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

Answer: (a)

NASSCOM is the organisation of companies of Information technology.

Answer: (a)

The Export Promotion Capital Goods (EPCG) scheme was one of the several export promotion initiatives launched by the government in the early ‘90s.

The basic purpose of the scheme was to allow exporters to import machinery and equipment at affordable prices so that they can produce quality products for the export market.

Answer: (a)

In the Sixth Five Year Plan, a shift in the pattern of industrialisation with lower emphasis on heavy industries and more on infrastructure began.

Answer: (a)

The given statement India ranks 4th in the world in terms of production of ceramic tiles is incorrect.

Answer: (c)

Rourkela Steel Plant (RSP) is the first intergrated steel plant in the public sector in India. It was set up with German collaboration with an installed capacity of 1 million tonnes.

Answer: (b)

Drug Price Control Orders (DPCOs) are issued by the Government, in the exercise of the powers conferred under section 3 of the Essential Commodities Act 1955 to ensure that the medicines are listed under the National List of Essential Medicines (NELM) are available at a reasonable price to the general public.

The National List of Essential Medicines (NELM), prepared by the Ministry of Health and Family Welfare, is a list of medicines considered essential and high priority for India’s health needs. It is based on aspects like the prevalence of disease in the population, safety and efficacy of the medicine, and current affordability.

National Pharmaceuticals Pricing Authority (NPPA) is an independent body of experts constituted by the Government of India Resolution in 1997, is under the department of pharmaceuticals, ministry of chemicals and fertilizers. NPPA is responsible for fixing and revising the prices of pharmaceutical products and availability of the medicines in the country as well as the enforcement of DPCO.

The organization is also entrusted with the task of recovering amounts overcharged by manufacturers for the controlled drugs from the consumers. It also monitors the prices of decontrolled drugs in order to keep them at reasonable levels.

For regulating the prices, the ceiling prices are determined based on market-based pricing method, as the maximum mark-up that a retailer can charge over the reference price, which is the simple average of the prices of all the brands with a market share of greater than or equal to 1 per cent based on market data provided by IMS Health, a market research firm.