Chapter 4: Planning and NITI Aayog — Online MCQ Test
ECONOMICS · CLASS 12 INTERMEDIATE 2 YEAR · Telangana State Board
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This chapter covers: This chapter covers Indian economic planning objectives five-year plan achievements failures economic reforms post-1991 and NITI Aayog structure functions and role..
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Chapter 4: Planning and NITI Aayog — Important Questions & Answers
What is the main objective of economic planning in India?
- A. To increase only industrial profits
- B. To achieve balanced economic development and welfare
- C. To reduce government role completely
- D. To stop structural changes in the economy
Answer: B. To achieve balanced economic development and welfare
Economic planning aims at planned development, balanced growth, and social welfare. It is not limited to profits or reducing the government's role.
Economic planning aims at planned development, balanced growth, and social welfare. It is not limited to profits or reducing the government's role.
Which institution replaced the Planning Commission of India?
- A. Finance Commission
- B. NITI Aayog
- C. Reserve Bank of India
- D. National Development Council
Answer: B. NITI Aayog
NITI Aayog was set up in place of the Planning Commission in 2015. It works as the policy think tank of the Government of India.
NITI Aayog was set up in place of the Planning Commission in 2015. It works as the policy think tank of the Government of India.
The mixed economy model adopted by India means:
- A. Only the private sector operates
- B. Only the public sector operates
- C. Both public and private sectors coexist
- D. Foreign sector completely controls the economy
Answer: C. Both public and private sectors coexist
A mixed economy allows both public and private sectors to function together. India followed this model after independence.
A mixed economy allows both public and private sectors to function together. India followed this model after independence.
If a state wants to improve its development strategy under the new planning approach, which institution should it primarily engage with for policy support?
- A. NITI Aayog
- B. Election Commission
- C. Supreme Court
- D. Union Public Service Commission
Answer: A. NITI Aayog
NITI Aayog acts as a policy think tank and supports states in development planning. It does not function like a regulatory or judicial body.
NITI Aayog acts as a policy think tank and supports states in development planning. It does not function like a regulatory or judicial body.
Which one of the following statements about NITI Aayog is correct?
- A. It has constitutional status like the Finance Commission
- B. It prepares Five-Year Plans with compulsory targets
- C. It is an advisory institution and a policy think tank
- D. It controls the RBI's monetary policy
Answer: C. It is an advisory institution and a policy think tank
NITI Aayog is not a constitutional body and does not prepare compulsory five-year plans. It functions as an advisory policy think tank.
NITI Aayog is not a constitutional body and does not prepare compulsory five-year plans. It functions as an advisory policy think tank.