12th Class Economics Indian Economy / भारतीय अर्थव्यवस्था Question Bank

done MCQs - Indian Economy (1950-1990) Total Questions - 35

• question_answer1)
  ......... means designing and shaping the socio-economic processes in such a way so as to achieve an objective.
  A)
  Economic Growth done clear
  B)
  Economic Development done clear
  C)
  Economic Planning done clear
  D)
  Economic Process done clear
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• question_answer2)
  India follows a socialist economic system.
  A)
  True  done clear
  B)
  False done clear
  C)
  Partially false done clear
  D)
  Can't comment. The structure and goals of Indian economic system varies from time to time. done clear
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• question_answer3)
  Long-term plans are preposterous in nature and are referred to as 'prescriptive plans.'
  A)
  True done clear
  B)
  False done clear
  C)
  Partially false done clear
  D)
  Can't comment, as the goals of plan varies from time-to-time done clear
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• question_answer4)
  ......... implies setting up an upper limit of the land that could be owned by a land owner.
  A)
  Land fragmentation done clear
  B)
  Land ceiling done clear
  C)
  Land quota done clear
  D)
  Land restriction done clear
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• question_answer5)
  State the correct combination between the following columns

  	Column A		Column B
  A.	Land ceiling	(i)	Increase in the production of food grains using high yielding variety seeds.
  B.	Land reforms	(ii)	Portion of agricultural produce sold in the market.
  C.	Green revolution	(iii)	Fixing the maximum limit of land holding for an individual
  D.	Marketed surplus	(iv)	Change in the ownership of land (land to tillers)

  Codes
  A)
  A-(iv)    B-(ii)     C-(iii)     D-(i) done clear
  B)
  A-(iv)    B-(i)      C-(ii)     D-(iii) done clear
  C)
  A-(iii)     B-(i)      C-(ii)     D-(iv) done clear
  D)
  A-(iii)     B-(iv)    C-(i)      D-(ii) done clear
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• question_answer6)
  Small Scale Industries (SSI) are those with investment potential of Rs. 1 crore and which requires more use of labour.
  A)
  True done clear
  B)
  False done clear
  C)
  Partially true done clear
  D)
  Can't say done clear
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• question_answer7)
  In which of these nations, economic activities are governed by socialistic principles?
  A)
  India and China done clear
  B)
  China and Indonesia done clear
  C)
  Cuba and Indonesia done clear
  D)
  China and Cuba done clear
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• question_answer8)
  Who among the following is considered as the chief architect of Indian planning?
  A)
  Jawaharlal Nehru done clear
  B)
  Sir Benegal Rama Rau done clear
  C)
  Prasanta Chandra Mahalanobis done clear
  D)
  Rajendra Prasad done clear
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• question_answer9)
  Planning in India started with a heavy reliance on the ......... sector.
  A)
  Public done clear
  B)
  Private done clear
  C)
  Both public and private done clear
  D)
  Service done clear
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• question_answer10)
  Jawaharlal Nehru and many other leaders favoured capitalism for India. The given statement is
  A)
  True      done clear
  B)
  False done clear
  C)
  Partially true done clear
  D)
  Can't comment done clear
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• question_answer11)
  Select the correct combination between the following columns.

  	Column A		Column B
  A.	Socialism	(i)	Coexistence of both public and public sector
  B.	Capitalism	(ii)	Produced goods are distributed on the basis of purchasing power of the people.
  C.	Mixed economic system	(iii)	What, how and for whom to produce
  D.	Central problems of an economic system and not	(iv)	Produced goods are distributed on the basis of need

