Tag: economics

Questions Related to economics

The planning process in the industrial sector in India has assumed a relatively less important position in the nineties as compares to that in the earlier period. Which one of the following is not true in this regard ?

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

  1. With the advent of liberalisation, industrial investments/ development have largely been placed within the domain of private and multinational sectors.

  2. With markets assuming a central place, the role of central planning in many sectors has been rendered redundant.

  3. The focus of planning has shifted to sectors like human resource development infrastructure, population control and welfare.

  4. The nation's priorities have shifted away from industrial development to rural development.

Show answer
Correct Option: C
Explanation:

This has been the basic change in the process of planning during the reform era. Planning has not lost its relevance but it has gone for its definition as such.

The basic difference between imperative and indicative planning is that __________________.

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

  1. in the case of imperative planning market mechanism is entirely replaced by a command hierarchy, while in case of indicative planning . it is looked upon as a way to improve the functioning of market system.

  2. in the case of indicative planing there is no need to nationalise any industry.

  3. in the case of imperative planning all economic activities belong to public sector, while in the other type they belong to the private sector.

  4. it is easier to achieve targets in imperative type of planning.

Show answer
Correct Option: A
Explanation:

Planning processes of all the non-state Economies (i.e., either Communist or the Socialist economies ) did belong to the 'imperative' (or target) planning. Planning by the Mixed Economies are of 'indicative' type.

Inclination of the GoI towards 'indicative planning' means 
1. Lesser economic role for itself and broader economic space for the domestic and foreign private players.
2. Redefining the role of the State in the economic system.
3. 'Rolling back' of the State from the economy and going for 'strategic disinvestment'.
Select the correct code given below:

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

  1. 1 and 2

  2. 2 and 3

  3. 1 and 3

  4. 1, 2 and 3

Show answer
Correct Option: A
Explanation:

The things,which the GoI did in the name of following planning more inclined towards being 'indicative' was called 'rolling back' of the State (this is a word used by the 'critics ' of the government policy). The 'strategic disinvestment ' was part of it.

Select the correct ones related to the development model of India. using the code given below:
1. Governing Council of the NM Aayog is a better body than that of the National Development Council (NDC). 
2. In wake of the increased co-operative federalism the Twenty Point Programme (TTP) looks like it is losing the relevance.

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

  1. Only 1

  2. Only 2

  3. 1 and 2

  4. Neither 1 nor 2

Show answer
Correct Option: D
Explanation:

Governing Council does not only includes the CMs of states and Lt. Governors/ Chief Administrators of the UTs but it plays a more organic role in the decision making process of the Niti Aayog. Once the centrally sponsored schemes (CSSs1 have been restructured and high flexibility given to the states in their implementation the TPP looks an outdated programme.

Who among the following constitute the National Development Council? 

1. The Prime Minister
2. The Chairman, Finance Commission
3. Ministers of the Union Cabinet
4. Chief Ministers of the States
Select the correct answer using the code given below:

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

  1. 1, 2 and 3

  2. 1, 3 and 4

  3. 2 and 4

  4. 1, 2, 3 and 4

Show answer
Correct Option: B
Explanation:

The National Development Council or Rashtriya Vikas Parishad is the apex body for decision creating and deliberations on development matters in India, presided over by the Prime Minister

The Council comprises the Prime Minister, the Union Cabinate Ministers, Chief Ministers of all States or their substitutes, representatives of the Union Territories and the members of the NITI Aayog (Planning Commission).

The first Chairman of the Indian Planning Commission was ________.

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

  1. Gulzari Lal Nanda

  2. Jawaharlal Nehru

  3. Rajendra Prasad

  4. Sardar Patel

Show answer
Correct Option: B
Explanation:

India after becoming independent, planning commission was introduced on 15 March 1950 by Indian government to improve standards of living of people who were deprived for centuries. First chairman of planning commission in India was Jawaharlal Nehru as he was the Prime Minister then.

The author of 'Planned Economy for India' is  ___________

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

  1. Jawaharlal Nehru

  2. Indira Gandhi

  3. C. Rajagopalachari

  4. M. Visvesvaraya   

Show answer
Correct Option: D
Explanation:

The author of 'Planned Economy for India' is M. Visveswaraiah.
Mokshagundam Visvesvaraya, KCIE was an Indian engineer, scholar, statesman and the Diwan of Mysore from 1912 to 1918. He is a recipient of the Indian Republic's highest honour, the Bharat Ratna, in 1955. He was knighted as a Knight Commander of the British Indian Empire (KCIE) by King George V for his contributions to the public good. 15 September is celebrated as Engineer's Day in India in his memory. He is held in high regard as a pre-eminent engineer of India. He was the chief engineer responsible for the construction of the Krishna Raja Sagara dam in Mysore as well as the chief designer of the flood protection system for the city of Hyderabad.

The chairman of the National Planning Commission is the __________.

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

  1. Prime Minister

  2. Finance Minister

  3. President of India

  4. Vice President

Show answer
Correct Option: A
Explanation:

After India achieved Independence, a formal model of planning was adopted, and accordingly the Planning Commission, reporting directly to the Prime Minister of India, was established on 15 March 1950.

During the 20th century, in order to achieve faster economic development, many countries adopted __________.

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

  1. tax reforms

  2. economic reforms

  3. economic planning

  4. social planningg

Show answer
Correct Option: C
Explanation:

Economic planning is a term used to describe the long term plans of an incumbent government to manage the economy. Economic planning is a common feature of big government and usually dictates increased spending and deficits to fund government programs and public works projects. During the 20th century, in order to achieve faster economic development, many countries adopted economic planning.

With the rise of _______ during the 20th century, governments began to provide many facilities to their citizens.

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

  1. welfare states

  2. democratic states

  3. dictatorship

  4. socialist states

Show answer
Correct Option: A
Explanation:

Welfare states is a concept of government in which the state plays a key role in the protection and promotion of the economic and social well-being of its citizens. A welfare state is based on the principles of equality of opportunity, equitable distribution of wealth and public responsibility for those unable to avail themselves of the minimal provisions of a good life. Under this system, the welfare of its citizens is the responsibility of the state.