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Total Questions : 376 | Page 4 of 38 pages
Question 31. First Five Year Plan was started in
  1.    1966-67
  2.    1951-52
  3.    1961-62
  4.    1956-57
 Discuss Question
Answer: Option B. -> 1951-52
Answer: (b)
Question 32. The final authority in India to adopt the five year plan for the country vests in :
  1.    The National Development Council
  2.    The Union Cabinet
  3.    NITI Aayog
  4.    The parliament
 Discuss Question
Answer: Option A. -> The National Development Council
Answer: (a)
The National Development Council (NDC) or the Rashtriya Vikas Parishad is the apex body for decision-making and deliberations on development matters in India, presided over by the Prime Minister.
The National Development Council is the final authority to adopt the Five Year Plan for the country.
Question 33. The major emphasis on the first five year plan of India was
  1.    employment
  2.    industry
  3.    agriculture
  4.    export promotion
 Discuss Question
Answer: Option C. -> agriculture
Answer: (c)
The major emphasis in the First Five Year plan was on the agriculture sector. At the time of the first plan (1951–56), India faced severe food shortages and inflation.
Accordingly, the first plan emphasized rapid agricultural development so as to achieve food self-sufficiency and control inflation. The target Growth rate was 201% annual GDP Achieved Growth Rate was 3.6% & the Net domestic product went up by 15%.
Question 34. The main objective of the 2th Five-Year Plan is
  1.    inclusive and sustainable growth
  2.    inclusive growth and poverty reduction
  3.    faster, sustainable and more inclusive growth
  4.    sustainable and inclusive growth to reduce unemployment
 Discuss Question
Answer: Option C. -> faster, sustainable and more inclusive growth
Answer: (c)2th Five Year Plan of the Government of India aims at faster, sustainable and more inclusive growth.
Question 35. Which one ofthe following wasthe firstChairman of Planning Commission of India?
  1.    Sardar Vallabhbhai Patel
  2.    Pt. Jawaharlal Nehru
  3.    Dr. Rajendra Prasad
  4.    J.B. Kriplani
 Discuss Question
Answer: Option B. -> Pt. Jawaharlal Nehru
Answer: (b)After India gained independence, a formal model of planning was adopted, and accordingly the Planning Commission was established on 15 March 1950, with Prime Minister Jawaharlal Nehru as the Chairman.
Question 36. 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?
  1.    2 only
  2.    1 and 2
  3.    1 only
  4.    None
 Discuss Question
Answer: Option C. -> 1 only
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 37. A Five Year Plan was severely affected by the immigration of huge number of people from Bangladesh was?
  1.    Third Five Year Plan
  2.    Fourth Five Year Plan
  3.    First Five Year Plan
  4.    Sixth Five Year Plan
 Discuss Question
Answer: Option B. -> Fourth 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 38. Which one of the following economists proposed the LPG model of economic development in India?
  1.    Manmohan Singh
  2.    K.V. Kamath
  3.    Y.B. Reddy
  4.    None of these
 Discuss Question
Answer: Option A. -> Manmohan Singh
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 39. The growth rate of which one of the following sectors has very low employment elasticity?
  1.    construction
  2.    manufacturing
  3.    mixed farming
  4.    financial services
 Discuss Question
Answer: Option D. -> financial services
Answer: (d)
Question 40. National Development Council is concerned with
  1.    approving and assessing major development projects in India
  2.    implementing state plans
  3.    implementing community development programmes
  4.    approval of five-year plans
 Discuss Question
Answer: Option D. -> approval of five-year plans
Answer: (d)

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