planning economic development & five year plans section 6 MCQ Questions & Answers Detailed Explanation

Answer: (b)

Answer: (d)

The Bombay Plan is the name commonly given to a World War II era consisting of a set of proposals for the development of the post-independence economy of India.

The plan, published in 1944/1945 was endorsed by eight leading Indian industrialists including Tata & Birla Group.

Shri Shriman Narayan was a renowned interpreter of Gandhian economic thought whose “Gandhian plan for Economic Development for India’’ was published as early as 1944. In 1944, Roy published the People’s Plan for Economic Development of India.

Sarvodaya plan was given by Jai Prakash Narayan for the upliftment of all.

Answer: (b)

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%.

Answer: (d)

Answer: (b)

The twelfth Five Year Plan approved by the government aims to sustain the inclusive growth which is started in 11th plan. 12th Five Year Plan of Indian Economy is from 2012 to 2017 and 12th Five Year Plan aims to grow GDP at the rate of 8%.

Answer: (d)

It was during eighth plan period (992-97) that emphasis was put on infrastructure development.