Practice Quiz set 2 - indian economy mcq Online Quiz (set-1) For All Competitive Exams

Q-1)   The base of Consumer Price Index for Industrial Workers is being shifted from 1982 to—

(a)

(b)

(c)

(d)


Q-2)   Which of the following regulatory bodies completed 25 years of its establishment in 2013?

(a)

(b)

(c)

(d)

Explanation:

SEBI, the regulatory body completed 25 years of its establishment in 2013.

It was formed in the year 1988 to protect the interests of investors in securities and to promote the development and regulate the securities market.


Q-3)   Consider the following statements :
  1. The erratic trend in the production of sugar is mainly due to monsoons.
  2. The output ofsugar isinfluenced by both cane and Gur prices.
Which of the statements given above is/are correct?

(a)

(b)

(c)

(d)

Explanation:

The erratic trend in production of sugar is mainly due to monsoons and the output ofsugar isinfluenced by both cane and gur prizes.


Q-4)   In which city the government has planned the establishment of a Central Aviation University?

(a)

(b)

(c)

(d)

Explanation:

The first-ever national aviation university in the country named after Rajiv Gandhi to train pilots, cabin crew and aircraft engineers would come up at Rai Bareli in Uttar Pradesh.


Q-5)   Consider the following statements :
  1. The first petrochemical industry in India was started with the establishment of the National organic chemical industry limited in the sixties.
  2. The real thrust of the petrochemical industry in India came with the establishment of the Indian Petrochemical Corporation Limited (IPCL) at Baroda.
Which of the statements given above is/are correct:

(a)

(b)

(c)

(d)

Explanation:

The first petrochemical industry in India was started with the establishment of National Organic Chemical Industry Limited in 1961.

The company manufacture various organic and inorganic chemicals. The real thrust of the Petrochemical industry in India came with the establishment of Indian Petrochemical Corporation Limited (IPCL) at Baroda on March 22, 1969, with a view to promote and encourage the use of plastics in India.


Q-6)   Consider the following statements :
  1. The expansion of the public sector was based on industrial policy resolution 1956.
  2. The government has announced the new industrial policy in July 1991.
  3. The government has not announced the industrial policy at all.
The correct statements are :

(a)

(b)

(c)

(d)

Explanation:

The expansion of the public sector was based on industrial policy resolution, 1956. The government announced the new industrial policy in July 1991.

The first industrial policy of the government was announced in April 1948.

Subsequently, Industrial Policy resolutions were announced in 1956, 1980, 1990 and 1991.


Q-7)   Consider the following statements :
  1. The packaging machinery industry, like other industrial machinery, is allowed for 100%. FDI under automatic approval.
  2. Food processing machinery can be classified under the general category of industrial machinery which is de-licensed under the current industrial policy and qualifies for 100% FDI under automatic approval.
Which of the statements given above is/are correct?

(a)

(b)

(c)

(d)

Explanation:

The packaging machinery industry, like other industrial machinery, is allowed for 100%.

FDI under automatic approval i.e., without prior approval either of the government or the Reserve Bank of India.

Food processing machinery can be classified under the general category of industrial machinery which is de-licensed under the current industrial policy and qualifies for 100% FDI under automatic approval.


Q-8)   What is/are the recent policy initiative of the government of India to promote the growth of the manufacturing sector?
  1. Setting up of National Investment and Manufacturing Zones.
  2. Providing the benefit of single window clearance.
  3. Establishing the technology acquisition and development fund.
Select the correct answer using the codes given below :

(a)

(b)

(c)

(d)

Explanation:

The recent policy initiative of the government of India to promote the growth of the manufacturing sector is setting up

  1. National Investment and manufacturing zones,
  2. providing the benefit of single window clearance and establishing the technology acquisition and development.


Q-9)   What is CRISIL ?

(a)

(b)

(c)

(d)

Explanation:

CRISIL is the Credit Rating Agency of India. CRISIL’s majority shareholder is Standard and Poor’s (S&P).


Q-10)   Consider the following statements regarding the SFURTI scheme:
  1. It is implemented by Ministry of MSME
  2. It promotes cluster-based development
Select the correct answer using the code given below:

(a)

(b)

(c)

(d)

Explanation:

Ministry of MSME is implementing a ‘Scheme of Fund for Regeneration of Traditional Industries’ (SFURTI) Scheme under which financial support is being provided for setting up of traditional industries clusters viz. Khadi, Coir & Village industries clusters.

The objectives of the SFURTI Scheme are:

  1. To develop clusters of traditional industries in the country over a period of five years.
  2. To make traditional industries more competitive, market-driven, productive and profitable.
  3. To strengthen the local governance system of industry clusters, with the active participation of the local stakeholders, so that they are enabled to develop initiatives.
  4. To build up innovative and traditional skills, improved technologies, advanced processes, market intelligence and new models of public-private partnerships, so as to gradually replicate similar models of cluster-based regenerated traditional industries.