Match the following. 1. The stra

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Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Indian Economy:1950-1990

Question:

Match the following.

1.	The strategy used for self-reliance	A.	Small scale industries
2.	Labour absorbing	B.	Land ceilings
3.	Agricultural reforms	C.	IPR 1956
4.	3 fold classification of the industry	D.	Import substitution

Options:

1-D, 2-A, 3-C, 4-B

1-D, 2-C, 3-A, 4-B

1-D, 2-A, 3-B, 4-C

1-A, 2-D, 3-C, 4-B

Correct Answer:

1-D, 2-A, 3-B, 4-C

Explanation:

India's economy was dependent on foreign goods for its sustenance, thus, an import substitution policy/ inward-looking trade policy was introduced by the officials to make self-reliant
The manufacturing sector is the most labor-absorbing sector. As huge capital cannot be afforded by everyone government emphasizes the development of SSI i.e. small-scale industries.
Agriculture reforms included land ceilings to reduce the concentration of ownership in the country.
Industrial Policy Resolution 1956 (IPR 1956): This resolution classified industries into three categories. The first category comprised industries that would be exclusively owned by the state; the second category consisted of industries in which the private sector could supplement the efforts of the state sector, with the state taking the sole responsibility for starting new units; the third category consisted of the remaining industries which were to be in the private sector.