Indian Industries & Trade

Total Questions: 65

21. Consider the following states: [2001]

1. Gujarat

2. Karnataka

3. Maharashtra

4. Tamil Nadu

The descending order of these states with reference to their level of Per Capita. Net State Domestic Product is:

(a) 1, 3, 4, 2
(b) 3, 1, 2, 4
(c) 1,3,2,4
(d) 3, 1, 4, 2

Correct Answer: (b) 3, 1, 2, 4

Solution:The descending order of the states with reference to their level of per capita Net State Domestic Product Maharashtra → Gujarat → Karnataka → Tamil Nadu

22. With reference to the Public Sector Undertakings in India, consider the following statements: [2002]

1. Minerals and Metals Trading Corporation of India Limited is the largest non-oil importer of the country.

2. Project and Equipment Corporation of India Limited is under the Ministry of Industry.

3. One of the objectives of Export Credit Guarantee Corporation of India Limited is to enforce quality control and compulsory pre-shipment inspection of various exportable commodities.

Which of these statements is/are correct?

(a) 1 only
(b) 1 & 2
(c) 2 & 3
(d) 3 only

Correct Answer: (a) 1 only

Solution:Minerals and Metals Trading Corporation Limited (MMTC) is one of the two biggest foreign exchange earner for India. It is the largest international trading company of India and the first Public Sector Enterprise to be accorded the status of FIVE STAR EXPORT HOUSE by Govt. of India for long standing contribution to exports. MMTC is the largest non-oil importer in India. Project and Equipment Corporation of India Limited is under the Ministry of Commerce & Industry.

23. HINDALCO, an aluminium factory located at Renukut owes its site basically to: [2002]

(a) proximity of raw materials
(b) abundant supply of power
(c) efficient transport network
(d) proximity to the market

Correct Answer: (b) abundant supply of power

Solution:HINDALCO, an aluminium factory located at Renukut due to abundant supply of power from National Thermal Power Station, Rihand and a capative power plant at Renu Sagar. It has a cogeneration unit at the plant itself.

24. Which one of the following committees recommended the abolition of reservation of items for the small scale sector in industry? [2002]

(a) Abid Hussian Committee
(b) Narasimham Committee
(c) Nayak Committee
(d) Rakesh Mohan Committee

Correct Answer: (a) Abid Hussian Committee

Solution:Abid Hussain Committee (1997) recommended total de-reservation and desired replacing policy of reservation with a policy of promotion and strengthening of small scale units.

25. With reference to India, which one of the following statements is NOT correct? [2003]

(a) IPCL is India's largest petrochemical company
(b) RIL is the largest private sector company in India
(c) MTNL is listed on NYSE
(d) BSNL is the first telecom service organization in India to launch a nationwide cellular service at one time

Correct Answer: (a) IPCL is India's largest petrochemical company

Solution:ONGC is India's largest petrochemical company. IPCL is the second largest petrochemical company. It produces around 69% of India's crude oil and around 62% of its natural gas.

26. Which one of the following statements is NOT correct? [2003]

(a) India is the second largest producer of nitrogenous fertilizers in the world.
(b) India is the ninth largest steel producing country in the world.
(c) India is the second largest producer of silk in the world.
(d) India ranks third in the world in coal production.

Correct Answer: (a) India is the second largest producer of nitrogenous fertilizers in the world.

Solution:According to recent statistics India is the second largest producer of nitrogenous fertilizers in the world. India is the third largest steel producing country in the the world. India is the second largest producer of silk in the world after china. India is the second largest producer of coal in the world after china whereas in 2003 India was 9th steel producing country, scrod largest producer of silk and one of the largest producer of coal.

27. During the year 2000-01 which one of the following Industries recorded the highest growth rate in India? [2003]

(a) Cement
(b) Coal
(c) Electricity
(d) Steel

Correct Answer: (d) Steel

Solution:The steel industry recorded highest growth rate of 7%, electricity, generation growth rate was 4%, coal industry growth was 3.3%.

28. Which one of the following statements is correct? [2003]

(a) Alliance Air is a wholly-owned subsidiary of Indian Airlines
(b) The Airports Authority of India manages seven of the country's international airports
(c) The Airports Authority of India is the regulatory organisation for enforcing civil air regulations in India
(d) It is the function of Directorate General of Civil Aviation to plan and construct runways and terminal buildings and to provide air safety services

Correct Answer: (a) Alliance Air is a wholly-owned subsidiary of Indian Airlines

Solution:Alliance Air was formed in 1996 and was complelety owned by Indian Airline.

29. Assertion (A): India does not export natural rubber. [2004]

Reason (R): About 97% of India's demand for natural rubber is met from domestic production.

(a) Both A & R are true & R is the correct explanation of A
(b) Both A & R are true but R is NOT a correct explanation of A
(c) A is true but R is false
(d) A is false but R is true

Correct Answer: (b) Both A & R are true but R is NOT a correct explanation of A

Solution:India is the fourth largest country, regarding consumption of rubber with total consumption 631000 tons in 2001, after USA and Japan.

Due to high consumption in domestic market India does not export natural rubber. However small quantities of natural rubber is exported to get higher prices.

30. Assertion (A): Balance of Payments represents a better Picture of a country economic transactions with the rest of the world than the Balance of Trade: [2005]

Reason (R): Balance of Payments takes into account the exchange of both visible and invisible items whereas balance of Trade does not.

(a) Both 'A' & 'R', are individually true & 'R' is the correct explanation of 'A'.
(b) Both 'A' & 'R' are individually true but 'R' is not the, correct explanation of 'A'.
(c) 'A' is true but 'R' is false.
(d) 'A' is false but 'R' is true.

Correct Answer: (a) Both 'A' & 'R', are individually true & 'R' is the correct explanation of 'A'.

Solution:Balance of payments of a nation consists of visible account, invisible account and capital account. Whereas balance of trade = Export of goods import of goods.

If a country imports are more than exports the deficit can be made up by invisibles like remmitance by NRI and FDI investment.

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