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Chapters
1: Indian Economy on the Eve of Independence
▶ 2: Indian Economy 1950-1990
Unit 2: Economic Reforms since 1991
3: Liberalisation, Privatisation and Globalisation: An Appraisal
Unit 3: Current Challenges Facing the Indian Economy
4: Human Capital Formation in India
5: Rural Development
6: Employment: Growth, Informalisation and Other Issues
7: Environment and Sustainable Development
Unit 4: Development Experiences of India : a Comparison with Neighbours
8: Comparative Development Experiences of India and Its Neighbours
![NCERT solutions for इकॉनॉमिक्स इंडियन इकॉनॉमिक्स डेवलपमेंट [इंग्रजी] इयत्ता १२ chapter 2 - Indian Economy 1950-1990 - Shaalaa.com](/images/economics-indian-economic-development-english-class-12_6:a654e356f641434097869c2416a05abb.jpg "NCERT solutions for इकॉनॉमिक्स इंडियन इकॉनॉमिक्स डेवलपमेंट [इंग्रजी] इयत्ता १२ chapter 2 - Indian Economy 1950-1990")
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Solutions for Chapter 2: Indian Economy 1950-1990
Below listed, you can find solutions for Chapter 2 of CBSE NCERT for इकॉनॉमिक्स इंडियन इकॉनॉमिक्स डेवलपमेंट [इंग्रजी] इयत्ता १२.
NCERT solutions for इकॉनॉमिक्स इंडियन इकॉनॉमिक्स डेवलपमेंट [इंग्रजी] इयत्ता १२ 2 Indian Economy 1950-1990 Intext Question [Pages 18 - 31]
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Every society has to answer three questions:
One answer to these questions is to depend on the market forces of supply and demand. In a market economy, also called capitalism, only those consumer goods will be produced that are in demand, i.e., goods that can be sold profitably either in the domestic or in the foreign markets. If cars are in demand, cars will be produced, and if bicycles are in demand, bicycles will be produced. If labour is cheaper than capital, more labour-intensive methods of production will be used and vice versa. In a capitalist society, the goods produced are distributed among people not on the basis of what people need but on the basis of Purchasing Power,the ability to buy goods and services. That is, one has to have the money in the pocket to buy it. Low-cost housing for the poor is much needed but will not count as demand in the market sense because the poor do not have the purchasing power to back the demand. As a result, this commodity will not be produced and supplied as per market forces. Such a society did not appeal to Jawaharlal Nehru, our first prime minister, for it meant that the great majority of people of the country would be left behind without the chance to improve their quality of life. A socialist society answers the three questions in a totally different manner. In a socialist society, the government decides what goods are to be produced in accordance with the needs of society. It is assumed that the government knows what is good for the people of the country and so the desires of individual consumers are not given much importance. The government decides how goods are to be produced and how they should be distributed. In principle, distribution under socialism is supposed to be based on what people need and not on what they can afford to purchase. Unlike under capitalism, for example, a socialist nation provides free health care to all its citizens. Strictly, a socialist society has no private property since everything is owned by the state. In Cuba and China, for example, most of the economic activities are governed by the socialistic principles. Most economies are mixed economies, i.e. the government and the market together answer the three questions of what to produce, how to produce and how to distribute what is produced. In a mixed economy, the market will provide whatever goods and services it can produce well, and the government will provide essential goods and services which the market fails to do. |
Work These Out
Discuss in your class the changes in technology used for:
- Production of food grains
- Packaging of products
- Mass communication
Find out and prepare a list of major items that India imported and exported during 1990-91 and 2018-19.
- Observe the difference
- Do you see the impact of self-reliance? Discuss.
A group of students may visit an agricultural farm, prepare a case study on the method of farming used, that is, types of seeds, fertilisers, machines, means of irrigation, cost involved, marketable surplus and income earned. It will be beneficial if the changes in cultivation methods could be collected from an elderly member of the farming family:
- Discuss the findings in your class.
- The different groups can then prepare a chart showing variations in cost of production, productivity, use of seeds, fertilisers, means of irrigation, time taken, marketable surplus and income of the family.
Collect newspaper cuttings related to the World Bank, International Monetary Fund, World Trade Organisation (and meets of G7, G8, G10 countries). Discuss the views shared by the developed and developing countries on farm subsidies.
Prepare pie charts on the occupational structure of the Indian economy available in the following table. Discuss the possible reasons for the change in the shape of pies.
| Sector | 1950-51 | 1990-91 |
| Agriculture | 72.1 | 66.8 |
| Industry | 10.7 | 12.7 |
| Services | 17.2 | 20.5 |
Study the arguments for and against agricultural subsidies. What is your view on this issue?
