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Evolution of Indian Economy and Planning 03
Question
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of 15
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Q1. The Planning Commission has been abolished by the Prime MInister-
A.
Narendra Modi
B.
Morarji Desai
C.
Atal Bihari Bhajpayee
D.
I.K. Gujral
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
A
Prime Minister Narendra Modi announced its abolition in 2014, replacing it with NITI Aayog.
Q2. National Development Council was constituted on
A.
2-Aug-52
B.
6-Aug-52
C.
8-Aug-52
D.
12-Aug-52
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
B
The NDC was set up on August 6, 1952, as an advisory body to the Planning Commission.
Q3. Which is NOT within the duties of the Planning Commision?
A.
suggest allocation
B.
assess resources
C.
determine machinery
D.
prepare annual central budget
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
D
The Ministry of Finance prepares the annual Union Budget, not the Planning Commission.
Q4. The task of the Planning Commision includes:
A.
Prepration of the plan
B.
Implementation
C.
Financing
D.
None of these
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
A
The Commission was responsible for plan formulation; implementation was the job of the Ministries/States.
Q5. The period of the Eleventh Five Year Plan is:
A.
2005-2010
B.
2006-2011
C.
2007-2012
D.
2008-2013
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
C
The 11th Plan aimed for 'Faster and More Inclusive Growth'.
Q6. The broad objective of Indian Planning is:
A.
Accelerate industry
B.
Increase national income
C.
Create employment
D.
Ensure growth with justice
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
D
Social justice and equitable distribution of wealth have been core pillars of Indian economic planning.
Q7. During which Plan were steel plants at Durgapur and Bhilai established?
A.
Second Plan
B.
Third Plan
C.
Ninth Plan
D.
First Plan
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
A
The Second Plan (Mahalanobis Model) prioritized heavy industries like steel.
Q8. NITI Aayog was established by the Government of India to replace the:
A.
Human Rights Commission
B.
Finance Commission
C.
Law Commission
D.
Planning Commission
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
D
NITI Aayog (National Institution for Transforming India) was formed via an executive resolution on Jan 1, 2015.
Q9. Socialism is in favour of
A.
Free Competition
B.
Planned economy
C.
Unplanned economy
D.
Equal opportunities
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
B
Socialism advocates for state control and a planned economic approach to ensure equitable growth.
Q10. Time period of Annual Plans (Plan Holiday due to economic instability)?
A.
1990-92
B.
1987-90
C.
1992-94
D.
None of these
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
A
The Eighth Plan was delayed, leading to two annual plans between 1990 and 1992.
Q11. Mahalanobis Model is associated with which Five Year Plan?
A.
First Plan
B.
Second Plan
C.
Third Plan
D.
Fourth Plan
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
B
The model advocated for heavy industrialization and was the base for the 1956-61 plan.
Q12. Second Five Year Plan was based on:
A.
Mahalanobis Model
B.
Wage-Goods Model
C.
Harrod-Domar Model
D.
Solow Growth Model
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
A
It shifted focus from agriculture (First Plan) to heavy industry and capital goods.
Q13. Planning Commission was established in the year
A.
1950
B.
1947
C.
1975
D.
1960
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
A
It was established on March 15, 1950, through an executive resolution of the Government of India.
Q14. Which of the following is an extra-constitutional body?
A.
UPSC
B.
Finance Commission
C.
Election Commission
D.
Planning Commission
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
D
Unlike the others, which are established by Articles of the Constitution, the Planning Commission was created by a Cabinet resolution.
Q15. The term â€mixed economy†denoted:
A.
Rural and urban sectors
B.
Private and public sectors
C.
Heavy and small industries
D.
Developed and underdeveloped sectors
ANSWER & SOLUTION
MARK FOR REVIEW
Correct Answer:
B
It refers to an economic system where both the private sector and the government have a role in the economy.
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