Practice Quiz set 4 - indian economy mcq Online Quiz (set-1) For All Competitive Exams

Q-1)   As against a target of 4 per cent, the average annual growth rate of first four years of the 12th Five Year Plan period (2012-17) in agriculture and allied sector was

(a)

(b)

(c)

(d)

Explanation:

Agriculture sector grew by an average 1.6 per cent per annum in first four years of the ongoing Five Year Plan (2012-17) as against the targeted 4 per cent annual growth due to lower production.


Q-2)   ____ Plan had the fastest growth rate.

(a)

(b)

(c)

(d)


Q-3)   In which year ‘Bombay plan’ was launched by some industrialists?

(a)

(b)

(c)

(d)

Explanation:

The Bombay Plan is the name commonly given to a set of proposals for the development of the post-independence economy of India.

The plan was published in 1944 by eight leading industrialists Jehangir Ratanji Dadabhoy Tata, Ghanshyam Das Birla, Ardeshir Dalal, Sri Ram, Kasturbhai Lalbhai, Ardeshir Darabshaw Shroff, Sir Purshottamdas Thakurdas and John Mathai.

It proposed state intervention in the economic development of the nation after independence.


Q-4)   Consider the following statements :
  1. The Ninth Five Year Plan was launched in the 50th year of India’s independence.
  2. For the first time in the Indian economy the GDP growth rate of the Ninth Five Year Plan was set at 7%.
Which of the statements given above is/are correct?

(a)

(b)

(c)

(d)

Explanation:

The Ninth Five Year Plan was launched in the 50th year of India’s independence. Under the plan for the first time in the Indian Economy the GDP growth rate was set at 7%.


Q-5)   Consider the following statements :
  1. The Ninth Five Year Plan was launched in the 50th year of India’s independence.
  2. For the first time in the Indian economy the GDP growth rate of the Ninth Five Year Plan was set at 7%.
Which of the statements given above is/are correct?

(a)

(b)

(c)

(d)

Explanation:

The Ninth Five Year Plan was launched in the 50th year of India’s independence. Under the plan for the first time in the Indian Economy the GDP growth rate was set at 7%.


Q-6)   Consider the following statement regarding usual status
  1. One year
  2. Indefinite
  3. One month
  4. One week
Usual status (US) unemployment is calculated with reference to a period of?

(a)

(b)

(c)

(d)

Explanation:

Usual status (US) unemployment is calculated with reference to a period of one year.


Q-7)   The concept of Economic Planning in India is derived from which country?

(a)

(b)

(c)

(d)

Explanation:

Joseph Stalin implemented the first FYP in the Soviet Union in the late 1920s. Most communist states and several capitalist countries like India subsequently have adopted them.


Q-8)   In which year was the 20 point economic programme was announced for the very first time?

(a)

(b)

(c)

(d)

Explanation:

The Twenty Point Programme was initially launched by Prime Minister Indira Gandhi in 1975 and was subsequently restructured in 1982 and again in 1986.

With the introduction of new policies and programmes, it has been finally restructured in 2006 and it has been in operation at present.

The basic objective of the 20-Point Programme is to eradicate poverty and to improve the quality of life of the poor and the underprivileged population of the country.


Q-9)   Consider the following statements :
  1. In the 11th Five Year Plan, the growth rate of the export was always positive.
  2. In the middle of the 11th Five Year Plan, the import growth was negative due to external factors.
Which of the statements given above is/are correct?

(a)

(b)

(c)

(d)

Explanation:

Regarding the 11th Five Year Plan, in the middle of the plan, the import growth was negative due to external factors and the growth rate of the export was negative during certain periods.


Q-10)   Which of the following can aid in furthering the government’s objective of inclusive growth?
  1. Promoting self-help group
  2. Promoting micro, small and medium enterprises
  3. Implanting the Rights to Education Act
Select the correct answer using the codes given below:

(a)

(b)

(c)

(d)

Explanation:

The governments objective of inclusive growth can be furthered by promoting self-help groups, promoting micro, small and medium enterprises and implementing the rights to education. This will improve employment opportunity, increase GDP, etc.