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MCQ on Nature & Planning of Indian Economy

[MCQ Set] Nature of Indian Economy / Planning > GK [PDF]


MCQ on Nature & Planning of Indian Economy

MCQ on Nature and Planning of Indian Economy are also very important for the all type of competitive examinations. I have included the most expected objective type questions with answer from Nature and planning of Indian economy.

If you are preparing for the examinations of IAS, UPSE, SSC, CGL, MTS, CHSL, Railway or Banking, and looking for practising some multiple choice questions, then you are in the right place. I always try to provide best and selected objective questions for your future.

The subject Indian economy has equal importance with other subjects like Indian history Geography etc,  specially in banking examination. So keep practising these questions regularly.

Quote of the Day: Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.

—— Buddha


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Q.1 The Father of economy is referred to which of the following legend?

A: Amarrya Set

B: Adam Smith

C: Charles Babbage

D: Hippocrates

Answer :

Adam Smith

Q.2 Who introduces the ‘Five Year Plan’ in India?

A: Mahatma Gandhi

B: Jawaharlal Nehru

C: Dr. Sarbapalli Radhakrisnan

D: Max Mular


Jawaharlal Nehru

Q.3 What type of Economy exists in India?
[CDS 1992]


A: Free economy

B: Mixed economy

C: Command Economy

D: free-market economy


Mixed economy

Q.4 India opted for ‘Mixed Economy‘ in ___________.

A: First Five Year Plan

B: Industrial Policy of 1948

C: The first fiscal policy

D: Planning Commission

Answer Industrial Policy of 1948

Q.5 What is meant my Mix Economy?

[CDS 2009]

A: co-existence of public sector along with private sector.

B: Equal promotion of agriculture and industry.

C: It is controlled only by heavy industry

D: It is controlled by military as well as civilian


Co-existence of public sector along with private sector.

Q.6 The economy planning of India cannot be said to be _______.

[NDA 2002]

A: Imperative

B: Limited

C: Restricted

D: emblematic



Q.7 The task of Planning Commission of India is _________.

A: Backing up the plan

B: Preparation of the plan

C: monetisation the plan

D: None of the above


Preparation of the plan

Q.8 The book ‘Planned Economy for India‘ was written by which of the following author?

[IAS 2003]

A: Dr. Amarty Sen

B: Jawaharlal Nehru

C: M Visvesvarya

D: Indira Gandhi


M. Visvesvarya

Q.9 How agriculture contributing to the India economy?

A: It helps  Increasing

B: It helps  decreasing

C: It has no contribution

D: None of the above


It helps increasing

Q.10 The proposal of Five Year Plan finalised by –

[IAS 2002]

A: Finance Commission

B: States Reorganisation Commission

C: Commission for Enterprises in the Unorganized Sector

D: National Development Council


National Development Council.

Q.11 In which year National Development Council was set up?

A: 1949

B: 1955

C: 1951

D: 1952



Q.12 Which of the following option regarding Indian economy is correct?

[Assistant Grade 1991]

A: It is a subject in the Union List.

B: It is a subject in the Concurrent List.


C: It is a subject in the State List.

D: It is not specified in any special list.


It is in the Union List.

Q.13 What is the factor that government depends on for financing the Five Year Plan?

[NDA 1991]

A: Only taxation

B: Public borrowing

C: deficit financig

D: both public borrowing and deficit


Only taxation.

Q.14 From which of the following commission The National Development Commission get its administrative support?

A: Census Commission

B: Planning Commission

C: Competition Commission of India

D Finance Commission


Planning Commission of India.

Q.15 How the Five Year Plan of India intend to develop the country’s industrially?

[NDA 1991]

A: Through the public sector

B: Through the private sector

C: through the collaboration with Non-resident Indian.

D: Through public, private, joint and Cooperative sectors


Through the public, private, joint and Cooperative sectors.

Q.16 What is Planning Commission?

[UP PSC 1994]

It is a Ministry

B: It is an Advisory body.

C: It is a Government body.

D: It is an autonomous Corporation


It is an advisory body.

Q.17 The Deputy Chairman of Planning commission is –

A: Finance Minister

B: Prime Minister

C: President of India

D: None of the above


None of the Above

Q.18 What is meant by ‘Take off stage‘ in an economy?

[CBI 1990]

A: It means steady growth begins.

B: it means economy is stagnant

C: It means all controls are removed.

D: It means economy is about to collapse.


Steady growth begins.

Q.19 Who publish the Economy Survey of India?

[IAS 1998]

A: Minister of Finance.

B: Minister of External Affairs

C: Minister of Home Affairs

D: Minister Of Commerce and Industry


Minister of Finance.

Q.20 What percentage of population of India are engaged in primary sector?

A: 50%

B: 60%

C: 70%

D: 65%



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Hi, I am SOM, a State Added (WB) Lecturer in Physics at a College, Part-time blogger, and founder of, started blogging since 2015 and still learning.

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