planning economic development & five year plans section 4 MCQ Questions & Answers Detailed Explanation

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Questions : The National Development Council (NDC) :
  1. discusses the progress of the National plan.
  2. suggests the ways to achieve the goals of the national plan.
  3. gives guidelines to formulate the National plan.
  4. suggests plan allocation.
Consider the above statements, select the correct answer from the codes given below :

(a) 1, 2 and 3

(b) 1, 2 and 4

(c) 2, 3 and 4

(d) All of the above

The correct answers to the above question in:

Answer: (a)

National Development Council aims

  1. to prescribe guidelines for the formulation of the National Plan, including the assessment of resources for the Plan;
  2. to consider the National Plan as formulated by the Planning Commission;
  3. to consider important questions of social and economic policy affecting national development; and
  4. 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.

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

Question : 1

The concept of Economic Planning in India is derived from which country?

a) Russia

b) UK

c) USA

d) France

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 : 2

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: (a)

Question : 3

Match the important dates.

List I List II
(Dates) (Event)
I. 1934 A. Planning commission set up
II. 1944 b. Interim government sets up the Planning Advisory Board
III. 1946 c. M. Visvesvaryya, in his book Planned Economy of India, advocates the necessity of planning in the country much before Independence
IV. 1950 d. PlanningandDevelopment Department was set up under the chairmanship of A. Dalal 
Codes: A B C D

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

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

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

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

Answer: (c)

1934: M. Visvesvaryya, in his book Planned Economy of India, advocates the necessity of planning in the country much before Independence.

1944: Planning and Development Department set up under the chairmanship of A. Dalal.

1946: Interim government sets up the Planning Advisory Board.

1947: Economic Programme Committee set up under the chairmanship of Jawaharlal Nehru.

1950: Planning Commission set up.

Question : 4

As against a target of 4 per cent, the average annual growth rate of first four years of the 12th Five Year Plan period (2012-17) in agriculture and allied sector was

a) 1.6%

b) 3.5%

c) 3.0%

d) 2.5%

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.

Question : 5

Which of the following experienced the fastest expansion during the plan in India?

a) Services

b) Industry

c) Agriculture

d) None of these

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:

  1. telecommunication,
  2. hospitality industry/tourism,
  3. mass media,
  4. healthcare/hospitals,
  5. information technology,
  6. banking,
  7. insurance,
  8. investment management,
  9. accountancy,
  10. legal services,
  11. consulting,
  12. retail sales,
  13. real estate, and
  14. education.

Currently, the maximum contribution to national income comes from the service sector which contributes around 60%.

Question : 6

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: (d)

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