81. Which economic model formed the basis of India’s First Five-Year Plan?
a) Harrod-Domar model
b) Mahalanobis model
c) Leontief Input-Output model
d) Adam Smith’s Classical model
Tap here for Answer
Answer: a) Harrod-Domar model Explanation:
The First Five-Year Plan (1951–56) was based on the Harrod-Domar model, which emphasized the role of investment and capital-output ratio in determining growth. The model suggested that higher savings and investment would accelerate GDP growth. India, facing food insecurity and partition trauma, focused on basic irrigation, agriculture, and infrastructure—less flashy, more essential.
82. What was a significant focus of the Second Five-Year Plan in India?
a) Rapid expansion of agriculture
b) Emphasis on consumer goods
c) Development of heavy industries
d) Privatization of public enterprises
Tap here for Answer
Answer: c) Development of heavy industries Explanation:
The Second Plan (1956–61) was all about building the backbone of Indian industry—steel, heavy machinery, capital goods. Inspired by the Soviet model, it aimed at long-term self-sufficiency, assuming that heavy industry would eventually support consumer goods industries. However, consumer needs sometimes had to wait for “long-term vision” to kick in!
83. In the context of Five-Year Plans, the ‘Indicative Planning’ approach primarily implies:
a) Government directly controls prices and production
b) Planning is advisory, not mandatory
c) Only the public sector is planned
d) Planning is restricted to rural sectors
Tap here for Answer
Answer: b) Planning is advisory, not mandatory Explanation: Indicative Planning is non-compulsory and focuses on setting broad economic goals instead of dictating outcomes. It started post-liberalization in the Eighth Plan (1992–97), reflecting the government’s shift from being a controller to a facilitator. It’s like your GPS saying “Recalculating…” but not actually turning the wheel.
84. Which Five-Year Plan aimed at “growth with social justice and equity”?
a) Ninth Plan
b) Eighth Plan
c) Seventh Plan
d) Sixth Plan
Tap here for Answer
Answer: a) Ninth Plan Explanation:
The Ninth Plan (1997–2002) emphasized inclusive growth, attempting to combine the benefits of liberalization with social justice. It focused on agriculture, rural development, and employment. While the economy was speeding, the plan reminded policymakers to pick up those left behind on the road.
85. The term ‘Rolling Plan’ was associated with which of the following periods in India?
a) 1966–69
b) 1978–80
c) 1991–93
d) 2005–07
Tap here for Answer
Answer: b) 1978–80 Explanation:
The Rolling Plan was introduced by Janata government (Morarji Desai) for 1978–83, replacing the traditional 5-year structure. It allowed annual reviews and flexibility, but was abandoned after Indira Gandhi returned to power. Think of it like updating your Netflix watchlist every weekend—ambitious, but hard to keep up!
86. Which institution was responsible for preparing the Five-Year Plans in India until 2014?
a) Finance Commission
b) Reserve Bank of India
c) Planning Commission
d) NITI Aayog
Tap here for Answer
Answer: c) Planning Commission Explanation:
The Planning Commission (1950–2014) was the central body for formulating Five-Year Plans. Headed by the Prime Minister, it was both powerful and controversial. It was eventually replaced by NITI Aayog, which sounded more modern and promised to be less “planning-obsessed.”
87. Which of the following sectors consistently received the highest allocation in Five-Year Plans?
a) Defense
b) Agriculture
c) Social services
d) Energy and transport
Tap here for Answer
Answer: d) Energy and transport Explanation: Energy and transport infrastructure—like roads, power plants, and railways—consistently got highest allocations. After all, how do you grow an economy if trains can’t move and factories have no power? Development needed more than speeches—it needed watts and wheels.
88. Which Five-Year Plan period recorded the highest average GDP growth in India?
a) Tenth Plan
b) Eleventh Plan
c) Twelfth Plan
d) Ninth Plan
Tap here for Answer
Answer: b) Eleventh Plan Explanation:
The Eleventh Plan (2007–12) recorded an average growth of about 7.9%, despite facing the 2008 global financial crisis. It was a golden run for India, thanks to IT boom, rising consumption, and economic reforms—the desi version of an economic sprint.
89. The Twelfth Five-Year Plan aimed at achieving which of the following goals?
a) Double-digit GDP growth
b) Faster, sustainable, and more inclusive growth
c) Import-substitution revival
d) Full privatization of PSUs
Tap here for Answer
Answer: b) Faster, sustainable, and more inclusive growth Explanation:
The Twelfth Plan (2012–17) aimed for holistic progress: growth that was fast, environmentally conscious, and socially inclusive. It tried to blend speed with fairness—like racing ahead with everyone on board. Unfortunately, the Planning Commission was scrapped before its full term.
90. Which of the following replaced Five-Year Plans post-2017?
a) Economic Survey Reports
b) NITI Aayog Strategy Documents
c) State Development Reports
d) Vision India 2030
Tap here for Answer
Answer: b) NITI Aayog Strategy Documents Explanation:
After the Twelfth Plan, NITI Aayog began issuing 3-Year Action Plans, 7-Year Strategy Papers, and 15-Year Vision Documents. It was like switching from a fixed diet plan to a flexible fitness routine—more adaptive, less rigid, and (hopefully) better at achieving results.
