introduction to indian economy section 11 MCQ Questions & Answers Detailed Explanation

Answer: (a)

The upper limit of investment in plant and machinery for small-scale industries has been fixed at Rs. one crore.

Answer: (c)

At the national level, the Central Statistical Organisation (CSO) is the apex statistical body with the primary objective of providing technical leadership in building up the statistical system in the country.

It has been charged with the responsibility of coordinating activities in the country, laying down and maintenance standards relating to concepts, definitions, methodologies, procedures etc, providing consultancy and advisory services to other statistical agencies, computing of national income, keeping liaison with the international statistical agencies, preparing and publishing national accounts statistics, processing, analysing and publication of industrial statistics, the conduct of economic censuses, etc.

Answer: (b)

Globalization can affect the labour market by increasing the capacity of developing countries to create new opportunities for work and production following the alleviation of price distortions with respect to both labour and capital. Globalization on business management is the interconnection of international markets and managing businesses in a global industry.

This includes the management of resources for foreign investments whereby a company expands its business and invests in foreign countries. Globalization means inter-linkage among the countries of the globe. This can only happen when infrastructure is in proper shape.

A well-developed infrastructure is an indispensable condition for faster globalization.

Answer: (b)

NABARD stands for National Bank for Agriculture and Rural Development.

It was established on 12 July 1982 by a special Act of parliament to focus on the upliftment of rural India by increasing the credit flow for elevation of agriculture & rural non-farm sector. It is headquartered in Mumbai (Maharashtra).

Answer: (b)

Net national income (NNI) is an economics term used in national income accounting. It can be defined as the net national product (NNP) minus indirect taxes. Net national income encompasses the income of households, businesses, and the government.

Answer: (b)

Indian economy is increased by real per capita income