This quiz works best with JavaScript enabled. Home > Indian Economy > Planning > Indian Economy And Planning – Quiz 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Economy And Planning Quiz 7 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following statements is correct? [AAO 1993] A) Planning Commission is a constitutional body. B) The Prime Minister is the Chairman of the Planning Commission. C) The Minister of Planning is always necessarily the Deputy Chairman of Planning Commission. D) The draft plan is prepared by the National Development Council. Show Answer Correct Answer: B) The Prime Minister is the Chairman of the Planning Commission. 2. NITI Aayog established in the year ..... A) 2012. B) 2013. C) 2014. D) 2015. Show Answer Correct Answer: D) 2015. 3. 5-Section 115JB relates to ..... A) Securities Transaction Tax. B) Maximum Alternative Tax. C) Minimum Alternative Tax. D) Surcharge. Show Answer Correct Answer: C) Minimum Alternative Tax. 4. Who made first attempt in laying foundation for economic planning in India in 1934? A) Vishveshwarya. B) Amartya Sen. C) Jawaharlal Nehru. D) S.C Bose. Show Answer Correct Answer: A) Vishveshwarya. 5. The deputy chairman of the Planning Commission: [UP PCS 1994] A) Is the Prime Minister. B) Is the Planning Minister. C) Holds the rank of a cabinet minister. D) Is an economist of repute. Show Answer Correct Answer: C) Holds the rank of a cabinet minister. 6. 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. 7. The Second Five Year Plan laid more stress upon: A) Agriculture. B) Industrialisation. C) Removing poverty. D) Self-reliance. Show Answer Correct Answer: B) Industrialisation. 8. The National Development Council gets its administrative support from: A) Planning Commission. B) Finance Commission. C) Administrative Reforms Commission. D) Sarkaria Commission. Show Answer Correct Answer: A) Planning Commission. 9. The Planning Commission in India was set up in: A) 1953. B) 1957. C) 1950. D) 1951. Show Answer Correct Answer: C) 1950. 10. Which of the following system is followed by RBI for issuing currency? A) Proportionate system. B) Simple deposit system. C) Minimum reserve system. D) Fixed fiduciary issue system. Show Answer Correct Answer: C) Minimum reserve system. 11. 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. 12. 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. 13. 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. 14. 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. 15. 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. 16. 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. 17. 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. 18. 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. 19. 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). 20. 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). ← PreviousNext →Related QuizzesIndian Economy 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 8Indian Economy And Planning Quiz 9Indian Economy And Planning Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books