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61). Consider the following statements about the Second Five Year Plan
1. Priorities were given in the production of iron and steel and heavy engineering and machine building industries.
2. Strengthened the oil exploration and coal in India.
Which of the statements given above is/are correct?
A). Only 1
B). Only 2
C). Both 1 and 2
D). Neither 1 nor 2
62). Which one among the following Five Year Plans of Indian economy diversified the planning, shifting focus from heavy and basic industries to new sunrise industries like telecommunication, computers, electronic?
A). Second Five Year Plan
B). Fourth Five Year Plan
C). Seventh Five Year Plan
D). Ninth Five Year Plan
63). Which of the following Five Year Plans of the Indian economy for the first time did devise the new strategy for industrialisation of backward regions to reduce regional disparities in Industrialisation of the country?
A). Third Plan
B). Fourth Plan
C). Sixth Plan
D). Eight Plan
64). Which of the following Five Year Plans of Indian Economy encouraged the Industrial Sectors to use Robotics, Fibre Optics to enhance the quality and Productivity for the first time in the process or industrialisation of the Country?
A). First Plan
B). Second Plan
C). Fourth Plan
D). Seventh Plan
65). Consider the following statements
1. India has attained self-sufficiency in almost all consumer goods.
2. In the term of capital goods, India still depends on the import.
Which of the statements given above is/are correct?
A). Only 1
B). Only 2
C). Both 1 and 2
D). Neither 1 nor 2


66). If the interest rate is decreased in an economy, it will
A). decrease the consumption expenditure in the economy.
B). increase the tax collection of the government.
C). increase the investment expenditure in the economy.
D). increase the total savings in the economy.
67). Consider the following statements
1. In Indian economy, the employment generated by the private sector is more than that of the public sector.
2. In Indian economy, the growth rate of public sector in the industrial areas like heavy and basic industries, machine goods sector etc is more than that of the private sector.
Which of the statements given above is/are correct?
A). Only 1
B). Only 2
C). Both 1 and 2
D). Neither 1 nor 2
68). Which one of the following is the correct sequence of economic sectors in terms of their contribution to the GDP of India in decreasing order?
A). Service -- Industry -- Agriculture
B). Agriculture -- Industry -- Service
C). Industry -- Service -- Agriculture
D). Agriculture -- Service -- Industry
69). Which of the following is true about Index of Industrial Production (IIP)?
1. It measures the general level of industrial activity
2. It does not show volume of activity.
3. It only shows the magnitude which represents the status of production.
4. The first IIP was published in 1990.
Choose the correct answer using the codes given below
A). 1 and 2
B). 2 and 3
C). 1, 2 and 3
D). All of these
70). The income elasticity of demand for interior goods is
A). less than one
B). less than zero
C). equal to one
D). greater than one
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