Development Experience and Economic Reforms Test

Result

Development Experience and Economic Reforms Test - 5

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Weekly Quiz Competition

Question 1
1 / -0

IBRD was another name for which of the following institution ?

A
Reserve Bank of India

B
Federal Reserve

C
World Bank

D
Swiss National Bank

Solution

IBRD or International Bank of Reconstruction and Development was the other name of the World Bank.
Question 2
1 / -0

Indian Planning Commission was constituted in:

A
1947

B
1950

C
1951

D
1971

Solution

Planning Commission, agency of the government of India established in 1950 to oversee the country’s economic and social development, chiefly through the formulation of five-year plans.
Question 3
1 / -0

How many industries were reserved for the public sector, in 1991?

A
8

B
18

C
19

D
20

Solution

In 1991, only eight industries were reserved for the public sector, and they were restricted to atomic energy, arms and communication, mining and railways.
Question 4
1 / -0

First Five-Year Plan was started on:

A
15th August, 1947

B
1st April 1951

C
2nd October, 1956

D
1st July, 1962

Solution

The First Five-year Plan was launched in 1951 which mainly focused in the development of the primary sector.
Question 5
1 / -0

How was the economy of India before British rule?

A
Before the rule of the British, the livelihood ofIndians was mainly based on the agricultural sector.

B
Before British rule, the Indian economy was anindependent economy and India had a flourishing market.

C
The handicrafts of India, metallic work and textileindustries had the market all over the world.

D
All of the above

Solution

Before the control of the British over the Indianeconomy, the economy of India was in a stable state and had anagricultural-based livelihood. The market of handicrafts, textile, and metallicwork has a worldwide market.
Question 6
1 / -0

What was the amount received by India as a loan from the International Monetary Fund (IMF) in 1980s?

A
$ 6 billion

B
$ 6.5 billion

C
$ 7 billion

D
$ 8 billion

Solution

India received $ 7 billion as a loan from IMF to overcome its crisis in the balance of payment account.
Question 7
1 / -0

Which of the following statements is not true about the industrial sector at the time of independence?

A
Industrialization of Indian Handicraft Industry

B
One sided modern industrial structure

C
Lack of capital goods industries

D
Limited operation of public sector

Solution

Traditional handicraft industries started declining in the 18th century and proceeded rapidly almost to the beginning of the 19th century. This process is called as deindustrialization.
Question 8
1 / -0

Mention the Indian economy’s nature on the eve ofindependence.

A
Underdeveloped

B
Backward

C
Stagnant

D
All of the above

Solution

The natures of the Indian economy on the eve ofindependence were Underdeveloped, stagnant, backward, and in very badcondition.
Question 9
1 / -0

Why was there an unbalanced economic growth on the eveof Independence?

A
In the industrial sector, 10.2% of the workingpopulation were involved.

B
In the agricultural sector, 72.7% of the workingpopulation was involved, it was the principal sector of occupation during thattime.

C
In tertiary or service sectors only 17.2% of workingpopulations were involved.

D
All of the above

Solution

On the eve of independence there was an unbalancedeconomic growth which resulted from the distribution of occupation among theworking population of India at the eve of Independence.
Question 10
1 / -0

Spectacular growth in the _________ sector was visible after 2000.

A
Service

B
Industry

C
Social

D
All of the above

Solution

Spectacular growth in the Service sector was visible after 2000.

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Re-Attempt Weekly Quiz Competition

Development Experience and Economic Reforms Test - 5

Result

Development Experience and Economic Reforms Test - 5

Score

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Rank

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SHARING IS CARING

Question 1

Reserve Bank of India

Federal Reserve

World Bank

Swiss National Bank

Solution

Question 2

1947

1950

1951

1971

Solution

Question 3

8

18

19

20

Solution

Question 4

15th August, 1947

1st April 1951

2nd October, 1956

1st July, 1962

Solution

Question 5

Before the rule of the British, the livelihood ofIndians was mainly based on the agricultural sector.

Before British rule, the Indian economy was anindependent economy and India had a flourishing market.

The handicrafts of India, metallic work and textileindustries had the market all over the world.

All of the above

Solution

Question 6

$ 6 billion

$ 6.5 billion

$ 7 billion

$ 8 billion

Solution

Question 7

Industrialization of Indian Handicraft Industry

One sided modern industrial structure

Lack of capital goods industries

Limited operation of public sector

Solution

Question 8

Underdeveloped

Backward

Stagnant

All of the above

Solution

Question 9

In the industrial sector, 10.2% of the workingpopulation were involved.

In the agricultural sector, 72.7% of the workingpopulation was involved, it was the principal sector of occupation during thattime.

In tertiary or service sectors only 17.2% of workingpopulations were involved.

All of the above

Solution

Question 10

Service

Industry

Social

All of the above

Solution

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