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Economics · 2023 · 4 marks
Liberalisation, Privatisation and Globalisation: An AppraisalIndian Economy During Reforms: An Assessment4 marksAnalyseshort answer
CBSE 2023 · Region 3 · Set 1 · Q31
(a) “Many economists believe that the economic reforms process of 1991 had adversely affected the agricultural sector.” Do you agree with the given…
(a)
“Many economists believe that the economic reforms process of $\displaystyle 1991$ had adversely affected the agricultural sector.” Do you agree with the given statement ? Quote valid arguments in favour of your answer.
OR
(b)(i)
Explain any two shortfalls of the industrial policy under the British rule.
(ii)
Quote the four goals of the five year plans process of India.
Marking-scheme solution
Yes. The agricultural sector was adversely affected by the reform process as public investment in agriculture sector especially in infrastructure had fallen. Further, the partial removal of fertiliser subsidy had led to increase in the cost of production, which had severely affected the small and marginal farmers.
Moreover, there had been a shift from production for the domestic market towards production for the export market focusing on cash crops putting pressure on prices of food grains.
(i)
Shortfalls of the industrial policy under the British rule:
Discriminatory tariff policy followed under the British rule led to the systematic de-industrialisation.
Due to the lack of public investment, India could not develop a sound industrial base under the colonial rule.
(ii)
The four goals of the five year plans process of India were –
Growth
Modernisation
Self-reliance
Equity
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CBSE Class 12 Economics past-paper question from the 2023 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.