Economic Development — Flashcards
Maharashtra Board · Class 9 · History and Political Science
22 flashcards for Economic Development (Maharashtra Board Class 9 History and Political Science) to test yourself on key terms and facts.
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What is a Mixed Economy and why did India adopt it after independence?
Answer
A Mixed Economy combines both private and public sectors. It has three parts: (1) Public Sector - controlled by government (e.g., defense equipment), (2) Private Sector - owned by private industrialis…
When was the Planning Commission established and who was its first Chairman?
Answer
The Planning Commission was established in 1950 with Prime Minister Pandit Jawaharlal Nehru as its first Chairman. It was created to formulate India's five-year plans for economic development.
List any 5 goals of India's economic planning.
Answer
The goals include: (1) Increase in national income, (2) Rapid industrialization focusing on basic industries, (3) Increase agricultural production for food self-sufficiency, (4) Optimal use of human r…
What were the main focus areas of the First Five Year Plan (1951-1956)?
Answer
The First Five Year Plan focused primarily on agriculture, social development, irrigation and flood control, energy sources, rural and small industries, heavy industries and minerals, transport and co…
Name the major industrial projects established during the Second Five Year Plan (1956-1961).
Answer
Major projects included: Iron and steel industries at Durgapur, Bhilai and Rourkela; Chemical fertilizers plant at Sindri; Rail engine factory at Chittaranjan; Railway bogies factory at Perambur; Ship…
Why were three one-year plans implemented between 1966-1969 instead of the regular five-year plan?
Answer
This period faced intense challenges: severe famine, invasion by China, war with Pakistan (requiring focus on defense), and economic stress. The government had to tackle famine effects and defense pri…
What major banking reform took place during the Fourth Five Year Plan (1969-1974)?
Answer
14 major banks in the country were nationalized during this plan. However, the plan did not succeed as expected due to the burden of the Bangladesh War, expenditure on refugees, pay raises for governm…
What happened to the Fifth Five Year Plan and what replaced it temporarily?
Answer
The Fifth Five Year Plan (1974-1979) was ended by the Janata Party government in March 1978. They started a Rolling Plan from April 1978, but it failed. When Congress returned to power in 1980, they c…
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