industries manufacturing & service sectors section 4 MCQ Questions & Answers Detailed Explanation

Answer: (b)

Answer: (a)

In Indian economy the sectors from highest to lowest in terms of employment are agriculture sector around 50%, service sector around 35% and Industrial sector.

Answer: (c)

A bilateral netting agreement enables two counterparties in a financial contract to offset claims against each other to determine a single net payment obligation due from one counterparty to the other.

As of now, bilateral netting for financial contracts is not allowed in India and the government is planning to introduce a bill. (No need to go into detail)

Answer: (b)

Based on the recommendations of the Rangarajan Commission, the government through a resolution dated 1st June 2005 set up the National Statistical Commission (NSC) which became effective from 12th July 2006.

The mandate of the NSC is to evolve policies, priorities and standards in statistical matters.

The Chief Statistician of India, the post created specifically as the Head of the National Statistical Office is the Secretary of the Commission.

He is also the Secretary to the Government of India in the Ministry of Statistics and Programme Implementation.

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: (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.