This quiz works best with JavaScript enabled. Home > Indian Economy > Indian Economy And Planning – Quiz 8 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Economy And Planning Quiz 8 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. 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. 2. According to IPR 1956 the industries in which private sector could supplement the efforts of the state sector comes under which category? A) First category. B) Second category. C) Third category. D) Fourth category. Show Answer Correct Answer: B) Second category. 3. India's economic planning CANNOT be said to be : [NDA 2002] A) Indicative. B) Imperative. C) Limited. D) Democratic. Show Answer Correct Answer: B) Imperative. 4. 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. 5. In which of the Five Year Plans, preference was given to the weaker sections of the society ? A) Second. B) Third. C) Fourth. D) Fifth. Show Answer Correct Answer: D) Fifth. 6. NO.7 THE NEW AGRICULTURE STRATEGY WAS ADOPTED IN INDIA DURING THE A) 3 PLAN. B) 4 PLAN. C) 2 PLAN. D) 5 PLAN. Show Answer Correct Answer: A) 3 PLAN. 7. Money which is accepted as a medium of exchange because of the trust between the payer and the payee is called A) Full bodied money. B) Credit money. C) Fiat money. D) Fiduciary money. Show Answer Correct Answer: D) Fiduciary money. 8. 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. 9. 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). 10. 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). 11. 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. 12. 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. 13. 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. 14. 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. 15. Which organisation replaces Planning Commision in India? A) CSO. B) NSSO. C) NITI Ayog. D) RBI. Show Answer Correct Answer: C) NITI Ayog. 16. ..... is an indirectly elected body A) Lok Sabha. B) Supreme Court. C) Rajya Sabha. D) High Court. Show Answer Correct Answer: C) Rajya Sabha. 17. Functions of NITI Aayog is a A) Centralized Planning. B) Decentralized Planning. Show Answer Correct Answer: B) Decentralized Planning. 18. During which five year plan, New Economic Policy of India was introduced? A) 5th five year plan. B) 6th five year plan. C) 7th five year plan. D) 8th five year plan. Show Answer Correct Answer: D) 8th five year plan. 19. 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. 20. 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. ← PreviousNext →Related QuizzesIndian Economy And Planning Quiz 1Indian Economy And Planning Quiz 2Indian Economy And Planning Quiz 3Indian Economy And Planning Quiz 4Indian Economy And Planning Quiz 5Indian Economy And Planning Quiz 6Indian Economy And Planning Quiz 7Indian Economy And Planning Quiz 9Indian Economy And Planning Quiz 10Indian Economy And Planning Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books