industries manufacturing & service sectors section 1 MCQ Questions & Answers Detailed Explanation

Answer: (b)

On August 10, 2005, a ‘Policy Package for Setting up Credit to Small and Medium Enterprises’ was announced with the objective to double the credit flow to the sector within a period of five years.

Answer: (b)

Import and Export (control) Act 1947 restricts the import and export of endangered species and their by-products.

Mining and Mineral Development (Regulation) Act 1957 restricts mining in protected areas. Custom Act 1962 again links to import and export.

Indian Forest Act 1927 restricts construction and encroachment in restricted and protected areas.

Answer: (d)

ASSOCHAM Head Quarter - New Delhi,

President - Sunil Kanoria R. Shivakumar has been appointed as the chairman of ASSOCHAM.

Chanda Kochar - MD & CEO of ICICI Bank.

Answer: (c)

The industries established in rural areas having populations below 10,000 and having less than Rs. 15,000 as fixed capital investment per worker will be termed as village industries.

KVIC and state village Industries Board provide economic and technical assistance in establishing and operating these industrial units.

Answer: (a)

As the economy develops, the share of the tertiary sector in the GDP increases. As economy develops people develop more skills and knowledge which they offer as services.

Answer: (a)

SIDBI Make in India Soft Loan Fund for Micro, Small & Medium Enterprises (SMILE) scheme:

The objective of the Scheme is to provide soft loans (mainly long-term loans) on relatively soft terms to MSMEs to meet the required debt-equity ratio for the establishment of an MSME as also for pursuing opportunities for growth for existing MSMEs. The focus is on all the identified 25 Make in India sectors or other sectors as may be added, in the Make in India Programme.

Emphasis will be on covering new enterprises in the manufacturing as well as services sector. Existing enterprises will also be covered which are undertaking expansion, to take advantage of new emerging opportunities, as also undertaking modernization, technology up-gradation or other projects for growing their business.