Some economists argue that farmers in other countries, particularly developed countries, are provided with high amount of subsidies and are encouraged to export their produce to other countries. Do you think our farmers will be able to compete with farmers from developed countries? Discuss.
Construct a pie chart for the following table on sectoral contribution to GDP and discuss the difference in the contribution of the sectors in the light of effects of development during 1950-91.
| Sector | 1950-51 | 1990-91 |
Agriculture  |
59.0 | 34.9 |
Industry  |
13.0 | 24.6 |
Services  |
28.0 | 40.5 |
Conduct a debate in your classroom on the usefulness of Public Sector Undertakings (PSUs) by dividing the class into two groups. One group may speak in favour of PSUs and the other group against the motion (involve as many students as possible and encourage them to give examples).
NCERT solutions for इकॉनॉमिक्स इंडियन इकॉनॉमिक्स डेवलपमेंट [इंग्रजी] इयत्ता १२ 2 Indian Economy 1950-1990 Exercise [Pages 34 - 35]
Define a plan.
Why did India opt for planning?
Why should plans have goals?
What are high yielding variety (HYV) seeds?
What is marketable surplus?
Explain the need for land reforms implemented in the agriculture sector.
Explain the types of land reforms implemented in the agriculture sector.
What is the Green Revolution?
Why was green revolution implemented? Explain in brief.
How did the Green Revolution benefit the farmers? Explain in brief.
Explain ‘growth with equity’ as a planning objective.
Does modernisation as a planning objective create contradiction in the light of employment generation? Explain.
Why was it necessary for a developing country like India to follow self-reliance as a planning objective?
What is sectoral composition of an economy? Is it necessary that the service sector should contribute maximum to GDP of an economy? Comment.
Why was public sector given a leading role in industrial development during the planning period?
Explain the statement that green revolution enabled the government to procure sufficient food grains to build its stocks that could be used during times of shortage.
While subsidies encourage farmers to use new technology, they are a huge burden on government finances. Discuss the usefulness of subsidies in the light of this fact.
Why, despite the implementation of green revolution, 65 per cent of our population continued to be engaged in the agriculture sector till 1990?
Though public sector is very essential for industries, many public sector undertakings incur huge losses and are a drain on the economy’s resources. Discuss the usefulness of public sector undertakings in the light of this fact.
Explain how import substitution can protect domestic industry.
Why and how was private sector regulated under the IPR 1956?
Match the following:
| 1. | Prime Minister | A. | Seeds that give large proportion of output |
| 2. | Gross Domestic Product | B. | Quantity of goods that can be imported |
| 3. | Quota | C. | Chairperson of the planning commission |
| 4. | Land Reforms | D. | The money value of all the final goods and services produced within the economy in one year |
| 5. | HYV Seeds | E. | Improvements in the field of agriculture to increase its productivity |
| 6. | Subsidy | F. | The monetary assistance given by government for production activities. |
Solutions for 2: Indian Economy 1950-1990
NCERT solutions for इकॉनॉमिक्स इंडियन इकॉनॉमिक्स डेवलपमेंट [इंग्रजी] इयत्ता १२ chapter 2 - Indian Economy 1950-1990
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Further, we at Shaalaa.com provide such solutions so students can prepare for written exams. NCERT textbook solutions can be a core help for self-study and provide excellent self-help guidance for students.
Concepts covered in इकॉनॉमिक्स इंडियन इकॉनॉमिक्स डेवलपमेंट [इंग्रजी] इयत्ता १२ chapter 2 Indian Economy 1950-1990 are Post-Independence Economic Systems and Planning, Agriculture, Industry and Trade, Trade Policy: Import Substitution, Five Year Plans (FYP), India's Economy Before Independence, Low Level of Economic Development Under the Colonial Rule, Agricultural Sector in India, Industrial Sector, Demographic Condition, Occupational Structure, Infrastructure, Foreign Trade of India, Post-Independence Economic Systems and Planning, Five Year Plans (FYP), Agriculture, Industry and Trade, Trade Policy: Import Substitution, The 1991 Economic Crisis and Reforms, Background of the New Economic Policy, Liberalisation, Privatisation, Globalisation, World Trade Organisation (WTO), Impact of the Economic Reforms, India's Economy Before Independence, Low Level of Economic Development Under the Colonial Rule, Agricultural Sector in India, Industrial Sector, Demographic Condition, Occupational Structure, Infrastructure, Foreign Trade of India, Post-Independence Economic Systems and Planning, Five Year Plans (FYP), Agriculture, Industry and Trade, Trade Policy: Import Substitution, The 1991 Economic Crisis and Reforms, Background of the New Economic Policy, Liberalisation, Privatisation, Globalisation, World Trade Organisation (WTO), Impact of the Economic Reforms.
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