Chapter: Industrial Development in India since independence
1.

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
Answer» A. I only
2.

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
Answer» A. i only
3.

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
Answer» D. None of the above
4.

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
Answer» C. both
5.

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
Answer» B. All of these
6.

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

A. Alcohol
B. Tobacco
C. Drugs and pharmaceuticals
D. All the above
Answer» D. All the above
7.

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

A. Atomic energy
B. Atopic minerals
C. Mining of copper and zinc
D. Railways
Answer» C. Mining of copper and zinc
8.

Which of the following is not a Maha-Ratna industry?

A. GAIL
B. Coal India Limited
C. SAIL
D. Airports Authority of India
Answer» D. Airports Authority of India
9.

Which of the following is a nav Ratna category unit?

A. HAL
B. Oil India Limited
C. MTNL
D. All the above
Answer» D. All the above
10.

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
Answer» C. both
11.

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.
Answer» A. The public sector was given a dominant position in the newly Independent India
12.

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.
Answer» C. Foreign reserves were maintained at a very high level.
13.

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

A. 5
B. 7
C. 8
D. 3
Answer» D. 3
14.

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

A. 18
B. 3
C. 10
D. 9
Answer» B. 3
15.

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

A. Defense
B. Drugs and pharmaceuticals
C. Banks
D. Insurance
Answer» B. Drugs and pharmaceuticals
16.

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
Answer» C. Prior approval of central government for establishing new undertakings and expanding existing undertaking is not requir
17.

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

A. IMF
B. RBI
C. WTO
D. World Bank
Answer» D. World Bank
18.

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
Answer» C. 1991
19.

Increase in aggregate output of goods and services

A. Economic development
B. Economic planning
C. Economic growth
D. Economy
Answer» C. Economic growth
20.

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

A. LPG
B. DPG
C. LDG
D. DLP
Answer» A. LPG
21.

LPG stands for

A. Liberalisation, Privatisation, Globalisation
B. Liberalisation, Performance, Globalisation
C. Liberalisation, Privatisation, Growth
D. Liberalisation, Performance, Growth
Answer» A. Liberalisation, Privatisation, Globalisation
22.

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
Answer» A. 8
23.

The main source of foreign capital in India is

A. Loans from abroad
B. None
C. Foreign direct investment
D. Both A and C
Answer» D. Both A and C
24.

In which among the following year the MRTP act become effective

A. 1980
B. 1960
C. 1970
D. 1990
Answer» C. 1970
25.

LQP raj refers to

A. license, quota, Privatisation raj
B. liberalisation, quota, permit raj
C. license, quota, permit raj
D. license, quarter, Privatisation raj
Answer» C. license, quota, permit raj
26.

Which act was removed under NEP

A. MRMP
B. MDPE
C. MRRP
D. MRTP
Answer» D. MRTP
27.

The NEP in 1991 was initiated by the

A. Prime Minister
B. Foreign Minister
C. Home Minister
D. Finance Minister
Answer» D. Finance Minister
28.

There are three industries which are reserved for the public sector except

A. Railway transport
B. Atomic energy
C. Defence equipment
D. Electricity
Answer» D. Electricity
29.

During the economic crisis, the World bank and IMF provided India a loan of

A. 7 billion
B. 5 billion
C. 8 billion
D. 6 billion
Answer» A. 7 billion
30.

PSU is

A. Producing sector undertaking
B. None
C. Public sector undertaking
D. Private sector undertaking
Answer» C. Public sector undertaking
31.

Selling off the share of public sector companies to the private individuals and institutions is known as

A. Amendments
B. Delicensing
C. Dereservation
D. Disinvestment
Answer» D. Disinvestment
32.

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
Answer» B. All of these
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