Indian Economy -Test Set 1

1. National Development Council was set up in:
(a) 1948
(b) 1950
(c) 1951
(d) 1952

Ans: (d)

2. Economic Planning is a subject: [Asstt Grade 1991]
(a) in the Union List
(b) in the State List
(c) in the Concurrent List
(d) unspecified in any special list

Ans: (a)

3. For internal financing of Five Year Plans, the government depends on: [NDA 1991]
(a) taxation only
(b) taxation and public borrowing
(c) public borrowing and deficit financing
(d) taxation, public borrowing and deficit financing

Ans: (a)


4. The National Development Council gets its administrative support from:
(a) Planning Commission
(b) Finance Commission
(c) Administrative Reforms Commission
(d) Sarkaria Commission

Ans: (a)

5. The Five Year Plans of India intend to develop the country industrially through: [NDA 1991]
(a) the public sector
(b) the private sector
(c) the public, private, joint and Cooperative sectors
(d) increasing collaboration with non-resident Indians

Ans: (c)

6. The Planning Commission is : [UP PCS 1994]
(a) a Ministry
(b) a Government department
(c) an Advisory body
(d) an Autonomous Corporation

Ans: (c)

7. Which of the following statements is correct? [AAO 1993]
(a) Planning Commission is a constitutional body
(b) The Prime Minister is the Chairman of the Planning Commission
(c) The Minister of Planning is always necessarily the Deputy Chairman of Planning Commission
(d) The draft plan is prepared by the National Development Council

Ans: (b)

8. The principal reason why national economic planning is still being pursued inspite of embracing a market economy since 1991 is that: [IAS 1994]
(a) the vast quantity of capital already deployed in the public sector needs to be nurtured
(b) the market economy is mainly confined to industry and commerce and central planning in agriculture is necessary
(c) it is a constitutional requirement
(d) Five Year Plans can continue to provide a long-term perspective to the economy in market friendly fashions

Ans: (d)

9. ‘Take off stage’ in an economy means: [CBI 1990]
(a) steady growth begins
(b) economy is stagnant
(c) economy is about to collapse
(d) all controls are removed

Ans: (a)

10. Planning in India derives its objectives from:
(a) Fundamental Rights
(b) Directive Principles of State policy
(c) Fundamental Duties
(d) Preamble

Ans: (b)

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