  Codes
  A)
  A-(ii)     B-(iv)    C-(i)      D-(iii) done clear
  B)
  A-(i)      B-(iv)    C-(ii)     D-(iii) done clear
  C)
  A-(iv)    B-(i)      C-(ii)     D-(iii) done clear
  D)
  A-(iv)    B-(ii)     C-(i)      D-(iii) done clear
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• question_answer12)
  Which among the following is the primary objective of economic planning in context of India?
  A)
  Balanced regional development done clear
  B)
  Reduction in poverty done clear
  C)
  Growth with social justice done clear
  D)
  Reducing inflation done clear
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• question_answer13)
  Which sector received top most priority in the first five year plan in India?
  A)
  Agriculture done clear
  B)
  Service done clear
  C)
  Manufacturing done clear
  D)
  All sectors received equal priorty done clear
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• question_answer14)
  ...... refers to an increase in the country's capacity to produce an output of goods and services within an economy.
  A)
  Economic growth done clear
  B)
  Economic development done clear
  C)
  Sustained growth done clear
  D)
  Gross Domestic Product (GDP) done clear
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• question_answer15)
  Post-independence, India has always focused to become a self-sufficient or a self-reliant nation. This goal in the present Modi-era has been termed as
  A)
  Safal Bharat done clear
  B)
  Kaushal Bharat done clear
  C)
  Atmanirbhar Bharat done clear
  D)
  Apna Bharat done clear
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• question_answer16)
  A plan should have some well specified goals. Which of the following is incorrect with regard to the goals of five year plans in India?
  A)
  An increase in the country's capacity to produce goods and services done clear
  B)
  Change in the socio-economic outlook done clear
  C)
  Building an industrial economy with widening wage-parities done clear
  D)
  Ensuring the fruits of development is reaped by all done clear
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• question_answer17)
  What is peculiar about the structural transformation process in context of Indian economy?
  A)
  Balanced development of all the sectors with equal contribution to the GDP done clear
  B)
  Direct jump from agriculture to services with later contributing more to the GDP done clear
  C)
  Transformation in the economic outlook- from agrarian to industrial done clear
  D)
  A jump from agriculture to industry with later contributing more to the GDP done clear
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• question_answer18)
  Land reform measures were successful in which of the given states?
  A)
  Punjab and Haryana done clear
  B)
  Maharashtra and West Bengal done clear
  C)
  Uttar Pradesh and Madhya Pradesh done clear
  D)
  Kerala and West Bengal done clear
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• question_answer19)

  Arrange the following events in chronological order in context on Indian Economy

  (i) Introduction of second phase of green revolution

  (ii) Setting up of Karve Committee for encouraging rural development

  (iii) Setting up of Planning Commission

  (iv) Introduction of the New Economic Policy

  A)
  (iii), (i), (ii), (iv) done clear
  B)
  (iii), (ii), (i), (iv) done clear
  C)
  (i), (ii), (iii), (iv) done clear
  D)
  (i), (iv), (ii), (iii) done clear
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• question_answer20)
  Achieved growth rate has always been higher than the expected growth rate during 1950-1990. The given statement is
  A)
  True done clear
  B)
  False done clear
  C)
  Partially true done clear
  D)
  Can't say. There are no reliable estimates of growth rate done clear
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• question_answer21)
  What is needed to provide protection against natural calamities like floods, drought, locusts, thunderstorms etc.?
  A)
  Multiple cropping done clear
  B)
  Green revolution done clear
  C)
  Crop insurance done clear
  D)
  Terrace cropping done clear
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• question_answer22)

  Which of the given statements explain the major hurdles faced by the land reform and the land ceiling legislation?

  (i) Big landlords registered their land in the name of close relatives, thus escaping from the land ceiling legislation.

  (ii) There have been cases in which tenants were evicted and landlords claimed to the actual tillers.

  (iii) Landlords used loopholes in the legislation to their comparative advantage to own large areas of land.

  (iv) The goal of equity was not served fully because of serious loopholes in the legislation.

