industries manufacturing & service sectors section 6 MCQ Questions & Answers Detailed Explanation
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The following question based on Industries, Manufacturing & Service Sectors topic of indian economy mcq
(a) Chennai
(b) Coimbatore
(c) Thiruvananthapuram
(d) Kochi
The correct answers to the above question in:
Answer: (a)
Anna International Airport is located in Chennai of Tamil Nadu. First international airport to get ISO-9001-2000 certification.
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Question : 1
With reference to India, consider the following Central Acts
- Import and Export (Control) Act, 1947
- Mining and Mineral Development (Regulation) Act, 1957
- Custom Act, 1962
- Indian Forest Act. 1927
a) 1 and 3
b) 2 and 3
c) 1, 2, 3 and 4
d) None of these
Answer »Answer: (c)
Important Govt. of India Central Acts and Rules having Relevance to Biodiversity Conservation:
- Fisheries Act, 1897,
- Destructive Insects and Pests Act, 1914,
- The Indian Forest Act, 1927,
- Agricultural Produce (Grading and Marketing) Act, 1937,
- Indian Coffee Act, 1942,
- Import and Export (Control) Act, 1947,
- Rubber (Production and Marketing) Act, 1947,
- Tea Act, 1953,
- Mining and Mineral Development (Regulation) Act, 1957,
- Prevention of Cruelty to Animals Act, 1960,
- Customs Act, 1962,
- Cardamom Act, 1965,
- Seeds Act, 1966,
- The Patents Act, 1970,
- Wildlife (Protection) Act, 1972,
- Marine Products Export Development Authority Act,1972,
- Water (Prevention and Control of Pollution) Act, 1974,
- Tobacco Board Act, 1975,
- Territorial Water, Continental Shelf, Exclusive Economic Zone and other Maritime Zones Act, 1976,
- Water (Prevention and Control of Pollution) Cess Act, 1977,
- Maritime Zones of India (Regulation and Fishing by Foreign Vessels) Act. 1980,
- Forest (Conservation) Act, 1980,
- Air (Prevention and Control of Pollution) Act, 1981,
- Agricultural and Processed Food Products Export Development Authority Act, 1985/1986,
- Environment (Protection) Act, 1986,
- Spices Board Act, 1986,
- National Dairy Development Board, 1987 etc.
Question : 2
OTCEI is—
a) An Indian Share Market
b) Atomic Submarine of China
c) A defence research organisation
d) Economic Policy of USA
Answer »Answer: (a)
OTCEI was incorporated in 1990 as a Section 25 company under the Companies Act 1956 and is recognized as a stock exchange under Section 4 of the Securities Contracts Regulation Act, 1956.
The Exchange was set up to aid enterprising promoters in raising finance for new projects in a cost-effective manner and to provide investors with a transparent & efficient mode of trading.
Question : 3
Which of the following grants / grant direct credit assistance to rural households?
- Regional Rural Banks
- National Bank for Agriculture and Rural Development
- Land Development Banks
a) 1 and 3 only
b) 2 only
c) 1 and 2 only
d) 1, 2 and 3
Answer »Answer: (a)
Land development banks started financing long term loans for more significant rural development activities like rural and cottage industries, rural artisans etc.
The main purpose of RRB’s is to mobilize financial resources from rural / semi-urban areas and grant loans and advances mostly to small and marginal farmers, agricultural labourers and rural artisans.
Question : 4
Consider the following statements :
- The first petrochemical industry in India was started with the establishment of the National organic chemical industry limited in the sixties.
- The real thrust of the petrochemical industry in India came with the establishment of the Indian Petrochemical Corporation Limited (IPCL) at Baroda.
a) Both 1 and 2
b) 2 only
c) 1 only
d) Neither 1 nor 2
Answer »Answer: (a)
The first petrochemical industry in India was started with the establishment of National Organic Chemical Industry Limited in 1961.
The company manufacture various organic and inorganic chemicals. The real thrust of the Petrochemical industry in India came with the establishment of Indian Petrochemical Corporation Limited (IPCL) at Baroda on March 22, 1969, with a view to promote and encourage the use of plastics in India.
Question : 5
What is/are the recent policy initiative(s) of Government of India to promote the growth of manufacturing sector?
- Setting up of National Investment and Manufacturing Zones.
- Providing the benefit of ‘single window clearance’.
- Establishing the Technology Acquisition and Development Fund.
a) 1 and 3
b) 2 and 3
c) 1 only
d) 1, 2 and 3
Answer »Answer: (a)
Question : 6
Which statements are correct regarding Industrialization post-1990?
- Exemption from licensing was allowed for all startups and for those with an investment worth Rs. 2.5 crores in fixed assets and a right to import up to 30% of the total value of plant and machinery.
- The foreign equity investment was allowed up to 70%.
- Geographical restrictions and investment cap for small industries were removed.
a) I & III
b) Only II
c) I & II
d) All the above
Answer »Answer: (a)
Exemption from licensing was allowed for all startups and for those with an investment worth Rs. 2.5 crores in fixed assets and a right to import up to 30% of the total value of plant and machinery.
The foreign equity investment was allowed up to 40%. Geographical restrictions and investment cap for small industries were removed.
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industries manufacturing & service sectors section 6
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industries manufacturing & service sectors section 10
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