Chapter Wise Indian Economy MCQ’s With Explanation

Today’s Topic: Planning and Development

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Today’s Topic: Planning and Development

Q1. Consider the following statement :

  1. Central Statistical Organization (CSO) was established on May 2, 1954.
  2. Head office of CSO is located in Mumbai.
  3. National income in India is estimated by CSO.
  4. The industrial statistics wing of CSO is located in Kolkata.

Select the correct statement from the given codes below

a) 1 & 2 only               b)2 & 3 only               c)3 and 4                  d)1 and 4

Ans:     C

Explanation:    CSO was established on May 2, 1951, so statement (1) is incorrect its head office is located in Delhi, not in Kolkata. National income in India is estimated by CSO. And industrial statistics wing of CSO is located in Kolkata. So statement 3 and 4 are correct.

Q2. National development council includes:

1. Chief Ministers of all states.

2. Prime Minister of India.

3. Administrators of Union Territories.

4. Vice president of India.

a) 1 and 2               b) 2 and 3               c) 1, 2 and 3                d) 1, 2, 3 and 4

Ans:     C

Explanation:    National development council (NDC) is a non-constitutional body which was constituted in 1952. It is the apex body which finally approves the draft paper of Five-year plans. Chief Ministers of all states, prime minister of India and Administrator of Union Territories are the member of it. Prime minister is ex-officio chairman of NDC. Vice president not a member of NDC.

Q3. Planning was considered a prerequisite.

  1. For balanced socio-economic development.
  2. For extending the benefit of development in an even manner.
  3. For focusing on removal of regional disparity.
  4. For maximizing the utilization of available resources.

a) 1 and 2               b) 1, 2 and 3               c) 2, 3 and 4                d) All of these

Ans:     D

Explanation:    Planning was considered a prerequisite for balanced socio-economic development, for extending the benefits of development in an even manner, for focusing on removal of regional disparity and for maximizing the utilization of available resources. So all statements are correct.

Q4. Consider the following statements with regard to ‘National Integration Council’:

  1. It was set up in 1980.
  2. It deals with welfare measure for the minorities of India.
  3. It is a constitutional body.

Select the correct statement from the codes given below.

a) 1 only               b) 2 only               c) 1and 2                     d) 1,2 and 3 on

Ans:     B

Explanation:    National Integration Council was set up in 1980. It deals with welfare measure for the minorities on an All-India basis. So statements 2 are correct. There is no provision of the National Integration Council in our constitution. It is a non-constitutional body.

Q5. Consider the following statements regarding finance commission:

Article 280 of the Indian constitution provides for the established of a finance committee.

1.13th finance commission has been constituted under the chairmanship of Montek Singh

Ahluwalia.

2. The finance Commission consists of a chairman and four other members.

Select the correct statements from the codes given below.

a) 1 only               b) 2 only                      c) 1 and 3                    d) 1,2 and 3

Ans:     C

Explanation:    Finance commission in India is constituted after every five years according to the provision of Article 280 of Indian Constitution. It consists of a chairman and four other members. Dr Vijay Kelkar is the chairman of the 13th finance Commission.

Q6. Consider the following statements:

  1. ‘Golden Hand Scheme’ in India is related to foreign gold dealers in India.
  2. The view that ‘planning in India should, in future, pay more attention to the people than to commodities’ was given by Man Mohan Singh.

Select your answer from the codes given below.

a) 1 only                  b) 2 only                      c) 1 and 2                    d) Neither 1nor2

Ans:     D

Explanation:    Golden Hand Shake Scheme in India Is related to voluntary retirement. So statement 1 is incorrect. Statement 2 is also incorrect because the view that Planning in India should in future, pay more attention to the people than to commodities was given by the Amartya Sen.

Q7. Consider the following statement:

  1. Under Gadgil – Mukherjee formula the higher weight is given Per Capita income.
  2. The author of the book ‘India’s Economic Policy: The Gandhian Blue Print’ is Jay Prakash Narayan.

Select the correct statements from the codes below.

a) 1 only               b) 2 only               c) 1 and 2                    d) Neither 1 nor 2

Ans:     D

Explanation:    Under Gadgil Mukherjee formula the higher weight is given to population, not to per capita income. The author of the book ‘India’s Economic policy: The Gandhian Blue Print is Chaudhary Charan Sing. So neither statement (1) nor (2) is correct.

Q8. Match List-I with List-II correctly and select

Your answer using the codes given below.

List-I                                        List-II

(Abbreviation)                         (Areas)

a) SLR, CRR                        1) Index numbers

b) WPI, CPI                          2) Banking

c) OGL, FOB                        3) External Trade

d) TRYSEM, SJRY               4) Employment

Codes:

A         B          C          D

a) 2          1          3          4

b) 2          1          4          3

c) 1          2          3          4

d) 1          2          4          3

Ans:     A

Explanation:    The correct match is:

1) Index numbers   – WPI, CPI

2) Banking                – SLR, CRR

3) External Trade    -OGL, FOB

4) Employment       -TRYSEM, SJRY

Q9.  Consider the following statements with regard to Multidimensional Poverty Index (MPI):

  1. It has been in use in place of HDI since 2010.
  2. It has three dimensions.
  3. It is based on four indicators.

Select your correct answer from the codes given below.

a) 1 and 2               b) 2 and 3             c) 1, 2 and 3                d) None of the above.

Ans:     B

Explanation:    United Nations Development Programme has been using MPI (Multidimensional Poverty Index) in place of HPI (Human Poverty Index) since 2010. Its three dimension are-Life expectancy at the time of birth, mean years of schooling, Expected years of schooling and per capita income.

Q10. Consider the following statements about the indicators of MPI (Multidimensional Poverty Index):

  1. Per capita income.                 2. Life expectancy at the time of birth.

3. Expected years of schooling. 4. A rate of unemployment.

Which of the above is included in MPI?

a) 1 and2               b) 2 and 3                    c) 1, 2 and 3                d) 1, 2, 3 and 4

Ans:     C

Explanation:    Rate of unemployment is not included in MPI (Multidimensional Poverty Index). So statement (4) is not correct. UNDP uses MPI for preparing Human Development Index since 2010. MPI (Multidimensional Poverty Index) includes 4 indicators-

  1. Life expectancy at the time of birth. 2. Per Capita income.
  2. Expected years of schooling. 4. Mea years of schooling.

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