This quiz works best with JavaScript enabled. Home > General Knowledge > Indian Economy > Planning > Indian Economic Development Policy – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Economic Development Policy Quiz 1 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is the primary objective of the Public Distribution System (PDS) in India? A) To provide cash directly to beneficiaries. B) To distribute essential food items and commodities to eligible households. C) To offer healthcare services to the poor. D) To support the agricultural sector. Show Answer Correct Answer: B) To distribute essential food items and commodities to eligible households. 2. Which of the following is not considered a factor income A) Wages. B) Gifts from abroad. C) Profit. D) Rent. Show Answer Correct Answer: B) Gifts from abroad. 3. Money that can be directly used for transaction is ..... A) M1. B) Broad money. C) Near money. D) M2. Show Answer Correct Answer: A) M1. 4. In which year is education commission formed? A) 1947. B) 1960. C) 1964. D) 1970. Show Answer Correct Answer: C) 1964. 5. Which of the following programme ia also known as National Rural Livelihoods Mission (NRLM) A) Swarna jayanti Shahari Rozgar Yojana (SJSRY). B) Prime Minister Rozgar Yojana (PMRY). C) Rural Employment Guarantee Programme (REGP). D) Swarna Jayanti Gram Swarozgar Yojana. Show Answer Correct Answer: D) Swarna Jayanti Gram Swarozgar Yojana. 6. How many percent of Indian farmers get Minimum Support Price (MSP) in India A) 100%. B) 25%. C) 6%. D) 65%. Show Answer Correct Answer: C) 6%. 7. Mention the Indian economy's nature on the Independence A) Under developed. B) Backward. C) Stagnant. D) All of the above. Show Answer Correct Answer: D) All of the above. 8. People who never move above the poverty line are called A) Churning Poor. B) Chronic Poor. C) Consistent Poor. D) Transient Poor. Show Answer Correct Answer: B) Chronic Poor. 9. Which scheme encouraged people to open bank account in 2014? A) Jan Dhan Yojana. B) Public distribution system. C) National old age scheme. D) Integrated Child development scheme. Show Answer Correct Answer: A) Jan Dhan Yojana. 10. Identify the programme which aim at improving the food and nutritional status of the poor? A) Public Distribution System (PDS). B) Integrated Child Development Scheme(ICDS). C) Midday meal scheme( MDMS). D) All of the above. Show Answer Correct Answer: D) All of the above. 11. People who are always poor and those who are usually poor but who may sometimes have little more money (example:casual workers) are grouped together as the ..... A) Chronic poor. B) Churning poor. C) Occasionally poor. D) Transient poor. Show Answer Correct Answer: A) Chronic poor. 12. ..... year adopted HIgh yielding variety for the first time A) 1966. B) 1977. C) 1986. D) 1956. Show Answer Correct Answer: A) 1966. 13. ..... is the sum of individual poverty A) Average poverty. B) Aggregate poverty. C) Absolute poverty. D) None of the above. Show Answer Correct Answer: B) Aggregate poverty. 14. Rule stating that a percentage of every deposit be set aside as legal reserves A) Monetary policy. B) Reserve requirement. C) Margin requirements. D) Discount rate. Show Answer Correct Answer: B) Reserve requirement. 15. Which type of poverty is characterized by a lack of basic necessities like food, clean water, and shelter? A) Wealth poverty. B) Income poverty. C) Relative poverty. D) Absolute poverty. Show Answer Correct Answer: D) Absolute poverty. 16. Poverty alleviation programmes are implemented with the help of which of the following programme from 1990 onwards? A) Swarna Jayanti Gram Swarozgar Yojana. B) Self-help Group. C) MGNREGA. D) None of the above. Show Answer Correct Answer: B) Self-help Group. 17. The factories, machines, and technology that people use to make products to sell. A) Capital goods. B) Human capital. C) Entrepreneurship. D) None of above. Show Answer Correct Answer: A) Capital goods. 18. Net investment is equal to A) Gross investment +depreciation. B) Gross investment-depreciation. C) Gross investment xdepreciation. D) None of above. Show Answer Correct Answer: B) Gross investment-depreciation. 