industries manufacturing & service sectors section 3 MCQ Questions & Answers Detailed Explanation

Answer: (a)

FEMA (Foreign Exchange Management Act) was finally implemented in the year 2002 to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India”.

It replaced Foreign Exchange Regulation Act (FERA)

Answer: (d)

Kisan Urja Suraksha evam Utthaan Mahabhiyan (KUSUM) Scheme is for harnessing solar power for rural India. Solar water pumps to be installed in remote areas for irrigation needs Farmers can get extra income by selling surplus solar power to DISCOMs.

The following are the main components of the scheme:

1. Installation of grid-connected solar power plants each of capacity up to 2 MW in the rural areas;
2. Installation of standalone off-grid solar water pumps to fulfil irrigation needs of farmers not connected to the grid;
3. Solarization of existing grid-connected agriculture pumps to make farmers independent of grid supply and also enable them to sell surplus solar power generated to DISCOM and get extra income; and
4. Solarization of tube-wells and lift irrigation projects of the Government sector.

Answer: (d)

The Electronic industry is responsible for the generation of employment. Bangalore is the hub of the electronic industry in the country and is called the electronic city.

There are approximately 200 IT/ITES companies located in Electronics City which have employed many unemployed in various fields.

Answer: (c)

In February 2007, a “Package for Promotion of Micro and Small Enterprises” was announced.

This includes measures addressing concerns of credit, fiscal support, cluster-based development, infrastructure, technology, and marketing.

Capacity building of MSME Associations and support to women entrepreneurs are the other important attributes of this package.

Answer: (a)

Crude oil is the basic raw material upon which all refinery processes are founded.

Answer: (d)