GK
INDIAN ECONOMY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Market was not big enough to encourage prive industrialists
|
|
|
Private industrialists lack with capital to invest
|
|
|
Policy makers tried to develop Indian economy on socialistic lines
|
|
|
All of these
|
Detailed explanation-1: -Low Level of Demand: At the time of independence, the majority of population was poor and had low level of income. Consequently, there was low level of demand and so there was no impetus for any private sector to undertake investment in order to fulfill these demands.
Detailed explanation-2: -There was neither much private capital nor did India have international investment credibility so as to attract foreign investment. Moreover, Indian planners did not want to be dependent on foreign capital for economic development. In such a situation, it was only the public sector that could take the initiative.
Detailed explanation-3: -It generates financial resources for further development. It ensures equality of income wealth and thus a balanced regional development. The public sector plays a vital role in contributing to the Human Development Index via its functioning in health and education services.
Detailed explanation-4: -The public sector undertakes a variety of activities that include infrastructure development, employment generation, and the promotion of exports. Some of the objectives of the public sector in India are: to promote industrialization; generate employment; develop infrastructure and promote exports.