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Indian Economy

1. Union Budget of India is presented by whom and in which house/ houses of the Parliament?

  1. Finance Minister of India; Lok Sabha
  2. Prime Minister of India; Rajya Sabha
  3. Cabinet Secretary; Both Lok Sabha and Rajya Sabha
  4. President of India; in joint session of Parliamnet

Answer: a

2. Who among the following presented Union Budget maximum number of times?

  1. P. Chidambaram
  2. R K Shanmukham Chetty
  3. Pranav Mukherjee
  4. Morarji Desai

Answer: d

3. Who among the following presented the first budget (interim) of Independent India?

  1. Manmohan Singh
  2. Jawaharlal Nehru
  3. R K Shanmukham Chetty
  4. N.D. Tiwari

Answer: c

4. What is the type of Indian economy?

  1. Socialist
  2. communist
  3. Capitalist
  4. Mixed

Answer: d

5. Which of the following statement is not correct about 'Bombay Plan'?

  1. The Bombay Plan is also called the 'Tata Bidla Plan'
  2. It was started in 1944
  3. Its draft was prepared by the John Mathai
  4. There were 10 members in this plan

Answer: c

6. When was 'Gandhian plan' started?

  1. 1944
  2. 1952
  3. 1934
  4. 1948

Answer: a

7. Who was the author of the Book 'Planned Economy of India'?

  1. M. Visvesvaraya
  2. Dada Bhai Nairobi
  3. Bhim Rao Ambedkar
  4. Jawaharlal Nehru

Answer: a

8. Which of the following is not matched correctly?

  1. First Five Year Plan: 1951-56
  2. Third Five Year Plan: 1961-66
  3. Seventh Five Year Plan:1980-85
  4. Tenth Five Year Plan: 2002-07

Answer: c

9. Which of the following statements is not correct?

  1. There is no constitutional provision in India about the Planning Commission
  2. Planning commission was established in January 1951
  3. National Development Council was established in August 1952
  4. Jawaharlal Nehru, was the first chairman of the Planning Commission

Answer: b

10. Which of the following statements is not correct?

  1. The first five year plan was launched from 1st April, 1951
  2. Dr. Rajendra Prasad was the first chairman of the Planning Commission of India
  3. The National Development Council used to give final approval to the Five Year Plan
  4. The first five year plan was based on the Harrod- Domar model

Answer: b

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