(1). National Development Council was set úp in:
(a) 1948
(b) 1950
(c) 1951
(d) 1952
Ans: (d) 1952
(2). Economic Planning is a subject
(a) in the Union List
(b) in the State List
(c) in the Concurrent List
(d) unspecified in any special list
Ans: (a) in the Union List
(3). 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
Ans: (a) taxation only
(4). The National Development Council gets its administrative support from:
(a) Planning Commission
(b) Finance Commission
(c) Administrative Reforms Commission
(d) Sarkaria Commission
Ans: (a) Planning Commission
(5).The Five 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 nonresident Indians
Ans: (c)the public, private, Joint and Cooperative sectors
(6). The Planning Commission is:
(a) a Ministry
(b) a Government department
(c) an Advisory body
(d) an Autonomous Corporation
Ans: (c) an Advisory body
(7). 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
Ans: (b) The Prime Minister is the Chairman of the Planning Commission
(8).The principal reason Wny naional economic planning is still being pursued inspite of embracing amarket 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
planning 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
Ans: (d) Five Year Plans can continue to provide a long-term perspective to the economy in market friendly fashions
(9).Take ofl stage n an cconomy means
(a) steady growth begins
(b) economy is stagnant
(c) economy is about to collapse
(d) all controls are removed
Ans: (a) steady growth begins
(10). Planning in India derives its objectives from:
(a) Fundamental Rights
(b) Directive Principles of State policy
(c) Fundamental Duties
(d) Preamble
Ans: (b) Directive Principles of State policy
(11). 70% of working population of India is engaged in:
(a) public sector
(b) primary sector
(c) secondary sector
(d) tertiary sector
Ans: (b) primary sector
(12). Economic survey is published by:
(a) Ministry of Finance
(b) Planning Commission SmartPrep
(c) Govt. of India
(d) Indian Statistical Institute
Ans: (a) Ministry of Finance
(13). Who is called the "Father of Economics'?
(a) Max Muller
(b) Karl Marx
(c) Adam Smith
(d) None of these
Ans: (c) Adam Smith
(14). The concept of Five Year Plans in India was introduced by
(a) Lord Mountbatten
(b) Jawaharlal Nehru
(c) Indira Gandhi
(d) Lal Bahadur Shastri
Ans: (b) Jawaharlal Nehru
(15). India has:
(a) Socialistic economy
(b) Gandhian cconomy
(c) Mixed economy
(d) Free economy
Ans: (c) Mixed economy
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