industries manufacturing & service sectors section 4 MCQ Questions & Answers Detailed Explanation
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The following question based on Industries, Manufacturing & Service Sectors topic of indian economy mcq
(a) Nov. 2000
(b) Nov. 1998
(c) Feb. 2002
(d) Dec. 1999
The correct answers to the above question in:
Answer: (a)
In Nov. 2000, the policy of Special Economic Zone (SEZ) in India was implemented with a view to overcome the shortcomings experienced on account of the multiplicity of controls and clearances; absence of world-class infrastructure, and with a view to attract larger foreign investment in India.
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Question : 1
Consider the following statements :
- MMTC limited is India’s largest international trading organisation.
- Neelanchal Ispat Nigam Limited has been set up by MMTC jointly with the government of Odisha.
a) Both 1 and 2
b) 2 only
c) 1 only
d) Neither 1 nor 2
Answer »Answer: (a)
MMTC Ltd., Metals and Minerals Trading Corporation of India, is one of the two highest earners of foreign exchange for India and India’s largest public-sector trading body.
Neelanchal Ispat Nigam Limited (NINL), is a company promoted by MMTC Ltd, Industrial Promotion and Investment Corporation of Orissa Limited (IPICOL).
Question : 2
Consider the following statements :
- Small Industry Development Bank of India (SIDBI) was set up as a whole owned subsidiary of the RBI.
- SIDBI has taken over the responsibility of administering small industry development funds managed by the IDBI.
a) 2 only
b) Both 1 and 2
c) 1 only
d) Neither 1 nor 2
Answer »Answer: (a)
Small Industries Development Bank of India is a non-independent financial institution aimed to aid the growth and development of micro, small and medium-scale enterprises.
It was incorporated initially as a wholly-owned subsidiary of the Industrial Development Bank of India.
SIDBI has taken over the responsibility of administering small industry development funds managed by the IDBI.
Question : 3
On which date is the establishment of State Bank of India celebrated?
a) 1st July
b) 1st January
c) 15th October
d) 19th June
Answer »Answer: (a)
1st July is celebrated as the establishment date of the State Bank of India. On 1 July 1955, the Imperial Bank of India became the State Bank of India.
SBI is a multinational banking and financial services company based in India. It is a government-owned corporation with its headquarters in Mumbai.
It has assets of US$388 billion and 16,000 branches, including 190 foreign offices, making it the largest banking and financial services company in India by assets.
Question : 4
Consider the following statements :
- MMTC limited is India’s largest international trading organisation.
- Neelanchal Ispat Nigam Limited has been set up by MMTC jointly with the government of Odisha.
a) 2 only
b) Both 1 and 2
c) 1 only
d) Neither 1 nor 2
Answer »Answer: (b)
MMTC Ltd., Metals and Minerals Trading Corporation of India, is one of the two highest earners of foreign exchange for India and India’s largest public-sector trading body.
Neelachal Ispat Nigam Limited (NINL), is a company promoted by MMTC Ltd, Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL).
Question : 5
The term ‘bilateral netting’ is related to which of the following?
a) Power sector contracts
b) Inter-government contracts
c) Financial contracts
d) Tax avoidance related contracts
Answer »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)
Question : 6
Consider the following sectors of the Indian economy with respect to share of employment.
- Agriculture sector
- Industrial sector
- Services sector
a) 1, 3, 2
b) 3, 1, 2
c) 1, 2, 3
d) 3, 2, 1
Answer »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.
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industries manufacturing & service sectors section 10
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