Five Year Plans MCQ (Free PDF) - Objective Questi 4
Five Year Plans MCQ (Free PDF) - Objective Questi 4
Five Year Plans MCQ (Free PDF) - Objective Questi 4
1. Harrod-Domar Model
2. Mahalanobis Model
3. Cobb-Douglas Model
4.
India's Super
Teachers for all govt.
exams Under One
Roof
FREE Demo Classes Available*
Additional Information
Mahalanobis Plan was India's second
five-year plan (1956-61) proposed by
Professor Prasanta Chandra
Mahalanobis. This plan gave priority to
investment goods, as they were crucial
for the further economic growth of
India. The plan explores the allocation
of investment between the different
sectors of the economy.
The Lewis model describes a path
whereby a developing economy can
foster the growth of a new "capitalist
sector," which will employ a growing
share of the excess labor available
from the subsistence sector.
A Cobb-Douglas production
function models the relationship
between production output and
production inputs (factors). It is used
to calculate ratios of inputs to one
another for efficient production and to
estimate the technological change in
production methods.
EE
FR
India’s #1 Learning Platform
1. Fifth
2. Sixth
3. Seventh
4. Tenth
5. Twelveth
Option 3 : Seventh
Key Points
From the Seventh five-year plan, the
Public Distribution System became a
permanent plan.
The Public Distribution System (PDS) is
an Indian food Security System
established under the Ministry of
Consumer Affairs, Food, and Public
Distribution.
This scheme was launched in June
1947.
It distributes subsidized food and non-
food items to India’s poor.
PDS is operated under the joint
responsibility of the Central and the
State Governments.
Additional Information
Fifth five-year plan
The Fifth Five-year Plan
emphasized the ‘removal of
poverty and attainment of self-
reliance.
The fifth Five Year Plan duration
was 1974 to 1978. This >plan
focussed on Garibi Hatao,
employment, justice, agricultural
production, and defense.
This plan was terminated in 1978
by the newly elected Moraji Desai
government.
The Electricity Supply Act was
amended in 1975, a Twenty-point
program was launched in 1975,
the Minimum Needs Programme
(MNP), and the Indian National
Highway System was introduced.
Sixth five-year plan
The Sixth Five-Year Plan marked
the beginning of economic
liberalization. Price controls were
eliminated and ration shops were
closed.
This led to an increase in food
prices and an increase in the cost
of living.
The National Bank for
Agriculture and Rural
Development was established
for the development of rural areas
on 12 July 1982 by
recommendation of the
Shivaraman Committee.
Family planning was also
expanded.
NCR planning board in 1985 and
Integrated Development of Small
and Medium Towns (IDMST).
The Sixth Five-Year Plan was a
great success for the Indian
economy.
The target growth rate was 5.2%
and the actual growth rate was
5.7%.
E E
FR
India’s #1 Learning Platform
Key Points
Mahalanobis Plan was India's second
five-year plan (1956-61) proposed by
Professor Prasanta Chandra
Mahalanobis.
PC Mahalanobis established the Indian
Statistical Institute (ISI) in Calcutta in
1931 and for the same reason, he is
known as the father of Indian
Statistics.
He was a member of the first Planning
Commission of free India.
This plan gave priority to investment
goods, as they were crucial for the
further economic growth of India.
The plan explores the allocation of
investment between the different
sectors of the economy.
Two sectors are considered in the
model; the production goods-
producing sector (K-sector) and the
consumption goods-producing sector
(C-sector).
Additional Information
Basic information about the planning
commission and 5- year plans:
The planning commission was
founded: in 1950.
Planning Commission head:
Prime Minister
First five-year plan launched:
1951
A total number of 5- year plans:
12.
Planning Commission dissolved:
2014 (By PM Narendra Modi)
Five
Yea
r Period About the Plan
Pla
n
Objective -
Development of
Agriculture
Based on Harrod
First1951-56 Domar Model
Target growth rate -
2.1%
Actual growth rate -
3.6%
Objective - Industrial
Development
Based on P.C.
