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Industrial Sector (Part – I)

📆 October 8, 2024

Total Questions: 50

1. Which was the first Indian Private Sector Company to find place in Global 500 list of 'Fortune Magazine'? [Uttarakhand P.C.S. (Pre) 2006]

Correct Answer: (d) Reliance Industries Ltd.
Solution:Fortune Magazine released Global 500 list on 24 July, 2006. In this list Exxon Mobil was at the top in the world, while India's Reliance Industries had been at 284th rank. In the list for 2023 of Fortune 'Global 500', Walmart is at the top, while in Indian companies (Top 3) Reliance Industries, Indian Oil and Life Insurance Corporation of India are at the 88th, 94th, and 107th place respectively. Other 5 Indian companies in this list are ONGC (158th), BPCL (233rd), SBI (235th), Tata Motors (337th) and Rajesh Exports (353rd).

2. According to Fortune India List of 500 Companies/Corporations, the biggest Company/Corporation in 2019 was : [U.P.B.E.O. (Pre) 2019, U.P.R.O./A.R.O. (Pre) (Re- Exam) 2016]

Correct Answer: (c) Reliance Industries Ltd.
Solution:According to Fortune India List of 500 Companies/ Corporations, the biggest Company/Corporation of India in 2019 (and also in 2020, 2021, 2022 and 2023) was Reliance Industries Limited. In 2023 List, Indian Oil Corporation is at 2nd place while Life Insurance Corporation of India is at 3rd place.

3. Consider the following statements : [I.A.S. (Pre) 2019]

1. Petroleum and Natural Gas Regulatory Board (PNGRB) is the first regulatory body set up by the Government of India.

2. One of the tasks of PNGRB is to ensure competitive markets for gas.

Appeals against the decisions of PNGRB go before the Appellate Tribunals for Electricity.

Which of the statements given above are correct?

Correct Answer: (b) 2 and 3 only
Solution:The Petroleum and Natural Regulatory Board (PNGRB) was constituted in 2006. Hence, it is not the first regulatory body set up by the Government of India, as number of other regulatory bodies such as Forward Market Commission (1952), SEBI (1988/1992), IRDA (1999), etc. are set up before. Thus, statement 1 is not correct.

PNGRB Act, 2006 provides for the establishment of Petroleum and Natural Gas Regulatory Board to protect the interests of consumers and entities engaged in specified activities relating to petroleum, petroleum products and natural gas and to promote competitive markets and for matters connected there with of incidental there to . Thus, statement 2 is correct.

Statement 3 is also correct as according to Article 30 of the PNGRB Act, 2006, the Appellate Tribunal established under the section 110 of the Electricity Act, 2003 shall be the Appellate Tribunal for the appeals against the decisions of PNGRB.

4. With reference to the Corporate Social Responsibility (CSR), which of the statements is/are correct? [U.P.P.C.S. (Pre) 2019]

1. Companies Act 2014, introduces mandatory CSR.

2. Companies covered under this will have to spend at least one percent of their annual net-profit in the activities under CSR.

Select the correct answer using the codes given below:

Correct Answer: (d) Neither 1 nor 2
Solution:On April 1, 2014 India became the first country in the world to make Corporate Social Responsibility (CSR) legally mandatory, following with an amendment to the Companies Act, 2013. The new rules in Section 135 of the Companies Act, 2013 make it mandatory for companies of a certain turn- over and profitability to spend two percent of their average net profit for the past three years on CSR. Companies can invest their profits in areas such as education, poverty, gender equality and hunger as part of their CSR compliance. Thus, both of the given statements are incorrect.

5. Which country has made Corporate Social Responsibility Act first? [Chhattisgarh P.C.S. (Pre) 2015]

Correct Answer: (d) India
Solution:On April 1, 2014 India became the first country in the world to make Corporate Social Responsibility (CSR) legally mandatory, following with an amendment to the Companies Act, 2013. The new rules in Section 135 of the Companies Act, 2013 make it mandatory for companies of a certain turn- over and profitability to spend two percent of their average net profit for the past three years on CSR. Companies can invest their profits in areas such as education, poverty, gender equality and hunger as part of their CSR compliance. Thus, both of the given statements are incorrect.

6. Which of the following statements is incorrect about Uday Kotak Committee? [U.P.P.C.S. (Mains) 2017]

Correct Answer: (d) It recommends that the post of chairman and managing director must remain the same.
Solution:21-member Committee on Corporate Governance headed by banker Uday Kotak was constituted by the Securities and Exchange Board of India (SEBI) in June, 2017. The Committee submitted its report to SEBI in October, 2017. Its main recommendations are as follows:

• Minimum board strength should be 6 members.

•  At least one woman should be appointed as independent director.

• At least half of board members to be independent directors at listed companies. Roles of chairman and managing director at listed firms should be separated and chairmanship should be limited to non-executive directors.

• Enhanced role of the audit committee, nomination and remuneration committee and risk management committee.

7. Which of the following statements is/are correct with reference to Indian Railways? [U.P.R.O./A.R.O. (Pre) 2021]

1. Achieving 100 percent electrification by 2023.

2. A net zero carbon emission network by 2030.

Select the correct answer using the code given below:

Correct Answer: (c) Both 1 and 2
Solution:Indian Railways had framed a well-designed policy - Mission 100% electrification-by 2023. The national transporter has so far electrified about 95% of the broad-gauge track network till the end of FY 2023-24. Indian Railways has set a target to become the world's largest green railway with 'net zero' carbon emission network by 2030. This initiative alone will lead to a reduction of 60 million tonnes of emissions annually.

8. Where in India, the first rubber based tyre Metro is being built? [U.P.R.O./A.R.O. (Pre) 2021]

Correct Answer: (d) Nashik
Solution:A rubber-tyred metro is a form of rapid transit system that uses a mix of road and rail technology. In this, the vehicles have wheels with rubber tyres like a bus, but using a set of two parallel concrete or corrugated steel rollways, each with the width of a tyre. Nashik's first-of-its-kind Metro will run on rubber-based tyres, as the Maharashtra State Cabinet in August, 2019 cleared the mass transport system 'Metro Neo' for better connectivity across the city.

9. The first showroom in India of the retail furniture giant 'Ikea' was opened in which city in 2018? [B.P.S.C (Pre) 2019]

Correct Answer: (b) Hyderabad
Solution:Swedish retail furniture giant 'IKEA' opened its first show- room in India on 9 August, 2018 in Hyderabad. The Swedish multinational has invested more than Rs. 1000 crore on the Hyderabad outlet (including land, construction and capital goods). The store is spread across 13 acres, and display near 7500 products.

10. In which district of Madhya Pradesh Industrial Development Centre Banmore is situated? [M.P.P.C.S. (Pre) 2019]

Correct Answer: (a) Morena
Solution:Industrial Development Centre 'Banmore' is situated in Morena district of Madhya Pradesh.
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