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Test: Indian Economy - 2


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20 Questions MCQ Test Indian Economy for UPSC CSE | Test: Indian Economy - 2

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Test: Indian Economy - 2 - Question 1

When was Twelfth five year plan started

Detailed Solution for Test: Indian Economy - 2 - Question 1

On 4th October, the government of India approved the 12th five year plan (2012-17) that aims to achieve annual average economic growth rate of 8.2 per cent, down from 9 per cent (Eleventh plan 2007-12). The aim of the 12th Five Year plan is to achieve “faster, sustainable and more inclusive growth”.

Test: Indian Economy - 2 - Question 2

The first Factories Act was enacted in

Test: Indian Economy - 2 - Question 3

Planning commission was set up in

Test: Indian Economy - 2 - Question 4

Who presented the first five year plan

Test: Indian Economy - 2 - Question 5

Agriculture education ,health and infrastructure were the priority areas in which Five Year Plan

Detailed Solution for Test: Indian Economy - 2 - Question 5

The objective of 11th Five-year plan is to Increase agricultural GDP growth to 4% per year to ensure a wider spread of benefits. Create 70 million new work opportunities. Augment minimum standards of education in primary school and to increase GDP up to 10%. Health and infrastructure were also the priority areas in 11th Five Year Plan.

Test: Indian Economy - 2 - Question 6

First five year plan focused on ____ production while in second plan shifted the focus to _____

Test: Indian Economy - 2 - Question 7

Twelfth five year plan

Test: Indian Economy - 2 - Question 8

Which is the primary objective of economic planning in India

Test: Indian Economy - 2 - Question 9

GDP

Test: Indian Economy - 2 - Question 10

As per India Vision _____ Report prepared by Planning Commission India’s per capita income has doubled over the past 20 years

Detailed Solution for Test: Indian Economy - 2 - Question 10

The Committee on Vision 2020 was constituted by the Planning Commission in June, 2000, under the chairmanship of SP Singh, for crystallising the country’s vision for the future in the year 2020.The vision will reflect people’s aspirations, the full potentials of growth and development, and lay out the efforts needed to fulfill this vision.
The objective of this committee was, as described by Dr. Abdul Kalam, "Transforming the nation into a developed country, five areas in combination have been identified based on India's core competence, natural resources and talented manpower for integrated action to double the growth rate of GDP and realize the Vision of Developed India”

Test: Indian Economy - 2 - Question 11

At the time of independence the government of India adopted the following for the future economic development

Detailed Solution for Test: Indian Economy - 2 - Question 11

Planning by Inducements: In this system there is persuasion rather than compulsion or deliberate enforcement of orders.  Here the consumers are free to consume whatsoever they like, producers are free to produce whatsoever they wish. 
A free market is one where voluntary exchange and the laws of supply and demand provide the sole basis for the economic system, without government intervention. A key feature of free markets is the absence of forced transactions or conditions on transactions.

Test: Indian Economy - 2 - Question 12

MRTP stands for

Test: Indian Economy - 2 - Question 13

The need for planning emerges from the following weakness of the free market system

Test: Indian Economy - 2 - Question 14

The basic problem the Indian economy is facing is shortage of

Detailed Solution for Test: Indian Economy - 2 - Question 14

High level of illiteracy, lack of healthcare facilities, and limited access to resources are some of the basic problems in poor areas. Pollution and environmental issues are the other challenges that India is facing at present.

Test: Indian Economy - 2 - Question 15

Perspective plan is

Test: Indian Economy - 2 - Question 16

Self reliance objective of planning means reducing dependence

Detailed Solution for Test: Indian Economy - 2 - Question 16

Self-reliance, or for that matter self-sufficiency, refers to the elimination of external assistance. It means that an economy is so sufficient that it does not have to rely on any external help or assistance. In other words, it means zero foreign aid.

Test: Indian Economy - 2 - Question 17

Who developed HYV seeds

Detailed Solution for Test: Indian Economy - 2 - Question 17

Normal Borlaug was also known as the “Father of the Green Revolution,” Borlaug helped lay the groundwork for agricultural technological advances that alleviated world hunger. Borlaug studied plant biology and forestry at the University of Minnesota and earned a Ph. D. in plant pathology there in 1942.

Test: Indian Economy - 2 - Question 18

Inclusive growth can be achieved by

Test: Indian Economy - 2 - Question 19

HYVP stands for

Detailed Solution for Test: Indian Economy - 2 - Question 19

High Yielding Variety Programme (HYVP) The core philosophy of the programme was to increase the productivity of food grains by adopting latest varieties of inputs of crops. Introduction of new high yielding varieties of improved seeds and enhanced application of the fertilizers and extended use of pesticides were its main features.

Test: Indian Economy - 2 - Question 20

Define GDP

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