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
- Defence and strategic industries were to be the exclusive domain of the government.
- Existing units in basic and key industries could continue in the private sector but no fresh private investment in these sectors was to be allowed.
- Twenty important industries were allowed in the private sector but under the strict supervision of the state.
- All industries not covered by the above three categories were allowed in the private sector under the general supervision of the state.
(a) II & III
(b) I & II
(c) Only I
(d) All the above
The correct answers to the above question in:
Answer: (d)
Defence and strategic industries were to be the exclusive domain of the government. Existing units in basic and key industries could continue in the private sector but no fresh private investment in these sectors was to be allowed.
Twenty important industries were allowed in the private sector but under the strict supervision of the state. All industries not covered by the above three categories were allowed in the private sector under the general supervision of the state.
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Read more industries manufacturing service sectors Based Indian Economy Questions and Answers
Question : 1
In India ‘Report on Currency and Finance’ is the annual publication of
a) RBI
b) Finance Ministry
c) SEBI
d) Finance Commission
Answer »Answer: (a)
In India, ‘Report on Currency and Finance’ is the annual publication of the Reserve Bank of India.
The report highlights the evaluation or devaluation of the rupee as a currency along with it other aspects and projects the financial condition of the economy.
Question : 2
Which of the following can be called as a part of the service sector?
a) Coal mines
b) Textile mills
c) Banking
d) Agricultural
Answer »Answer: (c)
The service sector consists of activities where people offer their knowledge and time to improve productivity.
Examples of tertiary industries may include the following: telecommunication, hospitality industry/tourism, mass media, healthcare/hospitals, information technology, banking, insurance, investment management, accountancy, legal services, consulting, retail sales, real estate, education.
Service Sector - It produces intangible goods, more precisely services instead of Goods.
Question : 3
What are the approaches to disinvestment?
- In all cases of disinvestment, the Government would retain at least 31% equity and the management control.
- All cases of disinvestment are to be decided on a case by case basis
- The Department of Disinvestment is to identify CPSEs in consultation with respective administrative Ministries and submit proposals to the Government in cases requiring an Offer for the Sale of Government equity.
a) II & III
b) Only I
c) I & II
d) All the above
Answer »Answer: (d)
In all cases of disinvestment, the Government would retain at least 51% equity and the management control. All cases of disinvestment are to be decided on a case by case basis.
The Department of Disinvestment is to identify CPSEs in consultation with respective administrative Ministries and submit proposals to the Government in cases requiring an Offer for the Sale of Government equity.
Question : 4
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 : 5
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 : 6
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.
GET Industries, Manufacturing & Service Sectors PRACTICE TEST EXERCISES
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industries manufacturing & service sectors section 2
industries manufacturing & service sectors section 3
industries manufacturing & service sectors section 4
industries manufacturing & service sectors section 5
industries manufacturing & service sectors section 6
industries manufacturing & service sectors section 7
industries manufacturing & service sectors section 8
industries manufacturing & service sectors section 9
industries manufacturing & service sectors section 10
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