Tag: objectives of economic planning in india

Social Insurance are there to protect individuals from economic risks like unemployment, old age etc. it is done by providing some financial aid by the government. It motivated by the idea of welfare i.e. a betterment of all. 

The planning commission or NITI Aayog is established by the Government of India with the aim to achieve sustainable development goals with cooperative federalism by fostering the involvement of State Governments of India in the economic policy-making process using a bottom-up approach.

Deposit Insurance Corporation is a corporation established by the Government of India on January 1, 1962. It was a consequence of the enactment of the Deposit Insurance Corporation Act in 1961. Moreover, the major objective of the DIC has been to provide necessary protection to depositors by insurance of deposits and also guaranteeing of credit facilities.

Thus, the correct answer is B.

Two budgets were presented in the year 1947. The first budget was presented in the month of March. Jawaharlal Nehru, Rajiv Gandhi and Indira Gandhi were the three Prime-Ministers who have presented budgets.

Thus, the correct answer is A.

The rolling plan refers to the plan where there is no fix time period of the commencement and end of the plan. The rolling plan is resourceful to overcome the rigidity. This can be done by mending the targets. 

In India, the first rolling plan was introduced in 1978-80. The rolling plan emphasised on the annual review of progress in the implementation of plans.

Thus, the correct answer is D.

IFCI is Industrial Finance Corporation of India. It is a Non-banking financial company established in the year 1948. Furthermore, SFC ( State Financial Corporation) was established in the year 1951. Another financial institution, EXIM (Export and Import) Bank of India was established in the year 1982. UTI ( Unit Trust of India) was established in the year 1964.

Thus, the correct answer is A 

Finance Commission: Article-$280$ of the Constitution of India provides for Finance Commission as a quasi-judicial body. It is constituted by the President of India every fifth year or at such earlier time as be considers necessary. The Finance Commission consists of a chairman and four other members to be appointed by the Presidents.
The Finance Commission is required to make recommendations to the President of India on the following matters.
$1$. The distribution of net proceeds of taxes to be shared between the Centre and the States, and the allocation between the States of the respective shares of such proceeds.
$2$. The Principles that should govern the grant in aid to the States by the Centre(i.e., out of the Consolidated Fund of India).
$3$. The measures needed to augment the Consolidated Fund of a state to supplement the resources of the panchayats and the municipalities in the State on the basis of the recommendations made by the state finance commission.
$4$. Any other matter referred to it by the President in the interests of sound finance.

Finance Commission is a commission which defines the terms of eligibility, qualification, disqualification and the powers of the Finance Commission. It was established as per Article 280 of the Constitution. The first Finance Commission was appointed in the year 1951. The President of India appointed the same for the period 1952-1957.

Thus, the correct answer is C.

Finance Commission has been established by the President of India in the year 1951. It was constituted to define the financial relations between the central government and individual state governments of India. Moreover, it was established under Article 280 of the Indian Constitution.

Thus, the correct answer is B.

Finance Commission is a commission that defines the terms of qualification, disqualification, eligibility and the powers of the Finance Commission. The Commission was established in the year 1951. The same was established under Article 280 of the Indian Constitution. It was appointed for the period 1952-1957. It was chaired by KC Neogy.

Thus, the correct answer is D.