Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Comparative Development Experiences of India and its Neighbours

Question:

Read the following passage and answer the question :

After the establishment of People's Republic of China, all critical sectors of the economy were brought under Government control. The campaign initiated in 1958 aimed at industrialising the country on a massive scale by allowing people to set up industries in their back yards. In rural areas, people collectively cultivated lands. In 1965, Mao introduces a system under which students and professionals were sent to work and learn from the country side. Compared to its neighbours like India and Pakistan, China has low population growth but there will be more elderly people in proportion to young people after a few decades.

Identify the year in which structural reforms were introduced in China ?

Options:

1958

1965

1971

1978

Correct Answer:

1978

Explanation:

The correct answer is option (4) : 1978

1. The year in which structural reforms were introduced in China was 1978 (4).

2. These reforms led to the transformation of the Chinese economy from a centrally planned system to a more market-oriented one.

3. These reforms played a crucial role in opening up China to foreign investment and encouraging the development of a market economy, leading to significant economic growth and development.