Indian Industries & Trade

Total Questions: 65

31. Which one of the following statements is not correct? [2005]

(a) Rourkela Steel Plant, the first integrated steel plant in the Public Sector of India was set up with the Soviet Union collaboration.
(b) Salem Steel Plant is a premier producer of stainless steel in India.
(c) Maharashtra Elektrosmelt Ltd. is a subsidiary of the Steel Authority of India Ltd.
(d) Visakhapatnam Steel Plant is a unit of the Rashtriya Ispat Nigam Ltd.

Correct Answer: (a) Rourkela Steel Plant, the first integrated steel plant in the Public Sector of India was set up with the Soviet Union collaboration.

Solution:Rourkela Steel Plant (RSP) is the first intergrated steel plant in the public sector in India. It was set up with German collaboration with an installed capacity of 1 million tonnes.

32. Consider the following statements: [2009]

1. MMTC Limited is India's largest international trading organization.

2. Neelachal Ispat Nigam Limited has been set up by MMTC jointly with the Government of Orissa.

Which of the statements given above is/are correct?

(a) 1 only
(b) 2 only
(c) Both 1 & 2
(d) Neither 1 nor 2

Correct Answer: (c) Both 1 & 2

Solution:Neelachal Ispat Nigam Limited (NINL), a company promoted by MMTC Ltd, Industrial Promotion and Investment Corporation of Orissa Limited (IPICOL) and other government agencies has set up an 1.1 million ton Integrated Iron and steel plant at Kalinganagar, Duburi, Orissa.

33. Which one of the following sets of commodities are exported to India by arid and semi-arid countries in the Middle East? [ [2009]

(a) Raw wool and carpets
(b) Fruits and palm oil
(c) Precious stones and pearls
(d) Perfume and Coffee.

Correct Answer: (b) Fruits and palm oil

Solution:Fruits and palm oil are exported to India by arid and semi arid countries of middle east.

34. Which one of the following is not a feature of Limited Liability Partnership firm? [2010]

(a) Partners should be less than 20
(b) Partnership and management need not be separate
(c) Internal governance may be decided by mutual agreement among partners
(d) It is corporate body with perpetual succession

Correct Answer: (a) Partners should be less than 20

Solution:Alimited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited hability.

LLP shall be a body corporate and a legal entity separate from its partners. It will have perpetual succession. Indian Partnership Act, 1932 shall not be applicable to LLPs and there shall not be any upper limit on number of partners in an LLP unlike an ordinary partnership firm where the maximum number of partners can not exceed 20, LLP Act makes a mandatory statement where one of the partner to the LLP should be an Indian.

35. In India, which of the following, is regulated by the Forward Markets Commission? [2010]

(a) Currency Futures Trading
(b) Commodities Futures Trading
(c) Equity Futures Trading
(d) Both Commodities Futures and Financial Futures Trading

Correct Answer: (b) Commodities Futures Trading

Solution:Forward Markets Commission (FMC) is the chief regulator of forwards and futures markets in India. As of March 2009, it regulates Rs 52 Trillion worth of commodity trade in India.

It is headquartered in Mumbai and is overseen by the Ministry of Consumer Affairs, Government of India. The commission allows commodity trading in 22 exchanges India of which 6 are national. It was established in 1953.

36. What is/are the recent policy initiative(s) of Government of India to promote the growth of manufacturing sector? [2012-1]

1. Setting up of National Investment and Manufacturing Zones

2. Providing the benefit of 'single window clearance"

3. Establishing the Technology Acquisition and Development Fund

Select the correct answer using the codes given below:

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

Correct Answer: (d) 1, 2 & 3

Solution:All the three initiative (s) mentioned in the question are the part of National Manufacturing Policy. The objective of the National Manufacturing policy is to boost the country's share of industrial production, employment, development of world-class infrastructure and investments in India's manufacturing space.

37. In India, in the overall Index of Industrial Production, the Indices of Eight Core Industries have a combined weight of 37.90%. Which of the following are among those Eight Core Industries? [2012-1]

1. Cement

2. Fertilizers

3. Natural gas

4. Refinery products

5. Textiles

Select the correct answer using the codes given below:

(a) 1 & 5 only
(b) 2, 3 & 4 only
(c) 1, 2, 3 & 4 only
(d) 1, 2, 3, 4 & 5

Correct Answer: (c) 1, 2, 3 & 4 only

Solution:The Eight core industries have a combined weight of 37.90 per cent in the index of Industrial Production (IIP). They are as follows:

Coal, crude oil, Natural Gas, Petroleum Refinery Products, fertilizers, steel (Alloy + Non-Alloy), Cement and Electricity.

38. Despite having large reserves of coal, why does India import millions of tonnes of coal? [2012-1]

1. It is the policy of India to save its own coal reserves for future, and import it from other countries for the present use.

2. Most of the power plants in India are coal-based and they are not able to get sufficient supplies of coal from within the country.

3. Steel companies need large quantity of coking coal which has to be imported.

Which of the statements given above is/are correct?

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

Correct Answer: (b) 2 & 3 only

Solution:The coal requirement will not end any time soon. Also, we have power plants at the coasts which are based on imported coal. Their boilers are designed only for imported coal. They will continue to use imported coal. So, it is only the third category of thermal power plants which were using imported coal as a substitute for domestic coal because if its scarcity, which we can do something about.

India imports millions of tonnes of coal due to a lack of availability of good coal. Hence, statement 1 is not correct. India does not have enough reserves for good quality coking coal and most of it is imported from Indonesia, South Africa, Russia, and Australia. Hence, statement 2 is correct.

Coking coal is imported by the state-run Steel Authority of India Limited (SAIL) and other steel manufacturing units mainly to bridge the gap between the requirement and indigenous availability and to improve the quality. Hence, statement 3 is correct.

39. The balance of payments of a country is a systematic record of [2013-1]

(a) all import and export transactions of a country during a given period of time, normally a year
(b) goods exported from a country during a year
(c) economic transaction between the government of one country to another
(d) capital movements from one country to another.

Correct Answer: (a) all import and export transactions of a country during a given period of time, normally a year

Solution:The balance of payments (BOP) of a country is the record of all economic transactions between the residents of a country and the rest of the world in a particular period cover a quarter of a year or more commonly over a year.

40. Which one among the following industries is the maximum consumer of water in India? [2013-1]

(a) Engineering
(b) Paper and pulp
(c) Textiles
(d) Thermal power

Correct Answer: (d) Thermal power

Solution:The focus initially would be on water-intensive sectors such as thermal power plants, textiles, pulp, chemicals etc. Of the total water use by the industry, thermal power plants are the biggest users of water and account for 88% of the total industrial water use.

They are followed by engineering (5.05%) pulp & paper (2.26%) and textiles (2.07%) industries. Hence the correct option is d.

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