Mahalanobis Model,
Sec
1956-61 1953
ond
Target growth rate -
4.5%
Actual growth rate -
4.27%
Objective - Self-
sufficiency in food, and
economy
Also called Gadgil
Yojana, named after
Deputy Chairman of
Thir Planning Commission
1961-66
d D.R. Gadgil
Failure of plan due to
Sino Indian War (1962)
and Indo-Pak War
(1965)
Target growth - 5.6%
Actual growth - 2.4%
Objective - Self-
reliance and sustained
growth
Green
Fou
1969-74 Revolution started
rth
Nationalization of 14
major banks
Target growth - 5.7%
Actual growth - 3.3%
Objective - Removal of
poverty
The slogan of Garibi
Hatao was used.
Fift
1974-78 Terminated by the
h
Morarji Desai
government in 1978
Target growth - 4.4%
Actual growth - 4.8%
Objective - Improveme
nt in infrastructure,
agriculture, and
Sixt
1980-85 industry, economic
h
liberalization
Target growth - 5.2%
Actual growth - %5.7
Objective - Modernisati
on and increase in
employment
Sev
The private sector got
ent 1985-90
priority over the public
h
sector
Target growth - 5%
Actual growth - 6.1%
Objective - Human
Resource development
New Economic
Eigh
1992-97 Policy of India
th
launched.
Target growth - 5.6%
Actual growth - 6.8%
Objective - Growth
with social justice and
Nint
1997-02 equality
h
Target growth - 6.5%
Actual growth - 5.6%
Objective - Increase in
Tent investment
2002-07
h Target growth - 8%
Actual growth - 7.6%
Objective - Sustainable
Twe
2012-17 development
lfth
Target growth - 8%
EE
FR
India’s #1 Learning Platform
1. Self- Reliance
2. Modernization
3. Equity
Key Points
The first seven Five Year Plans in
India gave importance to self-reliance.
Self-reliance means avoiding imports of
those goods which could be produced
in India itself.
This policy was considered a
necessity in order to reduce India's
dependence on foreign countries,
especially for food.
The first seven Five Year Plans
emphasized the development of the
following sectors to achieve self-
reliance:
Agriculture: The plans invested in
irrigation projects, dams, and
agricultural research to increase
food production.
Industry: The plans focused on
the development of heavy
industries, such as steel,
machinery, and chemicals.
Infrastructure: The plans invested
in roads, railways, ports, and
power generation to support
economic growth.
The focus on self-reliance was
instrumental in India's economic
development during the first few
decades after independence.
The country became self-sufficient in
food production and made significant
progress in industrialization. However,
the policy of import substitution was
also criticized for making Indian goods
less competitive in the global market.
E E
FR
India’s #1 Learning Platform
1. Population growth
2. Industrial growth
3. Self-reliance
Key Points
In 1990-91, India faced a
severe Balance of Payments (BOP)
crisis, where its foreign exchange
reserves were just adequate to
finance 15 days of imports.
In order to get out of the macro-
economic crisis in 1991, India
launched a New Economic Policy,
which was based on LPG or
Liberalisation, Privatisation, and
Globalisation model.
The broad range of reforms under
the LPG model included:
Liberalizing Industrial Policy:
Abolition of industrial license
permit raj, Reduction in import
tariffs, etc.
Beginning of
Privatisation: Deregulation of
markets, Banking reforms, etc.
Globalization: Exchange rate
correction, liberalizing foreign
direct investment and trade
policies, Removal of mandatory
convertibility cause, etc.
The main thrust of economic reforms
in India was to make the market the
central decision-maker in the
economic system.
The origin of the financial crisis can
be traced to the inefficient
management of the Indian economy
in the 1980s.
For the first time, the Union Budget for
1992-93 made the Indian rupee
partially convertible.
This was an inevitable move for the
expeditious integration of the Indian
economy with that of the world in order
to face the serious current account
deficit in the balance of payments, the
Government of India introduced the
partial convertibility of the rupee
from March 1, 1992.
Restructuring of the economy under
the economic reforms era was done
through decentralized planning.
