NATURE OF INDIAN ECONOMY MCQS SET 14

NATURE OF INDIAN ECONOMY MCQS SET 14

131) For internal financing of Five Year Plans, the government depends on:
A) taxation only
B) taxation and public borrowing
C) public borrowing and deficit financing
D) taxation, public borrowing and deficit financing
Correct Answer: taxation only
   
132) The National Development Council gets its administrative support from:
A) Planning Commission
B) Administrative Reforms Commission
C) Sarkaria Commission
D) Finance Commission
Correct Answer: Planning Commission
   
133) The Five Year Plans of India intend to develop the country industrially through:
A) the public sector
B) the private sector
C) the public, private, joint and Cooperative sectors
D) increasing collaboration with non-resident Indians
Correct Answer: the public, private, joint and Cooperative sectors
   
134) The Planning Commission is:
A) a Ministry
B) a Government department
C) an Advisory body
D) an Autonomous Corporation
Correct Answer: an Advisory body
   
135) A tax the burden of which increases as income increases is called:
A) Regressive Tax
B) Income Tax
C) Higher Tax
D) Progressive Tax
Correct Answer: Progressive Tax

136) Which of the following statements is correct?
A) Planning Commission is a constitutional body
B) The Prime Minister is the Chairman of the Planning Commission
C) The Minister of Planning is always necessarily the Deputy Chairman of Planning Commission
D) The draft plan is prepared by the National Development Council
Correct Answer: The Prime Minister is the Chairman of the Planning Commission
   
137) The principal reason why national economic planning is still being pursued in spite of embracing a market economy since 1991 is that:
A) the vast quantity of capital already deployed in the public sector needs to be nurtured
B) the market economy is mainly confined to industry and commerce and central planning in agriculture is necessary
C) it is a constitutional requirement
D) Five Year Plans can continue to provide a long-term perspective to the economy in market friendly fashions
Correct Answer: Five Year Plans can continue to provide a long-term perspective to the economy in market friendly fashions
   
138) “Take off stage' in an economy means:
A) steady growth begins
B) economy is stagnant
C) economy is about to collapse
D) all controls are removed
Correct Answer: steady growth begins
   
139) Planning in India derives its objective from:
A) Fundamental Rights
B) Directive Principles of State policy
C) Fundamental Duties
D) Preamble
Correct Answer: Directive Principles of State policy
 
140) More than 65% of working population of India is engaged in:
A) public sector
B) primary sector
C) secondary sector
D) tertiary sector
Correct Answer: primary sector