency on foreign goods and promote domestic industries by restricting imports and encouraging local production.
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