This quiz works best with JavaScript enabled. Home > General Knowledge > Indian Economy > Planning > Indian Economy And Planning – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Economy And Planning Quiz 3 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The deputy chairman of the Planning Commission: [UP PCS 1994] A) Is the Planning Minister. B) Holds the rank of a cabinet minister. C) Is the Prime Minister. D) Is an economist of repute. Show Answer Correct Answer: B) Holds the rank of a cabinet minister. 2. NITI Aayog is planning a new framework for A) Five-Year Plans. B) Finance Commission. C) Budget. D) All of the above. Show Answer Correct Answer: A) Five-Year Plans. 3. The Second Five Year Plan laid more stress upon: A) Removing poverty. B) Agriculture. C) Self-reliance. D) Industrialisation. Show Answer Correct Answer: D) Industrialisation. 4. The National Development Council gets its administrative support from: A) Administrative Reforms Commission. B) Sarkaria Commission. C) Finance Commission. D) Planning Commission. Show Answer Correct Answer: D) Planning Commission. 5. The Planning Commission in India was set up in: A) 1951. B) 1953. C) 1950. D) 1957. Show Answer Correct Answer: C) 1950. 6. Which of the following system is followed by RBI for issuing currency? A) Proportionate system. B) Simple deposit system. C) Fixed fiduciary issue system. D) Minimum reserve system. Show Answer Correct Answer: D) Minimum reserve system. 7. Economic planning is a ..... boundprogramme to achieve certain objectives A) Time. B) Money. C) Subject. D) None of them. Show Answer Correct Answer: A) Time. 8. According to IPR 1956 the industries in which private sector could supplement the efforts of the state sector comes under which category? A) Second category. B) First category. C) Fourth category. D) Third category. Show Answer Correct Answer: A) Second category. 9. India's economic planning CANNOT be said to be : [NDA 2002] A) Imperative. B) Limited. C) Democratic. D) Indicative. Show Answer Correct Answer: A) Imperative. 10. The Government of India replaced the Planning Commission with a new institution of A) NITI Aayog. B) National Development Council. C) National Institute of Development. D) None of these. Show Answer Correct Answer: A) NITI Aayog. 11. In which of the Five Year Plans, preference was given to the weaker sections of the society ? A) Fifth. B) Second. C) Third. D) Fourth. Show Answer Correct Answer: A) Fifth. 12. NO.7 THE NEW AGRICULTURE STRATEGY WAS ADOPTED IN INDIA DURING THE A) 2 PLAN. B) 4 PLAN. C) 5 PLAN. D) 3 PLAN. Show Answer Correct Answer: D) 3 PLAN. 13. Money which is accepted as a medium of exchange because of the trust between the payer and the payee is called A) Fiat money. B) Fiduciary money. C) Credit money. D) Full bodied money. Show Answer Correct Answer: B) Fiduciary money. 14. The state which has achieved nearly total literacy in India: A) Tamil Nadu. B) Kerala. C) Andhra Pradesh. D) Manipur. Show Answer Correct Answer: B) Kerala. 15. Which ministry is entrusted with the formulation of National Income? A) Ministry of Finance. B) Ministry of Human Resource & Development. C) NITI Aayog. D) Ministry of Statistics and Programme (CSO). Show Answer Correct Answer: D) Ministry of Statistics and Programme (CSO). 16. The main aim of 1 FYP? A) To set up IT industries in the country. B) To focus mainly on the agrarian sector (investment in dams and irrigation and raise national income level). C) Focus on women welfare and safety. D) Look after the need of minorities. Show Answer Correct Answer: B) To focus mainly on the agrarian sector (investment in dams and irrigation and raise national income level). 17. Who is regarded as the father of economic planning in India? A) SIR M. VISVESVARAYA. B) Alfred Marshall. C) Adam Smith. D) John Keynes. Show Answer Correct Answer: A) SIR M. VISVESVARAYA. 18. The Orissa govt hopes to extract iron ore from the state.2. Orrisa govt has signed MOU with domestic steelmakers. A) Only 1. B) Only 2. C) Both. D) None. Show Answer Correct Answer: A) Only 1. 19. Assertion:Development has different meanings for different sections of the people. Reason:Development for one may be a disaster for other A) Both A and R are true and R is the correct explanation of A. B) Both A and R are true and R is NOT the correct explanation of A. C) A is true but R is false. D) A is false but R is true. E) Both A and R are false. Show Answer Correct Answer: A) Both A and R are true and R is the correct explanation of A. 20. Transfer of value has become easier with A) Evolution of money. B) Storage of money. C) Measure of value. D) All of these. Show Answer Correct Answer: A) Evolution of money. 