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SEBA Class 7 Social Science Chapter 19 Planning Budget and Development
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Planning Budget and Development
| Part – 3: Political and Economics |
| Exercise |
1. Give short answer:
(a) What is the meaning of savings?
Ans: Savings means the part of income that is left after meeting daily or monthly expenses. This saved money is kept for future needs or emergencies.
(b) What is planning?
Ans: Planning means thinking in advance about what work is to be done, how it will be done, when it will be done, and who will do it.
(c) What is budget?
Ans: A budget is a statement or plan that shows expected income and planned expenditure for a fixed period of time.
(d) What are welfare works?
Ans: Welfare works are activities undertaken for the benefit and well-being of people, such as education, health services, roads, drinking water, and other public facilities.
(e) In which year was the NITI aayog formed?
Ans: The NITI Aayog was formed in 2015.
2. Write answers:
(a) What type of works are given importance in a country’s planning? How do government generate fund to implement planned works.
Ans: In a country’s planning, welfare-oriented and developmental works are given priority. These include poverty removal, employment generation, infrastructure development, education, health, and social justice.
To implement these plans, the government generates funds mainly from tax revenue and non-tax revenue. Taxes include income tax, GST, corporate tax, etc. Non-tax revenue includes fines, fees, donations, and stamp duties. Sometimes the government also raises funds through loans.
(b) What are the main objectives to be arrived at with India’s Five – Year Plan?
Ans: The Five-Year Plans aimed at achieving economic growth, modernization of different sectors, social justice, self-reliance, and full use of available resources. Different plans focused on different sectors such as agriculture, industrialisation, and inclusive growth. After the 12th Five-Year Plan (2012–2017), India discontinued the Five-Year Plan system.
3. Choose the correct answer:
(a) The chairman of the NITI Ayog is the-
(i) President.
(ii) Finance Minister.
(iii) Prime Minister.
(iv) Home Minister.
Ans: (iii) Prime Minister.
(b) The tenure for five year plan in –
(i) 4 years.
(ii) 6 years.
(iii) 8 years.
(iv) 5 years.
Ans: (iv) 5 years.
(c) To implement the plans the government requires.
(i) Agriculture.
(ii) Industries.
(iii) Fund.
(iv) Trade and commerce.
Ans: (iii) Fund.
(d) Which of the following is an example of non-tax revenue-
(i) Income tax.
(ii) Corporate Tax.
(iii) Goods and Services.
(iv) Fines.
Ans: (iv) Fines.
(e) Which of the following sectors got the utmost importance in the 12th Five Year Plan?
(i) Inclusive Growth.
(ii) Agriculture.
(iii) Industrialization.
(iv) Roads and Transportation.
Ans: (i) Inclusive Growth.
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