EE
FR
India’s #1 Learning Platform
1. Russia
2. England
4. Germany
Option 1 : Russia
Key Points
The constitution of India has borrowed
most of its provisions from the
constitution of different countries in the
world.
According to Dr B R Ambedkar, the
constitution of India has been framed
after ransacking all the known
constitutions of the world.
The important provisions borrowed
from Russia are:
Five-year plan.
Fundamental duties.
Additional Information
The important provisions borrowed
from Britain are:
Parliamentary form of government
Rule of Law.
Single Citizenship.
Office of Comptroller and Auditor
General of India.
Bicameralism.
Writs.
The important provisions borrowed
from the United States are:
Fundamental rights.
Preamble.
Independence of judiciary.
Judicial review.
Impeachment.
Post of vice-president.
The important provisions borrowed
from Germany:
Suspension of Fundamental
Rights during the emergency.
EE
FR
India’s #1 Learning Platform
1. 1957-62
2. 1958-63
3. 1955-60
4. 1956-61
Option 4 : 1956-61
Key Points
1956-61 was the duration of the
Second Five Year Plan.
The Second Five Year Plan was based
on Mahalanobis Model.
Its main focus was on the industrial
development of the country.
P. C. Mahalanobis was a famous
Indian statistician who founded the
Indian Statistical Institute.
The plan lagged behind the target
growth rate of 4.5% and achieved a
growth rate of 4.27%.
Additional Information
The five-year plans were one of the
central plans.
The plans were formulated and were
financed by the central government.
These were launched in 1951, with the
first five-year plans covering the years
1951-56.
There were three breaks in five-year
plans during 1966-69, 1978-80, and
1991-92.
"Twelfth Five Year Plan" duration is
from 2012 to 2017, and it was under the
leadership of Manmohan Singh.
It was the last five-year plan because
Niti Aayog replaced it with the
planning commission.
Its main theme was “Faster, More
Inclusive and Sustainable Growth”.
Its growth rate target was 8%.
EE
FR
India’s #1 Learning Platform
Key Points
The third Five Year Plan was launched
from 1961-1966 under the leadership
of Pandit Jawaharlal Nehru.
The Deputy Chairman of
the Planning commission at the
time of the third five-year plan
was D. R. Gadgil.
The plan was also known as
the Gadgil Yojana.
The independent economy
(establishment of a self-reliant
and self-generating economy),
agriculture, and improvement in
the production of wheat were
the major objectives of the plan.
The third Five Year Plan
was affected due to drought and
two wars (Sino-India war of 1962
and Indo-Pakistani war of 1965).
Additional Information
The First five-year plan
This plan was launched
from 1951-1956 under
the leadership of Pandit
Jawaharlal Nehru.
It was based on the Harrod-
Domar model.
The targeted growth rate of the
plan was 2.1%.
The plan was
successful and achieved a
growth rate of 3.6% which was
more than its target.
The agricultural development of
the country was the major
objective of the plan.
At the end of this plan, five IITs
were set up in the country.
The second five-year plan
This plan is based on P.C
Mahalanobis Model.
It was planned from 1 April 1956
to 31 March 1961.
It is popularly known
as Mahalanobis Plan.
The second five-year
plan accords high priority to
industrialization, and especially
to the development of basic and
heavy industries.
This plan includes substantial
investment in iron and steel,
coal and Heavy engineering,
Machine building, Heavy
chemicals, and Cement
Industries.
Fourth-Five year Plan:
The duration of this Plan is
1969-1974 under the leadership
of Indira Gandhi.
The two main objectives of
this Plan are growth with
Stability and Progressive
achievement with self-reliance.
During this Plan, 14 major Indian
Banks were nationalized and
the Green Revolution was
started.
At this time, the Indo-Pak war of
1971 and the Bangladesh
liberation war took Place.
The main emphasis was on
the growth rate of agriculture to
enable other sectors to move
forward.
First, two years of the plan saw
record production.
The last three years did not
measure up due to poor
monsoon.
Implementation of Family
Planning Programmes was
amongst the major targets of
the Plan.
