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Indian Economy 1950-1990

Madhya Pradesh Board · Class 11 · Economics

Quick revision notes for Indian Economy 1950-1990 — Madhya Pradesh Board Class 11 Economics. Key concepts, formulas, and definitions for last-minute revision.

115 questions80 flashcards5 concepts

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Key Topics to Revise

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1. Economic System and Planning

  • India became independent on 15 August 1947.
  • Jawaharlal Nehru preferred socialism, but not the Soviet type where all means of production were owned by the government and there was no private property.
  • India adopted a mixed economy, which combines public sector planning with private property and democracy.
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2. Goals of Five Year Plans

  • The main goals of five year plans were growth, modernisation, self-reliance, and equity.
  • Growth means increase in the country's capacity to produce goods and services.
  • Modernisation means using new technology and also bringing social change, such as greater recognition of women at work.
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3. Agriculture: Land Reforms and Green Revolution

  • At independence, about 75 per cent of the population depended on agriculture.
  • Agriculture had low productivity because of old technology and lack of infrastructure.
  • Land reforms aimed at changing ownership of landholdings and improving equity in agriculture.
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4. Industry, Public Sector, and Trade Policy

  • At independence, India had a narrow industrial base mainly in cotton textiles and jute.
  • There were two well-managed iron and steel firms, one in Jamshedpur and the other in Kolkata.
  • The role of the public sector became important because private industrialists did not have enough capital for large projects and markets were limited.

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Key Concepts

India chose an economic system combiningThese were fiveThe four goals were growthPrasanta Chandra Mahalanobis was the architectLand reforms focused on abolishing intermediaries

Frequently Asked Questions

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Indian Economy 1950-1990 covers several key topics that are frequently asked in Madhya Pradesh Board Class 11 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Indian Economy 1950-1990 — Madhya Pradesh Board Class 11 Economics?
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Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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