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Evolution of Indian Economy and Planning 01
Question
1
of 15
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15
Q1. Who is the Chairman of the Planning Commission in India?
A.
President
B.
Vice President
C.
Prime Minister
D.
Finance Minister
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
C
By tradition and law
Q2. Which Five Year Plan focused on growth with social justice and equality?
A.
VI
B.
VII
C.
VIII
D.
IX
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
D
The Ninth Five Year Plan (1997-2002) aimed at social justice and equality as its primary goals.
Q3. Who was the First Chairman of Planning Commission of India?
A.
M. Viswesvarya
B.
Pt. Jawahar Lal Nehru
C.
P.C. Mahalanobis
D.
John Mathai
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
B
As the first Prime Minister
Q4. Which is the final authority in India to approve Five Year Plan?
A.
Union Council of Ministers
B.
Planning Commission
C.
Prime Minister
D.
None of these
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
D
The National Development Council (NDC) was the final body responsible for approving the plans.
Q5. Who is known as father of economics?
A.
Adam Smith
B.
Max Muller
C.
Joy Chaterjee
D.
Amritya Sen
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
A
Adam Smith is considered the father of modern economics after his work 'The Wealth of Nations'.
Q6. What is Autarchy?
A.
Gradual increase
B.
Gradual decline
C.
Self sufficiency and self reliance
D.
External dependence
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
C
An autarky is an economic system that is self-sufficient and does not engage in international trade.
Q7. The Rolling Plan for backward countries was suggested by:
A.
Gunnar Myrdal
B.
W.A. Lewis
C.
R. Nurkse
D.
Samuelsn
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
A
Gunnar Myrdal proposed the rolling plan concept in his book 'Asian Drama'.
Q8. What was the period of Plan Holiday?
A.
1966-69
B.
1951-56
C.
1956-61
D.
1961-66
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
A
The period 1966-1969 consisted of three annual plans after the failure of the Third Five Year Plan.
Q9. Which Indian got Nobel Prize for Economics?
A.
Teressa
B.
Amarthiya Sen
C.
V.Raman
D.
None of above
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
B
Amartya Sen was awarded the Nobel Prize in Economic Sciences in 1998 for his contributions to welfare economics.
Q10. For which period was the Rolling Plan made?
A.
1978-1983
B.
1980-1985
C.
1950-1953
D.
1965-1958
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
A
The Janata Party government introduced the Rolling Plan for the period 1978-83 after terminating the Fifth Five Year Plan.
Q11. A rolling plan refers to a plan which:
A.
does not change targets
B.
changes allocations every year
C.
changes allocations and targets every year
D.
changes only its targets every year
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
C
A rolling plan is flexible; targets and allocations are reviewed and adjusted at the end of each year.
Q12. When was disinvestment started in public enterprises?
A.
1990-91
B.
1991-92
C.
1992-93
D.
1956
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
B
Disinvestment in India began in 1991-92 following the 1991 Industrial Policy and Economic Liberalization.
Q13. The Deputy Chairman of the Planning Commission?
A.
HRD Minister
B.
Finance MInister
C.
Holds the rank of a Cabinet minister
D.
is an economist of repute
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
C
The Deputy Chairman of the Planning Commission enjoyed the rank and status of a Union Cabinet Minister.
Q14. Who among the following was the first Chairman of the Planning Commission?
A.
Dr Rajendra Prasad
B.
Pandit Jawaharlal Nehru
C.
Sardar Vallabhbhai Petel
D.
JB Kriplani
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
B
The Prime Minister of India serves as the ex-officio Chairman of the Planning Commission.
Q15. In which Five Year Plan, Economic Development Rate was maximum?
A.
First Plan
B.
Fourth Plan
C.
Sixth Plan
D.
Tenth Plan
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
D
The 10th Plan (2002-2007) targeted an 8% growth rate and achieved a significant increase compared to previous plans.
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