Indian Economic Development

Economic Reforms (1991)

Medium

Which of the following is correct about the economic development of India during the five year plans?

The first five year plan was having core focus on the industrial development.

Manufacturing sector became largest contributor in GDP of India after liberalisation.

Service sector became largest contributor in GDP of India after liberalisation.

The phenomenon of growing share of the service sector was accelerated prior to 1980s period.

✅ Correct Option: 3

After the 1991 liberalisation, the service sector emerged as the largest contributor to India's GDP, so option 3 is correct. The First Five Year Plan focused on agriculture, not industry; manufacturing never became the largest contributor; and the acceleration in the service sector's share occurred after 1991, not before the 1980s.

2026: 13 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Industrial Sector Reforms	(I) Role of RBI from regulator to facilitator
(B) Financial Sector Reforms	(II) Dereservation and price fixation by market
(C) Disinvestment	(III) Selling off part of the equity of PSEs.
(D) Outsourcing	(IV) Hiring regular service from external sources.

Choose the correct answer from the options given below:

2026: 31 May Shift 1

After agreeing on the conditions of World Bank and IMF India announced which of the following policy?

2023: 11 June Shift 3

Match List - I with List - II.

List - I (Policy tools) | List - II (Characteristics)

(A) Disinvestment | (I) Hiring of regular services from External source

(B) Out sourcing | (II) Integration of the economy of the country with the world economy

(D) GATT | (IV) Privatisation of the public enterprises by selling off part of public equity sector

Choose the correct answer from the options given below :

2023: 28 May Shift 2

Adoption of new technology is called __________.

2024: 16 May

Second phase of Green Revolution is termed from

2023: 1 June Shift 1

Identify the statement associated with Indian Economic Crisis of 1991?

Which of the following is correct about the economic development of India during the five year plans?

Solution

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