Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

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

Question:

Economic policies which have been adopted by both India and Pakistan are:

  1. Mixed economy
  2. Import-substitution 
  3. Green Revolution
  4. Five Year Plans
  5. Commerce system

Choose the correct answer from the options given below:

Options:

B, C, D and E only

C, D, E and A only

A, B, C and D only 

D, C, B and E only

Correct Answer:

A, B, C and D only 

Explanation:

While looking at various economic policies that Pakistan adopted, we will notice many similarities with India. Pakistan followed a mixed economy model with the co-existence of public and private sectors. In the late 1950s and 1960s, Pakistan introduced a variety of regulated policy frameworks (for import substitution-based industrialization). The policy combined tariff protection for the manufacturing of consumer goods together with direct import controls on competing imports. The introduction of the Green Revolution led to mechanization and an increase in public investment in infrastructure in select areas, which finally led to a rise in the production of food grains in Pakistan. Also, Pakistan introduced five-year plans. 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.