Question 1

National Development Council was set up in:

Accepted Answer

The National Development Council (NDC) was set up in 1952 to strengthen and mobilize the effort and resources of the nation in support of the Five Year Plans and to promote common economic policies in all vital spheres.

Question 2

Economic Planning is a subject:

Accepted Answer

A

Question 3

For internal financing of Five Year Plans, the government depends on:

Accepted Answer

A

Question 4

Take off stage' in an economy means:

Accepted Answer

The 'take off stage' in an economy refers to the point where steady growth begins, marking a transition from traditional society to one that can sustain self-driven economic growth.

Question 5

Above 50% of working population of India is engaged in:

Accepted Answer

The primary sector includes agriculture, forestry, fishing, and mining, and in India, a significant portion of the working population is engaged in agriculture and related activities, making the primary sector the largest employer.

Question 6

Economic survey is published by :

Accepted Answer

The Economic Survey is published annually by the Ministry of Finance, Government of India. It reviews the developments in the Indian economy over the past financial year, summarizing the performance on major development programs, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term.

Question 7

India has:

Accepted Answer

India has a mixed economy, which combines elements of capitalism and socialism. This means that both the private sector and the government play important roles in the economy.

Question 8

The first attempt to initiate economic planning in India was madeby:

Accepted Answer

M. Visvesvaraya made the first attempt to initiate economic planning in India with his book "Planned Economy for India" in 1934, which was well before India's independence.

Question 9

The decentralisation system was recommended by:

Accepted Answer

The decentralisation system was recommended by Balwant Rai Mehta, who chaired the committee responsible for suggesting the establishment of the Panchayati Raj system in India.

Question 10

Rolling plan was designed for the period:

Accepted Answer

The Rolling Plan was designed for the period 1978-83. It was introduced during the Janata Party government that came into power in 1977, after the end of the Emergency period. The concept of a Rolling Plan was to have a plan for each year, which would be reviewed and updated annually based on the achievements and experiences of the previous year.

Question 11

Who wrote the book 'Planned Economy for India'?

Accepted Answer

M. Visvesvaraya wrote the book 'Planned Economy for India', which was published in 1934. This book is significant as it laid down a thought-out plan for the economic development of India.

Question 12

'Globalisation of Indian Economy' means:

Accepted Answer

Globalisation of Indian Economy refers to integrating the country's economy with the world economy. It involves having minimal restrictions on trade, investments, and economic relations with other countries to enhance economic growth and development.

Question 13

The contribution of agriculture to India's' economy is:

Accepted Answer

The contribution of agriculture to India's economy has been decreasing over the years due to rapid industrialization and growth in the services sector.

Question 14

Dadabhai Naoroji theorised on the drain of wealth from India inhis book:

Accepted Answer

Dadabhai Naoroji's theory on the drain of wealth from India is elaborated in his book titled "Poverty and Un-British Rule in India."

Question 15

Which one of the following Five-Year Plans recognised human development as the core of all developmental efforts?

Accepted Answer

The Eighth Five-Year Plan (1992-1997) was the first to explicitly recognize human development as the core of all developmental efforts, emphasizing the importance of investing in people's education, health, and skills to achieve sustainable growth.

Question 16

In which of the Five YearPlans, preference was given to the weaker sections of the society ?

Accepted Answer

In the Fifth Five Year Plan (1974–1979), preference was given to the weaker sections of the society, with a focus on poverty alleviation and employment generation.

Question 17

The Second Five Year Plan laid more stress upon:

Accepted Answer

The Second Five Year Plan, which spanned from 1956 to 1961 in India, emphasized industrialization with a focus on heavy industries and capital goods, aiming to set the foundation for future economic growth and development.

Question 18

Who among the following was the first Chairman of the PlanningCommission? [CDS 2008]

Accepted Answer

Pt. Jawaharlal Nehru was the first Chairman of the Planning Commission in India, reflecting his role as the prime architect of India's planned economy.

Question 19

Which Committee's recommendations are being followed for estimating Poverty Line in India?

Accepted Answer

The Lakdawala Committee's recommendations are being followed for estimating the Poverty Line in India. This committee was set up in 1993 to review the methodology for poverty estimation and suggested changes to the poverty line calculation.

Question 20

Absolute Povertymeans:

Accepted Answer

Absolute poverty refers to a condition where an individual or family cannot meet basic needs for survival, often defined in terms of minimum calorie intake or the ability to purchase essential goods and services.

Quiz 1: Economic Planning and Development in India