planning economic development & five year plans section 5 MCQ Questions & Answers Detailed Explanation

Answer: (a)

The slogan of ‘poverty abolition’ was given by Indira Gandhi in 1971 and it was implemented during the Fifth Five Year Plan 1974–79.

Gandhi promised to reduce poverty by targeting the consumption levels of the poor and enact wide-ranging social and economic reforms.

Answer: (b)

The ninth five-year plan was launched in the 50th year of India’s independence.

Under the plan, for the 1st time in the Indian Economy, the GDP growth rate was set at 7%.

Answer: (a)

Answer: (b)

The Second Five Year Plan heralded in a true sense the Socialist Project of the then Prime Minister, Jawaharlal Nehru.

The economic policies of Nehru were heavily influenced by the erstwhile Union of Soviet Socialist Republics (USSR) which had followed the path of speedy industrialisation to expand the manufacturing base of its economy.

The Second Five year Plan focused mainly on heavy industry as against the First Plan which was essentially an agricultural plan.

This was done to boost domestic production and manufacturing of goods. The third plan aimed to achieve self-sufficiency in foodgrains and to increase agricultural production to meet the requirements of industry and exports.

Answer: (c)

When economic development takes place, specialisation increases. Economic development typically involves improvements in a variety of indicators such as literacy rates, life expectancy, and poverty rates.

GDP does not take into account other aspects such as leisure time, environmental quality, freedom, or social justice; alternative measures of economic well-being have been proposed.

Essentially, a country’s economic development is related to its human development, which encompasses, among other things, health and education.

These factors are, however, closely related to economic growth so that development and growth often go together.

Answer: (c)