Important Points
Five-
Dura
year Aim
tion
plan
1st
1951
five-
to Based on Harrod Domar Model
year
1956
plan
2nd
1956
five-
to Based on Mahalanobis Model
year
1961
plan
3rd
1961
five-
to Also called as Gadgil Yojna
year
1966
plan
4th
1969 Growth with stability and progress
five-
to achievement of self-reliance are tw
year
1974 main objectives.
plan
5th
1974 This plan focussed on Garibi Hata
five-
to employment, justice, agricultura
year
1978 production, and defense
plan
6th
1980
five-
to Focused on economic liberalizatio
year
1985
plan
7th
1985
five- Aimed at the establishment of a se
to
year sufficient economy
1990
plan
8th
1992
five- The main focus was on the developm
to
year of Human Resources
1997
plan
9th
1997
five- The main focus was '“Growth wit
to
year Social Justice and Equality".
2002
plan
10th
2002
five- Aimed to double the Per Capita Inco
to
year of India in the next 10 years.
2007
plan
11th
2007
five- Its main theme was “rapid and mo
to
year inclusive growth”.
2012
plan
12th
2012
five- Its main theme is “Faster, More Inclu
to
year and Sustainable Growth”.
2017
plan
E E
FR
India’s #1 Learning Platform
Key Points
Fourth Five-Year Plan (1969-1974)
The fourth Five Year Plan was the
first plan launched by the Indira
Gandhi government amid the
pressure of drought,
devaluation, and inflationary
recession.
The country was fighting
with population explosion,
increased unemployment,
poverty, and a shackling
economy. In addition, the
situation in East Pakistan (now
independent Bangladesh) was
becoming dire as the Indo-
Pakistani War of 1971 and the
Bangladesh Liberation War took
place.
Funds earmarked for industrial
development had to be used for
the war effort.
The result was that this plan
period was also no better than
the third five-year plan.
It gave emphasis on Family
planning programs to control
the population.
Additional Information
Five-year plan Goal
Third Five-year Plan Focus on agriculture
First Five-year Plan Harrod Domar Model
Second Five-year Plan Mahalanobis model
EE
FR
India’s #1 Learning Platform
1. 2019
2. 2000
3. 1947
4. 1950
Option 4 : 1950
Key Points
The Planning Commission was an
institution which formulated Five-Year
Plans in India.
Planning Commission set up in
1950.
Planning commission was
established based on the
recommendation of an advisory
planning board under the
chairmanship of KC Neogy.
Headquarters: Yojana Bhavan,
New Delhi.
Planning commission is only an
advisory body.
The concept of planning was
based on the Russian model
introduced by Joseph Stalin.
The Prime Minister is the chairman
of the planning commission.
Jawaharlal Nehru was the first
chairman of the planning
commission.
Deputy chairman of the planning
commission was appointed by the
Union Cabinet.
Gulzarilal Nanda was the first
deputy Chairman of the Planning
Commission.
Narendra Modi government dissolved
the Planning Commission in 2014.
The planning commission was replaced
by the newly formed NITI Aayog in
2015.
EE
FR
India’s #1 Learning Platform
Key Points
Second Five-year plan (1956 to 1961)
The second plan was conceived in
an atmosphere of economic
stability.
It was felt agriculture could be
accorded lower priority.
Industries got more importance
in the 2nd five-year plan. The
focus was mainly on heavy
industries.
The Indian government boosted
the manufacturing of industrial
goods in the country.
This was done primarily to
develop the public sector.
The Plan Focussed on rapid
industrialization- heavy & basic
industries.
Advocated huge imports through
foreign loans.
Therefore, the Indian
Government adopted a mixed
economy during the second five-
year plan. Hence, Option 2 is
correct.
The Industrial Policy 1956 was
based on the establishment of a
socialistic pattern of society as
the goal of economic policy.
Acute shortage of forex led to
pruning of development targets,
the price rise was also seen (
about 30%) vis a vis decline in the
earlier Plan & the 2nd FYP was
only moderately successful.
