mains-paper-v-indian-economy-fyp-and-niti-ayog-question-india

WBCS MAIN PAPER V : INDIAN ECONOMY - FIVE YEAR PLAN & NITI AYOG

1. The Rupee was made convertible on the current account of the balance of payments in

(A) August, 1994

(B) April, 1995

(D) April, 1992

2. In the past, Planners announced the Plan Holiday for three years. They were as follows:

(A) 1961-62, 1962-63, 1963-64

(B) 1971-72, 1972-73. 1973-74

(D) 1966-67, 1967-68, 1968-69

3. The First Five Year plan was based on

(A) Solow model

(B) Leontief model.

(C) a simple variant of Harrod-Domar model

(D) simple Harrod-Domar model.

4.Which of the following Five Year Plan has laid emphasis on 'faster. sustainable and inclusive growth'?

(A) Tenth Five Year Plan

(B) Eleventh Five Year Plan

(C) Twelfth Five Year Plan

(D) Ninth Five Year Plan

5. India faced a serious balance of payments problem in

6. Which Industrial Policy is known as the 'Economic Constitution of India?

(A) 1991

(B) 1948

(D) 1977

7. India's Fourth Plan could not be launched on time due to

(A) Chinese aggression.

(C) Both Chinese aggression in 1962 and conflict with Pakistan in 1965

(D) None of the above

8. Independent India's serious efforts to alleviate poverty began with the famous slogan

(A) 'Garibi Hatao' of the 1970s

(B) Workers of the World Unite

(D) None of the above

9. The main foundation of the Fifth Five Year Plan was

(A) Investment Model.

(B) Harrod-Domar model.

(C) Harrod-Domar one sector model, Leontief Input-Output Model and a Consumption sub-model.

(D) None of the above

10. To achieve a high rate of growth of capital formation, P.C. Mahalanobis suggested that allocation of investment to capital goods sector should be

(A) 33.3% (B) 66.6% (C) 50% (D) 40%

11. Indicate the correct statement Early phases of Indian development planning experienced

(A) Impon substitution

(B) Managed float exchange rate

(D) Hefty amount of foreign exchange reserves

12. In the Indian context, which one of the following pairs is NOT correctly matched?

(A) Liberalization : 1991 Economic Policy

(B) Tax Evasion : Parallel economy

(C) Female work participation rate : Disinvestment

(D) High-Powered Money : RBI

13. NITI Aayog came into operation on

(A) 1st January 2015

(B) 1st April 2014

(D) 1st January 2016

14. First three decades of development planning observed

(A) Very high agricultural growth rate

(B) High growth rate of GDP

(C) Hindu growth rate of GDP

(D) All of the above

15. India's Second Five Year plan was based on

(A) Harrod-Domar Model

(B) Leontief input-Output Model

(C) Nehruvian-FeldmanMahalanobis Model

(D) Romer Growth Model

16. NITI Aayog was set up by

(A) amending the Constitution of India

(B) resolution by Union Cabinet

(D) Neither (A) and (B)

17. When power is taken away from state governments and is given to local government, it is called

(A) Centralization

(B) Panchayat Samiti

(C) Decentralization

(D) Federalism

18. Which of the following pairs is NOT correctly matched?

(A) Rangarajan Committee : Balance of Payments

(B) Tarapore Committee Capital Account Convertibility

(C) Chakravarty Committee : Power Sector Reforms

(D) Kelkar Committee : Tax Reforms

19. India witnessed first a positive trade balance in the

(A) 1970s

(B) 1980s

(D) None of the above

20. India's first effort to eradicate poverty was started from

(A) Fifth Five Year Plan

(B) Second Five Year Plan

(D) Sixth Five Year Plan

21. Which Plan in India is called a plan for managing the transition from a centrally planned economy to a marketed economy?

(A) Second Plan (B) Eight Plan (C) Fifth Plan (D) Sixth Plan

22. Arrange the following in the chronological order:

(a) Mahalanobis model

(A) Inclusive growth strategy

Select the answer from the code below:

(A) (c), (a), (b), (d)

(B) (a), (c), (b),(d)

(D) (b), (a), (c), (d)

1.Which Five-year plan stated the objective of stabilizing the population growth to the central feature of planning?

(A) First Five-year plan (B) Second Five-year plan (C) Third Five-year plan (D) Fourth Five-year plan

2.Who is the Chairperson of NITI Aayog?

(A) Home Minister (B) Speaker (C) President (D) Prime Minister

3.In India the term Black Revolution is associated with

(A) self-dependence in the production of coal

(B) nurturing the black soil.

