Deck 4: Indian Industrial Policies and Reforms

Question 1

Which of the following is the commercial crop in India?

A)Mustard
B)tobacco
C)Jute
D)All of the above

Answer 1

All of the above

Question 2

Who approves the Fair and Remunerative Price (FRP) of sugarcane?

A)Cabinet Committee on Economic Affairs
B)Commission for Agricultural Costs and Prices
C)Directorate of Marketing and Inspection, Ministry of Agriculture
D)Agricultural Produce Market Committee

Answer 2

Cabinet Committee on Economic Affairs

Question 3

The Green Revolution in India was the outcome of the efforts of who amongst the following?

A)M.S. Swaminathan
B)C. Rangrajan
C)K.V. Kamath
D)Rakesh Mohan

Answer 3

M.S. Swaminathan

Question 4

Consider the following statements and identify the right ones.
i. The Industrial Policy of 1948 was the first industrial policy statement by the Government
ii. It gave leading role to the private sector

A)I only
B)ii only
C)both
D)None of the above

Question 5

Consider the following statements and identify the right ones.
i. As per the 1948 policy, six industries were under the mixed sector
ii. New units could be set up by the private sector

A)i only
B)ii only
C)both
D)None of the above

Question 6

Which of the following was not an objective of the 1956 industrial policy?

A)Development of cooperative sector
B)Expansion of public sector
C)Develop heavy and machine making industries
D)None of the above

Question 7

Consider the following statements and identify the right ones.
i. The 1980 industrial policy emphasized "economic federalism"
ii. Liberal license policies were advocated for agro-based industries

A)I only
B)ii only
C)both
D)None of the above

Question 8

The most urgent problem which prompted the introduction of the New Economic Policy in 1991 was

A)Foreign exchange crisis
B)All of these
C)Poor performance of public sector
D)High tax rate leading to tax evasion

Question 9

Which of the following industries are to be given compulsory licensing?

A)Alcohol
B)Tobacco
C)Drugs and pharmaceuticals
D)All the above

Question 10

Which of the following industries was de-reserved in 1993?

A)Atomic energy
B)Atopic minerals
C)Mining of copper and zinc
D)Railways

Question 11

Which of the following is a nav Ratna category unit?

A)HAL
B)Oil India Limited
C)MTNL
D)All the above

Question 12

Consider the following statements and identify the right ones.
i. The new manufacturing policy aims to create 100 million jobs and increase share of manufacturing sector in the GDP
ii. A special purpose vehicle is created to develop infrastructure on PPP mode

A)I only
B)ii only
C)both
D)None of the above

Question 13

Which of the following statements is correct?

A)The public sector was given a dominant position in the newly Independent India
B)The foreign trade policy post-Independence allowed free trade of all goods and services.
C)Monetary policy post-Independence sought to keep the CRR at a very low level.
D)None of the above.

Question 14

All of the following developments were noticed during 1991 (when economic reforms were enforced) except one. Identify it.

A)National debt was nearly 60 per cent of the GNP of Indi(a)
B)Inflation crossed double digits.
C)Foreign reserves were maintained at a very high level.
D)None of the above.

Question 15

At present only __________ industries are reserved for the public sector.

A)5
B)7
C)8
D)3

Question 16

At present there are only _________ industries for which licensing are compulsory.

A)18
B)3
C)10
D)9

Question 17

At present, in which sector 100 per cent FDI is allowed in India?

A)Defense
B)Drugs and pharmaceuticals
C)Banks
D)Insurance

Question 18

As a result of the New Industrial Policy, 1991:

A)Prior approval of central government is required for establishing new undertakings, and expanding the present undertaking.
B)An industry intending to have more than 100 crores of assets is required to obtain the permission of the central government.
C)Prior approval of central government for establishing new undertakings and expanding existing undertaking is not requir

Question 19

Which of the following is also known as International Bank for Reconstruction and Development?

A)IMF
B)RBI
C)WTO
D)World Bank

Question 20

In which among the following year was 'liberalized industrial policy' in India was announced for the first time?

A)1992
B)1995
C)1991
D)1996

Question 21

Increase in aggregate output of goods and services

A)Economic development
B)Economic planning
C)Economic growth
D)Economy

Question 22

The economic reforms were intended to take the Indian economy into three specific directions which are

A)LPG
B)DPG
C)LDG
D)DLP

Question 23

LPG stands for

A)Liberalisation, Privatisation, Globalisation
B)Liberalisation, Performance, Globalisation
C)Liberalisation, Privatisation, Growth
D)Liberalisation, Performance, Growth

Question 24

Under the industrial policy of 1991, the number of industries reserved for the public sector have been reduced from 17 to

A)8
B)6
C)3
D)5