Which of the following is a feature of the Indian planning process after 2015?
A. Continuation of Five Year Plans by Planning Commission
B. Complete abandonment of any form of planning
C. Only centralised planning without state participation
D. Replacement of Planning Commission by NITI Aayog with a focus on cooperative federalism
Answer: Option D
Solution (By JKSSB Mock Tests)
In 2015, the Planning Commission was replaced by NITI Aayog, which promotes cooperative federalism, provides strategic and technical advice, and does not impose centralised Five Year Plans in the earlier form.
In the context of public goods, the 'Lindahl Equilibrium' is characterised by:
A.Personalised prices (Lindahl taxes) such that each individual demands the same quantity of the public good and the sum of prices equals marginal cost
Explanation:
In a Lindahl equilibrium each individual faces a personalised price for the public good equal to his or her marginal benefit; the sum of these prices equals marginal cost and all individuals agree on the quantity.
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