Practice Quiz set 5 - indian economy mcq Online Quiz (set-1) For All Competitive Exams
Q-1) Which Five-Year Plan had an objective of “Rapid industrialization with particular emphasis on development of basic and heavy industries” ?
(a)
(b)
(c)
(d)
The Second Five Year Plan’s broad objective was establishment of a socialistic pattern of society. It aimed at rebuilding rural India, development of basic and heavy industries and enlarging scope of public sector.
Q-2) Consider the following statements: - Indira Gandhi Matritva Sahyog Yojana (IGMSY) has been launched to improve the health and nutrition status of pregnant, lactating women and infants.
- The scheme envisages Cash Incentives for the above beneficiaries
- All Government Women Employees are beneficiaries of the IGMSY
Which among the above statements is / are correct?
(a)
(b)
(c)
(d)
Indira Gandhi Matritva Sahyog Yojana (IGMSY) has been launched to improve the health and nutrition status of pregnant, lactating women and infants. The scheme envisages Cash Incentives for the above beneficiaries.
Q-3) Which of the following is/are correct? - Bulk of unemployment in India is in rural areas.
- The disguised unemployment in agricultural sector is perennial.
- Industrialization has rendered several people jobless in India.
(a)
(b)
(c)
(d)
Q-4) A person qualifies for insurance under the Aam Aadmi Bima Yojana only if he ______
- Is earning member of rural household
- Is Landless
- Belongs to BPL category
- Between 15- 59 years of age
which among the above statements is / are correct?
(a)
(b)
(c)
(d)
Q-5) 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-6) Which of the following measures should be taken when an economy is going through inflationary pressures?
- The direct taxes should be increased.
- The interest rate should be reduced.
- The public spending should be increased.
Select the correct answer using the codes given below
(a)
(b)
(c)
(d)
Cost-push inflation occurs when businesses respond to rising costs, by increasing their prices to protect profit margins.
There are many reasons why costs might rise: Component costs, Rising labour costs and higher indirect taxes imposed by the government.
So, direct taxes should be increased when an economy is going through inflationary pressures.
Q-7) Consider the following statements :
- PURA model of the economic model was advocated by Dr APJ Abdul Kalam.
- PURA model of economic development is mainly aimed to bridge the gap between the rural-urban divide.
Which of the statements given above is/are correct?
(a)
(b)
(c)
(d)
Provision of Urban Amenities to Rural Areas (PURA) is a strategy for rural development in India to bridge the gap between rural and urban India.
This concept was given by former president Dr A.P.J. Abdul Kalam. PURA proposes that urban infrastructure and services be provided in rural hubs to create economic opportunities outside of cities.
Q-8) The Rural infrastructure fund set up in 1995 – 96, is maintained by the
(a)
(b)
(c)
(d)
The rural infrastructure fund was set up by the Government in 1995–96 for financing ongoing rural Infrastructure projects.
The Fund is maintained by the National Bank for Agriculture and Rural Development (NABARD).
Domestic commercial banks contribute to the fund to the extent of their shortfall in stipulated priority sector lending to agriculture.
Q-9) Consider the following statements regarding Indian planning.
- The second five year plan emphasized on the establishment of heavy industries.
- The third five year plan aimed to achieve self-sufficiency in foodgrains 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 foodgrains and to increase agricultural production to meet the requirements of industry and exports.
Q-10) Consider the following statements:
- The Ninth Five Year Plan was launched in the 50th year of India’s independence.
- For the 1st 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)
The ninth five-year plan was launched in the 50th year of India’s independence.
Under the plan, for the 1st time in the Indian Economy, the GDP growth rate was set at 7%.