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GK questions and answers on Indian Economy: Economic Planning in India

Hemant Singh

The first five year plan of India was launched in 1951. Since then 12 year plan have been launched in India. This set of 10 quizzes is based on the economic planning in India. This quiz will be helpful for the aspirants of the competitive exams like UPSC/PCS/SSC/CDS etc.

1. What is the type of Indian economy?

(a) Socialist

(b) communist

(c) Capitalist

(d) Mixed

Ans. d

Explanation: The planners of Indian Economy adopted the concept of mixed economy. A mixed economy is consists of private and public sectors.

2. Which of the following statement is not correct about 'Bombay Plan'?

(a) The Bombay Plan is also called the 'Tata Bidla Plan'

(b) It was started in 1944

(c) Its draft was prepared by the John Mathai

(d) There were 10 members in this plan

Ans. c

Explanation: There were total 8 members in the Bombay plan i.e.J.R.D. Tata, Ghanshyamadas Birla, Kasturbhai Lalbhai, Sir Purushottamdas Thakurdas, Sir Shriram,Sir ardishar Dalal, A.D. Shroff and Dr. John Mathai.

3. When was 'Gandhian plan' started?

(a) 1944

(b) 1952

(c) 1934

(d) 1948

Ans. a

Explanation: 'Gandhian plan' was inspired by the economic thoughts of the Mahatma Gandhi. It was constructed by the Sri man Narayan in 1944.

4. Who was the author of the Book 'Planned Economy of India'?

(a) M. Visvesvaraya

(b) Dada Bhai Nairobi

(c) Bhim Rao Ambedkar

(d) Jawaharlal Nehru

Ans. a

Explanation: Mokshagundam Visvesvaraya, was Diwan of Mysore from 1912 to 1918. He received India's highest honour, the Bharat Ratna, in 1955.He wrote a book "Planned Economy for India" in 1934.

5. Which of the following is not matched correctly?

(a) First Five Year Plan: 1951-56

(b) Third Five Year Plan: 1961-66

(c) Seventh Five Year Plan:1980-85

(d) Tenth Five Year Plan: 2002-07

Ans. c

Explanation: Seventh Five Year Plan was launched during the period of 1985 to 1990.This plan was started by Rajiv Gandhi government when Dr. Manmohan Singh was Deputy Chairman of planning commission.

6. Which of the following statements is not correct?

(a) There is no constitutional provision in India about the Planning Commission

(b) Planning commission was established in January 1951

(c) National Development Council was established in August 1952

(d) Jawaharlal Nehru, was the first chairman of the Planning Commission

Ans. b

Explanation: National Development Council was established on 15 March 1950.In his first Independence Day speech in 2014, Prime Minister Modi announced his intention to dissolve the Planning Commission. It has since been replaced by a new institution named NITI Aayog.

7. Which of the following statements is not correct?

(a) The first five year plan was launched from 1st April, 1951

(b) Dr. Rajendra Prasad was the first chairman of the Planning Commission of India

(c) The National Development Council used to give final approval to the Five Year Plan

(d) The first five year plan was based on the Harrod- Domar model

Ans. b

Explanation: Prime Minister of India is the ex-officio chairman of the planning commission, so Jawahar Lal Nehru was the first chairman of the planning commission of India.

8. Who is the current Chief Executive Officer of the NITI Aayog of India?

(a) Dr. Rajiv Kumar

(b) Shri Amitabh Kant

(c) Prof. Ramesh Chand

(d) Shri Bibek Debroy

Answer. b

Explanation: Current Chief Executive Officer of the NITI Aayog of India is Shri Amitabh Kant. Currently NITI Aayog has four full time members.

9. Who started the 'Gandhian Plan'?

(a) Jawaharlal Nehru

(b) Dadabhai Naoroji

(c) M.N. Roy

(d) None of the above

Ans. d

Explanation: Gandhian Plan was put forward by Shriman Narayan Aggarwal in 1944; who was the principal of Wardha Commercial College.

10. Which of the following is a constitutional body?

(a) National Development Council

(b) NITI Aayog

(c) Finance Commission

(d) None of the above

Ans. c

Explanation: Except Finance Commission; none of the body is a constitutional because others all bodies are established after an act of the Parliament.

500+ GK Questions & Answers on Indian Economy

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