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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

Correct answer

B. The Prime Minister of India

Explanation

The correct answer is 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.

Option A, the President, is the constitutional head of the Union but has no role in this executive body. Option C, the Union Finance Minister, may serve as an ex officio member drawn from the Council of Ministers, but does not chair the institution. Option D, the Governor of the Reserve Bank, heads the central bank and its monetary work and is unconnected with NITI Aayog. Remember that the working head of the body is the vice-chairperson, while the administrative head is a chief executive officer of the rank of secretary.

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.