The Rolling Plan concept was introduced in India during: MCQ with Answer and Explanation

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The Rolling Plan concept was introduced in India during:

A. Janata Party government after the Fifth Plan

B. First Plan

C. Third Plan

D. Eighth Plan

Answer: Option A

Solution (By JKSSB Mock Tests)

The Janata government introduced the Rolling Plan after the Fifth Five Year Plan.

This question belongs to: Economy GK Economy Set 1

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Question #1

The concept of 'Consumer Surplus' is the area:

A. Below the supply curve and above the price line

B. Below the demand curve and above the price line

C. Above the supply curve and below the price line

D. Above the demand curve and below the price line

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Correct Answer: Option B

Explanation:
Consumer surplus is the difference between the maximum amount consumers are willing to pay and the amount they actually pay, represented by the area under the demand curve and above the market price.

This question belongs to: Economy GK Economy Set 1

Question #2

The Lead Bank Scheme was introduced in 1969 based on the recommendations of:

A. Rangarajan Committee

B. Kelkar Committee

C. Narasimham Committee

D. Gadgil Study Group

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Correct Answer: Option D

Explanation:
The Lead Bank Scheme was introduced on the recommendation of the Gadgil Study Group.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Central Goods and Services Tax Act' was passed in which year?

A. 2018

B. 2015

C. 2017

D. 2016

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Correct Answer: Option C

Explanation:
CGST Act was passed in 2017.

This question belongs to: Economy GK Economy Set 1

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