This quiz works best with JavaScript enabled. Home > Indian Economy > Planning > Indian Economy And Planning – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Economy And Planning Quiz 1 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which was the last Five Year plan in Indian? A) 11th. B) 12th. C) 14th. D) 13th. Show Answer Correct Answer: B) 12th. 2. If the total deposit created by commercial banks is Rs 20000 cr and LRR is 20%, then amount of initial deposit will be A) Rs 2000 cr. B) Rs 3000 cr. C) Rs 4000 cr. D) Rs 14000 cr. Show Answer Correct Answer: C) Rs 4000 cr. 3. Deposit creation process comes to an end when A) Fresh deposit with bank become zero. B) LRR become zero. C) Money multiplier becomes zero. D) Total reserves equal initial deposits. Show Answer Correct Answer: D) Total reserves equal initial deposits. 4. Which one of the following is a driving force influencing the industrial growth of an economy? [Corporation' Bank PO 2011] A) Economic Factors only. B) Investment only. C) Innovation/Market Base only. D) All A , B & C. Show Answer Correct Answer: D) All A , B & C. 5. What was the period of the 12th five-year plan of India? A) 2012 to 2017. B) 2007 to 2012. C) 2017 to 2022. D) 2010 to 2015. Show Answer Correct Answer: A) 2012 to 2017. 6. 1-Using the loopholes of law to reduce tax is known as A) Tax evasion. B) Tax planning. C) Tax avoidance. D) Tax management. Show Answer Correct Answer: C) Tax avoidance. 7. In which year was india's first five year Plan launched? A) 1951. B) 1947. C) 1949. D) 1955. Show Answer Correct Answer: A) 1951. 8. Which five year plan was based on Harrod-domar Model & its main focus on the agricultural development of the country? A) 1st five year plan. B) 2nd five year plan. C) 3rd five year plan. D) 4th five year plan. Show Answer Correct Answer: A) 1st five year plan. 9. After independence Modernization was associated with1. The ideas of growth2. Material progess3. Scientific rationality A) 1 and 2. B) 2 and 3. C) 1 and 3. D) All. Show Answer Correct Answer: D) All. 10. Narendra Modi announced demonetization on A) 8th November 2016. B) 8th October 2016. C) 8th July 2016. D) None of above. Show Answer Correct Answer: A) 8th November 2016. 11. Which five year plan was the motto or slogan "Garibi-Hatao" (Poverty eradication) A) 3rd five year plan. B) 4th five year plan. C) 5th five year plan. D) 6th five year plan. Show Answer Correct Answer: D) 6th five year plan. 12. What is the other name of Inward Looking Trade Policy? A) Import Substitution. B) Export Substitution. C) Trade Promotion. D) Trade Restriction. Show Answer Correct Answer: A) Import Substitution. 13. 4-If the tax liability of a company is less than 15 % of its book profits, the company is liable to pay MAT at the rate of ..... A) 15% of books profits plus Surcharge) if any) plus 4% HEC. B) 16% of books profits plus Surcharge)if any) plus 4% HEC. C) 16.5% of books profits plus Surcharge)if any) plus 4% HEC. D) 18.5% of books profits plus Surcharge(if any) plus 4% HEC. Show Answer Correct Answer: A) 15% of books profits plus Surcharge) if any) plus 4% HEC. 14. The basic difference between imperative and indicative planning is that: [IAS 1993] A) It is easier to achieve targets in imperative type of planning. B) In the case of imperative planning, all economic activities belong to public sector, while in the other type they belong to the private sector. C) In the case of the imperative planning, the market mechanism is entirely replaced by a command hierarchy, while in the case of indicative planning, it is looked upon as a way to improve the functioning of the market system. D) In the case of indicative planning, there is no need to nationalise any industry. Show Answer Correct Answer: C) In the case of the imperative planning, the market mechanism is entirely replaced by a command hierarchy, while in the case of indicative planning, it is looked upon as a way to improve the functioning of the market system. 15. The legislature also ensures that the government does not misspend or overspend through the ..... A) Taxes. B) Budget. C) Panel Discussion. D) Niti Aayog. Show Answer Correct Answer: B) Budget. 16. 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. Show Answer Correct Answer: C) The public, private, joint and Cooperative sectors. 17. Which of the followings is not an objective of Five Year Plans of India? A) Self Reliance. B) Industrial Revolution. C) Modernisation. D) Growth. Show Answer Correct Answer: B) Industrial Revolution. 18. The planning commission was set up in March 1950 by a ..... of the govt of India. A) Constitution resolution. B) Simple resolution. C) Constitution amendment. D) Agreement between Indian and USSR. Show Answer Correct Answer: B) Simple resolution. 19. The first five year plan started on A) 1850. B) 1950. C) 1951. D) 1960. Show Answer Correct Answer: C) 1951. 20. When did the first 5year plan came into effect A) 1st April 1951. B) 1st April 1961. C) 1st April 1971. D) 1st April 1941. Show Answer Correct Answer: A) 1st April 1951. Next →Related QuizzesIndian Economy QuizzesIndian 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 8Indian Economy And Planning Quiz 9Indian Economy And Planning Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books