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Indian Economy 1950-1990 — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsIndian Economy 1950-19903 Marks
Question
Explain the policy of protection in industries.
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Answer

  1. Policy of protection in industries facilitated the development of indigenous industries.
  2. This policy protected the domestic industries from foreign competition. Protection from imports took two forms, that of tariffs and quotas.
  3. It was based on the belief that industries of developing countries could not face the competition from goods produced by the industries of developed countries.

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