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Indian EconomyMedium

The slogan Garibi Hatao, the removal of poverty, is associated with which Five Year Plan?

  1. A.Third Plan
  2. B.Fourth Plan
  3. C.Fifth Plan
  4. D.Sixth Plan

Correct answer

C. Fifth Plan

Explanation

The correct answer is C, the Fifth Plan. Running from 1974 to 1979, it took the removal of poverty and the attainment of self-reliance as its twin objectives, and it is remembered by the slogan Garibi Hatao. It was terminated a year ahead of schedule in 1978 and a rolling plan was introduced in its place.

Option A, the Third Plan, aimed at a self-reliant and self-generating economy and ended in the plan holiday. Option B, the Fourth Plan, is remembered for the phrase growth with stability and for the nationalisation of major banks in 1969. Option D, the Sixth Plan, continued the attack on poverty and began the move away from rigid controls, which is why it is offered here. Learning one phrase for each plan is the quickest way to clear this family of questions.

Read the full article: Planning in India and NITI Aayog: Plans, Models and Bodies

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Q2.Indian EconomyEasy

NITI Aayog came into existence on which date?

  1. A.1 January 2015
  2. B.15 March 2014
  3. C.1 April 2016
  4. D.26 January 2015
Show answer
Correct answer: A. 1 January 2015

On that date a cabinet resolution created the National Institution for Transforming India in place of the Planning Commission, keeping the Prime Minister as the head of the new body but changing its work from allocating funds to advising governments.

Q3.Indian EconomyMedium

The Second Five Year Plan of India was based on the model given by

  1. A.P. C. Mahalanobis
  2. B.Harrod and Domar
  3. C.M. Visvesvaraya
  4. D.V. K. R. V. Rao
Show answer
Correct answer: A. P. C. Mahalanobis

The statistician who founded the Indian Statistical Institute gave the Second Plan its framework, in which investment was directed towards heavy and basic industries such as steel, machinery and power on the argument that they would build the capacity to produce everything else.

Q5.Indian EconomyEasy

Who is the chairperson of NITI Aayog?

  1. A.The President of India
  2. B.The Prime Minister of India
  3. C.The Union Finance Minister
  4. D.The Governor of the Reserve Bank of India
Show answer
Correct answer: B. The Prime Minister of India

The office of Prime Minister carries the chairmanship of NITI Aayog, exactly as it carried the chairmanship of the Planning Commission before 2015 and as it carries the chairmanship of the Governing Council and of the National Development Council.