Q&As- Economic Planning in India – Short Questions and Answers

Economic Planning in India – Q&A

Economic planning refers to the process where the government sets goals and allocates resources to achieve economic development in a systematic manner.

Economic planning in India officially began in 1951 with the launch of the First Five-Year Plan.

India adopted a mixed economy model inspired by the Soviet-style planning system.

Key objectives include poverty reduction, employment generation, self-reliance, balanced regional development, and growth with social justice.

Types include perspective planning (long-term), five-year plans (medium-term), and annual plans (short-term).

Thirteen five-year plans were implemented between 1951 and 2017, after which NITI Aayog replaced the Planning Commission.

Growth in agriculture and industry, development of infrastructure, poverty alleviation programs, and expansion of education and health sectors.

The plans were financed through domestic savings, taxation, public sector investments, external borrowings, and deficit financing.

The Planning Commission (1950–2014) was initially responsible; it was replaced by NITI Aayog in 2015.

NITI Aayog acts as a policy think tank providing strategic and technical advice to the central and state governments.

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Chapter Number	PAPER I – INDIAN ECONOMY & INDIAN FINANCIAL SYSTEM MODULE A: INDIAN ECONOMIC ARCHITECTURE
1.	An Overview of the Indian Economy: Evolution, Structure & Key Milestones
2.	Economic Planning in India: A Complete Overview,Sectors of the Indian Economy
3.	Role of Priority Sector and MSME in the Indian Economy
4.	Infrastructure including Social Infrastructure
5.	Globalisation – Impact on India
6.	Economic Reforms
7.	Foreign Trade Policy, Foreign Investments and Economic Development
QandAs/MCQs 1	Q and A - An Overview of the Indian Economy: Evolution, Structure and Key Milestones
QandAs/MCQs 2	Q&As- Economic Planning in India – Short Questions and Answers
QandAs/MCQs 3	MCQs- Sectors of the Indian Economy – Important Questions
QandAs/MCQs 4	MCQs- Role of Priority Sector and MSME in the Indian Economy
QandAs/MCQs 5	MCQs – Infrastructure, Globalisation, and Economic Reforms
QandAs/MCQs 6	MCQs – Foreign Trade, Investments & International Economic Organizations
QandAs/MCQs 7	MCQs – Climate Change, SDGs, and Indian Economic Issues
MODULE B: ECONOMIC CONCEPTS RELATED TO BANKING
MODULE C: INDIAN FINANCIAL ARCHITECTURE
MODULE D: FINANCIAL PRODUCTS AND SERVICES