Indian Economy Questions and Answers Part-7

1. The objective of self-reliance and zero net foreign aid was declared in :
a) Second 5-Yr Plan
b) Third 5-Yr Plan
c) Fourth 5-Yr Plan
d) Fifth 5-Yr Plan

Answer: c

2. Who of the following was the author of the chapter on "Objectives of Planned Development" for the Third Five Year Plan?
a) Morarji Desai
b) C.D. Deshmukh
c) Jawaharlal Nehru
d) Lal Bahadur Shastri

Answer: a

3. 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: d

4. The 11th Five Year Plan strategy to raise agricultural output envisages which of the following?
1. Greater attention to land reforms.
2. Double the rate of growth of irrigated area.
3. Promote animal husbandry and fishery.
4. Interest free credit to the farmers.
Select the correct answer
a) 1 and 2 only
b) 2 and 3 only
c) 1, 2 and 3
d) 2 and 4 only

Answer: c

5. Which of the statements given below is/are correct?
1. Food for Work Programme was launched in India during the 10th Five Year Plan.
2. The Planning Commission in India is a constitutional body.
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2

Answer: a

6. Who among the following was the first Chairman of the Planning Commission?
a) Dr. Rajendra Prasad
b) Pt. Jawahar Lal Nehru
c) Sardar Vallabhbhai Patel
d) J.B. Kripalani

Answer: b

7. Which of the following statements about the Indian Economy is correct?
a) Indian economy is as developed as that of China
b) About 70% Indians are involved in some type of self-employment and are the owners of some or the other micro or small enterprise.
c) In India, single biggest employment is agriculture and allied activities.
d) About 48% Indian workforce is employed in foreign countries or in organizations assisted by foreign capital.

Answer: c

8. Which of the following is NOT a function of the Planning Commission of India?
a) Assessment of the material, capital and human resources of the country
b) Formulation of plans for the most effective and balanced utilization of country's resources
c) Public cooperation in national development
d) Preparation of annual budget of the country and collection of taxes to raise capital for the implementation of the plans

Answer: d

9. Which one of the following is the correct sequence in the decreasing order of contribution of different sectors to the Gross Domestic Product of India ?
a) Services-Industry-Agriculture
b) Services-Agriculture-Industry
c) Industry-Services-Agriculture
d) Industry-Agriculture-Services

Answer: a

10. ____ is the ex-officio chairman of Planning Commission and National Development Council.
a) Prime Minister
b) President
c) Finance Minister
d) Commerce Minister

Answer: a