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Answer the following. (Class 12 Economics 2026, Q33a)

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EconomicsCBSE Class 12 · Board exam 2026, set 58/5/1 · 6 marks · Long answer

CBSE Class 12 Economics 2026: question 33(a)

Set in the CBSE Class 12 board exam of 2026, paper 58/5/1, section B, question 33(a), for 6 marks. Try it first; the hints and our step-by-step solution are below.

Q33(a) · 6 marks · Long answerIndian Economy 1950-1990

Answer the following.

  1. (i)

    "The Industrial Policy Resolution (IPR), 1956 classified all the industries based on state ownership and control in various categories."
    Do you agree with the above statement ? Give valid reasons in support of your answer.

    3 marks
  2. (ii)

    "The economic reforms of 1991 adversely affected the Indian agriculture sector."
    Do you agree with the above statement ? Give valid reasons in support of your answer.

    3 marks

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 58/5/1.

Hints

Open one hint at a time and try again before the next.

Hint 1

IPR 1956 had three schedules of industries.

Hint 2

What happened to public investment and subsidies after 1991?

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. (i) Yes, I agree. IPR 1956 put industries into three categories. The first category was to be exclusively owned by the state.

    1 mark

  2. (i) In the second category the private sector could supplement the public sector, but the state alone would start new units.

    1 mark

  3. (i) The third category, the remaining industries, was left to the private sector, but kept under state control through industrial licensing.

    1 mark

  4. (ii) Yes, I agree. After 1991, public investment in agriculture, especially in infrastructure such as irrigation and power, fell.

    1 mark

  5. (ii) Fertiliser subsidies were reduced, raising the cost of production and hurting small and marginal farmers.

    1 mark

  6. (ii) Lower import duties and liberalised trade exposed Indian farmers to international competition (and the shift towards export cash crops raised the prices of food grains).

    1 mark

Answer: (i) Agree: IPR 1956 classified industries into three state-ownership categories. (ii) Agree: lower public investment, reduced subsidies and foreign competition hurt agriculture.

Where the marks are

  • Three categories of IPR 1956 (1 each)
  • Three reasons agriculture was hurt by reforms (1 each)

Revise the chapter

Practise this chapterBoard-style questions from Indian Economy 1950-1990, one at a time, marked against the answer key and marking points.Back to the full paper2026 board paper, set 58/5/1: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.