industries manufacturing & service sectors section 7 MCQ Questions & Answers Detailed Explanation
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The following question based on Industries, Manufacturing & Service Sectors topic of indian economy mcq
- The Foreign Exchange and Regulation Act (FERA) was passed in 1980.
- This resulted in a tremendous shift in the foreign investment policy of the Government of India.
- Foreign Investment was allowed in only those industries that were directly into exports.
(a) II & III
(b) Only III
(c) I & II
(d) All the above
The correct answers to the above question in:
Answer: (a)
The Foreign Exchange and Regulation Act (FERA) was passed in 1973. This resulted in a tremendous shift in the foreign investment policy of the Government of India.
Foreign Investment was allowed in only those industries that were directly into exports.
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Read more industries manufacturing service sectors Based Indian Economy Questions and Answers
Question : 1
Mobile commerce service M Pesa is an initiative of whom among the following?
- Vodafone India
- ICICI Bank
- Airtel
- HDFC
a) 3 and 4
b) 1, 2 and 4
c) 1 and 2
d) 2 and 3
Answer »Answer: (c)
M-Pesa is a mobile money transfer and payment service that is a joint initiative of Vodafone and ICICI that allows customers to transfer money to any mobile phone, remit money to any bank account, make utility payments, recharge of mobile, DTH payment and earn interest on deposits.
Question : 2
Consider the following statements regarding multi-brand FDI in retail:
- 51% FDI is allowed in inventory-based model of e-commerce
- 51% FDI is allowed in brick and mortar model
- 100% FDI is allowed in all models for food products sourced from Indian farmers or manufactured in India
a) (ii) only
b) (ii) & (iii) only
c) (iii) only
d) All of the above
Answer »Answer: (b)
But, 100% FDI is allowed in all models of retail for food products sourced from Indian farmers or processed/manufactured in India. This has been allowed thinking about the farmers in India.
Question : 3
In the context of the present ceiling on investment for categorization of various enterprises as Micro, Small and Medium Manufacturing Enterprises (MSMEs), which of the following statements are correct:
- A microenterprise is an enterprise where the investment in equipment does not exceed Rs. 25 lakh.
- A small enterprise is an enterprise where the investment in equipment is more than Rs. 25 lakh but does not exceed Rs. 5 crores.
- A medium enterprise is an enterprise where the investment in equipment is more than Rs. 5 crore but does not exceed Rs. 10 crore.
a) Only 3
b) Only 2
c) Only 1
d) All of them
Answer »Answer: (d)
Question : 4
Identify the correct sequence of the establishment of steel plant in India from the earliest to the latest.
a) Jamshedpur–Bhilai, Bokaro–Vishakhapatnam
b) Bhilai, Jamshedpur, Vishakhapatnam, Bokaro
c) Bokaro–Jamshedpur, Vishakhapatnam, Bhilai
d) Jamshedpur, Bokaro, Bhilai, Vishakhapatnam
Answer »Answer: (a)
TISCO was founded in 1907 by Dorabji Tata. The Bhilai Steel Plant, located in Bhilai, in the Indian state of Chhattisgarh, was set up with the help of the USSR in 1955. Bokaro Steel Plant is located in the Bokaro district of Jharkhand.
It is the fourth integrated public sector steel plant in India built with Soviet help in 1972. Visakhapatnam Steel Plant, popularly known as Vizag Steel, is the most advanced steel producer in India with the help of German and soviet technology founded in 1974.
Question : 5
The SEZ Act 2005 which came into effect in February 2006 has certain objectives? In this context consider the following :
- Development of infrastructure facilities
- Promotion of investment from foreign sources.
- Promotion of export of services only.
a) 2 only
b) 2 and 3
c) 1 and 2
d) 1, 2 and 3
Answer »Answer: (c)
The main objectives of the SEZ Acts 2005, is to develop infrastructure facilities and to promote investment from foreign sources.
Question : 6
Which statement is correct regarding the cotton industry?
- The first Indian modernised cotton mill, located in Kolkata in 1818
- The second mill named ‘Bombay Spinning and Weaving Co.’ was established in 1854 at Bombay by KGN Daber
- There were 394 cotton mills in India before the partition
a) Only II
b) II & III
c) I & II
d) All the above
Answer »Answer: (d)
GET Industries, Manufacturing & Service Sectors PRACTICE TEST EXERCISES
industries manufacturing & service sectors section 1
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
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industries manufacturing & service sectors section 10
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