(C) self-dependence in the production of petroleum crude oil.

(D) self-dependence in the production of black crop.

4.The basic feature of the Rolling Plans was that

(A) Revision of the achievements of previous year.

(B) No physical targets were visualised

(D) Annual fluctuations in prices and major economic developments could be considered while fixing targets.

5. Which Five-year plan focussed on 'Growth with Social Justice and Equality'?

(A) Sixth Five-year plan (B) Seventh Five-year plan (C) Eighth Five-year plan (D) Ninth Five-year plan

6.Which of the following periods is known as 'Plan holiday' in India?

7.When was the NITI Aayog formed?

(A) 1 January, 2015 (B) 1 January, 2016 (C) 1 January, 2017 (D) 1 January, 2014

8.The basic objectives of Indian planning are

(i) economic growth

(ii) self-reliance

(iii) employment generation

(iv) population growth

(A) (ii) and (iv)

(B) (i), (ii) and (iii)

(D) (Ii), (iii) and (iv)

1.During first two decades of planning foreign exchange position was

(A) very satisfactory (B) unsatisfactory (C) moderate (D) uncertain to state

2.First five decades of planning observed,

(A) Hindu rate of growth of GDP

(B) High growth of per capita income

(D) High growth of GDP

3.The second five year plan gave utmost emphasis on the growth of the following industry :

(A) Consumer goods

(B) Capital goods

(D) Electronic goods industry

4.Green revolution and new agricultural strategy first appear in the production of

(A) paddy. (B) oil seed. (C) wheat. (D) pulses.

5.Which one of the following statements is not true ?

Mahalanobis strategy of planning implied :

(A) Import substitution

(B) Building of infrastructure and heavy industries

(D) Globalisation of the economy

6.The increase in oil seeds production was due to

(A) White revolution (B) Yellow revolution (C) Green revolution (D) Brown revolution

7.Black Revolution is related to

(A) Fish production (B) Coal production (C) Crude oil production (D) Mustard production

8.Who is the originator of Green Revolution in India ?

(A) Normal E. Borlaug (B) M S Swaminathan (C) Garry Backer (D) None of the above

1.Which of the following is one of the states which has topped NITI Aayog's Index of Indian States performance on various UN Sustainable Development Goals (SDGs) ?

(A) Karnataka (B) Gujarat (C) Maharashtra (D) Kerala

2.The Green Revolution in agriculture has made the Indian farmers dependent on

(A) Machines (B) Fertilizers and Pesticides (C) Indigenous (D) Availability of Micro-nutrients

3.Which authority is entrusted with the task of overseeing implementation of Sustainable Development Goals in India ?

(A) NITI Aayog (B) PMO (C) Cabinet (D) None of the above

4.'Planned Economy for India" — The book was written by

(A) Sir M. Visvesvarayya (B) J. L. Nehru (C) S. N. Agarwal (D) M. N. Roy

5.Planning Commission has been scrapped on

(A) January 1, 2015 (B) August 13, 2014 (C) January 22, 2015

(D) July 2, 2015

6.The new defunct Planning Commission was set up on

(A) March 15, 1950 (B) August 6, 1952 (C) September 1, 1951 (D) None of the above

7.The aim of the Third Five Year Plan (1961-66) was

(A) rapid industrialisation.

(B) growth with stability and progress towards self-reliance.

(C) self-reliant and self-generating economy.

(D) removal of poverty and attainment of self-reliance.

8.At the NITI Aayog meeting of CMs on 15th June 2019 the P.M. said that the goal of making India a —— economy by 2024 was challenging but achievable.

(A) 3 trillion(B) 4 trillion (C) 5 trillion (D) $ 6 trillion

1.The Government of India has established NITI Ayog to replace the

(A) Human Rights Commission

(B) Finance Commission

(D) Planning Commission

2.In context of India's five year plans, a shift in pattern of industrialization with lower emphasis on heavy industries and more on infrastructure begins in

(A) Fourth Plan (B) Fifth Plan (C) Eighth Plan (D) Ninth Plan

3.Which one of the following is NOT correct ?

(A) First Five Year Plan : 1951-1956

(B) Second Five Year Plan : 1956-1961

(D) Fourth Five Year Plan : 1966-1971

4.Which among the following Industrial Policy Resolution/Statement was based upon the Mahalanobis Model of growth ?

