industries manufacturing & service sectors section 9 Practice Questions Answers Test with Solutions & More Shortcuts

Answer: (d)

In exercise of the powers conferred by subsection (i) of section 211 of the Companies Act, 2013, the Central Government established the Serious Fraud Investigation Office (SFIO) on the 21st of July, 2015. Earlier this office was established vide Government of India’s Resolution dated 2nd July 2003.

SFIO is a multi-disciplinary organization under the Ministry of Corporate Affairs, consisting of experts in the field of accountancy, forensic auditing, law, information technology, investigation, company law, capital market and taxation for detecting and prosecuting or recommending for prosecution white-collar crimes/frauds.

Answer: (a)

“Udyog Bandhu” is an organization of the State Government of Uttar Pradesh. It assists industrial units in solving time bound establishment and related problems relating to existing and up-coming industries as well.

Answer: (b)

Economic liberalisation in India started with substantial changes in Industrial licensing policy.

The LPG Model ( Liberalisation, privatisation & Globalisation) was introduced by Dr Manmohan Singh in 1991 as India was facing problems of depleting Reserves.

Under liberalization, the Industrial licensing policy was changed and under the new licensing policy the private players can set up their industrial units without obtaining a license from the government and thus private investment in India increased drastically.

Answer: (d)

Large scale iron and steel production was started in 1907 by TISCO established at Jamshedpur. In 1919, the Indian Iron and Steel Company (IISCO) was established at Burnpur. Both TISCO and IISCO are private sector companies.

The first public sector company was ‘Vishwashwaraiya Iron and Steel Works at Bhadravati’.

Answer: (a)

Miniratna public sector enterprises can be a joint venture, set subsidiary company or overseas office but with certain conditions

i.e Miniratna-I is up to Rs. 500 crore or equal to their net worth, whichever is lower.

Miniratna-II: is up to Rs. 300 crores or up to 50% of their net worth, whichever is lower.

Till now less than 50 public sector enterprises have been given Miniratna status by the Indian government.