Question

O10: What is modemention?
Q11: What is import substitution and export promotion strategies?
012: What are the importance of small scale industries?
013: State four feature of economic policy as pursedin India till 1991
014: Comment the economic condition of tillers of soil at the time of independen
015: How GDP growth is linked with foreign trade of a Country?
018: What are the technical measure adopted to improve agriculture ?
017: Explainthe objective of planning commission?​

Answer 1

ANSWER↓

1. Merits of Mode and Demerits. Merits of Mode : The mode or modal value of a distribution is that value of the variable for which the frequency is maximum. The number which is repeated maximum number of times is the mode.
2. The strategy uses tariffs, import-quotas and subsidies to promote and protect import-substitute industries. In contrast, an outward-looking strategy emphasises participation in international trade by encouraging the allocation of resources in export-oriented industries without price distortions.
3. Small scale industries are important because it helps in increasing employment and economic development of India. It improves the growth of the country by increasing urban and rural growth.
4. (i) Import Liberalisation. Government removed many restrictions from import of capital goods. (iv) Abolition of Export duty. (v) Reduction of Import duty.
5. At the time of independence the tillers and cultivators of land were in a very poor condition. They were forced to pay huge revenue to the zamindars in the form of money as well as foodgrains. ... They remained impoverished and in a state of poverty.
6. Foreign trade enlarges the market for a country's output. Exports may lead to increase in national output and may become an engine of growth. Expansion of a country's foreign trade may energise an otherwise stagnant economy and may lead it onto the path of economic growth and prosperity.
7. Land reform was the main focus of the government in the First Five Years' Plan. It aimed at consolidation of land holdings, abolition of the zamindari system etc. During the 1960's and 1970's, many agricultural reforms were introduced in agriculture to enhance production. The Green Revolution was such a measure.
8. The main objective of planning commission was to improve the standard of living of the ordinary citizens by optimizing the use of available human resource, production and creating employment opportunities. Today, NITI AAYOG is responsible for periodic economic assessment of resources.