Who formulates five year plans in India?

1. Reserve Bank of India.
2. Planning Commission.
3. Parliament.
4. Supreme Court.

When was first five-year plan introduced?

1. 1st April, 1950
2. 1st April, 1951
3. 1st April, 1952
4. 31st March, 1950

Which economic sector has the highest share in India's GDP?'

1. Agriculture Sector.
2. Tertiary Sector.
3. Industrial Sector.
4. Export Sector.

Capitalist structure was not adopted by Indian economy due to:

1. Less scope for improvement of quality of human life.
2. More democratic structure was needed.
3. There was a need to reduce role of public sector.
4. None of the above.

Strategic industries were under the control of _______ under IPR, 1956.

1. Public Sector.
2. Private Sector.
3. Joint Sector.
4. None of the above.

.......... is an economy having elements of both capitalist and socialist economy.

1. Mixed economy.
2. Socialist economy.
3. Capitalist economy.
4. None of these.

The Indian Policy Resolution, 1956 classified industries into...... categories.

1. One.
2. Two.
3. Three.
4. Four.

Who takes the decisions regarding production and distribution of commodities in a mixed economy?

1. Market forces of demand and supply.
2. Government.
3. Both a and b in a combined way.
4. God.

One of the following features is not associated with a socialist economy. Identify the feature.

1. The economy has no private property and everything is owned by the State.
2. The government provides free health care to those who need it.
3. Incomes are more or less equitably distributed
4. It is called a free market economy.

The starting of land reforms programmes was set up in the right direction but it could not be successful because of:

1. Lack of political will.
2. Malafide transfers.
3. Inadequate proof of tenancy.
4. All of the above.

In which of the following state did land reforms succeed the most?

1. Punjab.
2. Haryana.
3. Tamil Nadu.
4. West Bengal.

Under which economy, the goods are distributed among people on the basis of demand and not on what people need?

1. Capitalist economy.
2. Socialist economy.
3. Mixed economy.
4. Dual economy.

In the post-independence period, India adopted a ......... approach.

1. Socialist economy.
2. Mixed economy.
3. Capitalist economy.
4. None of these.

In India, what type of economic system is being followed?

1. Capitalism.
2. Socialism.
3. Mixed.
4. Monarchy.

Protection of domestic industries took the form of:

1. Quotas.
2. Tariffs.
3. Both (a) and (b).
4. None of the above.

When was the ‘Village and Small Scale Industries Committee' set up?

1. 1955
2. 1958
3. 1949
4. 1950.

Diversification of growth process can be achieved through the development of:

1. Agricultural sector.
2. Industrial sector.
3. Foreign trade.
4. Service sector.

In India, ...... was the Chairperson of Planning Commission.

1. Director.
2. Chief Minister.
3. President.
4. Prime Minister.

Which economic system is based upon the market forces of demand and supply?

1. Capitalism.
2. Socialism.
3. Mixed.
4. Monarchy.

Who was the first chairperson of the Planning Commission of India?

1. Jawahar Lal Nehru.
2. Rajendra Prasad.
3. Dadabhai Naroji.
4. R.C. Desai.

The second phase of Green Revolution started in:

1. mid 60s
2. mid 70s
3. mid 80s
4. mid 90s

Who takes the decisions regarding production and distribution of commodities in a socialist economy?

1. Market forces of demand and supply.
2. Government.
3. Both a and b in a combined way.
4. God.

A good indicator of growth is steady increase in the:

1. Gross Domestic Product.
2. Net Domestic Product.
3. Population.
4. National Income.

The goal of equitable or rational distribution of land was not fully served by abolition of intermediaries. Why?

1. Owing to policy loopholes former zamindars continued to owed large lands.
2. In some areas zamindars claimed to be self-cultivator.
3. Lack of political will.
4. All of the above.

The starting of land reforms programmes was set up in the right direction but it could not make much progress because of:

1. Lack of political will.
2. Malafide transfers.
3. Inadequate proof of tenants.
4. All the above.

Which factor led to the breaking up of the stagnation of agriculture?

1. Land reforms.
2. Green Revolution.
3. Buffer stocks.
4. Land ceiling.

The Planning Commission was set up in:

1. 1948
2. 1950
3. 1951
4. 1956

Which of the following statement are true for Indian agriculture for pre and post colonial period?

1. Dependency of workforce in agriculture observed a gradual decline after colonial period.
2. Land ceiling policy was a huge success leading to abolition of intermediaries completely.
3. Green Revolution benefitted to big farmer more than small and marginal farmers.
4. All are the true.

Schedule B of IPR 1956 includes:

1. Those industries which are reserved for public sector.
2. Those industries which are open for both public and private sectors.
3. Residual industries.
4. Industries in which only Small Scale Industries can enter.

During the initial stages of planning, special concessions were given to the industries producing goods to be used as substitutes for imported goods. This strategy was named as:

1. Inward looking trade strategy.
2. Outward looking trade strategy.
3. Export promotion strategy.
4. None of the above.

Green Revolution introduced during the planning process was restricted mainly to crops like:

1. Wheat and rice.
2. Cereals and pulses.
3. Cotton and jute.
4. Jowar and bajra.

Green revolution leads to marketable surplus. What does it refers to?

1. Production of crops for self-consumption.
2. Production of crops for selling in market.
3. Production of crops for maintaining sufficient stock.
4. All of the above.

