Who was the first Deputy Chairman of the Planning Commission of India?
- A.Vallabhbhai Jhaverbhai Patel
- B.Gulzarilal Nanda
- C.KC Neogy
- D.Jawaharlal Nehru
Correct answer
Explanation
The correct answer is B, Gulzarilal Nanda. Gulzarilal Nanda became the first Deputy Chairman when the Planning Commission began work in 1950, and he later became interim Prime Minister twice, in 1964 and 1966. The Planning Commission was set up by a Cabinet resolution on 15 March 1950 with the Prime Minister as its ex-officio Chairman; it was neither a constitutional nor a statutory body. Nanda was also Union Planning Minister and received the Bharat Ratna in 1997. The Commission was replaced by NITI Aayog on 1 January 2015. A is wrong because Sardar Patel was Deputy Prime Minister and Home Minister and never served on the Planning Commission. C is wrong because K.C. Neogy headed the first Finance Commission in 1951. D is wrong because Nehru was the Chairman of the Planning Commission as Prime Minister, not its Deputy Chairman. Exam tip: Planning Commission 1950, Chairman = Prime Minister, first Deputy Chairman = Gulzarilal Nanda; NITI Aayog replaced it on 1 January 2015.
Practice Questions
View allAccording to the law of diminishing marginal utility, as the amount of a good consumed increases, the marginal utility of that good tends to
- A.improve
- B.diminish
- C.remain constant
- D.first diminish and then improve
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Each extra unit of a good gives a consumer less additional satisfaction than the unit before it, so marginal utility falls as consumption rises.
Read the full explanation →Consider the following statements about impact of tax : 1. A tax is shifted forward to consumers if the demand is inelastic relative to supply. 2. A tax is shifted backward to producers if the supply is relatively more inelastic than demand. Which of the statements given above is/are correct?
- A.1 only
- B.2 only
- C.Both 1 and 2
- D.Neither 1 nor 2
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The burden of a tax falls more heavily on whichever side of the market is less elastic, the side that cannot easily walk away.
Read the full explanation →UBI, as an alternative for subsidies in poverty alleviation, stands for
- A.Union Basic Income
- B.Undefined Basic Income
- C.Unconditional Basic Income
- D.Universal Basic Income
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UBI is the idea of paying every citizen a fixed sum of money regularly, without conditions, in place of a large number of separate subsidies and welfare schemes.
Read the full explanation →Who among the following is the Chairman of the Fourteenth Finance Commission?
- A.C. Rangarajan
- B.Vijay Kelkar
- C.Y. V. Reddy
- D.Rakesh Mohan
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The Fourteenth Finance Commission, set up in 2013 for the award period 2015-2020, was chaired by Y. V. Reddy, a former Governor of the Reserve Bank of India.
Read the full explanation →Why was constitutional amendment needed for introducing GST?
- A.States were not willing to agree with the Union for introduction of GST without amendment in the Constitution.
- B.GST was to be implemented on concurrent base and Article 246 was inadequate for such a case.
- C.The Empowered Committee of Finance Ministers had recommended for constitutional amendment.
- D.The GST Council had recommended for constitutional amendment so that its power enhances.
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GST is levied by the Union and the States together on the same supply, and Article 246, which splits taxing powers between them through separate lists, did not allow such a concurrent tax.
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