Important Points
The 2nd year five-year plan
functioned based on the Mahalanobis
model.
The Mahalanobis model was
propounded by the famous Prasanta
Chandra Mahalanobis in the year 1953.
As many as five steel plants including
the ones in Durgapur, Rourkela ,Bhilai
were set up as per the 2nd five-year
plan.
During the term of the 2nd five-year
plan, Atomic Energy Commission
came into being.
The Commission was established in
the year 1957.
During the same period, the Tata
Institute of Fundamental Research
was born.
Additional Information
First Five Year Plan:
It was launched from 1951 to
1956, under the leadership
of Jawaharlal Nehru.
It was based on the Harrod-Domar
model with a few modifications.
Its main focus was on the
agricultural development of the
country.
This plan was successful and
achieved a growth rate of 3.6%
(more than its target of 2.1%).
At the end of this plan, five IITs
were set up in the country.
Third Five Year Plan:
It was made from 1961 to 1966.
It is also called ‘Gadgil Yojna’,
after the Deputy Chairman of
Planning Commission D.R. Gadgil.
The target of this plan was to
make the economy independent.
The stress was laid on agriculture
and the improvement in the
production of wheat.
India was engaged in two wars: (1)
the Sino-India war of 1962 and (2)
the Indo-Pakistani war of 1965.
These wars exposed the
weakness in our economy and
shifted the focus to the defense
industry, the Indian Army, and the
stabilization of the price (India
witnessed inflation).
The plan was a flop due to wars
and drought. The target growth
was 5.6% while the achieved
growth was 2.4%.
Fourth Five Year Plan:
Its duration was from 1969 to
1974, under the leadership
of Indira Gandhi.
The two main objectives of this
plan i.e. growth with stability and
progressive achievement of self-
reliance.
Fourteen major Indian banks were
nationalized and the Green
Revolution was started.
Indo-Pakistani War of 1971 and
the Bangladesh Liberation War
took place.
Implementation of Family
Planning Programmes was
amongst major targets of the
Plan
It failed and could achieve a
growth rate of 3.3% only against
the target of 5.7%.
EE
FR
India’s #1 Learning Platform
Key Points
First five-year plan was launched from
1951-1956 under the leadership of
Pandit Jawaharlal Nehru.
It was based on the Harrod-
Domar model.
The targeted growth rate of the
plan was 2.1%.
The plan was successful and
achieved a growth rate of 3.6%
which was more than its target.
The agricultural development of
the country was the major
objective of the plan.
At the end of this plan, five IITs
were set up in the country.
Additional Information
The third Five Year Plan was launched
from 1961-1966 under the leadership
of Pandit Jawaharlal Nehru.
The Deputy Chairman of the
Planning commission at the time
of the third five-year plan was D.
R. Gadgil.
The plan was also known as the
Gadgil Yojana.
The independent economy,
agriculture, and improvement in
the production of wheat were the
major objectives of the plan.
The third Five Year Plan was
affected due to drought and two
wars (Sino-India war of 1962 and
Indo-Pakistani war of 1965).
The fifth Five year Plan was launched
from 1974-1978.
Eradication of poverty,
employment, and justice was the
major objective of the Fifth Five
Year Plan.
The plan was successful and
achieved a growth rate of 4.8%.
Indian National Highway
system was introduced.
The newly elected Morarji Desai
Government in 1978 terminated
the plan.
The seventh Five Year Plan was
launched from 1985-1990 under the
leadership of Rajiv Gandhi.
The private sector was given
priority over the public sector for
the first time.
The targeted growth rate of the
plan was 5%.
The plan was successful and
achieved a growth rate of 6.01%.
The establishment of a self-
sufficient economy,
opportunities for productive
employment, up-gradation of
technology, accelerating food
grain production, raising
productivity with a focus on
food work and productivity were
the major objectives of the
Seventh Five Year Plan.
E E
FR
India’s #1 Learning Platform
1. 2010
2. 2011
3. 2013
4. 2012
Option 4 : 2012
Key Points
The Planning Commission of India was a
non-constitutional and non-statutory
body, which was responsible to
formulate India’s five years plans for
social and economic development in
India.
