Question : Which of the following poverty estimation methods is used by the Planning Commission of India?
Option 1: Headcount Ratio
Option 2: Poverty Gap Index
Option 3: Human Poverty Index
Option 4: Multidimensional Poverty Index
Correct Answer: Headcount Ratio
Solution : The correct answer is (a) Headcount Ratio
The Headcount Ratio is a simple measure of poverty that is calculated by dividing the number of people below the poverty line by the total population. The poverty line is the minimum income or consumption level that is necessary to meet basic needs.
The Planning Commission of India has used the Headcount Ratio since the 1970s to estimate poverty in India. The other poverty estimation methods are not used as widely by the Planning Commission.
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Question : The poverty line in India is estimated using the methodology recommended by:
Option 1: Amartya Sen
Option 2: Mahbub ul Haq
Option 3: Planning Commission of India
Option 4: World Bank
Question : Which one of the following formulates the fiscal policy in India?
Option 1: Planning Commission
Option 2: Finance Commission
Option 3: Reserve Bank of India
Option 4: Ministry of Finance
Question : The organization responsible for estimating poverty in India is:
Option 1: Reserve Bank of India
Option 2: Ministry of Finance
Option 3: Planning Commission (now NITI Aayog)
Option 4: Central Statistical Office
Question : Which body is constituted by the President of India to advise on the decision of Central Resources between the central and the State ?
Option 1: Tariff Commission
Option 3: Planning Commission
Option 4: Taxation Enquiry Commission
Question : The Planning Commission in India was replaced by which organization in 2015?
Option 1: NITI Aayog
Option 4: Ministry of Planning
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