Which committee was set up in 1955 to suggest the role of small-scale industries promoting rural development?
Karve committee
India's economic development journey has involved setting up various committees to study specific sectors and recommend policies. One key area has been the development of small-scale industries, particularly their role in promoting rural development and creating employment opportunities in villages and towns.
The question asks about a specific committee established in 1955 to suggest the role of small-scale industries in promoting rural development. Let's look at the options provided and their relevance:
Based on the mandates and timelines of these committees, the committee specifically set up in 1955 to suggest the role of small-scale industries in promoting rural development was the Karve Committee.
The Karve Committee, established in 1955 during India's Second Five-Year Plan period (1956-1961), was tasked with recommending policies for the growth of village and small-scale industries. The Second Five-Year Plan placed a strong emphasis on industrialization, and the Karve Committee's role was to ensure that this push for industry also benefited the rural economy and addressed employment challenges. The committee advocated for decentralized industrial development, focusing on small-scale and village industries to spread economic activity across the country, particularly in rural areas.
Key aspects related to the Karve Committee:
Therefore, the committee that fits the description is the Karve committee.
| Committee Name | Year of Establishment | Primary Focus Area |
|---|---|---|
| Mahalanobis committee | 1960 | Income distribution and levels of living |
| Tendulkar committee | 2005 | Poverty estimation methodology |
| Karve committee | 1955 | Role of village and small-scale industries in rural development and employment |
| Gokhale committee | Various periods | Context-dependent, not primarily known for 1955 small industries focus |
The committee set up in 1955 specifically to explore and suggest the role of small-scale industries in promoting rural development was the Karve committee.
| Committee | Year | Main Purpose |
|---|---|---|
| Karve Committee (Village and Small-Scale Industries Committee) | 1955 | Role of small-scale and village industries in rural development and employment. |
| Mahalanobis Committee | 1960 | Study of income distribution and living standards. |
| Tendulkar Committee | 2005 | Reviewing poverty estimation methodology. |
Small-scale industries (SSI) have historically been a crucial part of the Indian economy, recognized for their potential to generate employment, ensure a more equitable distribution of national income, and promote balanced regional development, especially in rural and semi-urban areas. The Indian government has, over the years, implemented various policies and programs to support the growth of the SSI sector, often guided by recommendations from expert committees like the Karve Committee. The focus on decentralized production and the promotion of traditional crafts and industries has been a consistent theme in India's industrial policy, aiming to link industrial growth with rural upliftment.
If the value of Investment Multiplier is 5 and the increased income is ₹ 800 crore in an economy, then find the value of change in the investment in the economy.
Which of the following statements are true?
(A) Quantitative tools control the extent of money supply by changing the CRR.
(B) There are two types of open market operations – outright and upright.
(C) A fall in the bank rate can decrease the money supply.
(D) Selling of a bond by RBI leads to reduction in quantity of reserves.
(E) The RBI can influence money supply by changing the rate at which it gives loan to the commercial banks.
Choose the correct answer from the options given below:
Paradox of Thrift means :
Match List-I with List-II:
| List-I | List-II |
|---|---|
| (A) Bank Rate | (I) Securities are pledged in order to repurchase |
| (B) Marginal Standing Facility | (II) Minimum rate at which funds are provided for long term |
| (C) Repo Rate | (III) Also known as Penal Interest Rate |
| (D) Reverse Repo Rate | (IV) Central Bank borrows funds from commercial banks |
Choose the correct answer from the options given below:
Which of the following is not a function of Central Bank ?