Instructions

• Answer all questions in Hindi or English.
• All questions are compulsory.
• The paper includes different types of questions: very short, short, and long answer.

Section A – Very Short Answer (1 mark each)

1. What type of economy did India adopt after independence? Answer: Mixed Economy
2. Mention the main objectives of the Five-Year Plans. Answer: Growth, Modernization, Self-reliance, Equity
3. What was the aim of the Green Revolution? Answer: To increase agricultural production and ensure food self-sufficiency
4. What was the main objective of the Industrial Policy Resolution 1956 (IPR 1956)? Answer: To prioritize the public sector and develop strategic industries
5. What is import substitution policy? Answer: Promoting domestic production instead of importing goods

Section B – Short Answer (3 marks each)

1. Explain the importance of the mixed economy in India. Answer: In a mixed economy, both the government and private sector play roles. It ensures economic growth, employment creation, and equity.
2. What were the major initiatives in the agriculture sector and their outcomes? Answer: Major initiatives: Land reforms and Green Revolution. Outcomes: Increased food production, food self-sufficiency, though dependence on agriculture did not decline as expected.
3. Explain the roles of the public and private sectors in the industrial sector. Answer: The public sector invests in strategic industries and infrastructure. The private sector operates in limited areas. Inefficiency and losses in public sector posed challenges.
4. Explain the importance of prices as signals. Answer: Prices act as signals to indicate which goods are in higher demand. They help maintain balance in production and distribution.

Section C – Long Answer (5–6 marks each)

1. Describe the main aspects of the Indian economy during 1950–1990. Answer: After independence, India adopted a mixed economy. Economic growth, industrialization, and self-reliance were pursued through Five-Year Plans. Land reforms and Green Revolution improved agricultural production. Industrial Policy 1956 emphasized public sector development and import substitution policy promoted domestic production. Public sector inefficiency and losses were challenges. Prices guided production and distribution.
2. Analyze the objectives and impacts of the Five-Year Plans. Answer: Objectives: Economic growth, modernization, self-reliance, equity. Impacts: Increased national income, improved agricultural production, industrial growth, food self-sufficiency. However, dependence on agriculture did not reduce as expected. Plans balanced roles of public and private sectors in development.
3. Explain the relationship between import substitution policy and industrial development. Answer: Import substitution policy promoted domestic production instead of imports. It increased investment and production in industries, encouraged competition, and created export opportunities. While it supported industrial development, some regional inefficiencies occurred.