The Planning Commission is only an
advisory body.
The Prime minister of India is the Ex-
officio chairman of the planning
commission.
It was established on 15th March 1950
in accordance with article 39 of the
constitution which is a part of directive
principles of state policy.
The apex body gives final approval to a
five-year plan in India - National
Development Council.
National Development Council was
established on 6th August 1952.
NITI Aayog replaced the Planning
Commission of India from 1st January
2015.
Important Points
The first five-year plan was started from
1951 to 1956.
The concept of the five-year plan was
borrowed from USSR.
Father of Indian Planning - M.
Visveswarayya
The Chairman of NITI Aayog - Narendra
Modi
The Vice-Chairperson of NITI Aayog -
Dr. Suman Bery
The CEO of NITI Aayog - Shri B.V.R.
Subrahmanyam
NITI Aayog Headquarters - New Delhi
E E
FR
India’s #1 Learning Platform
Key Points
BLUE REVOLUTION
The Blue Revolution was first
launched in India as the 'Nili
Kranti Mission' during the 7th
Five Year Plan (1985-1990).
Fish Farmers Development
Agency (FFDA) was sponsored
by the central government.
The Intensive Marine Fisheries
Program was subsequently
launched during the 8th Five Year
Plan (1992-97).
As a result, the fishing
harbours were later established
over time in Vishakhapatnam,
Kochi, Tuticorin, Porbandar, and
Port Blair.
The scheme was restructured by
the Ministry of Agriculture and
Farmers Welfare along with
the Department of Animal
Husbandry, Dairying &
Fisheries into 'Blue Revolution'
by merging it with the other
ongoing schemes.
The scheme was controlled
by the National Fisheries
Development Board (NFDB).
Following were the objectives of
the Blue Revolution:
To triple the production in
the marine sector by the
year 2020.
Utilization of new
technologies to transform
the fisheries sector into a
modern industry.
To double the income of
fishers by improving the
post-harvest activities like
marketing through e-
commerce, etc.
To promote the economically
weaker sections of the
society.
To encourage
entrepreneurship
development, private
investment, and Public-
Private Partnership (PPP) in
the fisheries industry.
Additional Information
Other important revolutions related
to the agriculture sector are
Red Revolution - Meat and
Poultry sector;
Pink Revolution - Onion
production, Pharmaceuticals, and
Prawn production
White Revolution - Increasing
Milk production
Yellow Revolution - Increasing
Edible Oilseeds production
Green Revolution - Increasing
Foodgrains production
Golden Revolution - Increasing
Horticulture and Honey
production
Golden Fibre Revolution -
Increasing Jute Production
EE
FR
India’s #1 Learning Platform
1. 1st
2. 2nd
3. 3rd
4. 7th
Option 4 : 7th
Key Points
In the 7th five-year plan Jawahar Rojgar
Yojna was launched.
Jawahar Rozgar Yojana was launched
in 1989 by the Rajiv Gandhi
government.
It was implemented upon the merger of
the National Rural Employment
Programme (NREP) and Rural
Landless Employment Guarantee
Programme (RLEGP).
The Seventh Five Year Plan (1985-
1990) also laid impetus on the
development of small-scale and food
processing industries
The Seventh Five Year Plan also
encouraged 'Social Justice'.
EE
FR
India’s #1 Learning Platform
Related MCQ
Exams
Test Series
SuperCoaching
Latest Updates
Skill Academy
MCQ Questions
Company
About us
Careers We are hiring
Testbook Edu Solutions Teach Online on Testbook
Pvt. Ltd. Partners
Media
1st & 2nd Floor, Zion
Sitemap
Building,
Plot No. 273, Sector 10,
Kharghar,
Navi Mumbai - 410210
support@testbook.com
Toll Free:
1800 833 0800
Office Hours: 10 AM to 7
PM (all 7 days)
Test Series
Testbook App
Testbook Pass
Download now
Online Courses
Online Videos Current Affairs
Practice Download now
Blog
Follow us on
Refer & Earn
Books