Poverty, Planning, Finance and Economic/Social Development (Part-I)

Total Questions: 50

11. Economic Survey in India is published officially, every year by the: [1998]

(a) Reserve Bank of India
(b) Planning Commission of India
(c) Ministry of Finance, Govt. of India
(d) Ministry of Industries, Govt. of India

Correct Answer: (c) Ministry of Finance, Govt. of India

Solution:Economy Survey in India is published officially, every year by the Ministry of Finance, Govt. of India. and issued before the annual budget. It reviews the development in the Indian economy over the previous 12 months.

12. Which one of the following regions of the world supplies the maximum of our imported commodities (in terms of rupee value)? [1998]

(a) Africa
(b) America
(c) Asia and Oceania
(d) Europe

Correct Answer: (d) Europe

Solution:India imported most of their commodities from Asia and Oceania.

13. The planning process is the industries sector in India has assumed a relatively less important position in the nineties as compared to that in the earlier period. Which one of the following is not true in this regard? [1999]

(a) With the advent of liberalisation, industrial investment development have largely been placed within the domain of private and multinational sectors
(b) With market assuming a central place, the role of central planning in many sectors has been rendered redundant
(c) The focus of planning has shifted to sectors like human resource
(d) The nation's priorities have shifted away from industrial development to rural development

Correct Answer: (d) The nation's priorities have shifted away from industrial development to rural development

Solution:Statement (a), (b) and (c) are true which explain the declining important position of industries sector after nineties in the planning process.

14. Which one of the following is the objective of National Renewal Fund? [1999]

(a) To safeguard the interests of workers who may be affected by technological upgradation of industry or closure of sick units
(b) To develop the core sector of the economy
(c) For the development of infrastructure such as energy, transport communications and irrigation
(d) For human resource development such as full literacy, employment population control, housing and drinking water

Correct Answer: (a) To safeguard the interests of workers who may be affected by technological upgradation of industry or closure of sick units

Solution:The concept of the National Renewal Fund was announced by the Government as a part of the New Industrial Policy, 1991. The Government established the National Renewal Fund (NRF) by a Government of India resolution on 3rd February, 1992.

15. The Employment Assurance Scheme envisages financial assistance to rural areas for guaranteeing employment to at least: [1999]

(a) 50 percent of the men and women seeking jobs in rural areas.
(b) 50 percent of the men seeking jobs in rural areas.
(c) one man and one woman in a rural family living below the poverty line.
(d) one person in a rural landless household living below the poverty line.

Correct Answer: (c) one man and one woman in a rural family living below the poverty line.

Solution:Employment Assurance scheme was launched on 2nd October, 1993. It is open to all adult rural poor who are in need of wage employment.

A maximum of two adults per family would be provided wage employment, when there is demand during lean agricultural season, subject to availability of funds.

16. A rise in 'SENSEX' means: [2000]

(a) a rise in prices of shares of all companies registered with Bombay Stock Exchange
(b) a rise in prices of shares of all companies registered with National Stock Exchange
(c) an overall rise in prices of shares of group up companies registered with Bombay Stock Exchange
(d) a rise in prices of shares of all companies belonging to a group of companies registered with Bombay Stock Exchange

Correct Answer: (c) an overall rise in prices of shares of group up companies registered with Bombay Stock Exchange

Solution:Increase in Sensex reflects the overall mood of the economy. A rise in it means that investors and FIIs are positive about the growth of Indian economy and expect that it will be sustained in future.

17. Assertion (A): The rate of growth of India's exports has shown an appreciable increase after 1991. [2000]

Reason (R): The Govt. of India has resorted to devaluation

(a) Both A & R are true & R is the correct explanation of A
(b) Both A & R are true but R is not a correct explanation of A
(c) A is true but R is false
(d) A is false but R is true

Correct Answer: (a) Both A & R are true & R is the correct explanation of A

Solution:Devaluation of currency is conscious decision taken by Central bank of country to lower the external value of domestic currency. As a result of this Indian goods become cheaper for Foreigners. Import decrease and exports increases.

18. Match List I with List II and select the correct answer using the codes given below the lists: [2000]

List-I	List-II
A. UN Development Programme	1. UN India Human Development Report
B. National Council	2. India Development of Applied Economic Report Research
C. Indira Gandhi	3. World Development Institute of Research Development Research
D. World Bank	4. Human Development Report

Codes:

	A	B	C	D
(a)	1	2	3	4
(b)	4	2	1	3
(c)	2	3	4	1
(d)	2	1	4	3

Correct Answer: (a)

Solution:UN Development programme brings out UN India Human Development Report. National council of Applied Economic Research brings out India Development Report. Human Development Report is bring out by world Bank. World Development Research is carried out by Indira Gandhi Institute of Development Research.

19. "...instil into the vast millions of workers, men and women, who actually do the job, a sense of partnership and of cooperative performance..." The above passage relates to: [2000]

(a) Planned Development
(b) Community Development
(c) Panchayati Raj System
(d) Integrated Development Programme

Correct Answer: (b) Community Development

Solution:Community Development is a process where community members come together to take collective action and generate solutions to common problems. It seeks to empower individuals and groups of people with the skills they need to effect change within their communities.

20. Economic liberalisation in India started with: [2000]

(a) substantial changes in industrial licensing policy.
(b) the convertibility of Indian rupee.
(c) doing away with procedural formalities for foreign direct investment.
(d) significant reduction in tax rates.

Correct Answer: (a) substantial changes in industrial licensing policy.

Solution:Economic liberalization in India started with industrial de-licensing.

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