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

Answer: (a)

The objective of Rashtriya Mahila Kosh is to facilitate credit support to poor women for this socioeconomic upliftment.

Answer: (c)

The Government of India has established NITI Aayog to replace the Planning Commission.

The Union Government of India announced the formation of NITI Aayog on January 205 and the first meeting of NITI Aayog was held on 8 February 205.

Answer: (d)

In the 11th Five Year Plan, the growth rate of the agriculture sector was 3.3% and the agriculture sector contributed 15.2 % to the overall GDP of the country.

Thus Both the given statements regarding the 11th Five Year Plan are not correct.

Answer: (b)

The economy of India had undergone significant policy shifts at the beginning of the 1990s at the time of the eighth plan. This new model of economic reforms is commonly known as the LPG or Liberalization, Privatization and Globalization model.

LPG model of economic development in India was proposed by Dr Manmohan Singh, economist and finance minister at that time.

Moreover, the Eighth plan envisaged an annual average growth rate of 5.6% but the real growth rate was 6.8%.

Answer: (b)

Jawahar Rozgar Yojna was launched on April 1, 1989, by merging National Rural Employment Program (NREP) and Rural Landless Employment Guarantee Programme (RLEGP).

In Seventh Five Year Plan the smallscale and food processing industries were given new impetus as the plan laid stress on improving the productivity level of industries by upgrading technology.

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%.