Tag: economics of planning

Questions Related to economics of planning

The Railway Budget is generally presented in the Parliament in the month of __________.

economics economics of development and planning economics of planning objectives of economic planning in india major economic problems

  1. February

  2. April

  3. May

  4. December

Show answer
Correct Option: A
Explanation:

Earlier the railway budget was presented in the Parliament before the Union Budget. Since 2016 it was merged with the Union budget and presented along with it on the 1st of February every year. 

Which of the following sets overall targets for various ministries in India?

economics economics of development and planning economics of planning objectives of economic planning in india major economic problems

  1. CAG

  2. Planning Commission

  3. Lok Sabha

  4. Finance Ministry, GOI

Show answer
Correct Option: B
Explanation:

Planning Commission was formed on 15th March 1950. It is an institution in the Government of India which formulated India's five-year plans. It has other important functions. Among other important functions includes its setting of overall targets for various ministries of India.

Thus, the correct answer is B.

As per the reports published by various agencies/organisations, it is estimated that around 3 billion extra people will join our existing population of 6 billion by the year 2050. To provide food for all of them, a second round of which of the following initiatives is required to be started much in advance?

economics economics of development and planning economics of planning objectives of economic planning in india major economic problems

  1. Green Revolution

  2. Planned Urbanisation

  3. Industrialisation

  4. All of these

Show answer
Correct Option: D
Explanation:

According to the reports published by various agencies/ organizations, it is estimated that around 3 billion extra people will join our existing population of 6 billion by the year 2050. To provide food for all of them, the second round of Green Revolution, Planned Urbanisation, Industrialisation initiatives are required to be started in advance.

Thus, the correct answer is D.

A finance bill is __________.

economics economics of development and planning economics of planning objectives of economic planning in india major economic problems

  1. a bill which would authorise expenditure out of the Consolidated Fund of India.

  2. a bill ordinary introduced each year to give effect to financial proposals of the Government of India for the next following financial year.

  3. a bill to authorise expenditure on the Contingency Fund of India

  4. a bill to control the finances of the Union and State Government

Show answer
Correct Option: B
Explanation:

A finance bill is a Money Bill. It is defined in Article 110 of the Constitution. It is passed by the Parliament within a period of 75 days of its introduction. It is a bill introduced each year to give effect to financial proposals of the Government of India for the next following financial year.

Thus, the correct answer is B.

Which of the following is/are true about the Competition Commission of India (CCI)?
(A) CCI is a regulatory body having quasi-judicial structure.
(B) It has been established to replace old Monopolies and Restrictions Trade Practices Act.
(C) Its main objective is to create a healthy environment in corporate world.

economics economics of development and planning economics of planning objectives of economic planning in india major economic problems

  1. Only (A)

  2. Only (B)

  3. Only (C)

  4. All (A), (B) and (C)

Show answer
Correct Option: D
Explanation:

Competition Commission of India is a statutory body of the Government of India responsible for enforcing The Competition Act, 2002 throughout India and to prevent activities that have an appreciable adverse effect on competition in India.
It was established on 14 October 2003.CCI consists of a Chairperson and 6 Members appointed by the Central Government. 

It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India

As per the news published in various newspapers, the government is planning to set up a regulatory body in the educational field, especially for ____________.

economics economics of development and planning economics of planning objectives of economic planning in india major economic problems

  1. Higher Education

  2. Medical Education

  3. Elementary Education

  4. Secondary Education

Show answer
Correct Option: A
Explanation:

Higher education institutions provide higher education. Department of Higher education under the Ministry of Human Resource Development oversees higher education in India. As per the news published in various newspapers, the government is planning to set up a regulatory body in the educational field, especially for higher education.

 Thus, the correct answer is A.

The Planning Commission of India has established a National Fund to improve the distribution of which of the following in the country?

economics economics of development and planning economics of planning objectives of economic planning in india major economic problems

  1. Electricity

  2. Cooking gas

  3. Food grains through public distribution system

  4. Fresh currency notes

Show answer
Correct Option: A
Explanation:

National Planning Commission formulates the National plan which is considered by the National Development Council. It’s most important functions include the formulation of effective plans for distribution of resources of the country. The Planning Commission of India has established a National Fund to improve the distribution of Electricity in the country.

Thus, the correct answer is A.

As we read these days, many world economies are passing through the recession at present. When can an economy be "in a recession"?
A) When a decline occurs in almost all major economic activities.
B) When the inflation reaches a very high rate or becomes double-digit inflation.
C) When big financial scams and Frauds start taking place.

economics economics of development and planning economics of planning objectives of economic planning in india major economic problems

  1. Only A

  2. Only B

  3. Only C

  4. All the three

Show answer
Correct Option: A
Explanation:

As we read these days, many world economies are passing through the recession at present. An economy is said to be in a recession when a decline occurs in almost all major economic activities.  Also, it is generally identified by a fall in GDP in two successive quarters.

Thus, the correct answer is A.

The National Horticulture Mission (NHM) has aimed at doubling the horticultural production. For this, the target year is ________.

economics economics of development and planning economics of planning objectives of economic planning in india major economic problems

  1. $2010$

  2. $2011$

  3. $2012$

  4. $2015$

Show answer
Correct Option: C
Explanation:

It is a national horticulture scheme and it was established and promoted as a part of the 10th five year plan (2002-2007). It plans to achieve its target if doubling horticulture production by 2012.

Which of the following commissions set up by the President of India decides the distribution of tax income between the Central and State Governments?

economics economics of development and planning economics of planning objectives of economic planning in india major economic problems

  1. Central Law Commission

  2. Pay Commission for Govt Employees

  3. Administrative Reforms Commission

  4. Finance Commission

Show answer
Correct Option: D
Explanation:

The Finance Commission of India was established by the President of India in the year 1951. The establishment took place under Article 280 of the country’s Constitution. This flattering commission decides the distribution of tax income between the Central and State Governments. Thus, it defines the financial relations between the Central and individual State Governments.

Thus, the correct answer is D.