  A)
  (i), (ii), (iv) done clear
  B)
  (ii), (iii), (iv) done clear
  C)
  (i), (iii), (iv) done clear
  D)
  (i), (ii), (iii), (iv) done clear
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• question_answer23)
  Which of the following alternative (s) explain the debate regarding the provision of subsidies during 1960's and 70's?
  A)
  Substituting fertiliser subsidies with seed subsidies as the former was benefitting big farmers than small farmers. done clear
  B)
  Substituting fertiliser subsidies with agricultural subsidies as the former was benefitting fertiliser industry and not-the-target group. done clear
  C)
  Shifting agricultural subsidies from production to consumption and thus benefit the prospective consumers done clear
  D)
  All of the above are true done clear
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• question_answer24)
  Which particular trade policy India adopted during first-seven five-year plans?
  A)
  Inward looking trade policy done clear
  B)
  Partially inward looking trade policy done clear
  C)
  Outward looking trade policy done clear
  D)
  Partially outward looking trade policy done clear
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• question_answer25)
  ......... policy followed in the first seven five year plans of India, aimed at substituting imports with domestic production.
  A)
  Inward looking trade done clear
  B)
  Outward looking trade done clear
  C)
  Import substitution done clear
  D)
  Both (a) and (c) done clear
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• question_answer26)
  The other name of Village and Small-Scale Industries Committee set up in 1955 is
  A)
  Lakdawala committee done clear
  B)
  Karve committee done clear
  C)
  Narasimham committee done clear
  D)
  Hussain committee done clear
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• question_answer27)
  In 1955, Karve committee was constituted for aiming the .............
  A)
  Promotion of rural development using small scale industries done clear
  B)
  Promotion of agriculture using modern inputs done clear
  C)
  Promotion of banking services through higher infrastructural support done clear
  D)
  Promotion of land settlement system with modifications in the existing norms done clear
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• question_answer28)
  The two well managed iron and steel firms during 1950-90's were located in
  A)
  Mumbai and Nagpur done clear
  B)
  Kolkata and Jamshedpur done clear
  C)
  Mumbai and Jamshedpur done clear
  D)
  Nagpur and Bhopal done clear
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• question_answer29)
  The main goal of the Industrial Policy Resolution (1956) was to ensure balanced regional development with state controlling commanding heights in an economy. The given statement is
  A)
  True done clear
  B)
  False done clear
  C)
  Partially false done clear
  D)
  Can't say, as the goal gave equal importance to public and private sector done clear
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• question_answer30)
  How many industries have been reserved for the public sector under Industrial Policy Resolution, 1956?
  A)
  17         done clear
  B)
  21 done clear
  C)
  15  done clear
  D)
  2 done clear
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• question_answer31)
  Which among the following act as an external factor contributing to industrial sickness?
  A)
  Diversion of funds done clear
  B)
  Lack of management done clear
  C)
  Excessive overhead cost done clear
  D)
  Government policies with regard to production, distribution and pricing done clear
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• question_answer32)
  Protection from foreign competition enabled the establishment of which particular indigenous industry?
  A)
  Electronics and Petrochemicals done clear
  B)
  Electronics and Telecommunications done clear
  C)
  Electronics and Automobiles done clear
  D)
  Electronics and Chemicals done clear
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• question_answer33)

  Which among the following were the major industrial concessions as provided by the government in order to bring about balanced regional development?

  (i) Tax holiday for the newly established units in backward regions.

  (ii) Supply of power at concessional rates

  (iii) Provision of cheap labour and technology

  (iv) Support from the government towards using more capital intensive techniques

  A)
  (ii) and (iii) done clear
  B)
  (i) and (iv) done clear
  C)
  (i) and (ii) done clear
  D)
  (iii) and (iv) done clear
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• question_answer34)
  Select the correct combination between the following columns

  	Column A		Column B
  A.	1955	(i)	Setting up of Planning Commission
  B.	Tariff	(ii)	Protection from trade
  C.	Green revolution	(iii)	Wheat and Rice
  D.	1950	(iv)	Committee for small scale industries

  Codes
  A)
  A-(i)      B-(ii)     C-(iii)     D-(iv) done clear
  B)
  A-(iv)    B-(ii)     C-(iii)     D-(i) done clear
  C)
  A-(ii)     B-(iii)     C-(i)      D-(iv) done clear
  D)
  A-(iv)    B-(ii)     C-(i)      D-(iii) done clear
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• question_answer35)
  The main issue(s) with protectionist or trade restrictive policies is/are .........
  A)
  There is very less incentive for the domestic producers to improve the quality of their products done clear
  B)
  Consumer sovereignty narrows down done clear
  C)
  Both (a) and (b) done clear
  D)
  It result in huge amount of capital inflows done clear
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