21. Which organisation replaces Planning Commision in India? A) NSSO. B) RBI. C) CSO. D) NITI Ayog. Show Answer Correct Answer: D) NITI Ayog. 22. ..... is an indirectly elected body A) High Court. B) Rajya Sabha. C) Lok Sabha. D) Supreme Court. Show Answer Correct Answer: B) Rajya Sabha. 23. Functions of NITI Aayog is a A) Decentralized Planning. B) Centralized Planning. Show Answer Correct Answer: A) Decentralized Planning. 24. During which five year plan, New Economic Policy of India was introduced? A) 6th five year plan. B) 5th five year plan. C) 8th five year plan. D) 7th five year plan. Show Answer Correct Answer: C) 8th five year plan. 25. Money is the most liquid of all the asset because A) It is a medium of exchange. B) It is an unit of account. C) It act as a store of value. D) It is a standard of deferred payment. Show Answer Correct Answer: A) It is a medium of exchange. 26. Who was the chairperson of the planning commission after independence? A) Gandhi Ji. B) Sardar Patel. C) Jawaharlal Nehru. D) Lal Bahadur Shastri. Show Answer Correct Answer: C) Jawaharlal Nehru. 27. The Indian national highway system was introduced for the first time in ..... Five Year Plan. A) 5th. B) 7th. C) 6th. D) 4th. Show Answer Correct Answer: C) 6th. 28. NITI Aayog's governing council does not comprises of A) CMs of all states. B) CMs of UT with legislatures (i.e Delhi and Puducherry). C) Lt. Governors of UT. D) Governors of all states. Show Answer Correct Answer: D) Governors of all states. 29. Gross National Happiness Index (GNHI) traced its origin A) Myanmar. B) Nepal. C) India. D) Bhutan. Show Answer Correct Answer: D) Bhutan. 30. Which statement is correct for Indian Planning Commission? A) It is not defined in Indian Constitution. B) Members and Vice-Chairman of it do not have fixed working duration. C) Members do not require any minimum education. D) All of the these. Show Answer Correct Answer: D) All of the these. 31. Who was the crafter of Second FYP? A) Jawaharlal Nehru. B) K.N Raj. C) P.C Mahalanobis. D) B.R Ambedkar. Show Answer Correct Answer: C) P.C Mahalanobis. 32. The growth rate of agricultural production was negative in the: A) Third Plan. B) Second Plan. C) First Plan. D) Fourth Plan. Show Answer Correct Answer: A) Third Plan. 33. The Draft of 5th five year plan was prepared and launched by A) Indira Sawney. B) D.P. Dhar. C) J.P Kriplani. D) Dr. B.R Ambedkar. Show Answer Correct Answer: B) D.P. Dhar. 34. Left often refers to those who are in favor of the rich. 2. Left support govt policies for the benefit of poor sections A) Only 1. B) Only 2. C) Both. D) None. Show Answer Correct Answer: B) Only 2. 35. 70% of working population of India is engaged in: A) Primary sector. B) Tertiary sector. C) Public sector. D) Secondary sector. Show Answer Correct Answer: A) Primary sector. 36. What possess general acceptability? A) Bank draft. B) Money. C) Bill of exchange. D) None of above. Show Answer Correct Answer: B) Money. 37. Which of the following statements about the Indian Economy is correct? [RBI Grade B Officer 2011] A) Indian economy is as developed as that of China. B) About 70% Indians are involved in some type of self-employment and are the owners of some or the other micro or small enterprise. C) In India, single biggest employment is agriculture and allied activities. D) About 48% Indian workforce is employed in foreign countries or in organizations assisted by foreign capital. Show Answer Correct Answer: C) In India, single biggest employment is agriculture and allied activities. 38. During which Plan did prices show a decline? A) First. B) Third. C) Fifth. D) None of the above. Show Answer Correct Answer: A) First. 39. The strategy of Rolling plan was adopted during the Prime Ministership of: [Railways 1994] A) Lal Bahadur Shastri. B) Indira Gandhi. C) Morarji Desai. D) Rajiv Gandhi. Show Answer Correct Answer: C) Morarji Desai. 40. Who is the Deputy Chairman of Planning Commission? A) Prime Minister. B) Finance Minister. C) Commerce Minister. D) None of the above. Show Answer Correct Answer: D) None of the above. 41. In which year was the operation flood started? A) 1977. B) 1970. C) 1980. D) 1971. Show Answer Correct Answer: B) 1970. 42. The 5-year plan was adopted in India from: A) Australia. B) United soviet socialist republic. C) USA. D) Japan. Show Answer Correct Answer: B) United soviet socialist republic. 