History of Development & Planning - Indian Economy General Awareness MCQs | Page-3

Answer: Option [A]

The concept of Five Year Plans in India was introduced by Jawaharlal Nehru. The first Indian prime minister, Jawaharlal Nehru, presented the First Five-Year Plan to the Parliament of India and needed urgent attention. K.N Raj, a young economist, argued that India should "hasten slowly" for the first two decades. It mainly addressed the agrarian sector, including investment in dams and irrigation.

Answer: Option [A]

The correct answer is First. During first Five Year Plan (1951-56) the price level in Indian economy showed a decline because of rapid agricultural development and measures to control inflation as there was disequilibrium due to second world war and partition of economy.

Answer: Option [D]

Success of 4th plan was obstructed by All of the above. But the Indo-Pakistan war, liberation of Bangladesh and problem of Bangladesh refugees , successive failures of monsoon, Asian Oil Crisis of 1973 marred the objectives of this plan. The international economic turmoil due to Oil crisis upset the calculations for Fourth Plan. So only 3.4% growth could be achieved.

Answer: Option [D]

The correct answer is 2013-16. The Revised Sixth National Development Plan 2013-2016 (R-SNDP) is the revision of the Sixth National Development Plan 2011-2015. The R-SNDP is aimed at achieving the objectives set out in the Vision 2030 of Zambia becoming a “prosperous middle-income country by 2030”.

Answer: Option [B]

The strategy of Rolling plan was adopted during the Prime Ministership of Morarji Desai. Rolling plan was introduced by the Janata party which formed government led by Moraarji Desai. It rejected the Fifth five year Plan of the preceding Congress government and launched the rolling plan which could be revised as per the needs of the economy due to the inherent flexibility in the plan.

Answer: Option [D]

The basic feature of the Rolling Plans was that annual fluctuations in prices and major economic developments could be considered while fixing targets.

Answer: Option [D]

The correct answer is Fourth Five Year Plan. The Fourth Plan postulated an annual growth rate of 5% for agriculture as a whole. The compound growth rate target for food’ grains worked out to be 5.6% p.a. Frankly speaking none of the targets fixed in the Fourth Plan was realised.

Answer: Option [C]

The first Chairman of the Planning Commission was Pt. Jawaharlal Nehru. After India achieved independence, a formal model of planning was adopted, and accordingly the Planning Commission, reporting directly to the Prime Minister of India, was established on 15 March 1950, with Prime Minister Jawaharlal Nehru as the Chairman.

Answer: Option [A]

The correct answer is Fifth. In Fifth of the Five Year Plans, preference was given to the weaker sections of the society.

Answer: Option [C]

The growth rate of agricultural production was negative in the Third Plan. The Third Five Year Plan stressed on the growth of industries and agriculture. It aimed at increasing the agricultural production by 30%, however, India failed to achieve its target because of wars with Pakistan and China in 1965 and 1962 and also because of the bad monsoon.