Indian Economy Problems And Policies Set 1

Master of Arts in Economics (MA Economics),

Union Public Service Commission (UPSC)

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This set of Indian Economy Problems and Policies Multiple Choice Questions & Answers (MCQs) focuses on Indian Economy Problems And Policies Set 1

Q1 | National Development Council was set up in:
  • 1948
  • 1950
  • 1951
  • 1952
Answer: 1952
Q2 | Economic Planning is a subject:
  • in the unionlist
  • in the state list
  • in the concurrent list
  • unspecified in any speciallist
Answer: in the unionlist
Q3 | For internal financing of Five Year Plans, the government depends on:
  • taxation only
  • taxation and public borrowing
  • public borrowing and deficitfinancing
  • taxation, public borrowing and deficit financing
Answer: taxation only
Q4 | Take off stage' in an economy means:
  • steady growthbegins
  • economy is stagnant
  • economy is about to collapse
  • all controls are removed
Answer: steady growthbegins
Q5 | Above 50% of working population of India is engaged in:
  • public sector
  • primary sector
  • secondary sector
  • tertiary sector
Answer: primary sector
Q6 | Economic survey is published by :
  • ministry of finance
  • planningcommission
  • govt. of india
  • indian statistical institute
Answer: ministry of finance
Q7 | India has:
  • socialistic economy
  • gandhian economy
  • mixed economy
  • free economy
Answer: mixed economy
Q8 | The first attempt to initiate economic planning in India was madeby:
  • balwantrai mehta
  • vallabhbhai patel
  • m. visvesvaraya
  • jawaharlal nehru
Answer: m. visvesvaraya
Q9 | The decentralisation system was recommended by:
  • c.rajagopalachari b. j.
  • kripalan
  • balwant rai mehta
  • ashok mehta
Answer: balwant rai mehta
Q10 | Rolling plan was designed for the period:
  • 1978-83
  • 1980-85
  • 1985-90
  • 1974-97
Answer: 1978-83
Q11 | Who wrote the book 'Planned Economy for India'?
  • m. visvesvaraya
  • sardar vallabhbhai patel
  • jawaharlal nehru
  • mahatma gandhi
Answer: m. visvesvaraya
Q12 | 'Globalisation of Indian Economy' means:
  • stepping up external borrowings
  • establishing indian business units abroad
  • having minimum possible restrictions on economic relations with othercountries
  • giving up programmes of import substitution
Answer: having minimum possible restrictions on economic relations with othercountries
Q13 | The contribution of agriculture to India's' economy is:
  • increasing
  • decreasing
  • onstant
  • none of these
Answer: decreasing
Q14 | Dadabhai Naoroji theorised on the drain of wealth from India inhis book:
  • poverty under british rule in india
  • poverty in british rule in india
  • poverty and un-british rule inindia
  • poverty of economic drain in british india
Answer: poverty and un-british rule inindia
Q15 | Which one of the following Five-Year Plans recognised human development as the core of alldevelopmental efforts?
  • the third five-year plan
  • the fifth five-year plan
  • the sixth five-year plan
  • the eighth five-year plan
Answer: the eighth five-year plan
Q16 | In which of the Five YearPlans, preference was given to the weaker sections of the society ?
  • second
  • third
  • fourth
  • fifth
Answer: fifth
Q17 | The Second Five Year Plan laid more stress upon:
  • agriculture
  • industrialisation
  • removing poverty
  • self-reliance
Answer: industrialisation
Q18 | Who among the following was the first Chairman of the PlanningCommission? [CDS 2008]
  • dr. rajendra prasad
  • pt. jawahar lal nehru
  • sardar vallabhbhai patel
  • j.b. kripalani
Answer: pt. jawahar lal nehru
Q19 | Which Committee's recommendations are being followed for estimating Poverty Line in India?
  • dutt committee
  • chelliah committee
  • chakravorty committee
  • lakdawala committee
Answer: lakdawala committee
Q20 | Absolute Povertymeans:
  • poverty in terms of absolute number ofpeople
  • poverty in terms of the basic minimum calorie requirements
  • poverty in terms of the prevailing pricelevel
  • poverty in terms of the absolute level of unemployment
Answer: poverty in terms of the basic minimum calorie requirements
Q21 | Among the following who are eligible to benefit from the "Mahatma Gandhi National RuralEmployment Guarantee Act" ?
  • adult members of only the scheduled caste and scheduled tribe households
  • adult members of below poverty line (bpl) households
  • adult members of households of all backward communities
  • adult members of any household
Answer: adult members of any household
Q22 | The Food For Work programme was renamedas:
  • rural landless employment guarantee programme (rlegp)
  • national rural employment programme (nrep)
  • jawahar rozgar yojana (jry)
  • integrated rural development programme (irdp)
Answer: national rural employment programme (nrep)
Q23 | What is the minimumcalorie intake decided by the Planning Commission for rural and urban areas,respectively ?
  • 2400 and 2100
  • 2100and 2400
  • 2400 and 2200
  • 2100 and 2200
Answer: 2400 and 2100
Q24 | Black money is :
  • counterfeit currency
  • illegally earned money
  • money earned through underhand deals
  • income on which payment of tax is usually evaded
Answer: income on which payment of tax is usually evaded
Q25 | The Issue Department of the RBI maintains a against printing of notes:
  • minimum reserve system
  • proportional reserve system
  • proportional gold reserve system
  • proportional foreign securities reserve system
Answer: minimum reserve system
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