(A) Industrial Policy Resolution-1956

(B) Industry Policy Statement-1973

(D) None of the above

5.In context of India's five year plans, in which plan was the growth rate target exceeded ?

(A) First plan (B) Fifth plan (C) Sixth plan (D) None of the above

1.In which of the Five Year Plan, the weaker sections of the society got priority ?

(A) 5th (B) 4th (C) 3rd (D) None of the above

2.During which Five Year Plan was the total expenditure on agriculture the highest ?

(A) 1st (B) 2nd (C) 3rd (D) 4th

3.What is the duration of the revised 6th National Development Plan ?

4.Success of 4th plan was obstructed by

(A) problem of Bengal refugees (B) war with Pakistan (C) poor monsoon (D) All of the above

5.During which Five year plan did prices show a decline ?

(A) 1st (B) 3rd (C) 5th (D) 6th

6.India opted for 'mixed economy' in

(A) framing of the constitution

(B) Industrial Policy of 1948

(D) None of the above

7.A rolling plan is a plan for

(A) one year (B) two years (C) three years (D) five years

8.Which five year plan focused on 'growth with social justice and equity' ?

(A) Ninth Five Year Plan (B) Eighth Five Year Plan (C) Seventh Five Year Plan (D) Sixth Five Year Plan

9.First five year plan was based on

(A) Harrod - Domar model (B) P. C. Mahalanobis model (C) Both of the above (D) None of the above

10.The New Industrial Policy in India was announced in 2 phases

(A) 24 July, 1992; 6 August 1992

(B) 6 July, 1991; 24 August 1991

(C) 24 July, 1991; 6 August 1991

(D) 6 July, 1992; 24 August 1991

11.What was the main objective of Green Revolution in India ?

(A) To increase the extent of cash crop cultivation

(B) To increase the area of Green forest under social forestry scheme

(C) Modernisation of agriculture through science and technology

(D) To introduce the Japanese method of paddy cultivation

12.From which country India adopted the Five Year Plans ?

(A) USSR (B) USA (C) Australia (D) Germany

13.Which Five-Year-Plan was terminated before the completion of its period ?

(A) Fifth (B) Sixth (C) Seventh (D) Eighth

14.In India, the concepts of 'minimum needs' and 'anti-poverty programmes' were the innovations of

(A) Fourth Five Year Plan (B) Fifth Five Year Plan (C) Sixth Five Year Plan (D) Eighth Five Year Plan

15.For internal financing of Five Year Plans, the government depends on

(A) taxation only

(B) public borrowing and deficit financing

(D) taxation, public borrowing and deficit financing

16.In the context of India's Five Year Plans, a shift in the pattern of industrialisation, with lower emphasis on heavy industries and more on infrastructure begins in

(A) Tenth Plan (B) Eighth Plan (C) Sixth Plan (D) Fourth Plan

17.Which of the following indicate economic growth through Five Year Plans ?

(A) Rise in national income and per capita income

(B) Development of railways and roadways

(D) Development of industrial towns and industrial estates

18.The basic feature of the Rolling Plans was that

(A) revision of the achievement of previous year

(B) no physical target were visualised

(C) no financial target except in the term of annual plans was envisaged

(D) annual fluctuations in prices and major economic developments could be considered while fixing target

19.In which one of the following Five Year Plans the actual growth performance in India in respect of GDP (at factor cost) was less than the target set ?

(A) Sixth Five Year Plan (B) Seventh Five Year Plan (C) Eighth Five Year Plan (D) Ninth Five Year Plan

20.India's economic planning cannot be said to be

(A) Indicative (B) imperative (C) limited (D) democratic

1.What is the main objective of the 12th Five year Plan ?

(A) Faster and inclusive growth

(B) Faster and sustainable growth

(D) Faster, sustainable and more inclusive growth

2.What is the estimated rate of growth in the second year of the 12th Five Year Plan of India ?

(A) 4.7 per cent (B) 4.9 per cent (C) 4.5 per tent (D) 4.3 per cent

3.Which of the following was not an objective of the 1956 industrial policy ?

(A) Development of co-operative sector

(B) Expansion of public sector

(D) None of the above

4.The Second Five Year Plan of India gave special emphasis on-

(A) Labour intensive industries

(B) Heavy and capital goods industries

(D) Small scale and cottage industries

5.The ceiling on foreign investment was revised in the Industrial Policy 1991 from 40 per cent to-

(A) 49 per cent (B) 50 per cent (C) 51 per cent (D) 52 per cent

6.When was the Infrastructure Development Finance Company constituted ?

