Practice test

Industry and lpg - Test Set 2

Review 20 exam-focused questions with detailed explanations, then start the interactive test when you are ready.

20 questions

Questions and explanations

  1. Question 1

    India opted for ‘mixed economy’ in:
    1. Framing of the Constitution
    2. Industrial Policy of 1948
    3. Second Five Year Plan
    4. None of the above
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  2. Question 2

    Abid Hussain Committee is related to:
    1. Reform in taxes
    2. Reform in government projects
    3. Reform in small industries
    4. Reform in middle-level industries
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  3. Question 3

    India earns maximum foreign exchange by the export of:
    1. Iron
    2. Tea
    3. Handloom
    4. Textiles
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  4. Question 4

    State Financial Corporations mainly assist in developing:
    1. Irrigation projects
    2. Small-scale industries
    3. Medium-scale industries
    4. Medium & small-scale industries
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  5. Question 5

    The New Industrial Policy in India was announced in 2 phases:
    1. 24 July, 1992; 6 August 1992
    2. 6 July, 1991; 24 August 1991
    3. 24 July, 1991; 6 August 1991
    4. 6 July, 1992; 24 August 1991
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  6. Question 6

    Under MRTP Act 1969, firms were classified as monopolies based on:
    1. Assets above a certain size
    2. High R&D expenditure
    3. Transfer-pricing
    4. Marketing services
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  7. Question 7

    BIFR came into existence in:
    1. 1984
    2. 1987
    3. 1986
    4. 1989
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  8. Question 8

    State Financial Corporations mainly assist in developing:
    1. Agricultural farms
    2. Cottage industry
    3. Large-scale industries
    4. Medium and small-scale industries
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  9. Question 9

    Which industry was de-reserved in 1993?
    1. Atomic energy
    2. Atomic minerals
    3. Mining of copper and zinc
    4. Railways
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  10. Question 10

    First Industrial Policy of India was announced in:
    1. 1948
    2. 1936
    3. 1991
    4. 1990
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  11. Question 11

    New ‘Liberalized Industrial Policy’ was announced in:
    1. 1986
    2. 1991
    3. 1992
    4. 1993
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  12. Question 12

    Ceiling on foreign investment revised in 1991 from 40% to:
    1. 49%
    2. 50%
    3. 51%
    4. 52%
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  13. Question 13

    Which was not an objective of the 1956 Industrial Policy?
    1. Development of co-operative sector
    2. Expansion of public sector
    3. Develop heavy industries
    4. None of the above
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  14. Question 14

    Attitude of Industrial Policy 1991 toward FDI was:
    1. Total rejection
    2. Increase in FDI share
    3. Decrease in FDI share
    4. None
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  15. Question 15

    Disinvestment of PSEs was required due to:
    1. Decreased competitiveness
    2. Increasing subsidy
    3. Capacity underutilisation
    4. All of the above
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  16. Question 16

    IREDA is associated with:
    1. Reconstruction of dams
    2. Development of rural employment
    3. Development of renewable energy
    4. Refund of deposited assets
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  17. Question 17

    Globalization of the Indian economy means:
    1. Establishing business units abroad
    2. Export promotion
    3. Import liberalization
    4. Putting minimum restrictions on trade relations with other countries
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  18. Question 18

    In the nineties:
    1. Growth rate of the primary sector was highest
    2. Growth rate of the secondary sector was highest
    3. Growth rate of the tertiary sector was highest
    4. All the three sectors grew more or less at the same rate
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  19. Question 19

    India’s industrial recession in the nineties started in the year:
    1. 1996-97
    2. 1995-96
    3. 1994-95
    4. 1998-99
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  20. Question 20

    West Bengal's own industrial policy was declared in the year:
    1. 1982
    2. 1994
    3. 1995
    4. 1996
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