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Home › Exam notes › OSSC RHT — Regular High School Teacher › Indian planning and reforms

Indian planning and reforms

Economics

Useful for: OSSC RHT — Regular High School Teacher, OSSC Economics, OSSSC Govt TGT Arts, SSB Lecturer (Degree Colleges), SSB TGT Arts

Overview

India followed five-year plans from 1951 to 2017 and moved to liberalisation in 1991; NITI Aayog replaced the Planning Commission in 2015.

Key points

  • The Planning Commission was set up in 1950.
  • The First Five-Year Plan began in 1951; the Twelfth (2012–17) was the last.
  • The Second Plan followed the Mahalanobis model emphasising heavy industry.
  • The 1991 reforms are known as liberalisation, privatisation and globalisation (LPG).
  • NITI Aayog replaced the Planning Commission on 1 January 2015.
  • Plans set targets for growth, employment and poverty reduction.

Explanation

  • Plan holidays occurred in 1966–69 and 1990–92.
  • The Eleventh Plan emphasised inclusive growth.
  • NITI Aayog works as a think tank promoting cooperative federalism.
  • Disinvestment and de-licensing were part of reforms.
  • Reforms raised growth but also debates on inequality.

Step by step

  1. Identify the concept, law or fact asked.
  2. Recall the definition, formula, example or year.
  3. Apply it and eliminate mismatched options.

Examples

  • The plan associated with heavy industry → Second Plan (Mahalanobis).
  • The last Five-Year Plan → Twelfth (2012–17).
  • NITI Aayog replaced the Planning Commission in → 2015.

Traps and advanced points

  • Trap: Wrong plan count.
  • Trap: Mixing Planning Commission and Finance Commission.
  • Trap: Dating NITI to 2014.

Quick revision

  • 1950 Commission; 1951–2017 plans.
  • Mahalanobis (2nd plan).
  • 1991 LPG; NITI 2015.

Practice MCQs

  1. The Planning Commission was set up in —

    1. 1947
    2. 1950
    3. 1951
    4. 1956

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    Answer: (b) 1950. 1950.

  2. The First Five-Year Plan began in —

    1. 1956
    2. 1961
    3. 1950
    4. 1951

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    Answer: (d) 1951. 1951.

  3. The last Five-Year Plan was the —

    1. Thirteenth
    2. Tenth
    3. Eleventh
    4. Twelfth

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    Answer: (d) Twelfth. Twelfth, 2012–17.

  4. The Second Plan followed the model of —

    1. Lewis
    2. Harrod–Domar
    3. Mahalanobis
    4. Keynes

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    Answer: (c) Mahalanobis. Heavy industry focus.

  5. NITI Aayog replaced the Planning Commission on —

    1. 15 August 2015
    2. 1 January 2015
    3. 1 April 2014
    4. 26 January 2016

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    Answer: (b) 1 January 2015. 1 January 2015.

  6. The 1991 reforms are summed up as —

    1. GDP
    2. FDI
    3. MSP
    4. LPG

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    Answer: (d) LPG. Liberalisation, privatisation, globalisation.

  7. The Mahalanobis model emphasised —

    1. agriculture only
    2. services
    3. exports only
    4. heavy industry

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    Answer: (d) heavy industry. Capital goods.

  8. The Twelfth Plan covered —

    1. 2017–22
    2. 2002–07
    3. 2007–12
    4. 2012–17

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    Answer: (d) 2012–17. 2012–17.

  9. Five-Year Plans set targets for growth, employment and —

    1. stock prices
    2. cricket
    3. weather
    4. poverty reduction

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    Answer: (d) poverty reduction. Development goals.

  10. NITI Aayog is mainly a —

    1. bank
    2. court
    3. election body
    4. policy think tank

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    Answer: (d) policy think tank. Advisory body.

More topics in this chapter

Notes and questions are written by Kundali IQ for practice. They are not official papers; always check the latest official notification for the syllabus and pattern.