Indian Industries & Trade

Total Questions: 65

41. Disguised unemployment generally means : [2013-1]

(a) large number of people remain unemployed
(b) alternative employment is not available
(c) marginal productivity of labour is zero
(d) productivity of workers is low

Correct Answer: (c) marginal productivity of labour is zero

Solution:Disguised unemployment is a situation when people do not have productive full-time employment, but are not counted in the official unemployment statistics.

42. With reference to Balance of Payments, which of the following constitutes/constitute the Current Account? [2014-1]

1. Balance of trade

2. Foreign assets

3. Balance of invisibles

4. Special Drawing Rights

Select the correct answer using the code given below.

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

Correct Answer: (c) 1 & 3

Solution:The current account consists of the balance of trade and balance of invisibles.

43. In India, the steel production industry requires the import of : [2015-1]

(a) saltpetre
(b) rock phosphate
(c) coking coal
(d) All of the above

Correct Answer: (c) coking coal

Solution:The coal found in India is mainly of non-coking quality and hence coking coal has to be imported. 70% of the steel produced today uses coal. Coking coal is a vital ingredient in the steel making process.

44. In the 'Index of Eight Core Industries', which one of the following is given the highest weight? [2015-1]

(a) Coal production
(b) Electricity generation
(c) Fertilizer production
(d) Steel production

Correct Answer: (b) Electricity generation

Solution:Electricity generation (weight: 10.32%) increased by 3.5% in July, 2015. Its cumulative index during April to July, 2015-16 increased by 2.0% over the corresponding period of previous year.

45. Which of the following brings out the 'Consumer Price Index Number for Industrial Workers"? [2015-1]

(a) The Reserve Bank of India
(b) The Department of Economic Affairs
(c) The Labour Bureau
(d) The Department of Personnel and Training

Correct Answer: (c) The Labour Bureau

Solution:The labour Bureau brings out "consumer price index numbers" for industrial workers.

The Labour Bureau of the Ministry of Labour & Employment, released Consumer Price Index for Industrial Workers.

Current status of CPI- The All-India CPI-IW for June, 2021 increased by 1.1 points and stood at 121.7 (one hundred twenty-one and point seven). On 1-month percentage change, it increased by 0.91% with respect to previous month compared to an increase of 0.61% recorded between corresponding months a year ago.

46. Recently, India's first 'National Investment and Manufacturing Zone' was proposed to be set up in : [2016-1]

(a) Andhra Pradesh
(b) Gujarat
(c) Maharashtra
(d) Uttar Pradesh

Correct Answer: (a) Andhra Pradesh

Solution:In order to boost 'Make in India' campaign, first national investment and manufacturing zone to come up in Andhra Pradesh. The state assured the Centre of availability of 10 sq km of land in one place in Prakasham district.

47. With reference to pre-packaged items in India, it is mandatory to the manufacturer to put which of the following information on the main label, as per the Food Safety and Standards (Packaging and Labelling) Regulations, 2011? [2016-1]

1. List of ingredients including additives

2. Nutrition information

3. Recommendations, if any, made by the medical profession about the possibility of any allergic reactions

4. Vegetarian/non-vegetarian

Select the correct answer using the code given below.

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

Correct Answer: (c) 1, 2 & 4

Solution:(i) Items 1, 2 and 4 are the mandatory information to the manufacturer to put these on the main label as per FSS(packaging & labeling) regulations 2011.

(ii) According to official notification

Labels have to contains 1, 2 and 4 that much is confirmed. And since UPSC has not given any option on "All correct". Hence answer (c).

48. Which of the following best describes the term 'import cover', sometimes seen in the news? [2016-1]

(a) It is the ratio of value of imports to the Gross Domestic Product of a country
(b) It is the total value of imports of a country in a year
(c) It is the ratio between the value of exports and that of imports between two countries
(d) It is the number of months of imports that could be paid for by a country's international

Correct Answer: (d) It is the number of months of imports that could be paid for by a country's international

Solution:(1) The stock of foreign exchange reserves in terms of months of retained imports of goods as at end of year. It measures the number of months of money available in the national bank to cover the cost of imports.

49. With reference to 'Quality Council of India (QCI)', consider the following statements: [2017-1]

1. QCI was set up jointly by the Government of India and the Indian Industry.

2. Chairman of QCI is appointed by the Prime Minister on the recommendations of the industry to the Government.

Which of the above statements 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:Both statements are correct, as per their organization's 'about us' page.

1. To encourage development & application of third party assessment model for use in government, regulators, organizations and society.

2. To promote quality competitiveness of India's enterprises especially MSMEs through adoption of and adherence to quality management standards and quality tools.

3. Promoting the establishment of quality improvement and benchmarking centre, as a repository of best international national practices and their dissemination among the industry in all the sectors.

50. India enacted The Geographical Indications of Goods (Registration and Protection) Act, 1999 in order to comply with the obligations to: [2018-1]

(a) ILO
(b) IMF
(c) UNCTAD
(d) WTO

Correct Answer: (d) WTO

Solution:GI indicators fall under WTO domain so D is the answer.

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