19. What is the term for a situation where the demand for labor exceeds the available supply of labor? A) Labor surplus. B) Labor strike. C) Labor shortage. D) Labor union. Show Answer Correct Answer: C) Labor shortage. 20. Which objective of planning was considered a necessity to reduce our dependence on foreign goods: A) Modernisation. B) Self reliance. C) Growth. D) All of the above. Show Answer Correct Answer: B) Self reliance. 21. Indian economy depend on ..... secto A) Production. B) Agriculture. C) Manufacturing. D) Mining. Show Answer Correct Answer: B) Agriculture. 22. Which of the following is an example of is non durable goods? A) Milk. B) Bread. C) Both a and b. D) None of these. Show Answer Correct Answer: C) Both a and b. 23. Those goods which satisfy human wants directly are called? A) Intermediate goods. B) Capital goods. C) Consumer goods. D) None of these. Show Answer Correct Answer: C) Consumer goods. 24. British rule lasted for almost for ..... years. A) 100 years. B) 200 years. C) 50 years. D) 300 years. Show Answer Correct Answer: B) 200 years. 25. Economists identify the poor on the basis of their: A) Occupation. B) Ownership of assets. C) Income. D) Both 1 and 2. Show Answer Correct Answer: D) Both 1 and 2. 26. The minimum calorie requirement in Rural areas to decide poverty line is A) 2600 calories. B) 2000 calories. C) 2400 calories. D) 2100 calories. Show Answer Correct Answer: C) 2400 calories. 27. What was growth in per capita income at the time of British rule A) 5. B) 0.7. C) 10. D) 0.5. Show Answer Correct Answer: D) 0.5. 28. Classification of goods depend on the A) Consumption of goods. B) End use. C) First use. D) None of these. Show Answer Correct Answer: B) End use. 29. MGNREGA was launched in the year ..... A) 2004. B) 2006. C) 2005. D) 2000. Show Answer Correct Answer: B) 2006. 30. The division of money into M1, M2, and M3 is based on A) Assets. B) Liquidity. C) Supply. D) Amount in circulation. Show Answer Correct Answer: B) Liquidity. 31. The final approval to the five-year plans of India is given by? A) NITI Aayog. B) President of India. C) National Development Council. D) National Development Council. Show Answer Correct Answer: C) National Development Council. 32. On 15th august 2020 we celebrated ..... independence day. A) 73. B) 75. C) 74. D) 72. Show Answer Correct Answer: C) 74. 33. ..... percentage of population dependent on agricultural sector. A) 1/2 %. B) 1/3%. C) 1/8%. D) None of above. Show Answer Correct Answer: B) 1/3%. 34. There exists a direct relationship between ..... and poverty A) Famine. B) Debt. C) Unemployment. D) Poor health. Show Answer Correct Answer: C) Unemployment. 35. Who among these had estimated National income for first time A) V.K.R.V RAO. B) R.C DESAI. C) NONE OF THESE. D) BOTH OF THESE. Show Answer Correct Answer: D) BOTH OF THESE. 36. In which year is the Task Force Group formed? A) 1985. B) 1990. C) 1979. D) 1947. Show Answer Correct Answer: C) 1979. 37. Which of the following is a phase of circular flow of income A) Generation phase. B) Distribution phase. C) Disposition phase. D) All of these. Show Answer Correct Answer: D) All of these. 38. Which of the following best describes the GST? A) A direct tax on personal income. B) A tax on the sale of goods only. C) A consumption-based indirect tax on goods and services. D) A tax exclusively on exports. Show Answer Correct Answer: C) A consumption-based indirect tax on goods and services. 39. Small farmers and seasonal workers are categorised as A) Churning Poor. B) Transient poor. C) Always poor. D) Usually Poor. Show Answer Correct Answer: A) Churning Poor. 40. The process of transferring the ownership, Management and control of a public sector partially / entirely to the private sector is known as ..... A) Globalisation. B) Liberalisation. C) Privatisation. D) None of the above. Show Answer Correct Answer: C) Privatisation. 41. Refrigerator purchased by a confectionery shop is and example of? A) Final good. B) Intermediate good. C) Capital good. D) Both a and c. Show Answer Correct Answer: D) Both a and c. 42. What is the role of microfinance institutions in supporting workers in the informal sector? A) Microfinance institutions primarily focus on formal sector workers. B) They provide access to credit and financial services for informal sector entrepreneurs. C) Microfinance institutions only serve large corporations. D) They offer free financial advice to all workers. Show Answer Correct Answer: B) They provide access to credit and financial services for informal sector entrepreneurs. 