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Indian Economics > Five Year Plans In India > Flashcards

Five Year Plans In India Flashcards

Need of planning in India after independence, it's goals , objective and achievements

1
Q

Utilisation of countries resources in different development activities in accordance with national priorities is called

A

Economic planning

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2
Q

In which year was Planning Commission set up ?

A

1950

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3
Q

Who was the chairman of planning commission ?

A

Pandit Jawaharlal Nehru

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4
Q

Planning commission was replaced by ?

A

NITI Aayogaa

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5
Q

In which year was planning commission changed to NITI Aayog

A

January 2015

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6
Q

Role of NITI Aayog is ?

A

Suggest policies to accelerate the pace of GDP Growth

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7
Q

Planning that covers both social and economic spheres of growth is termed as ?

A

Comprehensive planning

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8
Q

Long term plans are termed as ?

A

Perspective plan

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9
Q

What are the key examples of Economic spheres of planning

A

Agriculture, industry ,trade , transportation

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10
Q

Example of social spheres are ?

A

Education , health , housing

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11
Q

Five year plan was introduced and lasted till

A

1951 - 2012

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12
Q

One annual plan was introduced in and lasted till ?

A

April 1 , 1979 - 31 March 1980

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13
Q

Three annual plan was introduced and lasted till ?

A

April 1 - 1966 - 31 March ,1969

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14
Q

Two annual plan was introduced in and lasted till?

A

April 1 - 1990 - 31 March 1992

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15
Q

Economic System Consists of ?

A

1) system of production
2) system of resource allocation
3) system of distribution of goods and services in the economy

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16
Q

Who is the architect of Indian Planning ?

A

Prashant Chandra Mahalanobis

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17
Q

Who is the architect of Indian Planning ?

A

Prashant Chandra Mahalanobis

18
Q

He landmark contribution to Indian Planning in which five yr plan ?

A

During Second five year plan

19
Q

When Government of a country does not interfere in the market forces of supply and demand it is called ?

A

Free play of Market Forces

20
Q

What are the types of economic System

A

Social economy , Capitalist Economy , Mixed economy

21
Q

Three system of economy are differenciated on the basis of what ?

A

Degree of freedom of the market forces

22
Q

When five year plans were launched , india opted for which system of economy

A

Mixed Economy

23
Q

Other name of Market economy is ?

A

Capitalist Economy

24
Q

Indentity the type of economy

Means of production are owned by individuals and individual are free to take economic decision

A

Capitalist Economy

25
Q

Indentity the type of economy

Where the main motive is profit maximization

A

Capitalist Economy

26
Q

When can we say that social justice is achieved ?

A

When there is EQUITABLE DISTRIBUTION OF INCOME AND WEALTH

27
Q

Indentity the type of economy

Where the means of production and economic decisions are made by some central authority

A

Socialist economy

28
Q

Indentity the type of economy where social justice is prevailed

A

Socialist economy

29
Q

Indentity the type of economy

Production decisions are governed by the principal of profit maximization , but nt without checks and balances of social justice

A

Mixed economy

30
Q

Indentity the type of economy where the government sector is often inflicted with corruption

A

Mixed economy

31
Q

Industrial policy resolution was in which year

A

1948

32
Q

When the increase in the flow of goods and services

Is consistent over a long period of time it is called

A

Economic growth

33
Q

Increase in GDP depends upon what factors ?

A
  • increase in resource base of our country

- increase in productivity through innovative technology

34
Q

What are the four goals of planning in india

A
  • Increase in GDP GROWTH
  • MODERNISATION - updating and adoption of modern technology in the process of growth
  • self reliance and self sufficiency
  • Equitable Distribution
35
Q

The state of non dependence on the rest of the world for the financial resources is called ?

The state of non dependence on the rest of the world
For the essential supplies in the domestic eco is termed as ?

A

Self reliance

Self sufficiency

36
Q

India was pestered to end war with Pakistan for favour of food grain supplies from USA in which year

A

1965

37
Q

Prior to planning,national income in India was increased at which rate ?
By the end of seventh plan it was recorded

A

O.5 % per annum

5.8%

38
Q

By the end of which yr indian eco had achieved the recognition of the emerging industrial economy

A

1990

39
Q

In which year economic infrastructure had recorded a significant growth

A

1950 - 1990

40
Q

international trade showed a growth in ?yr

A

1950 - 1991

Indian Economics (3 decks)

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