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Established in 1992, EPC’s primary objective was to address bottlenecks that were facing exporters and producers of export goods and services with a view to increasing the performance of the export sector.

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Which one of the following is not a long term objective of Indian planning?

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What is the value of one dollar as compared to Indian rupee in 1950?

Indian Rupee and its exchange rate historically - 1950 - 4.79 Indian Rupees to 1 American dollar 1955 - 4.79 Indian Rupees to 1 American dollar 1960 - 4.77 Indian Rupees to 1 American dollar 1965 - 4.78 Indian Rupees to 1 American dollar 1970 - 7.56 Indian Rupees to 1 American dollar 1975 - 8.39 Indian Rupees to 1 American dollar 1975 - 8.39 Indian Rupees 1980 - 7.86 Indian Rupees 1985 - 12.36 Indian Rupees 1990 - 17.50 Indian Rupees 1995 - 32.42 Indian Rupees 2000 - 44.94 Indian Rupees 2000 - 44.94 Indian Rupees 2005 - 44.09 Indian Rupees 2010 - 44 to 50 Indian Rupees.


How did export surplus during british rule lead to the economic drain of Indian wealth?

During entire British colonial period,the value & volume of India's gross exports of primary goods (food grains, cotton, raw silk,wool,jute,sugar,indigo ,etc.) exceeded the gross imports of finished consumer goods like cotton silk & woolen clothes and capital goods like light machinery manufactured in British factories.This led to generation of huge export surplus. But this surplus came as a huge cost to Indian economy.Several essential commodities(food,clothes,kerosine) were scarcely available in domestic market.This also did not result in any flow of gold or silver into India(unlike pre -British rule) .Rather,this was used to make payments to the cost of British colonial establishment(Army,navy,bureaucracy,etc) in India,war expenses & expenses on imports of invisible items.This all led to irreversible drain of Indian wealth by the British raj.


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