This quiz works best with JavaScript enabled. Home > General Knowledge > Indian Economy > Planning > Indian Economy And Planning – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Economy And Planning Quiz 2 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. 9-Return on investment > rate of interest, ..... funds may be used in capital structure. A) Maximum Equity Fund. B) Maximum Debt Fund. C) Minimum Debt Fund. D) Minimum Equity Fund. Show Answer Correct Answer: B) Maximum Debt Fund. 2. Mixed economy means an economy where [CDS 2009] A) Both agriculture and industry are equally promoted by the state. B) There is co-existence of public sector along with private sector. C) There is importance of small scale industries along with heavy industries. D) Economy is controlled by military as well as civilian rulers. Show Answer Correct Answer: B) There is co-existence of public sector along with private sector. 3. Home or village-based industry in which people make simple goods using their own equipment A) Outsourcing. B) Green revolution. C) Jute. D) Cottage industry. Show Answer Correct Answer: D) Cottage industry. 4. Through ....., the Legislature controls the Policy of the Government A) Financial Control. B) Judicial Control. C) Administrative Control. D) Executive Control. Show Answer Correct Answer: A) Financial Control. 5. 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? [NDA 2008] A) Sixth five year plan. B) Seventh five year plan. C) Eighth five year plan. D) Ninth five year plan. Show Answer Correct Answer: D) Ninth five year plan. 6. Which model of development did India follow? A) Mixed model. B) Chinese model. C) Socialist model. D) Capitalist model. Show Answer Correct Answer: A) Mixed model. 7. Full form of NITI A) Native Institution for Transforming India. B) National Indian for Transforming Institute. C) National Institution for Transforming India. D) National Institution for Transacting India. Show Answer Correct Answer: C) National Institution for Transforming India. 8. What is the maximum investment allowed in Small Scale Industries now? A) 5 crore. B) 5 lakhs. C) 25 lakhs. D) 1 crore. Show Answer Correct Answer: D) 1 crore. 9. The assent of the ..... results in the enactment of a bill into a law A) Prime Minister. B) Speaker. C) Chief Justice of India. D) President. Show Answer Correct Answer: D) President. 10. Who adopted economic planning for the first time in 1928? A) USSR. B) USA. C) France. D) UK. Show Answer Correct Answer: A) USSR. 11. Plan Holiday (1966-1969) was between A) 1st and 2nd five year plan. B) 2nd and 3rd five year plan. C) 3rd and 4th five year plan. D) 4th and 5th five year plan. Show Answer Correct Answer: C) 3rd and 4th five year plan. 12. Economic Planning is a subject: [Asstt Grade 1991] A) In the Union List. B) In the State List. C) Unspecified in any special list. D) In the Concurrent List. Show Answer Correct Answer: A) In the Union List. 13. 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. Show Answer Correct Answer: D) Five Year Plans can continue to provide a long-term perspective to the economy in market friendly fashions. 14. Economic planning is based on certain predetermined ..... which are realistic & flexible A) Goals. B) Plan. C) Objectives. D) Authority. Show Answer Correct Answer: C) Objectives. 15. Goal of 8th five year plan was A) Agriculture. B) Infrastructure development. C) Human development. D) Capital formation. Show Answer Correct Answer: C) Human development. 16. Which are the two models of development? A) Capitalist and socialist. B) Capitalist and Marxist. C) Cpaitalistc and Gandhism. D) None of the above. Show Answer Correct Answer: A) Capitalist and socialist. 17. When government encourages more outsourcing in an economy, it is essentially looking forward to:- A) Liberlisation. B) Globalisation. C) Privatisation. D) Deindustrialisatoin. Show Answer Correct Answer: B) Globalisation. 18. Small Scale Industries use which methods of proiduction? A) Labour intensive. B) Capital Intensive. C) Either Labour or Capital intensive. D) Both Labour and Capital intensive. Show Answer Correct Answer: A) Labour intensive. 19. A rolling plan was a plan for: A) Three years. B) One year. C) Year to year basis. D) Five years. Show Answer Correct Answer: B) One year. 20. Who among the following was the first Chairman of the Planning Commission? [CDS 2008] A) Dr. Rajendra Prasad. B) Pt. Jawahar Lal Nehru. C) Sardar Vallabhbhai Patel. D) J.B. Kripalani. Show Answer Correct Answer: B) Pt. Jawahar Lal Nehru. 