Question : Which of the following statements is correct regarding the Industrial Policy Resolution of 1956? I. This resolution formed the basis of the Second Five-Year Plan. II. This policy was used to promote industry in backward regions.
Option 1: Neither I nor II
Option 2: Both I and II
Option 3: Only I
Option 4: Only II
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Correct Answer: Both I and II
Solution : The correct answer is Both I and II.
The Industrial Policy Resolution of 1956 classified industries into three categories: in the first category, the industries that are owned by the state; in the second category, the public and private types of industries; and in the third category, the rest of the private sector industries. The Industrial Policy Resolution of 1956 formed the basis of the Second Five-Year Plan, and this policy was also used to promote industry in backward regions.
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Question : The Industrial Policy Resolution of 1956 formed the basis of the_________________.
Option 1: Fifth Five Year plan
Option 2: Second Five Year plan
Option 3: Fourth Five Year plan
Option 4: Third Five Year plan
Question : Considering the five-year plans of India, which of the following is correctly matched?
I. Rolling Plan – Introduced before the Sixth Five-Year Plan II. Mahalanobis Plan – Second Five-Year Plan
Option 1: Only I
Option 3: Only II
Option 4: Neither I nor II
Question : Which of the following statements is correct regarding the features of a perfectly competitive market? I. The market consists of a large number of buyers and sellers. II. Information is perfect.
Option 2: Neither I nor II
Option 3: Both I and II
Question : Which of the following statements is correct regarding the Lucknow Pact? I. It was signed in the year 1916. II. It was signed between the moderate and radical factions of Congress.
Option 1: Both I and II
Question : Which of the following statements is correct regarding the demand curve? I. It is a graphical representation of the demand function. II. It gives the quantity demanded by the consumer at each price.
Option 2: Only II
Option 3: Neither I nor II
Option 4: Only I
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