Indian Economy On The Eve Of Independence — Economics STD 12 Commerce — Question

Read the passage given below and answer the following questions from 1 to 4.Human capital can be defined as the body of knowledge possessed by the population and the capacity of the population to use the knowledge effectively. Until the late 1950s, no economist and any other social scientist did pay much attention to the role of investment in human beings as an important determinant of economic development. The birth of this idea can be dated from the presidential address of Prof. Theodore W. Schultze to the American Economic Association in December 1960. As a result, the concept of human capital formation came to the limelight. A circular relationship between human development and economic growth has come to be established. Economic growth creates conditions for better health and education facilities; which in turn spur economic growth.

1. Human Capital Formation came into existence in:

1. 1950
2. 1960
3. 1970
4. 1980

2. Economists say that the main key player of economic development is:

1. Human capital
2. Physical Capital
3. Real Capital
4. None of these

3. In _ Five year Plan, India emphasized on human capital formation.

1. 2nd
2. 3rd
3. 5th
4. 7th

4. ________ means an improvement in the quality of life and living standards, e.g., measures of literacy, life expectancy, and health care.

1. Economic growth
2. Economic development
3. Investment
4. None of these

Read the passage given below and answer the following questions from 1 to 4.
The government is planning to enhance welfare schemes for villagers by making sure that all eligible people in various database in different ministries get benefits.
Officials said they have begun the process by looking at the Aadhar-based list of ration card holders and the rural development ministry's data on deprived household.
"The convergence of data will help in mapping the eligible people in rural areas who are still not covered under Food Security Act that provides rice and wheat at subsidised prices. At the same time, it will bring a fair picture of rural households in the country which are deprived of basic amenities. This will also help government to reach out to people who are in need", said a food ministry official. The government has database of more than 800 million beneficiaries covered under Food Security Act. It has implemented 'one nation one ration card' scheme in 28 states and 8 union territories covering 686 million people where a person can get subsidised foodgrains from any ration shop irrespective of the State, Municipality or Panchayat where the person is registered.
Source: The Economic Times, November 19, 2020

1. Rice and wheat are provided at............. prices.

1. Normal
2. Higher
3. Subsidized
4. None of these

2. Food Security Act implemented:

1. one tax one nation
2. one nation one ration card
3. demonetization
4. None of the above

3. Rural households are............. of basic amenities.

1. Privileged
2. Deprived
3. Spoiled
4. None of these

4. Officials have begun the process by working at the ............. use of ration card holders.

1. PAN
2. Aadhar
3. Voter card
4. None of these

State the long period goals of five-year plans.
OR
Explain the long-term objectives of Five Year Plans in India.

Write a brief note on International Bank for Reconstruction and Development (IBRD).

'Industrial licensing and industrial sops were used to promote regional equality.' Discuss.

British had no interest in developing India. Give reasons.

How has the city of Thane made a difference?

How are long-term objectives realised through plan objectives?

Briefly discuss the industrial development pattern on the eve of Independence.

Discuss the issue of free trade between India and China, and India and Pakistan.