Consider the following statements: 1. The Planning Commission decides on how to annually raise resources for financing the Five-Year Plans through taxes and non-tax revenues. 2. The Planning Commission works the plan implementation mechanism in detail. Wh

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Q: 96 (CDS-I/2005)
Consider the following statements:
1. The Planning Commission decides on how to annually raise resources for financing the Five-Year Plans through taxes and non-tax revenues.
2. The Planning Commission works the plan implementation mechanism in detail.
Which of the statements given above is/are correct ?

question_subject: 

Economics

question_exam: 

CDS-I

stats: 

0,22,16,5,8,22,3

keywords: 

{'plan implementation mechanism': [0, 0, 1, 0], 'planning commission': [5, 0, 9, 5], 'year plans': [0, 1, 0, 0], 'taxes': [2, 1, 1, 0]}

Both statements 1 and 2 are correct.

Statement 1 states that the Planning Commission decides on how to annually raise resources for financing the Five-Year Plans through taxes and non-tax revenues. This is accurate as the Planning Commission is responsible for determining the financial requirements of the Five-Year Plans and developing strategies to raise the necessary funds through various means, including taxes and non-tax revenues.

Statement 2 indicates that the Planning Commission works on the detailed plan implementation mechanism. This is also true as the Planning Commission plays a crucial role in formulating and implementing the Five-Year Plans. It develops the detailed plan of action, allocates resources, and monitors the progress of plan implementation.

Therefore, both statements 1 and 2 are correct, and option 3 is the correct answer.