History of Development and Planning - Indian Economy General Awareness Objective Questions and Answers

Questions
11 In which one of the following Five Year Plans the actual growth performance in India in respect of GDP (at factor cost) was less than the target set ?
A Sixth Five Year Plan
B Seventh Five Year Plan
C Eighth Five Year Plan
D Ninth Five Year Plan

Answer: Option [D]

The correct answer is Ninth Five Year Plan. The Ninth Five-Year Plan of the Union of Soviet Socialist Republics was a set of economic goals designed to strengthen the country's economy between 1971 and 1975.

12 The Second Five Year Plan laid more stress upon:
A Industrialisation
B Removing poverty
C Self-reliance
D Agriculture

Answer: Option [A]

The Second Five Year Plan laid more stress upon Industrialisation. Industrialization as the second five year plan has laid special stress on increasing the supply of consumer goods by using existing skills and equipment and steadily introducing technical improvements in the village and small-scale industries sector.

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13 A rolling plan is a plan for:
A One year
B Two years
C Three years
D Five years

Answer: Option [A]

The correct answer is One year.

14 Rolling plan was designed for the period:
A 1974-79
B 1978-83
C 1980-85
D 1985-90

Answer: Option [B]

Rolling plan was designed for the period 1978-83. The Janta Government terminated the fifth five year plan in 1977-78 and launched its own sixth five year plan for period 1978-83 and called it a Rolling Plan.

15 The main objective of First Five-Year Plan was:
A Self-reliance
B Industrial growth
C Economic growth
D Development of agriculture including irrigation and power projects

Answer: Option [D]

The main objective of First Five-Year Plan was development of agriculture including irrigation and power projects. The Planning Commission adopted the Five-Year Plan from 1951 to 1956. Its main focus was on agricultural development as India was primarily an agricultural country. Most of India's population was dependent on agriculture for their income.

16 Major percentage of working population of India is engaged in:
A tertiary sector
B secondary sector
C primary sector
D public sector

Answer: Option [C]

Major percentage of working population of India is engaged in primary sector. The largest proportion of work force in India is engaged in the primary sector. This sector employs 50-60% of the population. Primary sector consists of agriculture. It is also known as raw material sector. Agriculture, crop production, animal husbandry, fisheries and mining- all are included in primary sector.

17 Planning in India derives its objectives from:
A Preamble
B Fundamental Duties
C Fundamental Rights
D Directive Principles of State policy

Answer: Option [D]

Planning in India derives its objectives from Directive Principles of State policy. he Planning Commission was set up by a Resolution of the Government of India in March 1950 in pursuance of declared objectives of the Government to promote a rapid rise in the standard of living of the people by efficient exploitation of the resources of the country. Jawaharlal Nehru was the first Chairman of the Planning Commission. At present, Prime Minister of India, Narendra Modi is the Chairman of the Planning Commission.

18 Economic Planning is a subject defined in which of the following lists:
A In the State List
B In the Union List
C In the Concurrent List
D Unspecified in any special List

Answer: Option [C]

The correct answer is In the Concurrent List. Economic and social planning is enlisted in the Concurrent List under the Seventh Schedule of the Constitution of India, which form the joint domain of both the State Governments and the Union territories of India as well as the Central Government of India.

19 The contribution of agriculture to India’s economy is:
A Constant
B Increasing
C Decreasing
D None of these

Answer: Option [C]

The contribution of agriculture to India’s economy is Decreasing. Agriculture growth rate in India has been growing earlier, but in the last few years it is constantly declining. While, since India is a developing economy, the share of other sectors towards GDP has risen in India. The reason for decline can be accounted to growing share of other sectors as well as lack of technology, irrigation and energy facilities in the rural areas have led to falling growth in agricultural sector.

20 India opted for ‘Mixed Economy’ in:
A Framing of the Constitution
B Industrial Policy of 1948
C Second Five Year Plan
D None of the above

Answer: Option [B]

India opted for ‘Mixed Economy’ in industrial Policy of 1948. The Industrial policy of 1948 was first major policy of independent India which was launched to lay the foundation of a mixed economy in which both private and public enterprises would march hand in hand to accelerate the pace of industrial development.

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