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MCQ on Indian Economy

First Five Year Plan started in India in the year?

  • 1952
  • 1956
  • 1950
  • 1951
  • Correct Option: D  [ 1951 ]

    Remark: 1951-56

'Economic Survey' is published by:

  • The Ministry of Finance
  • The Planning Commission
  • The Government of India
  • The Central Statistical Organization
  • Correct Option: A  [ The Ministry of Finance ]


Find out the statement which is false.
Financial Structural reform needs

  • fall in government budget deficit
  • increase in profitability of economic sectors
  • reduce inflationary pressure
  • increase in the balance of payment deficit
  • Correct Option: D  [ increase in the balance of payment deficit ]


Planning Commission of India was set up by :

  • Morarji Desai
  • T T Krishnamachari
  • Jawaharlal Nehru
  • None of the above
  • Correct Option: C  [ Jawaharlal Nehru ]


New Industrial Policy of India was introduced in the year:

  • 1990
  • 1991
  • 1992
  • 1993
  • Correct Option: B  [ 1991 ]


About Deendayal Antyodaya Yojana (DAY) which of the following is not correct ?

  • It focuses on both the rural and urban areas
  • It aims at skill development.
  • It is a State Government's scheme
  • It has replaced Ajeevika
  • Correct Option: C  [ It is a State Government's scheme ]


Which prograrnme gave the slogan, Garibi Hatao ?

  • 4th Five Year Plan
  • 5th Five year plan
  • 6th Five Year Plan
  • 7th Five year plan
  • Correct Option: B  [ 5th Five year plan ]


NPA of a commercial bank means:

  • Net-Performing Asset
  • New-Performing Asset
  • Non-Personal Account
  • Non-Performing Asset
  • Correct Option: D  [ Non-Performing Asset ]

    Remark: A non performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue for long period.

Which among the following in India has the function of recommending Minimum Support Prices for various commodities to the Government ?

  • National Farmers Commission
  • Commission for Agricultural Costs and Prices
  • Central Statistical organization
  • Department of Agriculture
  • Correct Option: B  [ Commission for Agricultural Costs and Prices ]


The growth of per capita income of current prices is higher than that of per capita income at constant prices because the later takes into account the rate of

  • growth of population
  • increase in price level
  • growth of money supply
  • increase in the wage rate
  • Correct Option: B  [ increase in price level ]