planning economic development & five year plans section 1 MCQ Questions & Answers Detailed Explanation

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The following question based on Planning, Economic Development & Five year Plans topic of indian economy mcq

Questions : 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. Implementing the Right to Education Act
Select the correct answer using the codes given below :

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 only

(d) 1, 2 and 3

The correct answers to the above question in:

Answer: (d)

The Government's objective of inclusive growth can be furthered by promoting self-help groups, promoting micro, small and medium enterprises and implementing the right to education.

This will improve employment opportunities, increase GDP etc.

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Question : 1

Consider the following statements regarding Indian planning.

  1. The Second Five Year plan emphasized the establishment of heavy industries.
  2. 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) 2 only

b) 1 and 2 both

c) 1 only

d) None

Answer: (b)

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.

Question : 2

The Finance Commission is primarily concerned with recommending to the President about

a) the principle government grants-in-aid to be given to the states

b) distributing the net proceeds of the taxes between the centre and the states

c) Both (A) and (B)

d)   Neither (A) nor (B)

Answer: (c)

Question : 3

Human Poverty Index (HPI) measures the deprivation as a composite index of:

a) knowledge, basic needs and standard of living

b) longevity, nutrition and knowledge

c) longevity, knowledge, and standard of living

d) longevity, standard of living and sanitation

Answer: (c)

Question : 4

Planning Commission has been replaced by which of the given institutions?

a) NITI Aayog

b) Investment Commission of India

c) Finance Commission of India

d) None of these

Answer: (a)

Planning Commission has been replaced by an institution named NITI Aayog. In 2014, the Central Government led by Prime Minister Narendra Modi decided to wind down up the Planning Commission.

It was proposed to replace it with a more dynamic organisation that is more popular and connected to the times.

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