Post Liberalization Era - Indian Economy-Strategy of Industrialization [IAS (Admin.) Mains Economics]: Questions 1 - 5 of 9

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Question 1

Describe in Detail Subjective▾

What is industrial policy? Why it is needed and analyzes the pros and cons of the same?

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Explanation

India was endowed with great economy since ancient times but the colonial exploitation has ruined the economy and after the independence the struggle start to get the economy Indianan and favorable for the people of India because the economy was going through inequalities, poverty, starvation.

Industrial Policy
  • After the independence economist, agree…

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Question 2

Appeared in Year: 2019

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Do you think that India failed to acquire the ability to design, fabricate and erect its own plants without foreign assistance? Comment on the Make in India policy of the government of India in this light.

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Explanation

  • The Make in India is an initiative of the Modi government in the year 2014 with the aim of making India a global manufacturing hub. Soon after the announcement of the program, state government also takes their own initiatives to transfer India (to a manufacturing hub) . Even at the very beginning (in 2015) India tops the list of destination that ha…

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Question 3

Appeared in Year: 2019

Describe in Detail Subjective▾

Are investment decisions based on commercial judgements superior to allocation of resources through planning on the basis of preconceived notions of social desires? Elaborate your answer comparing the July 1991 industrial policy to the earlier policies. Is this change beneficial for the Indian economy? Discuss.

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Explanation

  • Yes. Investment decisions based on commercial judgements are superior to allocation of resources through planning on the basis of preconceived notions of social desires (in my opinion) . Because commercial judgements are highly based on circumstances or events that are already happened or data whereas planning has many drawbacks and is not based on…

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Question 4

Appeared in Year: 2018

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What is your opinion is the present outlook in respect of the industrial performance of the Indian economy for 2018 - 19? What are the favorable factors, risks, and challenges in this regard?

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Explanation

Industrial Sector
  • Industrial sector which constitutes mining, manufacturing, electricity, and construction registered a growth of 6.9 per cent during 2018 - 19, as against a growth of 5.9 per cent during 2017 - 18. This was mainly due to the robust growth of 8.7 per cent and 6.9 per cent in the construction and manufacturing sector respectively. The…

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Question 5

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India is presently facing dual challenges of developing skills and using skills. Discuss.

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Explanation

Picture Shows About Skill Development
  • Indian economy is facing dual challenges of developing skills and using skills.
  • The global economies are competing with each other to achieve high GDP growth, high per capita income and thereby high standard of living.
  • Technological advancement in each sectors of the economy helps to achieve all these above stated…

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