Practice Quiz set 1 - indian economy mcq Online Quiz (set-1) For All Competitive Exams
Q-1) How many part-time members are there in Niti Aayog?
(a)
(b)
(c)
(d)
Maximum of two from leading universities research organizations and otherrelevant institutions in an ex-officio capacity. Part-time members will be on a rotational basis.
Q-2) In context of ‘Indira Awaas Yojana’, consider the following statements: - Indira Awaas Yojana seeks to provide shelter to rural BPL households.
- Allotment under this housing scheme is made only in the name of the female member of the household.
Which of the following is/are correct?
(a)
(b)
(c)
(d)
Q-3) With reference to “Aam Admi Bima Yojana’’, consider the following statements- The member insured under the scheme must be the head of the family or an earning member of the family in a rural landless house-hold.
- The member insured must be in the age group of 30 to 65 years.
- There is a provision for free scholarship for upto two children of the insured who are studying between classes 9 and 12.
Which of the statements given above is/are correct?
(a)
(b)
(c)
(d)
The statements 1st and 3rd are correct, but 2nd statement is wrong because, the member should be aged between 18 and 59 years not 30 and 65 years.
Q-4) The Plan Holiday refers to the period
(a)
(b)
(c)
(d)
Q-5) Consider the following statements about the LPG model of economic development process in India?- Disinvestment of profit making public sector Enterprises.
- Permitting private sectors to establish Industrial Units without taking a licence.
- Chronically sick industries were referred to BIFR for the formulation of revival or rehabilitation plan.
Which of the processes given above is/are taken after adoption of LPG model?
(a)
(b)
(c)
(d)
LPG model of economic development process in India involves disinvestment of profit making public sector enterprises, permitting private sectors to establish industrial units without taking a licence and chronically sick industries were referred to BIFR for the formulation of revival or rehabilitation.
Q-6) Consider the following economic processes taking place in Indian Economy :- Import of western culture through the mass media and telecommunication system in India.
- Establishment of factory limits of MNCs in India.
- Acquisition of branded foreign companies by Indian business tycoons.
Which of the economic processes given above is/ are encompassed under globalization?
(a)
(b)
(c)
(d)
Under Globalisation, all the following are covered – Import of western culture through the mass media and telecommunication system, establishment of factory limits of MNCs and acquisition of branded foreign companies by business tycoons.
Q-7) In which one of the year ‘Rolling Plan’ was in operation in India?
(a)
(b)
(c)
(d)
Q-8) Consider the following statements :
- Indo-china war had hampered the proper progress and implementation of Fourth Five Year Plan in India.
- In the Indian Economy, the plan Holiday took place during 1966 to 1969
Which of the statements given above is/are correct?
(a)
(b)
(c)
(d)
Despite big investments, during the first three Plans, the living standards of the poor could not be raised and poverty and inequity in the distribution of state resources remained stark.
Consequently, the period between 1966 and 1969 marked the shift from a ‘growth approach’ to a ‘distribution from growth approach’.
Looking at the failures and pitfalls the planners suspended the impending Fourth Plan, which was due in 1966, until 1969 for a revision of objectives and targets.
This was called the ‘Plan Holiday’ extending from 1 April 1966 to 31 March 1969.
Q-9) Consider the following statements regarding Indian planning.
- The Second Five Year plan emphasized the establishment of heavy industries.
- The Third Five Year Plan aimed to achieve self-sufficiency in food grains and increase agricultural production to meet the requirements of industry and exports.
Which of the statements given above is/are correct?
(a)
(b)
(c)
(d)
The Second Five Year Plan heralded in a true sense the Socialist Project of the then Prime Minister, Jawaharlal Nehru.
The economic policies of Nehru were heavily influenced by the erstwhile Union of Soviet Socialist Republics (USSR) which had followed the path of speedy industrialisation to expand the manufacturing base of its economy.
The Second Five Year Plan focused mainly on heavy industry as against the first plan which was essentially an agricultural plan. This was done to boost domestic production and manufacturing of goods.
The third Plan aimed to achieve self-sufficiency in food grains and increase agricultural production to meet the requirements of industry and exports.
Q-10) Consider the following statements
- Absolute Poverty: It refers to the total number of people living below the Poverty line. As per this measure, around 30% of India’s population is below the poverty line.
- Relative Poverty: It refers to the Poverty of people, in comparison to other people, regions in the nation.
Which among the following statement is/ are incorrect?
(a)
(b)
(c)
(d)
Absolute Poverty: It refers to the total number of people living below the Poverty line. As per this measure, around 30% of India’s population is below the poverty line.
Relative Poverty: It refers to the Poverty of people, in comparison to other people, regions in the nation.