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G.K. on Indian Economy – Series 7

Higher Secondary TET 2020 Guide Book. The modern age is the age of fast development. Fast development is feasible with economic Planning. Though planning is over 2400 years previous having its initial reference and formulation by Plato in his ‘Republic’ a similar idea earned a scientific form and support once the top of World War-II for the rehabilitation and reconstruction of war divested economies similarly as for the fast economic development of the underdeveloped economies. Therefore Planning is taken into account because of the remedy for the event of developing countries like India.

Higher Secondary TET 2020 Guide Book

Select the Correct Answer

1. Plan-holiday started in India-

(a) After the liberation of Bangladesh in 1971

(b) After the drought of 1966

(c) After the China-Indian War of 1962

(d) During the Janata rule in 1977

Ans: (b)after the drought of 1966  

2. People’s plan was drafted in 1944 by-

(a) Jawaharlal Nehru

(b) Mahatma Gandhi

(c) C. Rajagopalachari

(d) MN, Roy

Ans:(d) MN. Roy  

3. The pioneering book on planning in India entitled Planned Economy for India wax authored by

(a) P.S. Lokanathan

(b)M Visveswaraya

(c) VKR.V. Rao

(d)C.N. Vakil

Ans: (b) M Visveswaraya  

4. The Monopolies and Restrictive Trade Practices (MRTP) Act applies to Small Scale enterprises

(a) The public sector enterprises

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

(c) Large private sector enterprises

(d) Key sector enterprises

Ans:(c) Large private sector enterprise  

5. The basic plan frame of the First-Five Year Plan of India was formulated primarily on the

(a) Mahalanobis model

(b) Sandee’s model

(c) Harrod-Domar model

(d) Manne model

Ans:(c) Harrod-Domar model.  

6. What percentage of the public sector outlay during Seventh Plan has been allocated to agriculture and rural development:

(a) 12.7%

(b) 26.7%

(c) 19.7%

(d) 33.7%

Ans: (a) 12.7%

7. The Second Five Year Plan of India was based on Mahalanobis Model. It considered a

(a) One sector economy

(b) Two sector economy

(C) Four sector economy

(d) Multi sector economy

Ans: (c) Four sector economy

8. Which one of the following makes up during successive Five Year Plans for India?

(a) Securing Rapid economic growth

(b) Expansion of employment

(c)Reduction of disparities in income and wealth

(d) Prevention of concentration of economic power

Ans: (a) Securing Rapid economic growth  

9. During the Seventh Five Year Plan of India, total expenditure by the Centre, States and Union Territories as the highest on

(a) Energy

(b) Irrigation and flood control

(c) Communications

(d)Industry and minerals

Ans: (a) Energy  

10. In July 1991, India devalued the rupee by about

(a) 10%

(b) 15%

(c) 23%

(d) 30%

Ans:(b) 15%

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