43. Which one of the following is the correct sequence in the decreasing order of contribution of different sectors to the Gross Domestic Product of India ? [IAS 2007] A) Industry-Services-Agriculture. B) Industry-Agriculture-Services. C) Services-Industry-Agriculture. D) Services-Agriculture-Industry. Show Answer Correct Answer: C) Services-Industry-Agriculture. 44. During 1965-67 which state faced a near-famine situation? A) Bihar. B) Manipur. C) MP. D) Tamil Nadu. Show Answer Correct Answer: A) Bihar. 45. 2-A company which is neither an Indian company not has made the prescribed arrangements for the declaration and payment of dividends within India is called ..... A) Public sector company. B) Domestic Company. C) Foreign Company. D) Provincial company. Show Answer Correct Answer: C) Foreign Company. 46. India has: [CDS 1992] A) Socialistic economy. B) Gandhian economy. C) Mixed economy. D) Free economy. Show Answer Correct Answer: C) Mixed economy. 47. GDP is also know as National Income A) True. B) False. Show Answer Correct Answer: A) True. 48. Which 5-year plan failed in its target due to Indo-china war and is also known as 'Gadgil Yojana'? A) 3rd five year plan. B) 4th five year plan. C) 1st five year plan. D) 2nd five year plan. Show Answer Correct Answer: A) 3rd five year plan. 49. Which of the following gives an accurate measurement of economic development through Five Year Plans? A) Development of education and health services. B) Development of railways and roadways. C) Rise in national income and per capita income. D) Development of industrial towns and industrial estates. Show Answer Correct Answer: C) Rise in national income and per capita income. 50. NITI Aayog is based on the following no. of pillars of effective governance A) 8. B) 7. C) 9. D) 6. Show Answer Correct Answer: B) 7. 51. ..... is the rate at which commercial banks borrow short term funds from the central bank by selling their financial securities to the central bank A) Bank rate. B) CRR. C) Repo rate. D) SLR. Show Answer Correct Answer: C) Repo rate. 52. 3-Tonnage tax system is exclusively intended to ..... A) IT Companies. B) Shipping Companies. C) Partnership firms. D) Joint stock Companies. Show Answer Correct Answer: B) Shipping Companies. 53. The contribution of agriculture to India's' economy is: A) Increasing. B) Decreasing. C) Constant. D) None of these. Show Answer Correct Answer: B) Decreasing. 54. The principal obstacle in the way of agricultural growth was the A) People's attitude. B) Status of Zamindars. C) The pattern of land distribution. D) Heath of farmers. Show Answer Correct Answer: C) The pattern of land distribution. 55. The members of Parliament can express themselves in the House in A) English only. B) Hindi only. C) English, Hindi or mother tongue. D) English or Hindi. Show Answer Correct Answer: C) English, Hindi or mother tongue. 56. Who of the following was the author of the chapter on "Objectives of Planned Development" for the Third Five Year Plan? [IAS 2008] A) Lal Bahadur Shastri. B) Jawaharlal Nehru. C) Morarji Desai. D) C.D. Deshmukh. Show Answer Correct Answer: C) Morarji Desai. 57. Under whose leadership were the private banks nationalized? A) Jawaharlal Nehru. B) Lal Bahadur Shastri. C) Indira Gandhi. D) Rajiv Gandhi. Show Answer Correct Answer: C) Indira Gandhi. 58. Which one of the following Five-Year Plans recognised human development as the core of all developmental efforts? [IAS 1995] A) The Fifth Five-Year Plan. B) The Sixth Five-Year Plan. C) The Eighth Five-Year Plan. D) The Third Five-Year Plan. Show Answer Correct Answer: C) The Eighth Five-Year Plan. 59. Rolling plan was in between A) 3rd and 4th five year plan. B) 4th and 5th five year plan. C) 5th and 6th five year plan. D) 6th and 7th five year plan. Show Answer Correct Answer: C) 5th and 6th five year plan. 60. Which of the following is correct about the planning in India? A) Mixed Economy has been the framework of planning in India. B) The duration of the Twelfth Five Year Plan was 2012-17. C) Planning in India with a heavy reliance on the public sector. D) All of these. Show Answer Correct Answer: D) All of these. ← PreviousNext →Related QuizzesIndian Economy QuizzesGeneral Knowledge QuizzesIndian Economy And Planning Quiz 1Indian Economy And Planning Quiz 2Indian Economy And Planning Quiz 4Fiscal System Of India QuizIndian Economic Development Policy Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books