| Consider the following statements. |
| 1. Indian economy nearly stagnated under colonial rule. |
| 2. Foreign investment was discouraged in the early decades post-independence. |
| 3. Central economic planning in India started only after independence. |
| Which of the statement(s) given above is/are correct? |
A) 1 and 2
B) Only 3
C) 2 and 3
D) All of these
Correct Answer: A
Solution :
[a] Central economic planning started with the setting up of the National Planning Committee (1938). Foreign investment was discouraged because of the colonial experience of drain of wealth and the stagnant performance of the economy under the colonial rule. It grew by 0% between 1600 and 1870 and a meagre 0.2% between 1870 to 1947,
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