Economy One-Liners for various competitive examinations

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Economy One-Liners for various competitive examinations


Thank You for landing the Economy and Business section page.

Here are some important Economy one-liners for students competing for various exams

Watch some of the important Economy Bits below.

1- Tata Iron and Steel Company (TISCO) was incorporated in the year 1907.

2-Among different types of economic system, Pandit Jawaharlal Nehru, the first Prime Minister of India, suggested ‘Socialist Economy’.

Jawaharlal Nehru
Jawaharlal Nehru

3- Mixed economy was finally chosen with the help of Industrial Policy Resolution of 1948 and Directive Principle of Indian Constitution.

4-Planning Commission was set up in 1950, and the Prime Minister of India was made the chairperson of the commission.

5-Industrial Policy Resolution is a resolution adopted by the Indian Parliament in 1956. It was formulated under the Second Five-Year Plan.

6-In 1955, Village and Small-Scale Industries Committee, also known as Karve Committee proposed to promote small-scale industries for rural development.

7-P.C. Mahalanobis is a well-known architect of Indian Planning.

P.C. Mahalanobis
P.C. Mahalanobis






8-The second five-year plan was based on the ideas of Mr. Mahalanobis. In a real sense, the second five-year plan was the beginning of economic planning in India.

9-The Indian Statistical Institute in Calcutta was established by Mahalanobis. He also started a journal ‘Sankya.

10-Gross Domestic Product (GDP) is the value of all goods and services produced by all the three sectors( Primary Sector, Secondary Sector and Tertiary Sector) over a period of time.

11-The tertiary sector contributes the most to the GDP of our country.

12-The primary sector still has a large portion of India’s population occupied in it.

13-As per the government’s policy ‘National Rural Employment Guarantee Act 2005 (NREGA 2005)’, people who are in need of work will be given guaranteed 100 days employment in a year.

14-The first synchronous Census in India was conducted in 1881. The censuses are being conducted at ten-year intervals.

15-The Right to Education Act of 2009, makes education a fundamental right for all children aged between 6 and 14.

Also, watch another article on Economy here

Watch Current Affairs section for here 

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