Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:

Which of the following sectors do not provide immediate returns to the investment that have been put in by the Indian Government in post Independence period?

Options:

Social sector

Defense sector

Both 1 and 2

None of the above

Correct Answer:

Both 1 and 2

Explanation:

Social sector means all development and welfare activities and includes health, education whereas, defense sector involves army, air force and navy. All the investment done in these sectors do not result in immediate returns to the economy as it takes time for the investment to grow in these sectors. Expenses incurred on defense sector is done with the motive of national security and not to maximize profit. Coming to social sectors including health, education etc., mere opening of schools or MBBS colleges in the country will not make everyone qualified to contribute in the development of the economy. It is a long term process involving 20-25 years of education.