planning economic development & five year plans section 2 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
- The Jalan Panel was set up by the RBI to scrutinize application for new bank licences.
- The Committee was headed by former RBI governor Dr Rajendra Jalan.
(a) 2 only
(b) 1 and 2
(c) 1 only
(d) None
The correct answers to the above question in:
Answer: (c)
The Bimal Jalan panel which was set up by the RBI to scrutinize application for new bank licences has submitted its report. The Committee was headed by former RBI governor Dr Jalan.
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Read more planning economic development five year plans Based Indian Economy Questions and Answers
Question : 1
A Five Year Plan was severely affected by the immigration of huge number of people from Bangladesh was?
a) Third Five Year Plan
b) Fourth Five Year Plan
c) First Five Year Plan
d) Sixth Five Year Plan
Answer »Answer: (b)
The fourth five-year plan was affected by the immigration of a huge population from Bangladesh.
It was affected since the situation in East Pakistan was really tense and the funds actually allocated for the industrial development were taken up to wage the Indo-Pakistani war and the Bangladesh Liberation War.
Question : 2
The growth rate of which one of the following sectors has very low employment elasticity?
a) construction
b) manufacturing
c) mixed farming
d) financial services
Answer »Answer: (d)
Question : 3
Which one of the following economists proposed the LPG model of economic development in India?
a) Manmohan Singh
b) K.V. Kamath
c) Y.B. Reddy
d) None of these
Answer »Answer: (a)
The economy of India had undergone significant policy shifts at the beginning of the 1990s. This new model of economic reforms is commonly known as the LPG or Liberalization, Privatization and Globalization model.
LPG model of economic development in India was proposed by Dr Manmohan Singh, economist and finance minister at that time.
Question : 4
The main objective of the 2th Five-Year Plan is
a) inclusive and sustainable growth
b) inclusive growth and poverty reduction
c) faster, sustainable and more inclusive growth
d) sustainable and inclusive growth to reduce unemployment
Answer »Answer: (c)
2th Five Year Plan of the Government of India aims at faster, sustainable and more inclusive growth.
Question : 5
The major emphasis on the first five year plan of India was
a) employment
b) industry
c) agriculture
d) export promotion
Answer »Answer: (c)
The major emphasis in the First Five Year plan was on the agriculture sector. At the time of the first plan (1951–56), India faced severe food shortages and inflation.
Accordingly, the first plan emphasized rapid agricultural development so as to achieve food self-sufficiency and control inflation. The target Growth rate was 201% annual GDP Achieved Growth Rate was 3.6% & the Net domestic product went up by 15%.
Question : 6
Which one ofthe following wasthe firstChairman of Planning Commission of India?
a) Sardar Vallabhbhai Patel
b) Pt. Jawaharlal Nehru
c) Dr. Rajendra Prasad
d) J.B. Kriplani
Answer »Answer: (b)
After India gained independence, a formal model of planning was adopted, and accordingly the Planning Commission was established on 15 March 1950, with Prime Minister Jawaharlal Nehru as the Chairman.
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