Economic Planning in India Quiz

What is the meaning of economic planning?

• Increase in real national income

• Increase in price level

• Removal of inequality

• None of the above

Who are the owners of factors of production?

• Firms and industries

• Households

• Rest of the world

• Government

Which sector used to have a larger share in India's GDP at the time of its independence?

• Industry

• Agriculture

• Services

• None of the above

One of the reasons for inequality in income is:

• Existence of private property

• Lack of equal distribution of wealth

• Both of the above

• None of the above

Liberalization aims at retaining the licensing system. True or False?

• False

• True

Privatization policy will help in enhancing competition in the market. True or False?

• True

• False

Globalization aims at imposing tariff on imported goods. True or False?

• True

• False

During which plan period, the actual growth rate of national income was more than the targeted growth rate?

• Ninth plan

• Eleventh plan

• First plan

• Second plan

The growth rate of per capita income was higher in the beginning of the plan period as compared to the period in the beginning of the 21st century. True or False.

• False

• True

Which strategy did India adopt to achieve the plan target and why?

• Liberalization

• Privatization

• Globalization

• Industrialization