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Indian EconomyHardAsked in: NDA · NDA-I 2026, GAT

Consider the following statements: I. The Second Five-Year Plan sought to promote development which would establish socialistic pattern of society in India. II. Between 1966 and 1969, three Annual Plans were formulated. III. The Ninth Five-Year Plan could not take off at its stipulated time in the 60th year of India's Independence. Which of the statements given above are correct?

  1. A.I and II only
  2. B.I and III only
  3. C.II and III only
  4. D.I, II and III

Correct answer

A. I and II only

Explanation

The correct answer is A, I and II only. Statements I and II are true, but the Ninth Plan began in 1997, the fiftieth year of Independence, not the sixtieth.

In December 1954 Parliament accepted the "socialistic pattern of society" as the goal of policy, and the Second Five-Year Plan (1956-61), built on the Mahalanobis model, aimed at it through rapid industrialisation with a large public sector. After the Third Plan was disrupted by the wars of 1962 and 1965 and by droughts, the Fourth Plan was put off and three Annual Plans were made for 1966-67, 1967-68 and 1968-69, a phase called the "plan holiday". The Ninth Plan covered 1997-2002 and opened in the fiftieth year of Independence; the plan that began in the sixtieth year was the Eleventh (2007-12).

B is wrong because it includes the false statement III and leaves out II. C is wrong because it includes statement III. D is wrong because statement III is not correct.

Exam tip: Second Plan 1956-61 (Mahalanobis, socialistic pattern), plan holiday 1966-69, Ninth Plan 1997-2002 in the fiftieth year of Independence.

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Q2.Indian EconomyAsked in: CDS · CDS-II 2024, GKEasy

Which of the following is not included in the Capital Account of the Balance of Payments of a country?

  1. A.Foreign Direct Investment
  2. B.Commercial Borrowing
  3. C.Invisibles
  4. D.External Assistance
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Correct answer: C. Invisibles

Invisibles are part of the current account of the balance of payments, not the capital account. The balance of payments records all of a country's transactions with the rest of the world and has two main parts.

Q3.Indian EconomyAsked in: CDS · CDS-II 2024, GKEasy

Which one among the following was the focus of the Twelfth Five-Year Plan?

  1. A.Sustainable and Inclusive Growth
  2. B.Social Justice and Equality
  3. C.Food, Work and Productivity
  4. D.Attainment of Self-reliance
Show answer
Correct answer: A. Sustainable and Inclusive Growth

The Twelfth Five-Year Plan (2012-17) had the theme "Faster, More Inclusive and Sustainable Growth". It continued the inclusive-growth idea of the Eleventh Plan (2007-12), whose theme was "Towards Faster and More Inclusive Growth", and added sustainability as a stated goal.

Q4.Indian EconomyAsked in: NDA · NDA-II 2018, GATEasy

The Nehru-Mahalanobis Strategy of Development was implemented for the first time by which one of the following Five-Year Plans?

  1. A.First Five-Year Plan
  2. B.Second Five-Year Plan
  3. C.Third Five-Year Plan
  4. D.Seventh Five-Year Plan
Show answer
Correct answer: B. Second Five-Year Plan

The Second Plan (1956–61) was built on the model prepared by the statistician P. C. Mahalanobis, which gave priority to heavy and basic industries.