introduction to indian economy section 6 MCQ Questions & Answers Detailed Explanation

Answer: (a)

The Central Statistics Organization, established in 1951, is responsible for the coordination of statistical activities in the country, and evolving and maintaining statistical standards.

Its activities include National Income Accounting; conduct of Annual Survey of Industries, Economic Censuses and its follow up surveys, a compilation of Index of Industrial Production, as well as Consumer Price Indices for Urban NonManual Employees, Human Development Statistics, Gender Statistics, imparting training in Official Statistics, Five Year Plan work relating to Development of Statistics in the States and Union Territories; dissemination of statistical information, work relating to trade, energy, construction, and environment statistics, revision of National Industrial Classification, etc.

Answer: (c)

On July 19, 1969, 14 commercial banks were nationalized, which got presidential approval on August 9, 1969. In 1980, in order to provide government more power and command over credit delivery, six more commercial banks in India were nationalized. If the associate banks of State Bank of India are counted, then the number goes to 27.

Answer: (c)

In April 2011, Coal India Limited (CIL) was conferred the Maharatna status by the Union Government of India and ranked as one of India's most valuable companies by market value. It is the world's largest coal miner with revenue exceeding Rs.624.15 billion in 2012.

Answer: (a)

The Fifth Five-Year Plan (1974–1979) laid stress on employment, poverty alleviation, and justice. The plan also focused on self-reliance in agricultural production and defence.

Answer: (c)

The Government of India nationalized 14 major commercial banks in July 1969. This was followed by a second phase of nationalization in 1980, when Government of India acquired the ownership of 6 more banks, thus bringing the total number of nation-alised banks to 20.

Answer: (c)

The headquarters of the Reserve Bank of India (RBI) is located in Mumbai, Maharashtra. Initially, the headquarter of RBI was in Calcutta (now Kolkata) but in 1937 it was permanently moved to Bombay (now Mumbai).

The RBI commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934.