Tag: economics of planning

Questions Related to economics of planning

State whether the following statements are True or False.
President is the ex-officio chairman of the Planning Commission.

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

  1. True

  2. False

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Correct Option: B
Explanation:

Prime minister of India is the Ex-officio chairman of the planning commission. It was established on 15 March, 1950 in accordance with article 39 of the constitution which is a part of directive principles of state policy. The Planning Commission of India is a non-constitutional and non-statutory body, which was responsible to formulate India’s five years plans for social and economic development in India. 

State whether the following statements are True or False.
There is no need of economic planning in India.

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

  1. True

  2. False

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Correct Option: B

The term budget is derived from the ________ word Bougette.

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

  1. Latin

  2. French

  3. German

  4. Greek

Show answer
Correct Option: B
Explanation:

The word budget has been derived from a French word Bougette. This word Bougette means 'little bag.' Furthermore, this word turned up in English in the fifteenth century, after having travelled through the French Bougette. Furthermore, after years of development, the budget was started getting prepared for every single country.

Thus, the correct answer is B.

The budget is presented by the _______ before the parliament. 

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

  1. Prime minister

  2. Home minister

  3. Chief minister

  4. Finance minister

Show answer
Correct Option: D
Explanation:

The Union Budget of India is known as the annual budget of the Republic of India. The Finance Minister of India presents this budget before the Parliament before the commencement of new financial year. This is done so it can be discussed and passed by the respective Houses of the Parliament.

Thus, the correct answer is D.

The Chairman of Planning Commission in India is generally the _____ of India.

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

  1. Prime Minister

  2. Governor of RBI

  3. Finance Minister

  4. Speaker of Lok Sabha

Show answer
Correct Option: A
Explanation:

The Chairman of Planning Commission in India is generally the Prime Minister of India. The Planning Commission helped to formulate the five-year plan. This institution of Government is established in the year of 1950.

Which of the following is/ are main objective of planning in India?

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

  1. Increase in national income.

  2. Achieving full employment.

  3. Reduction in inequalities of income and wealth.

  4. All of above.

Show answer
Correct Option: D
Explanation:
Main objectives of planning in India are:
a) Increase in national income b) Achieving full employment.
c) Reduction in inequalities of income and wealth.
Planning Commission was set up by the Central Government of India. It is formed in the yearr of 1950. It helped to establish five year plans. Planning helps to ensure economic growth and development.

Which of the following is/ are main objective of planning in India?

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

  1. Removal of bottlenecks in the way of economic growth.

  2. Rural development.

  3. To boost up industrialization.

  4. All of above.

Show answer
Correct Option: D
Explanation:

Main objectives of planning in India are:
a) Removal of bottlenecks in the way of economic growth.
b) Rural development.
c) To boost up industrialization.
Planning Commission was set up by the Central Government of India. It is formed in the year of 1950. It helped to establish five year plans. Planning helps to ensure economic growth and development.

Which of the following is true about government services?

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

  1. They increase satisfaction

  2. They are essential for economic activity

  3. Both A and B are true

  4. None is true

Show answer
Correct Option: C
Explanation:
Following statements are true about government services:
a) They increase satisfaction
b) They are essential for economic activity.
Government employees rendering services also get pensions after retirement. Government services, moreover, is essential for the economic growth and development.

The objective of ASPIRE Scheme ______________________.

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

  1. is to set up a network of technology and incubation centres to accelerate entrepreneurship and also promote start ups for innovations and entrepreneurship in agro-industry.

  2. is to setup a network of internet to accelerate entrepreneurship and also promote start-ups for innovations and entrepreneurship in handloom industry.

  3. is to setup a network of technology giving exemption in GST to small entrepreneurs and also promote start ups for innovations and entrepreneurship in agro-industry.

  4. none of the above

Show answer
Correct Option: A
Explanation:

The objective of ASPIRE Scheme is to set up a network of technology and incubation centres to accelerate entrepreneurship and also promote start ups for innovations and entrepreneurship in agro-industry. ASPIRE was introduced in March 2015 by the MSME Ministry to give boost to Make in India Programme.

Under the Apprentice Protsahan Yojana, _______ of the stipend payable to the apprentice would be reimbursed by the Government for the first ______ which is an incentive for the MSME Units to take in more apprentices. 

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

  1. 50%; 3 years

  2. 75%; 2 years

  3. 75%; 3 years

  4. 50%; 2 years

Show answer
Correct Option: D
Explanation:

Under the Apprentice Protsahan Yojana, 50% of the stipend payable to the apprentice would be reimbursed by the Government for the first 2 years which is an incentive for the MSME Units to take in more apprentices. Apprentice Protsahan Yojana was introduced for apprentice.