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

MOST IMPORTANT indian economy mcq - 10 EXERCISES

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

Questions : Consider the following economic processes taking place in Indian Economy :
  1. Import of western culture through the mass media and telecommunication system in India.
  2. Establishment of factory limits of MNCs in India.
  3. Acquisition of branded foreign companies by Indian business tycoons.
Which of the economic processes given above is/ are encompassed under globalization?

(a) 1 and 3

(b) 2 and 3

(c) 1, 2 and 3

(d) only 2

The correct answers to the above question in:

Answer: (c)

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.

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Read more planning economic development five year plans Based Indian Economy Questions and Answers

Question : 1

Consider the following statements:

  1. The state sets broad parameters and goals for the economy.
  2. The targets to be achieved are broadly set by the state.
  3. The plan is made for a specific time period of about 15 years.
Which of the statements given above is/are correct about the Indicative planning?

a) 1 and 2

b) 1 and 3

c) 1, 2 and 3

d) only 1

Answer: (a)

Indicative planning is a form of economic planning implemented by a state in an effort to solve the problem of imperfect information in the market and mixed economies in order to increase economic performance.

Regarding indicative planning, the state sets broad parameters and goals for the economy and the targets to be achieved are broadly set by the state.

Question : 2

Match the following:

List I List II
(Year of starting) (Name of the programme)
I. 1971-72 a. Pilot Intensive Rural Employment
II. 1972-73 b. Crash Scheme for Rural Employment
III. 1973-74 c. Food for work Programme
IV. 1977-78 d. Drought Prove Areas Programme
Codes: I II III IV

a) I-a, II-b, III-c, III-d

b) I-d, II-c, III-b, IV-a

c) I-b, II-a, III-d, IV-c

d) I-a, II-d, III-a, IV-b

Answer: (c)

Question : 3

The core concept of the Eleventh Five Year Plan was

a) Faster and more inclusive growth

b) Human Resource Development

c) Human well being

d) Growth with social justice and equality

Answer: (d)

Question : 4

The Planned Development Model was adopted in India from

a) 1st May, 1965

b) 1st April, 1951

c) 26th January, 1950

d) 15th August, 1947

Answer: (b)

Question : 5

Consider the following statements

  1. 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.
  2. 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) 1 only

b) Neither 1 nor 2

c) 2 only

d) Both 1 and 2

Answer: (b)

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.

Question : 6

Consider the following statements :

  1. The state sets broad parameters and goals for the economy.
  2. The targets to be achieved are broadly set by the state.
  3. The plan is made for a specific time period of about 15 years.
Which of the statements given above is/are correct about the Indicative planning?

a) 1, 2 and 3

b) 1 and 3

c) 1 and 2

d) only 1

Answer: (c)

Indicative planning is a form of economic planning implemented by a state in an effort to solve the problem of imperfect information in the market and mixed economies in order to increase economic performance.

Regarding indicative planning, the state sets broad parameters and goals for the economy and the targets to be achieved are broadly set by the state.

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