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Set – 1


  1. What are the stages of planning in India? Also discuss the objectives of Planning in India. 4+6

Ans 1.

Stages of Planning in India


The economic environment of India has been significantly shaped by its planning stages, which have evolved over time. Planning in India, primarily executed through Five-Year Plans, has been instrumental in steering the country’s development path. These plans are crafted by the Planning Commission (now replaced by the NITI Aayog) and are aimed at improving the nation’s overall socio-economic fabric.

Early Stages (1951-1990) The initial stages of planning in India, starting with the First Five-Year Plan in 1951, were

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  1. Discuss the significance of Capital formation. What are the types of productivity ratios. 8+2

Ans 2.

Significance of Capital Formation in India

Capital formation is a critical component of economic development, particularly in a rapidly evolving economy like India. It refers to the process of building up the stock of real capital in a country. This involves the increase of physical assets such as buildings, machinery, and infrastructure, and it plays a pivotal


  1. Discuss in detail the different types of reforms which came up in India as a result of Liberalisation. 10

Ans 3.

Economic Reforms in India Due to Liberalisation

The liberalisation of the Indian economy, initiated in 1991, marked a paradigm shift from the earlier government-controlled system to a liberalised and market-driven economy. This transformative phase brought about a series of economic reforms that significantly altered the landscape of the Indian economy. The major reforms can be categorised into several types, each aiming to liberalise


Set – 2


  1. Discuss the role of public sector in economic development. 10

Ans 1.

The Role of Public Sector in Economic Development

The public sector plays a crucial role in the economic development of a country, particularly in a diverse and rapidly growing economy like India. This role can be viewed through various lenses including infrastructure development, industrial growth, social welfare, and economic stability.

Infrastructure Development: One of the primary roles of the public sector in economic development is the creation


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  1. Write a short note on – Issue of Privatization. Also discuss the problems faced by the public sector in India. 3+7

Ans 2.

Issue of Privatization in India

Privatization, the process of transferring ownership of a business, enterprise, agency, or public service from the public sector to the private sector, has been a significant economic policy in India, especially since the economic liberalization in the 1990s. This move is often seen as a strategy to enhance efficiency and competitiveness in various sectors. Privatization in India has been


  1. Discuss in detail the importance of transportation in Indian scenario. 10

Ans 3.

Importance of Transportation in the Indian Scenario

Transportation plays a crucial role in the economic environment of any country, particularly in a diverse and geographically expansive nation like India. In India, the transportation sector is not just a facilitator of economic activities but also a significant contributor to the nation’s GDP. Its importance can be dissected into various aspects:

Economic Growth and Development

Transportation is the backbone of India’s economic growth. It enables the movement of goods and people across the country,