planning economic development & five year plans section 4 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
(a) 1.6%
(b) 3.5%
(c) 3.0%
(d) 2.5%
The correct answers to the above question in:
Answer: (a)
Agriculture sector grew by an average 1.6 per cent per annum in first four years of the ongoing Five Year Plan (2012-17) as against the targeted 4 per cent annual growth due to lower production.
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Question : 1
The National Development Council (NDC) :
- discusses the progress of the National plan.
- suggests the ways to achieve the goals of the national plan.
- gives guidelines to formulate the National plan.
- suggests plan allocation.
a) 1, 2 and 3
b) 1, 2 and 4
c) 2, 3 and 4
d) All of the above
Answer »Answer: (a)
National Development Council aims
- to prescribe guidelines for the formulation of the National Plan, including the assessment of resources for the Plan;
- to consider the National Plan as formulated by the Planning Commission;
- to consider important questions of social and economic policy affecting national development; and
- to review the working of the Plan from time to time and to recommend such measures as are necessary for achieving the aims and targets set out in the National Plan.
Question : 2
The concept of Economic Planning in India is derived from which country?
a) Russia
b) UK
c) USA
d) France
Answer »Answer: (a)
Joseph Stalin implemented the first FYP in the Soviet Union in the late 1920s. Most communist states and several capitalist countries like India subsequently have adopted them.
Question : 3
As per 13th Finance Commission Recommendations during 2010-15 transfer to the states in the form of ‘grant-in-aid’ are expected to be
a) Rs.3,18,581 crore
b) Rs.1,64,892 crore
c) Rs.1,07,552 crore
d) Rs.44,000 crore
Answer »Answer: (a)
Question : 4
Which of the following experienced the fastest expansion during the plan in India?
a) Services
b) Industry
c) Agriculture
d) None of these
Answer »Answer: (a)
The service sector experienced the fastest expansion during the plan in India which was predominantly an agricultural economy at the time of independence.
It includes:
- telecommunication,
- hospitality industry/tourism,
- mass media,
- healthcare/hospitals,
- information technology,
- banking,
- insurance,
- investment management,
- accountancy,
- legal services,
- consulting,
- retail sales,
- real estate, and
- education.
Currently, the maximum contribution to national income comes from the service sector which contributes around 60%.
Question : 5
The rationale given in the first plan for state intervention in the industrial sector was that:
a) state alone can ensure decentralization of wealth
b) private sector was inefficient
c) the commanding heights of the economy should be in the public sector
d) private sector was neither willing nor capable of investing in certain sectors
Answer »Answer: (d)
Question : 6
Consider the following statement regarding usual status
- One year
- Indefinite
- One month
- One week
a) 1 only
b) 3 only
c) 2 only
d) 4 only
Answer »Answer: (a)
Usual status (US) unemployment is calculated with reference to a period of one year.
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