Objectives of Economic Planning in India

Description: This quiz aims to assess your understanding of the objectives of economic planning in India. Economic planning is a deliberate and systematic process of guiding the economy towards desired goals and objectives. In India, economic planning has been an integral part of the country's economic policy since the early days of independence. The objectives of economic planning in India have evolved over time, but they have always been centered around promoting economic growth, social justice, and self-reliance.
Number of Questions: 15
Created by:
Tags: indian economics economic policy and planning in india objectives of economic planning in india
Attempted 0/15 Correct 0 Score 0

What is the primary objective of economic planning in India?

  1. To promote economic growth

  2. To achieve social justice

  3. To ensure self-reliance

  4. To control inflation


Correct Option: A
Explanation:

The primary objective of economic planning in India is to promote economic growth. This means increasing the country's Gross Domestic Product (GDP) and per capita income. Economic growth is essential for improving the living standards of the people and reducing poverty.

Which of the following is not an objective of economic planning in India?

  1. To achieve full employment

  2. To reduce regional disparities

  3. To promote environmental sustainability

  4. To control the population growth


Correct Option: D
Explanation:

Controlling the population growth is not an objective of economic planning in India. The government does have policies and programs aimed at controlling population growth, but these are not part of the economic planning process.

What is the significance of self-reliance in India's economic planning?

  1. It reduces the country's dependence on foreign imports

  2. It promotes domestic industries and creates jobs

  3. It helps India to withstand external economic shocks

  4. All of the above


Correct Option: D
Explanation:

Self-reliance is a key objective of economic planning in India because it reduces the country's dependence on foreign imports, promotes domestic industries and creates jobs, and helps India to withstand external economic shocks.

Which of the following is not a strategy for achieving self-reliance in India?

  1. Promoting import substitution

  2. Encouraging exports

  3. Developing indigenous technology

  4. Liberalizing the economy


Correct Option: D
Explanation:

Liberalizing the economy is not a strategy for achieving self-reliance in India. Liberalization involves reducing government intervention in the economy and opening it up to foreign trade and investment. This can lead to increased dependence on foreign imports and make the economy more vulnerable to external shocks.

How does economic planning in India address the issue of social justice?

  1. By providing subsidies to the poor and vulnerable

  2. By investing in education and healthcare

  3. By promoting employment opportunities for all

  4. All of the above


Correct Option: D
Explanation:

Economic planning in India addresses the issue of social justice by providing subsidies to the poor and vulnerable, investing in education and healthcare, and promoting employment opportunities for all. These measures help to reduce poverty, inequality, and social disparities.

Which of the following is not a challenge to achieving the objectives of economic planning in India?

  1. Rapid population growth

  2. Limited natural resources

  3. Inadequate infrastructure

  4. Political instability


Correct Option: D
Explanation:

Political instability is not a challenge to achieving the objectives of economic planning in India. While political stability is important for economic growth and development, it is not a direct challenge to the economic planning process itself.

What is the role of the Planning Commission in India's economic planning process?

  1. To formulate and implement economic plans

  2. To allocate resources among different sectors of the economy

  3. To monitor and evaluate the progress of economic plans

  4. All of the above


Correct Option: D
Explanation:

The Planning Commission in India plays a crucial role in the economic planning process. It is responsible for formulating and implementing economic plans, allocating resources among different sectors of the economy, and monitoring and evaluating the progress of economic plans.

Which of the following is not a type of economic plan in India?

  1. Five-Year Plans

  2. Annual Plans

  3. Perspective Plans

  4. Rolling Plans


Correct Option: D
Explanation:

Rolling Plans are not a type of economic plan in India. Rolling Plans are used in some countries to update and revise economic plans on a regular basis. However, in India, economic plans are typically formulated for a fixed period of time, such as five years or ten years.

What is the significance of the Five-Year Plans in India's economic planning process?

  1. They provide a long-term vision for the economy

  2. They set specific targets for economic growth and development

  3. They allocate resources among different sectors of the economy

  4. All of the above


Correct Option: D
Explanation:

The Five-Year Plans in India's economic planning process are significant because they provide a long-term vision for the economy, set specific targets for economic growth and development, and allocate resources among different sectors of the economy.

Which of the following is not a major sector of the Indian economy?

  1. Agriculture

  2. Industry

  3. Services

  4. Mining


Correct Option: D
Explanation:

Mining is not a major sector of the Indian economy. While mining does contribute to the country's GDP, it is not as significant as agriculture, industry, and services.

What is the role of the private sector in India's economic planning process?

  1. The private sector is responsible for implementing economic plans

  2. The private sector is consulted during the formulation of economic plans

  3. The private sector is provided with incentives to invest and grow

  4. All of the above


Correct Option: D
Explanation:

The private sector plays an important role in India's economic planning process. The private sector is responsible for implementing economic plans, is consulted during the formulation of economic plans, and is provided with incentives to invest and grow.

Which of the following is not a challenge to achieving the objectives of economic planning in India?

  1. Rapid population growth

  2. Limited natural resources

  3. Inadequate infrastructure

  4. Political instability


Correct Option: D
Explanation:

Political instability is not a challenge to achieving the objectives of economic planning in India. While political stability is important for economic growth and development, it is not a direct challenge to the economic planning process itself.

What is the role of the Planning Commission in India's economic planning process?

  1. To formulate and implement economic plans

  2. To allocate resources among different sectors of the economy

  3. To monitor and evaluate the progress of economic plans

  4. All of the above


Correct Option: D
Explanation:

The Planning Commission in India plays a crucial role in the economic planning process. It is responsible for formulating and implementing economic plans, allocating resources among different sectors of the economy, and monitoring and evaluating the progress of economic plans.

Which of the following is not a type of economic plan in India?

  1. Five-Year Plans

  2. Annual Plans

  3. Perspective Plans

  4. Rolling Plans


Correct Option: D
Explanation:

Rolling Plans are not a type of economic plan in India. Rolling Plans are used in some countries to update and revise economic plans on a regular basis. However, in India, economic plans are typically formulated for a fixed period of time, such as five years or ten years.

What is the significance of the Five-Year Plans in India's economic planning process?

  1. They provide a long-term vision for the economy

  2. They set specific targets for economic growth and development

  3. They allocate resources among different sectors of the economy

  4. All of the above


Correct Option: D
Explanation:

The Five-Year Plans in India's economic planning process are significant because they provide a long-term vision for the economy, set specific targets for economic growth and development, and allocate resources among different sectors of the economy.

- Hide questions