Comprehension

Read the paragrah given below and answer, the following question:
As in the USSR, the planning commission of India opted for Five Year Plans (FYP). The idea is very simple the government of India prepares a document that has a plan for all its income and expenditure for the next five years. Accordingly the budget of the central and all the state governments is divided into two parts 'non-plan' budget that is spent on routine items on a yearly basis and 'plan' budget that is spent on a five year basis as per the priorities fixed by the plan. A five year plan has the advantage of permitting the government to focus on the larger picture and make long term intervention in the economy.

Question: 1

The Planning Commission has been replaced by:

Updated On: May 31, 2024
  • NITI Aayog
  • CVC
  • CWC
  • CIC
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The Correct Option is A

Solution and Explanation

The correct option is (A):NITI Aayog
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Question: 2

'PLAN BUDGET' is spent on a :

Updated On: May 31, 2024
  • Yearly basis
  • Five year basis
  • Three year basis
  • Two year basis
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The Correct Option is B

Solution and Explanation

The correct option is (B): Five year basis
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Question: 3

The document of Five year plan is prepared by:

Updated On: May 31, 2024
  • Parliament
  • Rajya Sabha
  • Government of India
  • Lok Sabha
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The Correct Option is C

Solution and Explanation

The correct option is (C): Government of India
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Question: 4

'Non-Plan' budget is the budget which is :

Updated On: May 31, 2024
  • Planned but not spent
  • Planned but should not be spent
  • Spent on a yearly basis
  • Spent only in the first year
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The Correct Option is C

Solution and Explanation

The correct option is (C):Spent on a yearly basis
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Question: 5

The idea of Planning commission and five year plan was adopted from:

Updated On: May 31, 2024
  • Japan
  • USSR
  • Germany
  • France
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The Correct Option is B

Solution and Explanation

The correct option is (B): USSR
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