Quiz 2: Chapter 2 Economic Planning In India | IE&IFS JAIIB MCQs Practice Pack

IE&IFS Chapter 2 Economic Planning in India

📝 Quiz: Economic Planning in India

(Paper I – Indian Economy & Indian Financial System | Module A)

Test your knowledge of Chapter 2: Economic Planning in India with this JAIIB MCQs Practice Pack, covering key topics such as:

📌 Topics Covered:

Definition & history of economic planning
Planning Commission vs NITI Aayog
Chronology of Five-Year Plans (successes & failures)
Objectives & achievements of planning
Plan Holidays, Green Revolution, and LPG reforms
Financial resources for Five-Year Plans

✅ Correct answers with explanations are provided at the end for effective revision.

Sharpen your preparation, identify weak areas, and build exam confidence with these practice questions.

Stay focused. Stay exam-ready.

📚 For more daily quizzes, current affairs PDFs, and complete JAIIB study material, visit bankingshiksha.com.

1 / 10

1. In 2015, the Government of India replaced the long-standing Planning Commission with a new institution designed to act as a policy think tank. What is the name of this new institution?

A. National Development Council (NDC)

B. Finance Commission

C. NITI Aayog

D. Reserve Bank of India (RBI)

2 / 10

2. What was the primary focus of India's very First Five-Year Plan (1951–1956)?

A. Rapid industrialization and heavy industries.

B. Information technology and software services.

C. Poverty eradication and social justice.

D. Agriculture, irrigation, and power projects.

3 / 10

3. The term "Plan Holiday" in the context of Indian economic planning refers to which of the following?

A. A period when the economy grew so fast that planning was temporarily suspended.

B. The two-year gap between the Seventh and Eighth plans due to political changes.

C. The three annual plans that were implemented between the Third and Fourth Five-Year Plans due to financial crises.

D. A mandatory break for Planning Commission members after every five-year plan.

4 / 10

4. The popular slogan "Garibi Hatao" (Poverty Eradication) was the central theme and main objective of which Five-Year Plan?

A. Second Plan

B. Third Plan

C. Fifth Plan

D. Seventh Plan

5 / 10

5. Complete the following sentence: The strategy of rapid industrialization with a focus on heavy industries, which formed the basis of the Second Five-Year Plan, was devised by Professor __________.

A. H. D. Dickinson

B. S.S. Tarapore

C. P.C. Mahalanobis

D. Raj Krishna

6 / 10

6. Complete the following sentence: NITI Aayog was established as a government __________, with the core mission of promoting __________ by bringing states together to work in the national interest.

A. Statutory Body, Regionalism

B. Think Tank, Cooperative Federalism

C. Executive Body, Centralised Planning

D. Regulatory Authority, Competitive Federalism

7 / 10

7. Which of the following statements about India's planning institutions is TRUE?

A. The Planning Commission was chaired by the Finance Minister of India.

B. NITI Aayog is a statutory body created by an Act of Parliament.

C. The primary role of NITI Aayog is to act as a "Think Tank" promoting Cooperative Federalism.

D. The National Development Council (NDC) was responsible for the daily implementation of the Five-Year Plans.

8 / 10

8. Which of the following statements regarding the Five-Year Plans is TRUE?

A. The First Five-Year Plan prioritized the development of heavy industries.

B. The "Garibi Hatao" (Poverty Eradication) slogan was the main theme of the Sixth Five-Year Plan.

C. The Green Revolution was the most significant achievement of the Second Five-Year Plan.

D. The Third Five-Year Plan is widely considered a failure due to disruptions from wars and a major drought.

9 / 10

9. For Questions 9 and 10, use the following table to find the correct matches.

Column A (Plan/Concept)	Column B (Key Feature/Outcome)
1. Third Plan (1961-65)	a. Succeeded the Planning Commission as a policy think tank.
2. Green Revolution	b. Is widely considered a major failure due to wars and a severe drought.
3. Eighth Plan (1992-97)	c. Was the first plan implemented after the 1991 economic reforms.
4. NITI Aayog	d. Was a major outcome of the new agricultural strategy introduced during the "Plan Holiday".

From the table above, which of the following is a correct match?

A. 1-a

B. 2-d

C. 3-b

D. 4-c

10 / 10

10. From the table Below, which of the following is another correct match?

Column A (Plan/Concept)	Column B (Key Feature/Outcome)
1. Third Plan (1961-65)	a. Succeeded the Planning Commission as a policy think tank.
2. Green Revolution	b. Is widely considered a major failure due to wars and a severe drought.
3. Eighth Plan (1992-97)	c. Was the first plan implemented after the 1991 economic reforms.
4. NITI Aayog	d. Was a major outcome of the new agricultural strategy introduced during the "Plan Holiday".

A. 1-d

B. 2-a

C. 3-c

D. 4-b

Your score is

The average score is 70%

Exit

📝 Quiz: Economic Planning in India

Quick Links

Study Material

Follow us on

📝 Quiz: Economic Planning in India

Related Posts

Quick Links

Study Material

Follow us on