21. 6-Which among the following is not available to companies? A) 80 IB. B) 80 C. C) 80 G. D) None of these. Show Answer Correct Answer: B) 80 C. 22. Who is chairperson of NITI Aayog? A) Mrs Mamta Banrjee. B) Mr Piyush Goel. C) Prime Minister Mr Narendra Modi. D) Mrs Sita Raman. Show Answer Correct Answer: C) Prime Minister Mr Narendra Modi. 23. Which part of the Indian Constitution echoes the goal of accomplishing security through the maintenance of peace of india's foreign policy? A) Fundamental Rights. B) Fundamental Duties. C) Directive Principles of the State Policy. D) All of these. Show Answer Correct Answer: C) Directive Principles of the State Policy. 24. ..... undertakes economic planning in a country A) Central planning authority. B) State planning authority. C) Local planning authority. D) None of them. Show Answer Correct Answer: A) Central planning authority. 25. Which of the following is correct? A) M.N Roy-Sarvodaya plan & J.P Narayan-People's plan. B) M.N Roy-People's plan & J.P Narayan-Sarvodaya plan. Show Answer Correct Answer: B) M.N Roy-People's plan & J.P Narayan-Sarvodaya plan. 26. Effort to use modern techniques in science to increase food production in poor countries A) Green revolution. B) Jute. C) Cottage industry. D) Outsourcing. Show Answer Correct Answer: A) Green revolution. 27. 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. Show Answer Correct Answer: A) Taxation only. 28. '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. Show Answer Correct Answer: A) Steady growth begins. 29. Rajya Sabha has ..... nominated members A) Eight. B) Ten. C) Eleven. D) Twelve. Show Answer Correct Answer: D) Twelve. 30. Who was the first Deputy Chairman of Planning Commission of India? A) Shri V.T.Krishnamachari. B) Shri C.Rajagopalachari. C) Dr.Rajendra Prasad. D) Shri Jawaharlal Nehru. Show Answer Correct Answer: A) Shri V.T.Krishnamachari. 31. In which year, the planning commission was established by Indian Government. A) 1946. B) 1950. C) 1930. D) 1992. Show Answer Correct Answer: B) 1950. 32. In which five year plan Private sector got priority ove republic sector for the first time. A) 11th. B) 6th. C) 8th. D) 7th. Show Answer Correct Answer: D) 7th. 33. The ..... has been designatedas Ex-Officio Chairman of the PlanningCommission A) President. B) Finance Minister. C) Government. D) Prime Minister. Show Answer Correct Answer: D) Prime Minister. 34. Which function differs NITI Aayog from the previous planning commission? A) Co-operative federalism between the union and states. B) Non federalism between the union and states. Show Answer Correct Answer: A) Co-operative federalism between the union and states. 35. Chaudhari Charan Singh left the congress party to form which party? A) Bhartiya Lok Dal. B) Socialist Party. C) BJP. D) Communist Party of India. Show Answer Correct Answer: A) Bhartiya Lok Dal. 36. Slogan of garibi hatao was given under which plan A) Plan holiday. B) Third. C) Fourth. D) Seventh. Show Answer Correct Answer: C) Fourth. 37. Which one of the following is NOT with in the duties of the Planning Commission? [NDA 2003] A) To define the stage of growth and suggest allocation of resources. B) To make an assessment of the material, capital and human resources of the country. C) To determine the nature of machinery required for implementation of plan proposals. D) To prepare the annual central budget. Show Answer Correct Answer: D) To prepare the annual central budget. 38. State true or false Most of the development decisions involved political judgment and required consultation among political parties and approval of the public A) True. B) False. Show Answer Correct Answer: A) True. 39. Indian Parliamentary System is based on which model? A) Westminster model. B) Welfare State model. C) Both a & b. D) Neither a nor b. Show Answer Correct Answer: A) Westminster model. 40. Largest reserve of Iron ore A) MP. B) Delhi. C) UP. D) Orrisa. Show Answer Correct Answer: D) Orrisa. 41. Aim of sixth five year plan was A) Technological self reliance. B) Focus on rural infrastructure. C) Self reliance In food grain. D) Employment generation. Show Answer Correct Answer: A) Technological self reliance. 42. The final approval to the Five Year Plans of India is given by: A) President of India. B) National Development Council. C) Ministry of Finance. D) NITI Aayog. Show Answer Correct Answer: B) National Development Council. 