NCERT Solutions for Class 12 Indian Economic Development Chapter 10 MCQ

It is common to search out developmental strategies of a rustic as a model to others for lessons and steering for his or her own development. It’s notably evident when the introduction of the reform method in several parts of the globe. So as to find out from economic performance of our neighbouring countries, it’s necessary to possess an understanding of the roots of their successes and failures. It’s conjointly necessary to differentiate between, and distinction, the various phases of their methods. Although countries bear their development phases otherwise, allow us take the initiation of reforms as some extent of reference.

We all know that reforms were initiated in China in 1978, Pakistan in 1988 and India in 1991. Allow us to shortly assess their achievements and failures in pre- and post-reform periods. Why did China introduce structural reforms in 1978? China failed to have any compulsion to introduce reforms as set by the World Bank and International Monetary Fund to India and Pakistan.

The new leadership at that point in China wasn’t proud of the slow pace of growth and lack of modernisation within the Chinese economy underneath the Maoist rule. They felt that Maoist vision of economic development supported spread, autonomy and rejection of foreign technology, merchandise and capital had unsuccessful. Despite in depth land reforms, constitutions, the Great Leap Forward and alternative initiatives, the per capita grain output in 1978 constant because it was within the mid-1950s. Students argue that in Pakistan the reform method led to worsening of all the economic indicators. We’ve got seen in an earlier section that compared to 1980s, the expansion rate of GDP and its sectoral constituents haven’t yet improved.

What are we learning from the developmental experiences of our neighbours? India, China and Pakistan have travelled seven decades of developmental path with varied results. Until the late 1970s, all of them were maintaining an equivalent level of low development. The last 3 decades have taken these countries to totally different levels. India, with democratic establishments, performed moderately, however a majority of its folks still rely upon agriculture. India has taken several initiatives to develop the infrastructure and improve the quality of living. Students are of the opinion that political instability, over-dependence on remittances and economic aid beside volatile performance of agriculture sector are the explanations for the hold-up of the Pakistan economy.

Yet, last 5 years, several economic science indicators began showing positive and moderate growth rates reflecting the economic recovery. In China, the shortage of political freedom and its implications for human rights are major concerns; however, within the last four decades, it used the market system while not losing political commitment and succeeded in raising the extent of growth beside alleviation of economic condition. You may conjointly notice that in contrast to India and Pakistan, that are trying to denationalize their public sector enterprises, China has used the market to make further social and economic opportunities.

By holding collective possession of land and permitting people to cultivate lands, China has ensured social security in rural areas. Public intervention in providing social infrastructure even before reforms has led to positive leads to human development indicators in China.