Class 12 Economics MCQ Chapter 10 Common Goals of Five Years Plans

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Class 12 Economics MCQ Chapter 10 Common Goals of Five Years Plans

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Common Goals of Five Years Plans

Chapter: 10

PART – B: INDIAN ECONOMIC DEVELOPMENT

1. Economic planning primarily means:

(i) Letting prices alone guide all decisions.

(ii) A central authority allocating resources to meet time-bound goals.

(iii) Only private firms choose investments.

(iv) Random policy experiments.

Ans: (ii) A central authority allocating resources to meet time-bound goals.

2. A mixed economy is one where:

(i) Only public sector operates.

(ii) Only private sector operates.

(iii) Public and private sectors coexist with state regulation.

(iv) Markets are banned.

Ans: (iii) Public and private sectors coexist with state regulation.

3. The Planning Commission of India was established on:

(i) 15 August 1947.

(ii) 1 January 2015.

(iii) 15 March 1950.

(iv) 6 August 1952.

Ans: (iii) 15 March 1950.

4. The draft outline of the First Five-Year Plan was presented in:

(i) July 1951.

(ii) April 1950.

(iii) January 1952.

(iv) December 1949.

Ans: (i) July 1951.

5. The First Five-Year Plan period was:

(i) 1950–55.

(ii) 1951–56.

(iii) 1952–57.

(iv) 1956–61.

Ans: (ii) 1951–56.

6. The “Plan Holiday” refers to:

(i) 1951–56.

(ii) 1966–69.

(iii) 1974–78.

(iv) 1990–92.

Ans: (ii) 1966–69.

7. The National Development Council (NDC) was constituted on:

(i) 6 August 1952.

(ii) 15 March 1950.

(iii) 1 January 2015.

(iv) 26 January 1950.

Ans: (i) 6 August 1952.

8. The Second Five-Year Plan’s strategy is associated with:

(i) M. Visvesvaraya.

(ii) P.C. Mahalanobis.

(iii) M.N. Roy.

(iv) Dadabhai Naoroji.

Ans: (ii) P.C. Mahalanobis.

9. The Eighth Five-Year Plan started in:

(i) 1990.

(ii) 1991.

(iii) 1992.

(iv) 1993.

Ans: (iii) 1992.

10. The Twelfth Five-Year Plan covered:

(i) 2007–12.

(ii) 2012–17.

(iii) 2017–22.

(iv) 2002–07.

Ans: (ii) 2012–17.

11. NITI Aayog was established on:

(i) 2 October 2014.

(ii) 1 January 2015.

(iii) 26 January 2015.

(iv) 15 August 2016.

Ans: (ii) 1 January 2015.

12. The ex-officio Chairperson of NITI Aayog is the:

(i) Finance Minister.

(ii) President of India.

(iii) Prime Minister of India.

(iv) Chief Justice of India.

Ans: (iii) Prime Minister of India.

13. NITI Aayog primarily functions as a:

(i) Lending bank.

(ii) Policy think tank without allocative powers.

(iii) Centralized fund allocator.

(iv) Tax authority.

Ans: (ii) Policy think tank without allocative powers.

14. NITI Aayog emphasizes which approach?

(i) Top-down centralized planning.

(ii) Bottom-up cooperative federalism (“Team India”).

(iii) Autarkic isolation.

(iv) Only private consultation.

Ans: (ii) Bottom-up cooperative federalism (“Team India”).

15. Which is NOT a common long-term goal of Indian planning?

(i) Growth.

(ii) Modernization.

(iii) Self-reliance.

(iv) Hyperinflation.

Ans: (iv) Hyperinflation.