43. One can trace the approach of providing basic amenities through public expenditure from the ..... A) Sixth five year plan. B) Third five year plan. C) Fifth five year plan. D) First five year plan. Show Answer Correct Answer: C) Fifth five year plan. 44. Which industry employs the largest number of women in India? A) Coal. B) Textile. C) Tea. D) Jute. Show Answer Correct Answer: C) Tea. 45. Buffer stocks are used for ..... A) Exporting. B) Public Distribution. C) Meeting urgent needs during a period of low output and scarcity. D) Both for Public distribution and meeting urgent needs during a period of low output and scarcity. Show Answer Correct Answer: D) Both for Public distribution and meeting urgent needs during a period of low output and scarcity. 46. While estimating national income, depreciation is measured from: A) Intermediate goods. B) Capital Goods. C) Final Goods. D) Durable Consumer goods. Show Answer Correct Answer: B) Capital Goods. 47. Farmers need credit for consumption purpose such as on birth, death, marriage etc called ..... A) Productive credit. B) Unproductive credit. C) Both (i) and (ii). D) None of the above. Show Answer Correct Answer: B) Unproductive credit. 48. ..... traditional industries was India particularly well known for before the advent of the british rule. A) Chemical industry. B) Handicraft industry. C) Jute industry. D) Steel industry. Show Answer Correct Answer: B) Handicraft industry. 49. The minimum requirement of a person ..... A) Food. B) Education. C) Car. D) Both a and b. Show Answer Correct Answer: D) Both a and b. 50. ..... refers to poverty of people in comparison to other people, regions or nations. A) Absolute poverty. B) Relative poverty. C) Both a and b. D) Neither a nor b. Show Answer Correct Answer: B) Relative poverty. 51. The Government implemented ..... plan to prioritize certain sectors and allocate resources accordingly- A) Five year plan. B) State led plan. C) Annual plan. D) Industrial plan. Show Answer Correct Answer: A) Five year plan. 52. The Poverty line in India is prepared on the basis of A) National income. B) Consumption expenditure. C) Per capita income. D) Income of individual. Show Answer Correct Answer: B) Consumption expenditure. 53. Which age group of children is included for calculating Net Attendance Ratio? A) 7-11. B) 14-15. C) 6-10. D) 5-9. Show Answer Correct Answer: B) 14-15. 54. In which year is NABARD formed? A) 1982. B) 1980. C) 1991. D) 1979. Show Answer Correct Answer: A) 1982. 55. Which of the following is an example of a cash transfer program in India? A) Mahatma Gandhi National Rural Employment Guarantee Act. B) Pradhan Mantri Jan Dhan Yojana. C) Direct Benefit Transfer (DBT). D) Public Distribution System (PDS). Show Answer Correct Answer: C) Direct Benefit Transfer (DBT). 56. The action plan includes ..... elements A) Development of the means of transport. linking the rural area with the urban areas. B) Provision of power/.energy for the rural area. C) Permanent means of irrigation. D) All of the above. Show Answer Correct Answer: D) All of the above. 57. Which of the following is the reason of poverty A) Inflation. B) Inadequacy of capital. C) Low rate of growth. D) All of the above. Show Answer Correct Answer: D) All of the above. 58. Food inflation causes both demand-pull inflation as well as ..... Inflation A) Cost-Push. B) Demand-Push. C) Supply-Push. D) None of the above. Show Answer Correct Answer: A) Cost-Push. 59. The socialist economy is also known as ..... A) Mixed. B) Traditional. C) Market. D) Command. Show Answer Correct Answer: D) Command. 60. Which of the following is a stock variable? A) Interest on capital. B) Distance between delhi and manali. C) Expenditure of money. D) All of these. Show Answer Correct Answer: B) Distance between delhi and manali. Next →Related QuizzesIndian Economy QuizzesGeneral Knowledge QuizzesIndian Economic Development Policy Quiz 2Indian Economic Development Policy Quiz 3Fiscal System Of India QuizIndian Economy And Planning Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books