Chapter Wise Indian Economy MCQ’s With Explanation

Today’s Topic: Planning and Development-5

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Thursday- History of India and Indian National Movement

Friday- Economic and Social Development

Saturday-Current Affairs Concepts

Today’s Topic: Planning and Development-5

Q1. Match list-I with List-II correctly and select your answer from the codes given below:

List-I                                        List-II

a) Gandhian Plan                        1.  Ardeshir Dalal

b) People’s plan                          2.  Mannarayana

c) Bombay Plan                          3.  M. N. Roy

d) Sarvodaya Plan                      4. Jay Prakash Narayan

Codes:

A         B          C          D

a) 1       2          3          4

b) 2       3          1          4

c) 2       3          4          1

d) 1       2          4          3

Ans:     B

Explanation:    The correct match is:

Gandhaian Plan           –           Mannarayan

People’s Plan               –           M N Roy

Bombay Plan                –           Ardesir Dalal

Sarvodaya Plan            –           Jay Prakash Narayana

Q2. Consider the following statements:

  1. Planning Commission is the highest body that approves Five Year Plans in India.
  2. In the Tenth Five Year Plan, Economic Development Rate was maximum.
  3. Planning Commission was established on 10th March 1951.

Select the correct statements with the help of codes given below:

a) 1 Only              b) 2 Only              c) 1, 2 and 3                d) None of these.

Ans:     B

Explanation:    In India, Five Year Plans are finally approved by National Development Council, not by planning Commission so statement 1 is not correct. The Economic Development Rate was maximum in 10th FYP. Statement (3) is incorrect because Planning Commission was established on 15 march, 1950, not on 10 March 1951

Q3. What is the objective of the Public Distribution System:

a) It Provides food security to the poor.              b) To stop Hoarding and Black marketing.

c) It prevents traders to take excess price          d) All of the above.

Ans:     A

Explanation:    Public Distribution system (PDS) is an Indian food security, established by Govt. of India under Ministry of Consumer Affairs, food and public distribution and managed jointly with the state government of India. It distributes subsidizes food and nonfood items to items to India’s poor. Major commodities distribute include staple food grains such as wheat, rice, sugar, and Kerosene through PDS shops.

Q4. Consider the following statements:

  1. Cottage industry units employ wage-earning labor and production is done by use of the modern technique.
  2. Suresh Tendulkar Committee was appointed for determination of Below Poverty Line (BPL).
  3. Small Industrial units are run by family members on full or part-time basis.

Select the correct statements with the help of codes given below:

a) Only 2              b) All of these              c) 1 and 2        d) None of these.

Ans:     A

Explanation:    In the broad view, cottage, small and village industries are treated similar but they fundamentally differ from each other. Cottage industry is run by famous members on full or part-time basis.Suresh Tendulkar was set up for determination of Poverty standards.

Q5. What are the features of agriculture produce market committee?

1)It ensures complete transparency in pricing system in the market area.

2) It Provides market led extension facilities to farmers.

3) It promotes public-private partners in the management of agricultural markets.

Select the correct statements with the help of codes given below:

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

Ans:     D

Explanation:    According to the guidelines of the AMPC acct, it provides for the development of the efficient market system. Promotion of Agri processing and Agri exports and to lay down procedures and method for putting in place an effective infrastructure for the marketing of agriculture products.

Q6. Consider the following statements in the context of the Indian Economy.

  1. The Gross Domestic Product (GDP) in India expanded 5.50 percent in the second quarter of 2012 over the same quarter of the previous year.
  2. India GDP per capita PPP was recorded as 3649.53 in December of 2011.

Select the correct statements with the help of codes given below:

a) 1 Only              b) 2 Only              c) 1 and 2                    d) Neither 1 nor 2.

Ans:     C

Explanation:    India GDP per capita PPP averaged 1446.39 USD reaching an all-time high of 3649.53 USD in December of 2011 and a record low of 419.87 USD in December of 1980.The annual growth rate in GDP product measures the increase in the value of the goods and services produced by an economy over the period year.

Q7. Swarna Jayanti Shahari Razgar Yojana which came into being on 1-12-97 aims to provides gainful employment to urban unemployed poor but does not include:

a) prime minister’s Rozgar Yojana.              b) Nehru Rozgar Yojana.

c) Urban Basic services programme           d) None of these.

Ans:     A

Explanation:    The Swarna Jayanthi Shahari Razgar Yojana came into being on 1-12-1997. The objective of which is to provide gainful employment to the urban employed or underemployed poor. In the given option except (a) all are included in this.

Q8. Which of the following are the objectives of the commission for agriculture costs and prices (CACP)?

1) To ensures maximum price for a farmer.       2) To stabilize agricultural prices.

3) To ensures meaningful real income levels to the farmer

a) Only 3 and 2 is correct.              b) Only 1 and 3 are correct.

c) 1, 2, 3 are correct.                     d) 1 and 2 are correct.

Ans:     D

Explanation:    Commission for agricultural costs and prices formerly known as Agricultural prices Commission analyses the input costs and recommends the minimum support price, thereby ensuring of meaning real income level to the farmer.

Q9. Consider the following statement regarding Twelfth five-year plan:

  1. The Government intends to reduce poverty by 10 percent during the 12th Five Year Plan.
  2. The 12th Five Year Plan of the duration 2012-17

Select the correct statements with the help of codes given below:

a) 1 Only              b) 1 and 2              c) Only 2                     d) None of these.

Ans:     B

Explanation:    12th Five-year plan of Government of India (2012-17) had decided for the growth rate at 8.29% but National Development Council (NDC) on 27th Dec 2012 approved 8% growth rate for 12th Five Year Plan.

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