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This set of Indian Economy Multiple Choice Questions & Answers (MCQs) focuses on Indian Economy Set 5

Q1 | National Development Council is consists of:
  • Members of the Planning Commission
  • Governors of the states
  • Chief Ministers of the states
  • A & C
Q2 | Three annual plan were launched between:
  • 1969 to 1972
  • 1966 to 1969
  • 1986 to 1989
  • 1988 to 1991
Q3 | National Development Council was set up in:
  • 1948
  • 1950
  • 1951
  • 1952
Q4 | Economic Planning is a subject: [Asstt Grade 1991]
  • in the Union List
  • in the State List
  • in the Concurrent List
  • unspecified in any special list
Q5 | For internal financing of Five Year Plans, the government depends on: [NDA 1991]
  • taxation only
  • taxation and public borrowing
  • public borrowing and deficit financing
  • taxation, public borrowing and deficit financing
Q6 | The National Development Council gets its administrative support from:
  • Planning Commission
  • Finance Commission
  • Administrative Reforms Commission
  • Sarkaria Commission
Q7 | The Five Year Plans of India intend to develop the country industrially through: [NDA 1991]
  • the public sector
  • the private sector
  • the public, private, joint and Cooperative sectors
  • increasing collaboration with non-resident Indians
Q8 | The Planning Commission is : [UP PCS 1994]
  • a Ministry
  • a Government department
  • an Advisory body
  • an Autonomous Corporation
Q9 | Which of the following statements is correct? [AAO 1993]
  • Planning Commission is a constitutional body
  • The Prime Minister is the Chairman of the Planning Commission
  • The Minister of Planning is always necessarily the Deputy Chairman of Planning Commission
  • The draft plan is prepared by the National Development Council
Q10 | The principal reason why national economic planning is still being pursued inspite of embracing a market economy since 1991 is that: [IAS 1994]
  • the vast quantity of capital already deployed in the public sector needs to be nurtured
  • the market economy is mainly confined to industry and commerce and central planning in agriculture is necessary
  • it is a constitutional requirement
  • Five Year Plans can continue to provide a long-term perspective to the economy in market friendly fashions
Q11 | 'Take off stage' in an economy means: [CBI 1990]
  • steady growth begins
  • economy is stagnant
  • economy is about to collapse
  • all controls are removed
Q12 | Planning in India derives its objectives from:
  • Fundamental Rights
  • Directive Principles of State policy
  • Fundamental Duties
  • Preamble
Q13 | 70% of working population of India is engaged in:
  • public sector
  • primary sector
  • secondary sector
  • tertiary sector
Q14 | Economic survey is published by :[IAS 1998]
  • Ministry of Finance
  • Planning Commission
  • Govt. of India
  • Indian Statistical Institute
Q15 | Who is called the 'Father of Economics' ?
  • Max Muller
  • Karl Marx
  • Adam Smith
  • None of these
Q16 | The concept of Five Year Plans in India was introduced by
  • Lord Mountbatten
  • Jawaharlal Nehru
  • Indira Gandhi
  • Lal Bahadur Shastri
Q17 | India has: [CDS 1992]
  • Socialistic economy
  • Gandhian economy
  • Mixed economy
  • Free economy
Q18 | India opted for 'Mixed Economy' in :
  • Framing of the Constitution
  • Second Five Year Plan
  • Industrial Policy of 1948
  • None of the above
Q19 | Mixed economy means an economy where [CDS 2009]
  • both agriculture and industry are equally promoted by the state
  • there is co-existence of public sector along with private sector
  • there is importance of small scale industries along with heavy industries
  • economy is controlled by military as well as civilian rulers
Q20 | India's economic planning CANNOT be said to be : [NDA 2002]
  • indicative
  • imperative
  • limited
  • democratic
Q21 | Which of the following could be said to have prevented the 'trickle down' effects inIndian economy? 1. Increased dependence of agriculture on purchased inputs and privately managed irrigation 2. More employment of labour by larger landholding farmers 3. Lowered participation of women in agricultural workforce due to new technology 4. The failure of the Green Revolution
  • 1 and 2
  • 2 and 3
  • 1 and 3
  • 2 and 4
Q22 | Which of the following are not correct assessments of the decades of India's Five-YearPlans? 1. There has been very low capital formation 2. Growth has favoured the better off 3. Production has increased substantially though often falling short of targets 4. The public sector has contributed nothing to economic growth
  • 1 and 4
  • 2 and 3
  • 1, 2 and 3
  • 3 and 4
Q23 | Who is the Deputy Chairman of Planning Commission?
  • Prime Minister
  • Finance Minister
  • Commerce Minister
  • None of the above
Q24 | The deputy chairman of the Planning Commission: [UP PCS 1994]
  • is the Prime Minister
  • is the Planning Minister
  • holds the rank of a cabinet minister
  • is an economist of repute
Q25 | Who was the first Deputy Chairman of Planning Commission of India?
  • Shri Jawaharlal Nehru
  • Dr.Rajendra Prasad
  • Shri V.T.Krishnamachari
  • Shri C.Rajagopalachari