planning economic development & five year plans section 2 Practice Questions Answers Test with Solutions & More Shortcuts

Question : 11

Consider the following statements regarding Indian planning:

  1. The Jalan Panel was set up by the RBI to scrutinize application for new bank licences.
  2. The Committee was headed by former RBI governor Dr Rajendra Jalan.
Which of the statements given above is/are correct?

a) 2 only

b) 1 and 2

c) 1 only

d) None

Answer: (c)

The Bimal Jalan panel which was set up by the RBI to scrutinize application for new bank licences has submitted its report. The Committee was headed by former RBI governor Dr Jalan.

Question : 12

A Five Year Plan was severely affected by the immigration of huge number of people from Bangladesh was?

a) Third Five Year Plan

b) Fourth Five Year Plan

c) First Five Year Plan

d) Sixth Five Year Plan

Answer: (b)

The fourth five-year plan was affected by the immigration of a huge population from Bangladesh.

It was affected since the situation in East Pakistan was really tense and the funds actually allocated for the industrial development were taken up to wage the Indo-Pakistani war and the Bangladesh Liberation War.

Question : 13

The growth rate of which one of the following sectors has very low employment elasticity?

a) construction

b) manufacturing

c) mixed farming

d) financial services

Answer: (d)

Question : 14

Which one of the following economists proposed the LPG model of economic development in India?

a) Manmohan Singh

b) K.V. Kamath

c) Y.B. Reddy

d) None of these

Answer: (a)

The economy of India had undergone significant policy shifts at the beginning of the 1990s. 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.

Question : 15

National Development Council is concerned with

a) approving and assessing major development projects in India

b) implementing state plans

c) implementing community development programmes

d) approval of five-year plans

Answer: (d)

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