Target Exam

CUET

Subject

Economics

Chapter

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

Question:

As a rational citizen of a country, it is crucial to have a deep understanding of the developments in your country. In fact, it is also very important to learn about the developmental processes of your neighbouring countries. Not only citizens but countries are also eager to understand the developmental system of their neighbours. This understanding enables comprehension of strengths and weaknesses of yours as well as the neighbouring countries. Due to the process of globalization, it is essential for every nation to compete with developed countries. Hence, it is important to study the comparative development of India and its Neighbours. Indian and its neighbours – Pakistan and China, have very similar development strategies as an economy as a whole. A few such similarities in their development strategies are that all three countries, India, Pakistan and China began towards their economic development at the same time. In addition, India and Pakistan attained independence in the year 1947. However, China was an independent economy in the year 1949. India and Pakistan began with similar strategies for creating larger public sector units. And soon began working on raising public expenditure on social development. All the countries began planning their development strategies in a very similar fashion. India made an announcement of its first 5-year plan in the year 1951. However, Pakistan made its 5-year plan announcement in the year 1956. China, on the other hand, had made this announcement in the year 1953. Up until the 1980s, all 3 countries had very similar growth rates and per capita incomes. Economic reforms took place in all the 3 countries – India, China and Pakistan.

Which of the following statement is incorrect?

Options:

India, Pakistan and China have many similarities in their developmental strategies

 All the three nations have started towards their developmental path at the same time.

While India and Pakistan became independent nations in 1947, People’s Republic of China was established in 1948.

Since 2018, Pakistan is working on the basis of 12th Five Year Development Plan (2018–23), whereas, China is working on 14th Five Year Plan (2021–25).

Correct Answer:

While India and Pakistan became independent nations in 1947, People’s Republic of China was established in 1948.

Explanation:

The correct answer is Option 3: While India and Pakistan became independent nations in 1947, People’s Republic of China was established in 1948. 

While India and Pakistan became independent nations in 1947, People’s Republic of China was established in 1949.

NCERT: "India, Pakistan and China have many similarities in their developmental strategies. All the three nations have started towards their developmental path at the same time. While India and Pakistan became independent nations in 1947, People’s Republic of China was established in 1949. In a speech at that time, Jawaharlal Nehru had said, “These new and revolutionary changes in China and India, even though they differ in content, symbolise the new spirit of Asia and new vitality which is finding expression in the countries in Asia.” All three countries had started planning their development strategies in similar ways. While India announced its first Five Year Plan for 1951–56, Pakistan announced its first five year plan, now called the Medium Term Development Plan, in 1956. China announced its First Five Year Plan in 1953. Since 2018, Pakistan is working on the basis of 12th Five Year Development Plan (2018–23), whereas, China is working on 14th Five Year Plan (2021–25). Until March 2017, India has been following Five Year Plan- based development model. India and Pakistan adopted similar strategies, such as creating a large public sector and raising public expenditure on social development. Till the 1980s, all the three countries had similar growth rates and per capita incomes. Where do they stand today in comparison to one another? Before we answer this question, let us trace the historical path of developmental policies in China and Pakistan. After studying the last three units, we already know what policies India has been adopting since its Independence.