Elementary Knowledge of Five Year Plans of India NDA Questions

NDA Economics

Elementary Knowledge of Five Year Plans of India MCQ Questions


7.
The Planning Commission of India, responsible for formulating the Five Year Plans, was established on 15 March in which year?
A.
1950
B.
1948
C.
1951
D.
1947
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ANSWER :
A. 1950
8.
The Planning Commission functioned as an extra-constitutional, non-statutory body, with the Prime Minister of India acting, ex-officio, as its:
A.
Deputy Chairman
B.
Chairman
C.
Vice Chairperson only
D.
Member Secretary
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ANSWER :
B. Chairman
9.
The day-to-day functioning and effective charge of the Planning Commission was generally handled by the:
A.
Comptroller and Auditor General
B.
Chief Justice of India
C.
President of India
D.
Deputy Chairman, holding the rank of a Cabinet Minister
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ANSWER :
D. Deputy Chairman, holding the rank of a Cabinet Minister
10.
The apex political body responsible for approving the Five Year Plans, chaired by the Prime Minister and comprising Chief Ministers of all States, was the:
A.
Zonal Council
B.
Inter-State Council
C.
National Development Council (NDC)
D.
Finance Commission
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ANSWER :
C. National Development Council (NDC)
11.
India adopted a system of centralised economic planning through Five Year Plans, largely inspired by the planning model of:
A.
Japan
B.
The United Kingdom
C.
The United States of America
D.
The Soviet Union
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ANSWER :
D. The Soviet Union
12.
The overarching economic strategy that India adopted after independence, combining features of both capitalism and socialism, is best described as:
A.
A purely command (socialist) economy
B.
A barter economy
C.
A purely capitalist market economy
D.
A mixed economy, with both public and private sectors playing a role
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ANSWER :
D. A mixed economy, with both public and private sectors playing a role