(A) During the Eighth Five Year Plan

(B) During the Ninth Five Year Plan

(D) During the Seventh Five Year Plan

7.What has been the average rate of increase in agricultural production in the Eleventh Five Year Plan ?

(A) 3% (B) 4% (C) 4.1% (D) 3.1%

8.Foreign Direct Investment ceilings in the telecom sector have been raised from 74% to -

(A) 80% (B) 83% (C) 90% (D) 100%

9.In which among the following years a new 'Liberalized Industrial Policy' in India was announced for the first time ?

T10.he Industrial Policy of India was first announced in-

11."Twenty point programme" was launched in the year

12.Rapid industrialisation is the basic objective of -

(A) Second Five Year Plan (B) Third Five Year Plan

13.India's economic crisis in 1991 was mainly the outcome of the following -

(A) Acute Fiscal deficit crisis

(B) Balance of Payments crisis

(D) All of the above

14.In India the concept of 'minimum needs' and 'directed antipoverty programmes' were innovation of-

(A) Fourth Five Year Plan (B) Fifth Five Year Plan

15.Which of the following planning is executed at the grass root level ?

(A) Centralised planning (B) Decentralised planning (C) Fixed planning (D) Imperative planning

16.In the First Five Year Plan of India, priority was given to -

(A) Food and agricultural

(B) Industrial production

(D) None of the above

17.National Food Security Mission was introduced in the -

(A) Tenth Five Year Plan

(B) Eleventh Five Year Plan

(C) Twelfth Five Year Plan

(D) Ninth Five Year Plan

1.Integrated Rural Development Programme (IRDP) came during

(A) Fourth plan (B) Fifth plan (C) Sixth plan (D) Eighth plan

2.The strategy of direct attack on poverty was taken in this plan

(A) Plan four (B) Plan five (C) Plan eight (D) Plan nine

3.Consider the following statement

Niti Aayog is a policy think tank
It aims at greater participation in the economic policy by the State Governments
First meeting of the Aayog was held on 18th February, 2015

(A) 1 & 2 are true (B) 1, 2 & 3 are true (C) 2 & 3 are true (D) 1 is true

4.Consider the following statement

The Ninth Plan was launched in the fiftieth year of India's independence
It lay emphasis on five basic minimum needs
It achieved a growth rate of 5.5 per cent per annum in GDP

(A) 1 & 3 are true (B) 1 & 2 are true (C) 2 & 3 are true (D) All of the above are true

5.The Eighth Plan could not take off in 1990 due to

(A) Extreme financial crisis (B) Fast changing political situation

6.The second meeting of the Governing Council of NITI Aayog emphasized on :

(A) Eradication of poverty (B) State units should be the focus of all development efforts

7.The basic thrust of two Annual Plans, 1990-91 and 1991-92 are

(A) Maximisation of employment (B) Ensuring social transformations

Consider the following statements :
The tenth Five Year Plan (2002-07) was approved by NDC in December, 2002
The plan aimed at creating 50 million job opportunities
It recognizes that Governance is one of the most important factors for realizing the objectives of the plan

(A) 1 & 2 are true (B) 2 & 3 are true (C) 1 & 3 are false (D) All are true

8.Development of basic capital goods industries took place during -

(A) First plan (B) Second plan (C) Sixth plan (D) Eighth plan

9.First two decades of planning witnessed foreign exchange position to be

(A) Very satisfactory (B) Unsatisfactory (C) Moderate (D) None applies

10.Code the incorrect statement. Green revolution make possible

(A) Multiple cropping (B) Use of High yielding variety (HYV) seeds

(C) Very low use of chemical fertilizer (D) Increasing use of agro machinery

11.National Development Council was set up in

1.The first Five Year Plan in India was launched in the year :

2.The Planning Commission was set up :

(A) Under the Government of India Act, 1935

(B) as per the provisions of the Constitution of India

(C) by a Cabinet resolution

(D) as per the recommendations of the National Development Council

3.The time period for the 7th Five Year Plan was -

4.NABARD was established in-

(A) 4th Five Year Plan period (FYP) (B) 5th FYP (C) 6th FYP (D) 8th FYP

5.The outline of second Five Year Plan was made by -

(A) B.N.Gadgil (B) V.K.R. V. Rao (C) P. C. Mahalanabish

(D) C. K. Vakil

6.Growth with Equity and Distributive Justice was the main objective in

(A) 7th Five Year plan (B) 8th Five Year plan (C) 9th Five Year plan (D) 11th Five Year plan