What Do You Know About Economic And Social Development? Quiz

The philosophy behind economic planning recognizes that markets and the price system alone cannot ensure human welfare. This means that relying solely on the free market and prices to allocate resources and distribute goods and services is not enough to guarantee the well-being of individuals and society as a whole. Economic planning acknowledges the need for government intervention and regulation to address market failures, promote social welfare, and achieve economic objectives.

Jawaharlal Nehru chaired the National Planning Committee in 1938. He was a prominent leader of the Indian National Congress and played a crucial role in the Indian independence movement. As the chairperson of the committee, Nehru was responsible for formulating and implementing economic policies for the development of India. His leadership and vision were instrumental in shaping the country's economic planning and laying the foundation for its future growth and development.

"Planned Economy for India" (1934) was a work that proposed the idea of a planned economy for India. The correct answer is M. Visveswaraya, as he was the author of this work.

The purpose of the tenancy reform legislation was to achieve multiple objectives. Firstly, it aimed to confer ownership rights on tenants in certain cases, giving them a sense of security and stability in their tenure. Secondly, the legislation sought to enact the fixation of air rent, which would regulate the amount of rent charged by landlords. Lastly, it aimed to afford security of tenure to tenants, ensuring that they would not be arbitrarily evicted from their rented properties. Overall, the legislation aimed to protect the rights and interests of tenants and bring about a fair and balanced relationship between landlords and tenants.

The correct answer is Article 39. The Planning Commission was set up in accordance with the directive principles mentioned in Article 39 of the Constitution. This article outlines the principles of social and economic justice, stating that the State shall direct its policy towards securing adequate means of livelihood for all citizens, equal distribution of resources, prevention of concentration of wealth, and ensuring that the operation of the economic system does not result in the exploitation of the many by the few. The Planning Commission was tasked with formulating and implementing plans to achieve these objectives.

The correct answer is Harrod Domar model. The Harrod Domar model is an economic theory that suggests that the rate of economic growth depends on the level of savings and investment in an economy. This model was adopted during the First Five Year Plan in India, which aimed at achieving rapid industrialization and economic development through a focus on investment in key sectors of the economy. The plan emphasized the importance of capital formation and investment in order to stimulate economic growth and reduce poverty.

The scope of land reforms typically focuses on addressing issues related to land ownership, distribution, and agricultural practices. This includes measures such as the abolition of intermediaries, which aims to eliminate middlemen who exploit farmers. Cooperative farming is also a part of land reforms, as it promotes collective ownership and cultivation of land. However, housing loans to farmers are not directly related to land reforms, as they primarily address the housing needs of farmers rather than addressing land ownership or distribution. Therefore, housing loans to farmers are not included in the scope of land reforms.

The correct answer is Central Cooperative Bank. Central Cooperative Banks are financial institutions that operate at the district level and provide banking services to rural areas. They are responsible for promoting agriculture, rural development, and providing credit facilities to farmers and rural communities. These banks play a crucial role in the agricultural credit system and contribute to the overall development of the district.

The Green Revolution has led to a marked increase in the productivity of wheat. This is because the Green Revolution involved the introduction of high-yielding varieties of crops, improved irrigation methods, and the use of fertilizers and pesticides. These advancements specifically targeted wheat production, resulting in significant increases in its productivity. However, there is no mention of the Green Revolution having a similar impact on the productivity of pulses. Regional and inter-personal inequalities are not directly related to the Green Revolution and are therefore not affected by it.

Structural planning refers to the process of changing existing institutions or creating new ones. This involves making significant modifications to the organizational framework, such as restructuring departments, redefining roles and responsibilities, and implementing new systems or processes. It aims to improve efficiency, effectiveness, and overall performance by adapting the structure of an organization to better align with its goals and strategies. Centralized planning, on the other hand, involves decision-making authority concentrated in a central authority, while laying down broad goals and strategies refers to the process of defining overarching objectives and approaches. Therefore, the correct answer is changing existing institutions or creating new ones.