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G.K. on Indian Economy – Series 8

Assam Higher Secondary TET Guide Books. The First Five Year Plan of India observed that economic planning is ‘essentially a way of organizing and utilizing resources to maximum advantage in terms of defined social ends. Thus, broadly speaking, economic planning is an organized and coordinated effort to achieve certain self-defined objectives within a fixed time frame through optimum utilization of the community’s resources so as to promote its general well-being.

Assam Higher Secondary TET Guide Books

Select the correct Answer

1. Import liberalisation for the domestic market as a strategy would tend to

(a) Raise the ratio of imports to GDP in the immediate future

(b)Lower the ratio of imports to GDP in the immediate future

(c)Hamper agricultural growth in the long-run

(d) Depress commodity prices in the immediate future

Ans:(d) Depress commodity prices in the immediate future.  

2. The most important source of energy in India is-

(a) Fire-wood and charcoal

(b) Gas

(c)Petroleum

(d) Electricity

Ans: (a) Fire-wood and charcoal.  

3. Consider the following Statements New Economic Policy has greater relevance to the rural sector in the context of-

I. farm subsidies

II. bio-technological innovations

III. Trade liberalization

IV. Increasing input to agriculture

(a) I and IV are correct

(b)I and l are correct

(c) I, II and II are correct

(d) I, l and IV are correct

Ans: (d) II, III and IV are correct.  

4. Consider the following steps –

I. Fiscal reforms

II. Structural reforms

III. Financial reforms

IV. Population policy The New Economic Policy in India includes

(a) I, II and III

(b) II and III

(c) I and IV

(d)I, II, III and IV

Ans: (a) I, II and III.  

5. Consider the following schemes/programmes

I. EAS

II. TRYSEM

III. JRY

IV. RLEGP

The correct chronological sequence of the launching of these schemes/programme is

(a) II, IV, I, I

(b) IV, II, I, II1

(c)I1, IV, I, I

(d)IV, II, I1,I

Ans:(c) II, IV, II, I.  

6. Which of the following is the main objective of the 8th Five Year Plan?

L Creation of adequate employment to achieve near-full employment level by the turn of the century

আপুনি যদি আমাৰ পেজ পঢ়ি ভাল পাইছে তেন্তে আমাৰ ‘নিউজলেটাৰ চাবস্ক্রাইব’ কৰক। নতুবা আমাৰ ‘ফেচবুক পৃষ্ঠা’ অনুসৰণ কৰক বা আমাৰ “ইউটিউব চেনেল চাবস্ক্রাইব’ কৰক ।

II. Containment of population growth

III. Strengthening the infrastructure in order to support the growth process on a sustainable basis

Select the correct answer using the codes given below:

(a) I, II and I

(b) I and II

(c)I and III

(d) II and III

Ans:(a) I, II and III  

7. As a percentage of GDP, investment during the 8th Plan (1992-97) is targeted to rise to

(a) 23.2%

(b) 24.8%

(c) 25.9%

(d) 26.9%

Ans: (a) 23.2%.  

8. Which of the following would include foreign direct investment in India?

I. Subsidiaries of foreign companies in India

II. Majority of foreign equity holding in Indian companies

III. Companies exclusively financed by foreign companies

IV. Portfolio investment

Select the correct answer using the codes given below:

(a) I, II and III and IV

(b) II and IV

(c)I and II

(d) I, II and III

Ans: (a) I, II, III and IV  

9. Consider the following statements In the context of liberalisation and globalisation-

I. Planning has no role to play

II. Planning has an indicative role

III. Planning has a role to play in providing safety net for the poor

(a) I only is correct

(b) I and II are correct

(c) I and III are correct

(d) II and III are correct  

Ans: (d) I and II are correct  

10.  Consider the following Statement. “The agricultural policy thrust during the 8th Plan envisages”

I. A special emphasis on agricultural development of the Eastern Region.

II. The production of commercial crops.

III. Extension of green revolution from the North and North-Western regions to the rest of the country.

(a) I, and II are correct

(b) I, II and III are correct

(c) II and III are correct

(d) I and III are correct.

Ans: (c) I and II are correct

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