GK Questions and Answer, GK Quiz

1:  The basic difference between the two types of economic planning - imperative and indicative planning - is that
Options:
  1. it is easier to achieve targets in imperative type of planning
  2. in the case of imperative planning, all economic activities belong to public sector, while in the other type they belong to the private sector
  3. in the case of the imperative planning, the market mechanism is entirely replaced by a command hierarchy, while in the case of indicative planning, it is looked upon as a way to improve the functioning of the market system
  4. in the case of indicative planning, there is no need to nationalise any industry

Answer: Option3

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2:  A rolling plan for the Indian economy is a plan that is for
Options:
  1. one year
  2. three years
  3. five years
  4. on year to year basis

Answer: Option4

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3:  Among the following options, which one is not a feature of India's economic planning?
Options:
  1. Limited centralisation
  2. Democratic solution
  3. Planning of imperative nature
  4. Planning of indicative nature

Answer: Option3

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4:  In which year did the Seventh Five Year Plan of India commence?
Options:
  1. 1985
  2. 1986
  3. 1990
  4. 1991

Answer: Option1

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5:  The 'Food For Work Programme' was restructured and renamed as National Rural Employment Programme (NREP) during which of the following Five Year Plans of India?
Options:
  1. Third
  2. Fourth
  3. Fifth
  4. Sixth

Answer: Option4

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6:  During the tenure of which of the following Five Year Plans of India was the Khadi and Village Industries Commission (KVIC) set up?
Options:
  1. First
  2. Second
  3. Third
  4. Fourth

Answer: Option2

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7:  The main model that formed the basis of the strategy of the Second Five Year Plan of India was formulated by which of the following persons?
Options:
  1. V. K. R. V. Rao
  2. P. C. Mahalanobis
  3. D. R. Gadgil
  4. P. R. Brahmananda

Answer: Option2

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8:  Among the following statements, which one is true?
Options:
  1. Financial planning is more important than physical planning.
  2. Physical planning is more important than financial planning.
  3. Physical and financial planning are equally important.
  4. Physical and financial planning are complementary.

Answer: Option4

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9:  Economic planning is an essential feature of which of the following types of economies?
Options:
  1. Dual economy
  2. Mixed economy
  3. Capitalist economy
  4. Socialist economy

Answer: Option4

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10:  On what principle was the Gandhian economy based on?
Options:
  1. State Control
  2. Competition
  3. Trusteeship
  4. Rural cooperation

Answer: Option3

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11:  The 'Hindu rate of growth' is a term which refers to the low annual growth rate of the Indian economy, hovering around 3.5%, from 1950s to 1980s. The term was coined by which of the following Indian economists?
Options:
  1. J. N. Bhagwati
  2. K. N. Raj
  3. Raj Krishna
  4. Sukhamoy Chakravarty

Answer: Option3

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12:  Which of the following periods was covered by the Eighth Five Year Plan in India?
Options:
  1. 1989-1994
  2. 1990-1995
  3. 1991-1996
  4. 1992-1997

Answer: Option4

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13:  An accurate measurement of economic development through Five Year Plans is represented through which of the following criterions?
Options:
  1. Development of education and health services.
  2. Development of railways and roadways.
  3. Rise in national income and per capita income.
  4. Development of industrial towns and industrial estates.

Answer: Option3

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14:  During which of the following periods were the steel plants at Durgapur, Bhilai and Rourkela established in India?
Options:
  1. First Five Year Plan
  2. Second Five Year Plan
  3. Third Five Year Plan
  4. Fourth Five Year Plan

Answer: Option2

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15:  During whose Prime Minister ship was the strategy of Rolling Plan adopted in India?
Options:
  1. Lal Bahadur Shastri
  2. Indira Gandhi
  3. Morarji Desai
  4. Rajiv Gandhi

Answer: Option3

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16:  The Five Year Plans of India intend to develop the country industrially through which of the following?
Options:
  1. the public sector
  2. the private sector
  3. the public, private, joint and Cooperative sectors
  4. increasing collaboration with non-resident Indians

Answer: Option3

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17:  The National Development Council (NDC) in India, does not comprise
Options:
  1. The Prime Minister
  2. The President
  3. Chief Ministers of States
  4. Union Cabinet Ministers

Answer: Option2

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18:  According to the Constitution of India, Economic Planning is a subject
Options:
  1. in the Union List
  2. in the State List
  3. in the Concurrent List
  4. unspecified in any special list

Answer: Option3

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19:  Which of the following Five Year Plans of India was terminated one year before its completion by the Government of the day?
Options:
  1. Second
  2. Third
  3. Fourth
  4. Fifth

Answer: Option4

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20:  Among other functions, which one of the following is the task of the Planning Commission of India?
Options:
  1. Preparation of the Five Year Plan
  2. Implementation of the Five Year Plan
  3. Financing the Five Year Plan
  4. Both (a) & (b)

Answer: Option1

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