43. Fixing the maximum size of land that could be owned by an individual is called ..... A) Land Ownership. B) Consolidation of land holding. C) Land Ceiling. D) Land division. Show Answer Correct Answer: C) Land Ceiling. 44. In the context of India's Five Year Plans, a shift in the pattern of industrialization, with lower emphasis on heavy industries and more on infrastructure begins in [IAS 2010] A) Fourth Plan. B) Tenth Plan. C) Eighth Plan. D) Sixth Plan. Show Answer Correct Answer: C) Eighth Plan. 45. Which five year plan was based on the P.C Mahalanobis model? A) 4th five year plan. B) 2nd five year plan. C) 1st five year plan. D) 3rd five year plan. Show Answer Correct Answer: B) 2nd five year plan. 46. Which state has no Panchayati Raj Institution? A) Mizoram. B) Manipur. C) Nagaland. D) Jarkhand. Show Answer Correct Answer: C) Nagaland. 47. Dadabhai Naoroji theorised on the drain of wealth from India in his book: A) Poverty under British Rule in India. B) Poverty in British Rule in India. C) Poverty and Un-British Rule in India. D) Poverty of Economic Drain in British India. Show Answer Correct Answer: C) Poverty and Un-British Rule in India. 48. The steel plants at Durgapur, Bhilai and Rourkela were established during the period of: [NDA 1990] A) Fourth Five Year PIan. B) Third Five Year Plan. C) Second Five Year Plan. D) First Five Year Plan. Show Answer Correct Answer: C) Second Five Year Plan. 49. Which of the following was initiated by the Government under Liberalisation? A) Denationalisation. B) Decentralisation. C) Dereservation of industries. D) Demonetisation. Show Answer Correct Answer: C) Dereservation of industries. 50. Who gives the final approval to the five-year plans of India? A) National Development Council (NDC). B) Ministry of Finance. C) President of India. D) Planning Commission (now NITI Aayog). Show Answer Correct Answer: A) National Development Council (NDC). 51. Inclusive growth is mentioned in which five year plan? A) 12th. B) 11th. C) 10th. D) 9th. Show Answer Correct Answer: B) 11th. 52. Which five year plan's focus was "growth with justice and equity" A) 9th five year plan. B) 10th five year plan. C) 11th five year plan. D) 12th five year plan. Show Answer Correct Answer: A) 9th five year plan. 53. How many sessions of the Lok Sabha take place in a year? A) 2. B) 4. C) 5. D) 3. Show Answer Correct Answer: D) 3. 54. Adoption of new technogy in production is called ..... A) Self Reliance. B) Growth. C) Modernisation. D) Equity. Show Answer Correct Answer: C) Modernisation. 55. Which of the following was NOT a criticism of the 2nd and 3rd FYP? A) Urban bias-the industry was wrongly given priority over agriculture. B) Focus on agriculture over heavy industry. C) Lack of an agrarian strategy for the development. D) Emphasis on industry caused agriculture and rural India to suffer. Show Answer Correct Answer: B) Focus on agriculture over heavy industry. 56. Improving INternational competitveness of Products of a country is a part of:- A) Structural Measures. B) Part of Globalisation. C) Short Term Measures. D) Stabilization Masures. Show Answer Correct Answer: A) Structural Measures. 57. Which of the following statements is correct? [AAO 1993] A) The Prime Minister is the Chairman of the Planning Commission. B) The draft plan is prepared by the National Development Council. C) Planning Commission is a constitutional body. D) The Minister of Planning is always necessarily the Deputy Chairman of Planning Commission. Show Answer Correct Answer: A) The Prime Minister is the Chairman of the Planning Commission. 58. NITI Aayog established in the year ..... A) 2014. B) 2015. C) 2013. D) 2012. Show Answer Correct Answer: B) 2015. 59. 5-Section 115JB relates to ..... A) Minimum Alternative Tax. B) Securities Transaction Tax. C) Maximum Alternative Tax. D) Surcharge. Show Answer Correct Answer: A) Minimum Alternative Tax. 60. Who made first attempt in laying foundation for economic planning in India in 1934? A) S.C Bose. B) Amartya Sen. C) Vishveshwarya. D) Jawaharlal Nehru. Show Answer Correct Answer: C) Vishveshwarya. ← PreviousNext →Related QuizzesIndian Economy QuizzesGeneral Knowledge QuizzesIndian Economy And Planning Quiz 1Indian Economy And Planning Quiz 3Indian Economy And Planning Quiz 4Fiscal System Of India QuizIndian Economic Development Policy Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books