Which of the following is NOT a objective of economic planning in India? MCQ with Answer and Explanation

Question
Which of the following is NOT a objective of economic planning in India?
A. Maximisation of inequality
B. Economic growth
C. Modernisation
D. Self-reliance
Answer: Option A
Solution (By JKSSB Mock Tests)
Economic planning in India aimed at growth, modernisation, self-reliance and social justice (reduction of inequality), not maximisation of inequality.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
The 'net investment' is equal to gross investment minus:
A. depreciation
B. savings
C. taxes
D. consumption
Discuss
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Correct Answer: Option A

Explanation:
Net investment = gross investment - depreciation.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'Goods and Services Tax' on coffee beans is:
A. 5%
B. 0%
C. 18%
D. 12%
Discuss
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Correct Answer: Option A

Explanation:
Coffee beans attract 5% GST.
This question belongs to: Economy GK Economy Set 1
Question #3
The concept of 'Accelerator' in economics relates to:
A. Relationship between tax rate and revenue
B. Relationship between money supply and prices
C. Relationship between change in income and change in investment
D. Relationship between interest rate and saving
Discuss
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Correct Answer: Option C

Explanation:
The accelerator principle states that investment depends on the rate of change of income or output. An increase in demand leads to a magnified increase in investment.
This question belongs to: Economy GK Economy Set 1
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