Practice Quiz set 10 - indian economy mcq Online Quiz (set-1) For All Competitive Exams

Q-1)   SEZs were established with the objective of ____ .
  1. attracting foreign investment directly.
  2. protect domestic market from competition from multinationals.
  3. providing more capital to agricultural and allied activities.

(a)

(b)

(c)

(d)

Q-2)   Which of the following cities is known as the Financial Capital of India?

(a)

(b)

(c)

(d)

Explanation:

Mumbai is the financial capital of India. It is one of the world’s top ten centres of commerce in terms of global financial flow generating 5% of India’s GDP and accounting for 25% of industrial output, 70% of maritime trade in India and 70% of capital transactions to India’s economy.

Q-3)   The apex organisation of industrial finance in India is—

(a)

(b)

(c)

(d)

Explanation:

IDBI Bank is an Indian government-owned financial service company, formerly known as Industrial Development Bank of India, headquartered in Mumbai, India.

It was established in 1964 by an Act of Parliament to provide credit and other financial facilities for the development of the fledgling Indian industry. IDBI is one of the leading government banks in India.

Q-4)   Consider the following statements :
  1. The USSR assisted in building of Bhilai Steel Plant.
  2. The British assisted in the building of the Bokaro Steel Plant.
Which of the statements given above is/are correct?

(a)

(b)

(c)

(d)

Explanation:

The Bhilai Steel Plant, located in Bhilai, in the Indian state of Chhattisgarh, was set up with the help of the USSR in 1955.

Bokaro Steel Plant is located in the Bokaro district of Jharkhand. It is the fourth integrated public sector steel plant in India built with Soviet help in 1972.

Q-5)   Which statement is correct regarding the disinvestment policy?
  1. Citizens have every right to own part of the shares of Public Sector Undertakings.
  2. Public Sector Undertakings are the wealth of the Nation and this wealth should rest in the hands of the people.
  3. While pursuing disinvestment, Government has to retain majority shareholding, i.e. at least 51% and management control of the Public Sector Undertakings.

(a)

(b)

(c)

(d)

Explanation:

Q-6)   Consider the following statements :
  1. Miniratna public sector enterprises can be a joint venture, set subsidiary company or overseas office but with certain conditions.
  2. Till now there are less than 50 public sector enterprises that have been given Miniratna status by the Indian government.
Which of the statements given above is/are correct?

(a)

(b)

(c)

(d)

Explanation:

Miniratna public sector enterprises can be a joint venture, set subsidiary company or overseas office but with certain conditions

i.e., Miniratna-I is up to Rs. 500 crore or equal to their net worth, whichever is lower.

Miniratna-II: is up to Rs. 300 crore or up to 50% of their net worth, whichever is lower.

Till now less than 50 public sector enterprises have been given Miniratna status by the Indian government.

Q-7)   Consider the following statements about NLEM :
  1. Essential medicines are those that satisfy the priority healthcare needs of the majority of the population.
  2. The medicines in National List of Essential Medicines (NLEM) should be available at affordable costs.
  3. Currently, there are 376 such medicines NLEM. The government has added medicines for cancer, HIV/AIDS & Hepatitis to the list.
Which of the above is/are correct?

(a)

(b)

(c)

(d)

Explanation:

Essential medicines are those that satisfy the priority healthcare needs of the majority of the population.

The medicines in the National List of Essential Medicines (NLEM) should be available at affordable costs and with assured quality.

Currently, there are 376 such medicines. Govt. has added medicines for cancer. HIV/AIDS & Hepatitis etc. the list.

Q-8)   Consider the following statements: Small-scale industries are in most cases, not as efficient and competitive as the large-scale ones. Yet the government provides preferential treatment and reservations in a range of products to the small firms because of small-scale industries.
  1. provide higher employment on a per-unit capital development basis.
  2. promote a regional dispersion of industries and economic activities.
  3. have performed better in export on manufactured products than the large scale ones.
  4. provide jobs to low-skill workers, who otherwise may not find employment revenues elsewhere.
Which of the above statements are correct?

(a)

(b)

(c)

(d)

Explanation:

Q-9)   Which sentences are correct regarding export in India?
  1. 45%-50% of the Indian Exports is contributed by SSI Sector.
  2. Direct exports from the SSI Sector account for nearly 45% of total exports.
  3. Besides direct exports, it is estimated that smallscale industrial units contribute around 15% to exports indirectly.

(a)

(b)

(c)

(d)

Explanation:

45%-50% of the Indian Exports is contributed by SSI Sector. Direct exports from the SSI Sector account for nearly 35% of total exports.

Besides direct exports, it is estimated that small-scale industrial units contribute around 15% to exports indirectly.

Q-10)   Consider the following statements: Small-scale industries are, in most cases, not as efficient and competitive as large-scale ones. Yet the Government provides preferential treatment and reservations in a range of products to the small firms because small-scale industries
  1. provide higher employment on a per-unit capital deployment basis.
  2. promote a regional dispersion of industries and economical activities.
  3. have performed better in the export of manufactured products than the large scale ones.
  4. provide jobs to low-skill workers, who otherwise may not find employment avenues elsewhere.
Which of the above statements are correct?

(a)

(b)

(c)

(d)

Explanation: