Which among the following statements with regard to Five Year Plans in India is/are correct? 1. The First and Ninth five year plans accorded high priority to agriculture 2. The Third Plan was based on the Harrod-Domar Model 3. Seventh Plan focused on food, work and productivity 4. The Ninth five year plan emphasized on massive investments in public sector Select the answer using the code given below:
- A.1 only
- B.1 and 3
- C.3 and 4
- D.1,2 and 4
Correct answer
Explanation
The correct answer is B, 1 and 3. The First and Ninth Plans gave top priority to agriculture, and the Seventh Plan's slogan was food, work and productivity.
The First Plan (1951–56) put agriculture, irrigation and power first to deal with food shortages after Partition. The Ninth Plan (1997–2002), titled growth with social justice and equality, gave priority to agriculture and rural development. The Seventh Plan (1985–90), under Rajiv Gandhi, aimed at food, work and productivity.
Statement 2 is wrong because it was the First Plan that drew on the Harrod-Domar model; the Second Plan was built on the Mahalanobis model, and the Third aimed at a self-reliant economy. Statement 4 is wrong because the Ninth Plan came after the 1991 reforms and gave a larger role to the private sector, not massive public investment.
So A leaves out the correct statement 3, C wrongly includes 4, and D wrongly includes 2 and 4.
Exam tip: First Plan – Harrod-Domar, agriculture; Second – Mahalanobis, heavy industry; Seventh – food, work and productivity.
Practice Questions
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- A.Personal Income - Direct taxes paid by households and miscellaneous fees, fines, etc.
- B.Private Income - Saving of Private Corporate Sectors - Corporation Tax
- C.Private Income - Taxes
- D.Total expenditure of Households - Income Tax - Gifts received
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Organization : Union Ministry
I. The National Automotive Board : Ministry of Commerce and Industry
II. The Coir Board : Ministry of Heavy Industries
III. The National Centre for Trade Information : Ministry of Micro, Small and Medium Enterprises
How many of the above pairs are correctly matched?
- A.Only one
- B.Only two
- C.All the three
- D.None
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Each organisation is paired with the wrong ministry. The National Automotive Board works under the Ministry of Heavy Industries; it supports the automobile sector with testing and certification work and helps run schemes for the industry.
Read the full explanation →If the RBI decides to adopt an expansionist monetary policy, which of the following would it not do?
1. Cut and optimize the Statutory Liquidity Ratio
2. Increase the Marginal Standing Facility Rate
3. Cut the Bank Rate and Repo Rate
Select the correct answer using the code given below:
- A.1 and 2 only
- B.2 only
- C.1 and 3 only
- D.1, 2 and 3
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Read the full explanation →Which of the following is/are the aim/aims of "Digital India" Plan of the Government of India?
1. Formation of India's own Internet companies like China did.
2. Establish a policy framework to encourage overseas multinational corporations that collect Big Data to build their large data centres within our national geographical boundaries.
3. Connect many of our villages to the Internet and bring Wi-Fi to many of our schools, public places and major tourist centres.
Select the correct answer using the code given below:
- A.1 and 2 only
- B.3 only
- C.2 and 3 only
- D.1, 2 and 3
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Read the full explanation →With reference to Foreign Direct Investment in India, which one of the following is considered its major characteristic?
- A.It is the investment through capital instruments essentially in a listed company.
- B.It is a largely non-debt creating capital flow.
- C.It is the investment which involves debt-servicing.
- D.It is the investment made by foreign institutional investors in the Government securities.
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Read the full explanation →