Chapter: Fundamentals of Indian Economy and Planning
1.

National Development Council was set up in:

A. 1948
B. 1950
C. 1951
D. 1952
Answer» D. 1952
2.

Economic Planning is a subject: [Asstt Grade 1991]

A. in the Union List
B. in the State List
C. in the Concurrent List
D. unspecified in any special list
Answer» A. in the Union List
3.

For internal financing of Five Year Plans, the government depends on: [NDA 1991]

A. taxation only
B. taxation and public borrowing
C. public borrowing and deficit financing
D. taxation, public borrowing and deficit financing
Answer» A. taxation only
4.

The National Development Council gets its administrative support from:

A. Planning Commission
B. Finance Commission
C. Administrative Reforms Commission
D. Sarkaria Commission
Answer» A. Planning Commission
5.

The Five Year Plans of India intend to develop the country industrially through: [NDA 1991]

A. the public sector
B. the private sector
C. the public, private, joint and Cooperative sectors
D. increasing collaboration with non-resident Indians
Answer» C. the public, private, joint and Cooperative sectors
6.

The Planning Commission is : [UP PCS 1994]

A. a Ministry
B. a Government department
C. an Advisory body
D. an Autonomous Corporation
Answer» C. an Advisory body
7.

Which of the following statements is correct? [AAO 1993]

A. Planning Commission is a constitutional body
B. The Prime Minister is the Chairman of the Planning Commission
C. The Minister of Planning is always necessarily the Deputy Chairman of Planning Commission
D. The draft plan is prepared by the National Development Council
Answer» B. The Prime Minister is the Chairman of the Planning Commission
8.

The principal reason why national economic planning is still being pursued inspite of embracing a market economy since 1991 is that: [IAS 1994]

A. the vast quantity of capital already deployed in the public sector needs to be nurtured
B. the market economy is mainly confined to industry and commerce and central planning in agriculture is necessary
C. it is a constitutional requirement
D. Five Year Plans can continue to provide a long-term perspective to the economy in market friendly fashions
Answer» D. Five Year Plans can continue to provide a long-term perspective to the economy in market friendly fashions
9.

'Take off stage' in an economy means: [CBI 1990]

A. steady growth begins
B. economy is stagnant
C. economy is about to collapse
D. all controls are removed
Answer» A. steady growth begins
10.

Planning in India derives its objectives from:

A. Fundamental Rights
B. Directive Principles of State policy
C. Fundamental Duties
D. Preamble
Answer» B. Directive Principles of State policy
11.

70% of working population of India is engaged in:

A. public sector
B. primary sector
C. secondary sector
D. tertiary sector
Answer» B. primary sector
12.

Economic survey is published by :[IAS 1998]

A. Ministry of Finance
B. Planning Commission
C. Govt. of India
D. Indian Statistical Institute
Answer» A. Ministry of Finance
13.

Who is called the 'Father of Economics' ?

A. Max Muller
B. Karl Marx
C. Adam Smith
D. None of these
Answer» C. Adam Smith
14.

The concept of Five Year Plans in India was introduced by

A. Lord Mountbatten
B. Jawaharlal Nehru
C. Indira Gandhi
D. Lal Bahadur Shastri
Answer» B. Jawaharlal Nehru
15.

India has: [CDS 1992]

A. Socialistic economy
B. Gandhian economy
C. Mixed economy
D. Free economy
Answer» C. Mixed economy
16.

India opted for 'Mixed Economy' in :

A. Framing of the Constitution
B. Second Five Year Plan
C. Industrial Policy of 1948
D. None of the above
Answer» C. Industrial Policy of 1948
17.

Mixed economy means an economy where [CDS 2009]

A. both agriculture and industry are equally promoted by the state
B. there is co-existence of public sector along with private sector
C. there is importance of small scale industries along with heavy industries
D. economy is controlled by military as well as civilian rulers
Answer» B. there is co-existence of public sector along with private sector
18.

India's economic planning CANNOT be said to be : [NDA 2002]

A. indicative
B. imperative
C. limited
D. democratic
Answer» B. imperative
19.

Which of the following could be said to have prevented the 'trickle down' effects in Indian economy? 1. Increased dependence of agriculture on purchased inputs and privately managed irrigation 2. More employment of labour by larger landholding farmers 3. Lowered participation of women in agricultural workforce due to new technology 4. The failure of the Green Revolution

A. 1 and 2
B. 2 and 3
C. 1 and 3
D. 2 and 4
Answer» C. 1 and 3
20.

Which of the following are not correct assessments of the decades of India's Five-Year Plans? 1. There has been very low capital formation 2. Growth has favoured the better off 3. Production has increased substantially though often falling short of targets 4. The public sector has contributed nothing to economic growth

A. 1 and 4
B. 2 and 3
C. 1, 2 and 3
D. 3 and 4
Answer» A. 1 and 4
21.

Who is the Deputy Chairman of Planning Commission?

A. Prime Minister
B. Finance Minister
C. Commerce Minister
D. None of the above
Answer» D. None of the above
22.

The deputy chairman of the Planning Commission: [UP PCS 1994]

A. is the Prime Minister
B. is the Planning Minister
C. holds the rank of a cabinet minister
D. is an economist of repute
Answer» C. holds the rank of a cabinet minister
23.

Who was the first Deputy Chairman of Planning Commission of India?

A. Shri Jawaharlal Nehru
B. Dr.Rajendra Prasad
C. Shri V.T.Krishnamachari
D. Shri C.Rajagopalachari
Answer» C. Shri V.T.Krishnamachari
24.

The Planning Commission of India: I. was set up in 1950 II. is a constitutional body III. is an advisory body IV. is a government department

A. I and II
B. II and III
C. I and III
D. III only
Answer» C. I and III
25.

Put in chronological order 1. Constitution of National Planning Committee -by the Indian National Congress under Jawaharlal Nehru 2. Planned Economy for India by Visvesvaraya published 3. Bombay Plan 4. Setting up of the National Development Council

A. 1, 2, 3, 4
B. 3, 2, 4, 1
C. 2, 3, 1, 4
D. 2, 1, 3, 4
Answer» D. 2, 1, 3, 4
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