Indian Economic Development

Development Experience (1947-90)

Easy

What is meant by 'Import Substitution'?

Substituting imports with exports

Substituting exports with domestic consumption

Substituting exports with domestic production.

Substituting imports with domestic production.

✅ Correct Option: 4

Import substitution was the inward-looking trade strategy of India's early plans: goods previously imported were to be replaced by domestic production, protected through tariffs and quotas. Hence it means substituting imports with domestic production.

2022: 15 July Shift 2

Identify the feature not found amongst the poor. (Choose the correct option)

2026: 13 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Special Economic Zones	(I) Attract foreign investors.
(B) Five Year Plans	(II) Development strategies.
(C) Mixed Economy	(III) Import substitution-based industrialisation.
(D) Regulated policy framework	(IV) Co-existence of public and private sectors.

Choose the correct answer from the options given below:

2023: 1 June Shift 1

The notable estimators - Dadabhai Naoroji, William Digby, Findlay Shirras, V.K.R.V. Rao and R.C. Desai during the colonial period estimated.

2023: 29 May Shift 2

Arrange the following in order of occurrance.

A. Green Revolution

B. Setting up of Planning Commission

C. Resolution which formed on the basis of second Five Year Plan

D. Exchange rate was made fully convertable for Current Accounts

E. Karve Committee

Choose the correct answer from the options given below:

2024: 16 May

What kind of interests was the colonial government concerned with in the economic policy for Indian industries ?

2022: 15 July Shift 2

On May 12, 2020, our Prime Minister raised a clarion call to the nation giving a kick start to the Atmanirbhar BharatAbhiyaan to fight COVID-19 pandemic in India. Which long term goal of India's five year plans does this campaign reflect?

(Choose the correct alternative)

What is meant by 'Import Substitution'?

Solution

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