planning economic development & five year plans section 2 MCQ Questions & Answers Detailed Explanation

Answer: (b)

Answer: (b)

The Hindu rate of growth is a derogatory term referring to the low annual growth rate of the planned economy of India before the liberalizations of 1991, which stagnated around 3.5% from 1950s to 1980s, while per capita income growth averaged 1.3%. The term was coined by Indian economist Raj Krishna.

Answer: (a)

The National Development Council (NDC) or the Rashtriya Vikas Parishad is the apex body for decision-making and deliberations on development matters in India, presided over by the Prime Minister.

The National Development Council is the final authority to adopt the Five Year Plan for the country.

Answer: (a)

Answer: (c)

Dr C. Rangarajan mentioned in his report that access to finance by the poor and vulnerable groups is a prerequisite for poverty reduction and social cohesion. This has to become an integral part of our efforts to promote inclusive growth.

In fact, providing access to finance is a form of empowerment of vulnerable groups. Financial inclusion denotes the delivery of financial services at an affordable cost to the vast sections of the disadvantaged and low-income groups.

The various financial services include credit, savings, insurance and payments and remittance facilities. The objective of financial inclusion is to extend the scope of activities of the organised financial system to include within its ambit people with low incomes.

Through graduated credit, the attempt must be to lift the poor from one level to another so that they come out of poverty.

Answer: (b)

First Plan – agriculture, irrigation and power projects

Third Plan – self-reliant and generating economy

Fifth Plan – growth with social justice

Twelfth Plan – sustainable inclusive growth