industries manufacturing & service sectors section 2 MCQ Questions & Answers Detailed Explanation

Answer: (a)

Answer: (b)

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.

Answer: (a)

The Supreme Court of India in September 2014 had cancelled 204 coal mines/blocks allocated to the various Government and Private Companies since 1993 under the provisions of the Coal Mines (Nationalisation) Act, 1973. To bring transparency and accountability and to re-award these cancelled blocks and new blocks, the Coal Mines (Special Provisions) Bill 2015 was passed by the Parliament which was notified as an Act on 30.03.2015.

Enabling (power to enforce a law may be at a later date) provisions had been made in the Coal Mines (Special Provisions) Act, 2015 for allocation of coal mines by way of the auction for the sale of coal by private companies (sale of coal by government companies was already allowed).

Cabinet Committee on Economic Affairs (CCEA) on 20th Feb 2018 decided to open up the coal sector to commercial mining by private entities in a game-changing move that puts an end to state-backed Coal India Ltd’s (CIL) monopoly. Now there will be no end-use restriction or price restriction for the coal that is mined from these blocks.

Under private commercial mining modalities approved by the Cabinet, coal blocks will be allocated by “ascending forward auction” in which the winner will be determined by the price per tonne of coal offered to the state government where the mine is located.

The amount accrued through the bids will be in addition to the royalty that the States get. All the revenue from the sale of these blocks will go into the coffers of the States where they are located.

Answer: (d)

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.

Answer: (c)

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

Answer: (d)

GCIL—an American company of chemical sector has been acquired by Tata Group.