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Question 1 of 5
1. Question
Consider the following statements.
- The first Five Year Plan was based on the ideas of Mahalanobis, which laid down the basic ideas regarding goals of Indian planning.
- The Second Five Year Plan tried to build the basis for a socialist pattern of society.
- In the first seven five-year plans, trade was characterised by import substitution strategy.
Which of the above statements is/are correct?
Correct
Solution: c)
- Planning, in the real sense of the term, began with the Second Five Year Plan. The Second Plan, a landmark contribution to development planning in general, laid down the basic ideas regarding goals of Indian planning; this plan was based on the ideas of Mahalanobis. In that sense, he can be regarded as the architect of Indian planning.
- Industrial Policy Resolution 1956 (IPR 1956): In accordance with the goal of the state controlling the commanding heights of the economy, the Industrial Policy Resolution of 1956 was adopted. This resolution formed the basis of the Second Five Year Plan, the plan which tried to build the basis for a socialist pattern of society.
- In the first seven plans, trade was characterised by what is commonly called an inward-looking trade strategy. Technically, this strategy is called import substitution. This policy aimed at replacing or substituting imports with domestic production.
Incorrect
Solution: c)
- Planning, in the real sense of the term, began with the Second Five Year Plan. The Second Plan, a landmark contribution to development planning in general, laid down the basic ideas regarding goals of Indian planning; this plan was based on the ideas of Mahalanobis. In that sense, he can be regarded as the architect of Indian planning.
- Industrial Policy Resolution 1956 (IPR 1956): In accordance with the goal of the state controlling the commanding heights of the economy, the Industrial Policy Resolution of 1956 was adopted. This resolution formed the basis of the Second Five Year Plan, the plan which tried to build the basis for a socialist pattern of society.
- In the first seven plans, trade was characterised by what is commonly called an inward-looking trade strategy. Technically, this strategy is called import substitution. This policy aimed at replacing or substituting imports with domestic production.
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Question 2 of 5
2. Question
Which of the following were the goals of the planning system in India between 1950-1990?
- Export promotion
- Industrialization
- Self-reliance
- Equity
Select the correct answer code:
Correct
Solution: a)
All the above are the goals of the planning system in India between 1950-1990.
Incorrect
Solution: a)
All the above are the goals of the planning system in India between 1950-1990.
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Question 3 of 5
3. Question
Consider the following statements regarding First Five-year Plan (FYP).
- The First Five Year Plan choose heavy industries as the “prime moving force” of the economy.
- The University Grants Commission (UGC) was set up at the end of the plan period.
- The First Five Year Plan was followed by the Bombay Plan which became the basis of the Second Five Year Plan in India.
Which of the above statements is/are correct?
Correct
Solution: b)
The First Five-year Plan was launched in 1951 which mainly focused in development of the primary sector. It was the second FYP that chose heavy industries as the Central plank of development planning.
At the end of the plan period in 1956, five IITs were started as major technical institutions. The University Grants Commission (UGC) was set up to take care of funding and take measures to strengthen the higher education in the country.
The Bombay Plan is the name commonly given to a World War II-era set of proposals. It was published in 1944/1945.
Incorrect
Solution: b)
The First Five-year Plan was launched in 1951 which mainly focused in development of the primary sector. It was the second FYP that chose heavy industries as the Central plank of development planning.
At the end of the plan period in 1956, five IITs were started as major technical institutions. The University Grants Commission (UGC) was set up to take care of funding and take measures to strengthen the higher education in the country.
The Bombay Plan is the name commonly given to a World War II-era set of proposals. It was published in 1944/1945.
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Question 4 of 5
4. Question
Consider the following pairs regarding the idea of planning in India.
- Visvesvaraya Plan – Focus on shifting the labour from industrial sector to agriculture sector.
- Gandhian Plan – Emphasis on cottage and village level industries.
- Bombay Plan – Emphasised on the development of essential consumer goods industries in India.
Which of the above pairs is/are correctly matched?
Correct
Solution: c)
In 1934, Sir M. Visvesvaraya had published a book titled “Planned Economy in India”, in which he presented a constructive draft of the development of India in next ten years. His core idea was to lay out a plan to shift labour from agriculture to industries and double up National income in ten years.
In the light of the basic principles of Gandhian economics, S. N. Agarwal authored ‘The Gandhian Plan’ in 1944 in which he put emphasis on the expansion of small unit production and agriculture. Its fundamental feature was decentralisation of economic structure with self-contained villages and cottage industries.
The Bombay Plan emphasizes the importance of basic industries, but also calls for the development of consumption goods industries in the early years of the plan.
Incorrect
Solution: c)
In 1934, Sir M. Visvesvaraya had published a book titled “Planned Economy in India”, in which he presented a constructive draft of the development of India in next ten years. His core idea was to lay out a plan to shift labour from agriculture to industries and double up National income in ten years.
In the light of the basic principles of Gandhian economics, S. N. Agarwal authored ‘The Gandhian Plan’ in 1944 in which he put emphasis on the expansion of small unit production and agriculture. Its fundamental feature was decentralisation of economic structure with self-contained villages and cottage industries.
The Bombay Plan emphasizes the importance of basic industries, but also calls for the development of consumption goods industries in the early years of the plan.
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Question 5 of 5
5. Question
Consider the following statements regarding Gandhian Plan.
- Gandhian Plan was economic planning formulated by Mahatma Gandhi before independence.
- The plan articulated a ‘decentralised economic structure’ for India with ‘self-contained villages’.
- The plan laid more emphasis on agriculture.
Which of the above statements is/are correct?
Correct
Solution: d)
Espousing the spirit of the Gandhian economic thinking, S.N. Agarwal formulated The Gandhian Plan in 1944. The plan laid more emphasis on agriculture. Even if he referred to industrialisation, it was to the level of promoting cottage and village-level industries. The plan articulated a ‘decentralised economic structure’ for India with ‘self-contained villages’.
Incorrect
Solution: d)
Espousing the spirit of the Gandhian economic thinking, S.N. Agarwal formulated The Gandhian Plan in 1944. The plan laid more emphasis on agriculture. Even if he referred to industrialisation, it was to the level of promoting cottage and village-level industries. The plan articulated a ‘decentralised economic structure’ for India with ‘self-contained villages’.
