Indian Economy Questions and Answers

Answer: D

The NSSO was established in 1950.

Set up on P.C. Mahalanobis's initiative, it conducts nationwide sample surveys on consumption expenditure, employment and other socio-economic subjects, and its rounds are the basis of India's poverty and employment estimates. It became part of the National Statistical Office in 2019.

Answer: D

The First Plan ran from 1951 to 1956.

It was based on the Harrod-Domar model and concentrated on agriculture, irrigation and power, largely completing projects already begun. It targeted 2.1 per cent growth and achieved 3.6 - the only plan to exceed its target by so wide a margin.

Answer: B

It was constituted on 6 August 1952.

The National Development Council was set up by Cabinet resolution to give the states a formal voice in planning. A plan drafted by the Planning Commission became operative only after the Council approved it.

Answer: B

This is the Yellow Revolution.

It refers to the growth of oilseed production, particularly mustard and sunflower, under the Technology Mission on Oilseeds launched in 1986. Output rose from about 12 million tonnes to 24 million within a decade, cutting edible oil imports sharply for a time.

Answer: B

The WTO is headquartered in Geneva.

It occupies the Centre William Rappard on Lake Geneva, taking over from GATT when it came into being on 1 January 1995 at the end of the Uruguay Round.

Answer: D

NSSO is the National Sample Survey Organisation.

Set up in 1950 on P.C. Mahalanobis's initiative, it conducts nationwide household surveys on consumption, employment, health and other subjects. Its rounds are the source of India's poverty and unemployment estimates.

Answer: C

It was implemented in October 1999.

The National Agricultural Insurance Scheme replaced the Comprehensive Crop Insurance Scheme from the rabi season of 1999-2000, covering all farmers and all food crops and oilseeds. It was replaced by the Pradhan Mantri Fasal Bima Yojana in 2016.

Answer: A

IDBI was established in 1964.

It was set up as a wholly owned subsidiary of the Reserve Bank to act as the apex institution for industrial finance, coordinating the work of the other development banks. Ownership was transferred to the government in 1976, and it became a bank in 2004.

Answer: B

Mahila Samridhi Yojana started in 1993.

Launched on 2 October 1993, it encouraged rural women to save by opening accounts at post offices, with the government adding an incentive of 25 per cent on deposits held for a year - an attempt to give women control over household savings.

Answer: A

The Ninth Plan had that theme.

Running from 1997 to 2002, it made 'growth with social justice and equity' its objective, with priority to agriculture, rural development and the basic minimum services.