Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Indian Economy:1950-1990

Question:

When did India start giving serious thought to promoting exports?

Options:

In the first seven plans

In the mid-1980s

In the mid-1970s

In the mid-1990s

Correct Answer:

In the mid-1980s

Explanation:

The policy of protection followed by India was based on the notion that industries of developing countries were not in a position to compete against the goods produced by more developed economies.There was also a fear of foreign exchange being spent on import of luxury goods if no restrictions were placed on imports. Nor was any serious thought given to promote exports until the mid-1980s.