Chronologically arrange the development path of India :
(A) Adoption of Second Industrial Policy Resolution
(B) Demonetisation
(C) Setting up of the planning commission
(D) Adoption of new economic policy
Choose the correct answer from the options given below :
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → (C), (A), (D), (B)
(C) Setting up of the planning commission — 1950.
(A) Adoption of Second Industrial Policy Resolution — 1956. The first resolution came in 1948.
(D) Adoption of new economic policy — 1991.
(B) Demonetisation — November 2016.
NCERT (2026-27): “2.1 Introduction … In 1950, the Planning Commission was set up with the Prime Minister as its Chairperson.… Industrial Policy Resolution 1956 (IPR 1956): …In accordance with the goal of the state controlling the commanding heights of the economy, the Industrial Policy Resolution of 1956 was adopted. This resolution formed the basis of the Second Five Year Plan, the plan which tried to build the basis for a socialist pattern of society.…” NCERT (2026-27), chapter ‘Liberalisation, Privatisation and Globalisation: An Appraisal’: “3.1 Introduction … In 1991, India met with an economic crisis relating to its external debt — the government was not able to make repayments on its borrowings from abroad; foreign exchange reserves, which we generally maintain to import petroleum and other important items, dropped to levels that were not sufficient for even a fortnight.…” NCERT (2026-27), chapter ‘Liberalisation, Privatisation and Globalisation: An Appraisal’: “3.2 Background … India agreed to the conditionalities of World Bank and IMF and announced the New Economic Policy (NEP). The NEP consisted of wide ranging economic reforms.…”
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