All questions of Economic Planning for BPSC (Bihar) Exam

Consider the following pairs:
1. National Statistical Commission - C. Rangarajan
2. Fiscal Responsibility and Budget Management (FRBM) Act - 2003
3. Value Added Tax (VAT) - Promotes centralization
4. 73rd and 74th Constitutional Amendments - Decentralized planning
How many pairs given above are correctly matched?
a)
Only one pair
b)
Only two pairs
c)
Only three pairs
d)
All four pairs
Correct answer is option 'C'. Can you explain this answer?

Upsc Rank Holders answered

1. National Statistical Commission - C. Rangarajan: This pair is correctly matched. The National Statistical Commission was indeed chaired by C. Rangarajan in 2000.

2. Fiscal Responsibility and Budget Management (FRBM) Act - 2003: This pair is correctly matched. The FRBM Act was enacted in 2003.

3. Value Added Tax (VAT) - Promotes centralization: This pair is incorrectly matched. VAT implementation is actually a step towards decentralization, allowing states more control over their tax revenues.

4. 73rd and 74th Constitutional Amendments - Decentralized planning: This pair is correctly matched. The 73rd and 74th Amendments promoted decentralized planning by delegating powers to local bodies.

So, pairs 1, 2, and 4 are correctly matched, while pair 3 is not.

Thus, the correct answer is Option C: Only three pairs.

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