Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Indian Economy:1950-1990

Question:

The emphasis of self-reliance in the five-year plans of India was deemed necessary to decrease the country's reliance on foreign nations particularly in respect of which of the following good (s)?

Options:

petroleum and natural gas

food

capital goods

all of the above

Correct Answer:

food

Explanation:

A nation can stimulate economic growth and modernization through the utilization of its own resources or by importing resources from other countries. The initial seven five-year plans placed significant emphasis on self-reliance, which entailed avoiding imports of goods that could be produced within India. This policy was deemed necessary to decrease the country's reliance on foreign nations, particularly concerning food . Given the recent liberation from foreign domination, it is understandable that prioritizing self-reliance was crucial. Moreover, there were concerns that depending on imported food supplies, foreign technology, and foreign capital might expose India's sovereignty to potential foreign interference in policymaking.