Under which system the goods are distributed among people not on the basis of what people need but on the basis of purchasing power?

1. Capitalistic system.
2. Socialistic system.
3. Mixed system.
4. Dual system.

In which year was the Planning Commission was set up in India?

1. 1947
2. 1948
3. 1949
4. 1950

Green Revolution introduced during the planning process was restricted mainly to:

1. Wheat and rice.
2. Cereals and pulses.
3. Cotton and jute.
4. Jowar and bajra.

Which of the following is not true for small scale industries?

1. SSI is labour intensive and therefore, employment oriented.
2. SSI needs small investment and is therefore, equity oriented.
3. SSI is capital intensive and therefore, increases productivity.
4. SSI shows locational flexibility and is therefore, equality oriented.

When was planning initiated in India?

1. In 1951
2. In 1952
3. In 1950
4. In 1956

Who is known as the architect of Indian Planning'?

1. Jawaharlal Nehru.
2. Dr. BR Ambedkar.
3. PC Mahalanobis.
4. Sardar Vallabh bhai Patel.

What is meant by GDP?

1. It refers to total value of investment made in a year.
2. It is sum total of all final goods and services produced in an economy in a financial year.
3. It is national Income divided by population.
4. It is foreign investment made in a year.

Land reforms measures introduced by India like many other developing countries with the objective(s) of:

1. Attaining a rational land distribution pattern.
2. Viable farming structure.
3. To raise farmers income.
4. All of the above.

Who is considered to be the architect of Indian planning?

1. Willian Digby.
2. P.C. Mahalanobis.
3. Dadabhai Naroji.
4. R.C. Desai.

Long-term objectives to be achieved over a long period of time formulated with reference to common goals of plans are called:

1. Objectives of plans.
2. Objectives of planning.
3. Perspective plans.
4. Both (b) and (c).

Which of the following features is not associated with a socialist economy?

1. The economy has no private property and everything is owned by the state.
2. The government decides what to produce, how to produce and for whom to produce.
3. Incomes are equitably distributed.
4. It is called a free market economy.

What is meant by Per Capita Income?

1. It refers to total value of investment made in a year.
2. It is sum total of all final goods and services produced in an economy in a financial year.
3. It is national income divided by population.
4. It is foreign investment made in a year.

Modernisation is necessary increase in the country's capacity to produce the output of goods and services within the country. (True/ False)

The deficit portion of agriculture produce which is sold into the market by the farmers is called marketed surplus. (True/ False)

Capitalist economy takes major economic decisions, i.e., what to produce, how to produce and for whom to produce. (True/ False)

Self-reliance refers to the utilisation of country's resources in order to promote economic growth and modernisation without using the resources imported from other countries. (True/ False)

__________ sector was mainly dependent on monsoon.

_________ refers to an arrangement by which central problems of an economy are solved.

National Development Council was set up in _________.

The excess portion of agriculture produce, which is sold into the market by the farmers, is called _____________.

____________ means utilisation of country's resources into different development activities in accordance with the national priorities.

Public enterprises played a central role in the process of __________.

__________ were initiated in order to bring equity in ownership of landholdings.

Planning commission was set up in ___________.

_________, __________, ________, and ___________ are the common goals of fiveyear plans.

Mention any one advantage of Organic farming.

State the meaning of ‘White Revolution’.

Why is agriculture in India, still dependent on rainfall?

What were the central objectives of Indian planning?

How do the PSUs promote equality?

Define the term 'Self Reliance'.

What is 'Import-substitution'?

Define a plan.

What do you understand by foreign trade?

What does the term 'growth in the context of a country denote?

What do you understand by a plan?

What is 'Sankhya'?

Define a small scale industry.

Give two examples of socialist economy.

How do the PSUs help in the development of backward regions?

What do you understand by 'tariff'?

In which year was the planning commission set up?

Give any one merit and one demerit of a socialist economy.

What is the meaning of economic planning?OR
What is meant by economic planning?

Why should plans have goals?

What are High Yielding Variety (HYV) seeds?

What is marketable surplus?

What is the 'Structural Composition' of an economy?

What do you understand by Green Revolution?

What are those economies called where it is the government and the market together answering the questions What, How and For whom?

What is a 'perspective plan'?

What is ‘Marketed Surplus'?

Which economy is referred to as a 'laissez-faire' economy?

Which Five Year Plan is also referred to as 'Mahalanobis plan?

Why did India opt for planning?

Give one main feature of capitalist economy.

Has India managed to achieve the targeted growth rate of industrial production during the various plans?

What is subsidy?

The objective of 'modernisation' pursued by the Five Year Plan was of immense importance for India. Why?

Define economic planning.

What do you mean by land reforms?

Define a 'small-scale industry'.

How did government ensure that the small farmers also benefit from the Green Revolution as the rich farmers?

Trace the growth of industrial sector during the period 1950-51 to 1990-91.

USA, in 1965 pressurised India to stop its war with Pakistan with a threat to stop the supply of foodgrains to India. This action highlights the importance of a specific objective which was pursued as a common goal of Five Year Plans. Identify and explain this objective.

Do you think there is any contradiction between growth and self-reliance and growth and employment generation?

What were the drawbacks of the licensing policy followed by the government before 1991?

Explain how import substitution can protect domestic industry.