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Question 1 of 5
1. Question
Which of the following are included in the eight core industries of Indian economy?
- Electricity
- Steel
- Biogas
- Refinery products
Select the correct answer code:
Correct
Solution: c)
The eight core sectors — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity.
Incorrect
Solution: c)
The eight core sectors — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity.
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Question 2 of 5
2. Question
Consider the following statements.
- Among the operationally-run Central Public Sector Enterprises (CPSEs) that have Ratna status, the majority are Maharatna companies.
- Eight core industrial sectors have a total weight of nearly 70% in the Index of Industrial Production (IIP).
Which of the above statements is/are correct?
Correct
Solution: d)
Eight core industrial sectors have a total weight of nearly 40% in the Index of Industrial Production (IIP).
As on February, 2022, there are 11 Maharatna CPSEs, 13 Navratna CPSEs and 74 Miniratna CPSEs.
Incorrect
Solution: d)
Eight core industrial sectors have a total weight of nearly 40% in the Index of Industrial Production (IIP).
As on February, 2022, there are 11 Maharatna CPSEs, 13 Navratna CPSEs and 74 Miniratna CPSEs.
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Question 3 of 5
3. Question
Consider the following statements regarding Development Finance Institutions (DFIs).
- Development Finance Institutions provide risk capital for economic development projects on non-commercial basis.
- In India, the first DFI was operationalised before Independence, with the setting up of the Industrial Finance Corporation (IFCI).
- During the pre-liberalised era, India had DFIs that were primarily engaged in development of industry in the country.
Which of the above statements is/are correct?
Correct
Solution: b)
A development finance institution (DFI) also known as a development bank is a financial institution that provides risk capital for economic development projects on non-commercial basis.
During the pre-liberalised era, India had DFIs which were primarily engaged in development of industry in the country.
In India, the first DFI was operationalised in 1948 with the setting up of the Industrial Finance Corporation (IFCI). Subsequently, the Industrial Credit and Investment Corporation of India (ICICI) was set up with the backing of the World Bank in 1955.
The Industrial Development Bank of India (IDBI) came into existence in 1964 to promote long-term financing for infrastructure projects and industry.
Incorrect
Solution: b)
A development finance institution (DFI) also known as a development bank is a financial institution that provides risk capital for economic development projects on non-commercial basis.
During the pre-liberalised era, India had DFIs which were primarily engaged in development of industry in the country.
In India, the first DFI was operationalised in 1948 with the setting up of the Industrial Finance Corporation (IFCI). Subsequently, the Industrial Credit and Investment Corporation of India (ICICI) was set up with the backing of the World Bank in 1955.
The Industrial Development Bank of India (IDBI) came into existence in 1964 to promote long-term financing for infrastructure projects and industry.
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Question 4 of 5
4. Question
Which of the following are released by Labour Bureau in the Ministry of Labour?
- CPI for Industrial Workers (IW)
- CPI for Urban Non-Manual Employees (UNME)
- CPI for Rural Labourers (RL)
- CPI for Agricultural Labourers (AL)
Select the correct answer code:
Correct
Solution: c)
In India, there are four consumer price index numbers, which are calculated, and these are as follows:
CPI for Industrial Workers (IW)
CPI for Agricultural Labourers (AL)
CPI for Rural Labourers (RL) and
CPI for Urban Non-Manual Employees (UNME).
While the Ministry of Statistics and Program Implementation collects CPI (UNME) data and compiles it, the remaining three are collected by the Labour Bureau in the Ministry of Labour.
Incorrect
Solution: c)
In India, there are four consumer price index numbers, which are calculated, and these are as follows:
CPI for Industrial Workers (IW)
CPI for Agricultural Labourers (AL)
CPI for Rural Labourers (RL) and
CPI for Urban Non-Manual Employees (UNME).
While the Ministry of Statistics and Program Implementation collects CPI (UNME) data and compiles it, the remaining three are collected by the Labour Bureau in the Ministry of Labour.
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Question 5 of 5
5. Question
Consider the following statements.
- The labour force participation rate essentially tells what percentage of the total population want to be part of the workforce.
- A low labour force participation rate means fewer people are making themselves available for economic activity.
Which of the above statements is/are incorrect?
Correct
Solution: a)
The labour force participation rate essentially tells us what percentage of people who are within the working-age (15 to 59 years) group want to be part of the workforce. A low labour force participation rate undermines a country’s overall productivity and wellbeing because fewer people are making themselves available for economic activity.
Incorrect
Solution: a)
The labour force participation rate essentially tells us what percentage of people who are within the working-age (15 to 59 years) group want to be part of the workforce. A low labour force participation rate undermines a country’s overall productivity and wellbeing because fewer people are making themselves available for economic activity.
