Subject: Economics
Book: Comprehensive Indian Economy
Post-independence, India adopted Five-Year Plans inspired by socialist economic planning, focusing on industrial development, self-sufficiency, and poverty reduction. Over time, criticisms about rigid targets and inefficiencies grew. Eventually, a new planning paradigm emerged, dismantling the Planning Commission and replacing it with a more flexible institutional approach. This shift aims to promote cooperative federalism and encourage bottom-up policy initiatives. From an exam perspective, students should note the main objectives and outcomes of each Five-Year Plan, why the old model was replaced, and how the current framework focuses on strategic, medium-term policy agendas.
Which economic concept is described as “the next best alternative foregone”?
View QuestionWhat is the primary function of the International Monetary Fund (IMF)?
View QuestionWhat is the primary purpose of Special Economic Zones (SEZs)?
View QuestionWhich of the following sectors contributes the most to India’s GDP?
View QuestionWhich of the following measures can reduce a trade deficit?
View QuestionWhat is a “repo rate”?
View QuestionWhich of the following is an example of fiscal policy?
View QuestionWhat is the significance of “Purchasing Power Parity” (PPP)?
View QuestionWhat does the term "depreciation" refer to in the context of assets?
View QuestionWhat is the purpose of the "Minimum Support Price" (MSP) in India?
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