industries manufacturing & service sectors section 6 Practice Questions Answers Test with Solutions & More Shortcuts

Answer: (a)

OTCEI was incorporated in 1990 as a Section 25 company under the Companies Act 1956 and is recognized as a stock exchange under Section 4 of the Securities Contracts Regulation Act, 1956.

The Exchange was set up to aid enterprising promoters in raising finance for new projects in a cost-effective manner and to provide investors with a transparent & efficient mode of trading.

Answer: (a)

Land development banks started financing long term loans for more significant rural development activities like rural and cottage industries, rural artisans etc. 

The main purpose of RRB’s is to mobilize financial resources from rural / semi-urban areas and grant loans and advances mostly to small and marginal farmers, agricultural labourers and rural artisans.

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.

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.

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.