HISTORY
MISCELLENOUS QUESTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Failure to get overseas market due to lack sea power
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Lack of qualification and technical skill in the Indians
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Lack of the class of industrial enterprises in India
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Unprotected indigenous industry due to weak guild organizations
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Detailed explanation-1: -Explanation: There was a decline in the Indian economy on the eve of independence because during that time India had to face the ultimate shortage of goods that were produced or made in the country.
Detailed explanation-2: -Indian economy on the eve of independence was primarily an agricultural economy though industries had also started to develop in different parts of the country. Most of the economy was part of the unorganised sector.
Detailed explanation-3: -Most crucial economic challenges at the time of independence were: Little industrialisation and decline of handicrafts. Low agricultural output and high imports of grains. Low figure of national income and per capita income which showed extreme poverty.
Detailed explanation-4: -Significant drop in total demand. Demand is the main accelerator of growth in any economy. Significant drop in consumption. Incorrect GST implementation. Investment decline. Struggling banking sector. Agricultural collapse. Conclusion.