industries manufacturing & service sectors section 8 MCQ Questions & Answers Detailed Explanation
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The following question based on Industries, Manufacturing & Service Sectors topic of indian economy mcq
(a) Rs.2000 crores
(b) Rs.500 crores
(c) Rs.1000 crores
(d) Rs.1500 crores
The correct answers to the above question in:
Answer: (b)
A Miniratna company is one that has made profits continuously for the last three years or earned a net profit of Rs. 30 crores or more in one of the three years.
Miniratna company can invest up to Rs. 500 crores or equal to their net worth, whichever is lower without govt approval.
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Question : 1
The licensing policy for the industries drew strength from:
a) Industrial Policy Resolution, 1956
b) Congress Party Resolution of establishing socialistic pattern of society
c) Industrial Policy Resolution, 1948
d) Industrial Act, 1951
Answer »Answer: (d)
The licensing policy for the industries drew strength from the industrial Act, 1951.
Industries Development and Regulation Act (IDRA), 1951 was enacted in pursuance of the Industrial Policy Resolution, 1948.
The Act was formulated for the purpose of development and regulation of industries in India by the Central Government.
Question : 2
Which of the following statements are true regarding the term ‘Force Majeure’ which was recently in the news?
- It is generally treated as a breach of contract
- Unforeseeable circumstances that prevent someone from fulfilling a contract
- Includes an Act of God or natural disasters, war or war-like situations, epidemics, pandemics, etc.
a) (i) & (iii) only
b) (iii) only
c) (ii) & (iii) only
d) All of the above
Answer »Answer: (c)
Force Majeure is a French phrase that means a ‘superior force’. It is an unforeseeable circumstance that prevents someone from fulfilling a contract. It is a contractual provision agreed upon between parties.
The occurrence of a force majeure event protects a party from liability for its failure to perform a contractual obligation. Typically, force majeure events include an Act of God or natural disasters, war or war-like situations, epidemics, pandemics, etc.
The intention of a force majeure clause is to save the performing party from the consequences of something over which it has no control.
Force Majeure is an exception to what would otherwise amount to a breach of contract. This term is generally used in commercial contracts.
Question : 3
Which of the following statements are true regarding the “Swiss challenge”?
a) It is a game
b) It is related to lottery business
c) It is a method of awarding projects by the government
d) None of the above
Answer »Answer: (c)
It is a method of awarding projects by the government.
Under this method, various bidders submit their plan for the project and the company (the bidder) whose project plan is accepted by the govt. is given the opportunity to work on the project at the price quoted by the lowest bidder.
If it does not accept this, then the project is given to the lowest bidder.
Question : 4
RBI’s first census of India’s foreign Assets & Liability as on 30 June 1948 revealed total foreign business investments of Rs. 302 cr, out of it what was the % of British investments in India?
a) 72 %
b) 51 %
c) 91 %
d) 60 %
Answer »Answer: (a)
Question : 5
What would be the new investment ceiling rate for Maharatna Public Sector Enterprises?
a) Rs. 7000 crore
b) Rs. 2000 crore
c) Rs. 5000 crore
d) Rs. 10000 crore
Answer »Answer: (c)
The government has relaxed norms for giving Maharatna status to public sector enterprises, a move that will benefit blue-chip companies such as Coal India, GAIL, BHEL and NMDC in their expansion plans.
Only four state-run companies --ONGC, SAIL, IOC and NTPC -- at present enjoy the Maharatna status, which gives them the financial and managerial autonomy to invest up to Rs. 5,000 crore in a new venture without seeking government approval.
Under the new norms, a company qualifying for the Maharatna status should have an average annual turnover of Rs. 20,000 crore during the last three years against Rs. 25,000 crore prescribed earlier.
Further, the criteria on average annual net worth have been relaxed to Rs. 10,000 crore from the earlier limit of 15,000 crores.
Question : 6
Consider the following statements about Special Drawing Rights (SDR):
- It is an international financing instrument.
- It is created in 2000.
- It is neither paper nor gold but an accounting entry.
- IMF is associated with it.
a) 1 and 3
b) 1, 3 and 4
c) 1 and 2
d) 1, 2 and 3
Answer »Answer: (b)
SDR (Special Drawing Rights) is an international financing instrument created in 1970 by the International Monetary Fund (IMF).
It is also called paper gold, an SDR is neither paper nor gold but an accounting entry.
It is not backed by any currency or precious metal and is used only among governments and IMF for the balance of payments settlements.
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industries manufacturing & service sectors section 2
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industries manufacturing & service sectors section 10
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