Q.1) Answer (a)
Q.2) Answer (c)
Q.3) Answer (b)
Planning Commission is not a constitutional body. There is no Minister of Planning in the Council of Ministers. The draft plan is prepared by Planning Commission.
Q.4) Answer (b)
Q.5) Answer (c)
The co-existence of public sector along with private sector is called mixed economy. Industrial Policy of 1948 advocated for mixed economy in India.
Q.6) Answer (d)
Planned Economy for India by Visvesvaraya published in the year 1934.
Constitution of National Planning Committee -by the Indian National Congress under Jawaharlal Nehru in the year 1938.
Bombay Plan in the year 1944
National Development Council set up in the year 1952.
Q.7) Answer (d)
Q.8) Answer (b)
Q.9) Answer (c)
Refusal of supply of essential equipments and raw materials from the allies during Indo Pak war resulted in twin objectives of “ growth with stability “ and “progressive achievement of self reliance “ for the Fourth Plan.
Q.10) Answer (a)
Q.11) Answer (4)
Q.12) Answer (a)
Sector wise Indian GDP composition in 2017 are as follows : Agriculture (15.4%), Industry (23%) and Services (61.5%).
Q.13) Answer (c)
Q.14) Answer (b)
Q.15) Answer (c)
Q.16) Answer (a)
Economic liberalization in India started with industrial de-licensing.
Q.17) Answer (c)
This all happened from 1975-78 during fifth five year plan the period of which is (1974-78).
Q.18) Answer (a)
India’s Second Five-Year Plan (1956-61) was to set India on the path of industrialisation. P.C. Mahalanobis was the moving spirit behind the second five-year plan. He gave the highest priority to strengthening the industrial base of the economy.
India’s Third Five-Year Plan (1961-66) emphasised on long-term development.
Q.19) Answer (c)
Inclusive growth is ‘broad-based growth’, ‘shared growth’, and ‘pro-poor growth’. It excludes the capital markets which is left to operate by itself in the open market.
Q.20) Answer (c)
It was during eighth plan period (1992-97) that emphasis was put on infrastructure development.