Nature of Indian Economy Questions and answers

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      1. Nature of Indian Economy
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11). The contribution of agriculture to India's economy is :
A). increasing
B). decreasing
C). constant
D). none of these
12). Which of the following bodies finalises the Five Year Plan proposals?
A). Planning Commission
B). Union Cabinet
C). National Development Council
D). Ministry of Planning
13). National Development Council was set up in :
A). 1948
B). 1950
C). 1951
D). 1952
14). Economic Planning is a subject :
A). in the Union List
B). in the State List
C). in the Concurrent List
D). unspecific in any special list
15). For internal financing of Five Year Plans, the government depends on :
A). taxation only
B). taxation and public borrowing
C). public borrowing and deficit financing
D). taxation, public borrowing and deficit financing


16). The National Development Council gets its administrative support from :
A). Planning Commission
B). Finance Commission
C). Administrative Reforms Commission
D). Sarkaria Commission
17). The Fiver Year Plans of India intend to develop the country industrially through :
A). the public sector
B). the private sector
C). the public, private, joint and Cooperative sectors
D). increasing collaboration with non-resident Indians
18). The Planning Commission is :
A). a Ministry
B). a Government department
C). an Advisory body
D). an autonomous Corporation
19). Which of the following statements is correct?
A). Planning Commission is a constitutional body
B). The Prime Minister is the Chairman of the Planning Commission
C). The Minister of Planning is always necessarily the Deputy Chairman of
Planning Commission
D). The draft plan is prepared by the National Development Council
20). The principal reason why national economic planning is still being pursued
in spite of embracing a market economy since 1991 is that :
A). The vast quantity of capital already deployed in the public sector needs to be
nurtured
B). The market economy is mainly confined to industry and commerce and
central in agriculture is necessary.
C). it is a constitutional requirement
D). Five Year Plans can continue to provide a long-term perspective to the
economy in market friendly fashions
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Total Pages : 23



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