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
- 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
The correct answers to the above question in:
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.
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Read more industries manufacturing service sectors Based Indian Economy Questions and Answers
Question : 1
Which statement is true regarding employment in India?
- Food products industry has ranked first in generating employment, providing employment to 0.48 million persons (13.1%).
- The next two industry groups were Non-metallic mineral products with the employment of 0.45 million persons (12.2%) and Metal products with 0.37 million persons (10.2%).
- In chemicals & chemical products, machinery parts except for electrical parts, wood products, basic metal industries, paper products & printing, hosiery & garments, repair services and rubber & plastic products, the contribution ranged from 9% to 5%
a) Only III
b) II & III
c) I & II
d) All the above
Answer »Answer: (d)
Question : 2
Which of the following statements are true regarding the "Open Acreage Licensing Policy (OALP)"?
- The policy is for the oil and gas sector
- Any private developer can participate without experience in the oil and gas sector
- Private players can suggest to Government to put specific blocks on bid
- The policy is a part of the New Exploration Licensing Policy
a) (i) & (ii) only
b) (i) & (iii) only
c) (ii) & (iii) only
d) (ii) & (iv) only
Answer »Answer: (b)
The government of India in 2016 launched the Hydrocarbon Exploration and Licensing Policy (HELP) for the exploration and production (E&P) of oil and gas which will replace the New Exploration Licensing Policy (NELP). The following are some of the important features of the policy:
A uniform/single license to enable the EØ&P operators to explore and extract conventional and unconventional oil and gas resources including Coal Bed Methane, Shale Gas/Oil, Tight gas, Gas hydrates and any other resource which falls within the definition of "Petroleum" and "Natural Gas"
Open Acreage Licensing Policy (OALP): Earlier E&P operators were forced to bid for only those blocks which were chosen by the government. Now they can apply for particular areas/blocks they deem to be attractive to invest in, and the Centre will put those areas up for bids.
This is more attractive for prospective operators because, in the past, the blocks are chosen by the government often were large swathes of land or sea in which only a small fraction had hydrocarbon reserves. By offering companies the freedom to choose exactly the areas they want to explore, and their size, the government has a better chance to woo serious energy investors in an effort to help achieve a more cohesive framework of the country’s energy security.
The E&P operators will have to bid for the blocks based on a revenue-sharing model rather than profit sharing. Bidders will be required to quote % of revenue share to the Govt. in their bids which will be a key parameter for selecting the winning bid. In this model the operator will have to share the revenue with the government from the first year of production notwithstanding the operator is making a profit or loss.
This model does not require auditing of costs incurred by the operator but is riskier for investors as it requires sharing of the revenues with the government from the first year itself before the operators have recovered their costs and even if they are making losses.
National Data Repository, which is envisaged as a centralized database of geological and hydrocarbon information, in line with the Digital India initiative, will be available to all. Besides allowing potential investors to make informed decisions, this will open up a new sector in India.
There are a number of companies around the world that make it their business to simply explore hydrocarbon basins and sell the information they gather. The new initiative seeks to incentivise such prospectors.
Question : 3
Which company adopted the Taj Mahal through the ‘Clean India Campaign’ of tourism ministry?
a) HPCL
b) ONGC
c) Indian Oil
d) BPCL
Answer »Answer: (b)
With an aim to attract more visitors to the country by improving cleanliness and hygiene at tourist destinations, Tourism Ministry launched the “Clean India” campaign at the world heritage site Taj Mahal, which has been adopted by ONGC.
It is the second site to be covered under this project. The first one was Qutub Minar.
Question : 4
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 : 5
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 : 6
What were the modified policies of government after the 1950s?
- 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
Answer »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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industries manufacturing & service sectors section 10
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