MCQ Quiz on Sectors of Indian Economy – Set 3

Question 1: The share of the tertiary sector in total GDP of India has ___________.

(A) shown an increasing trend

(B) shown a decreasing trend

(C) remained constant

(D) been flactuating

Question 2: In the last one decade, which one among the following sectors has attracted the highest foreign direct
investment inflows into India?

(A) Chemicals other than fertilizers

(B) Services Sector

(C) Food processing

(D) Telecommunication

Question 3: Shanta Kumar Committee has submitted its report on restructuring of Food Corporation of India (FCI) to Mr. Modi.
Read the following recommendations and find the incorrect ones.

1. FCI procurement should focus on the western belt, where farmers get the minimum support price.
   
2. FCI should hand over the procurement of wheat and rice to four states which include Punjab, Haryana, Andhra
   Pradesh and Chattisgarh.
   
3. Proposed uniform tax of minimum 3% and maximum 4% on wheat and rice and the same to be included in the minimum support price.

(A) Only 1 and 2

(B) Only 1 and 3

(C) Only 2 and 3

(D) None of the above

Question 4: Which one of the following led the Malegam committee to recommend for interest rate cap for micro-finance institutions?

(A)Promoters of micro-finance institution growing rich

(B) High interest rate

(C) Small loans offered to microenterprises

(D) Borrowers stopped repaying loans

Question 5: RBI has set up a committee to study and give suggestion on the microfinance sector. It’s chairman was _____________.

(A) Y.H. Malegam

(B) Abid Hussain

(C) Bimal Jalan

(D) Rakesh Mohan

Question  6: Micro-finance is the provision services to people of low-income groups. This includes both the consumers and the self-employed.
The service/services rendered under micro-finance is/are

1. Credit-facilities
   
2. Saving facilities
   
3. Insurance facilities
4. Fund transfer facilities

Select the correct answer using the codes given below.

(A) Only 1

(B) Only 1 and 4

(C) Only 2 and 3

(D) 1, 2, 3 and 4

Question 7: Why is the Government of India disinvesting its equity in the Central Public Sector Enterprises (CPSEs)?

1. Government intends to use the revenue earned from the disinvestment mainly to pay back the external debt.
   
2. The government no longer intends to retain the managements control of the CPSEs.

Which of the statement(s) given above is/are correct?

(A) Only 1

(B) Only 2

(C) Both 1 and 2

(D) Neither 1 nor 2

Question 8: As per Micro, Small and Medium Enterprises Development Act 2006, medium enterprises are defined as
those with the investment of _____________.

(A) 25 lakhs to  5 crores

(B) 5 crores to  10 crores

(C) less than 10 crores

(D) more than 10 crores

Question 9: In relation to Agricultural Finance and Refinance which institution is the biggest?

(A) Regional Rural Bank

(B) NABARD Institution

(C) Central Cooperative Bank

(D) Land Development Bank

Question 10: The registered exporters, whose export per- formance in several years is of high quality, are known as _____________.

(A) Export Houses

(B) Trading Houses

(C) Star Trading Houses

(D) None of the above

Question 11: Import procedure begins with __________.

(A) Mate’s receipt

(B) Marine insurance

(C) Indent

(D) Shipping bill

Question 12: Concept of ‘Joint Sector’ for industrial development of India was envisaged in Industrial Policy
Resolution of  ___________.

(A) 1948

(B) 1956

(C) 1980

(D) 1991

Question 13: The licensing policy for the industries drew strength from ___________.

(A) Industrial Policy Resolution, 1948

(B) Industrial Policy Resolution, 1956

(C) Congress Party Resolution of establishing Socialistic pattern of society

(D)Industries Act 1951

Question 14: The second Green Revolution proposed by the Prime Minister does not include ___________.

(A) help to Indian farmers to participate in global agricultural trade

(B) minimisation of the post harvest wastage

(C) improvement in storage of crops

(D) encouragement to foreign direct investment in agriculture

Question  15: Long-term agricultural credit is provided by ___________.

(A) Primary Cooperative Society

(B) District Cooperative Bank

(C) Land Development Bank

(D) State Cooperative Bank

Question 16: National Agricultural Insurance Scheme was launched in the year

(A) 1995-96

(B) 1998-99

(C) 1999-2000

(D) 2001-02

Question 17: Match List-I with List-II and select the correct answer from the codes given below the lists.

Code

Question 18: Which of the following agencies is not engaged in exporting agricultural goods from India?

(A) NAFED

(B) State Trading Corporation

(C) IFFCO

(D) MMTC

Question 19: Among the Indian States, Uttar Pradesh is the largest producer of which of the following crops?

(A) Wheat, Potato, Groundnut

(B) Wheat, Potato, Sugarcane

(C) Potato, Sugarcane, Cotton

(D) Potato, Sugarcane, Paddy

Question 20: Consider the following.

1. Area nut
   
2. Barley
   
3. Coffee
   
4. Finger millet
   
5. Groundnut
   
6. Sesamum
   
7. Turmeric

The Cabinet Committee on Economic Affairs has announced the Minimum Support Price for which of the above?

(A) Only 1, 2, 3 and 7

(B) Only 2, 4, 5 and 6

(C) Only 1, 3, 4, 5 and 6

(D) 1, 2, 3, 4, 5, 6 and 7

Question 21:Consider the following statements.

1. The Food Safety and Standards Act, 2006 replaced the Prevention of Food Adulteration Act, 1954.
   
2. The Food Safety and Standards Authority of India (FSSAI) is under the charge of Director General of Health Services in the Union Ministry of Health and Family Welfare.

Which of the statement(s) given above is/are correct? 

(A) Only 1

(B) Only 2

(C) Both 1 and 2

(D) Neither 1 nor 2

Question 22: With reference to the provisions made under the National Food Security Act, 2013, consider the following statements.

1. The families coming under the category of ‘below poverty line (BPL)’ only are eligible to receive subsidised food grains.
   
2. The eldest women in a household of age 18 years or above, shall be the head of the household for the purpose of issuance of a ration card.
   
3. Pregnant women and lactating mothers are entitled to a ‘takehome ration’ of 1600 calories per day during pregnancy and for six months thereafter.

Which of the statement(s) given above is/are correct?

(A) Only 1 and 2

(B) Only 2

(C) Only 1 and 3

(D) Only 3

Question 23: Consider the following statements.

1. In India, State Governments do not have the power to auction non-coal mines.
   
2. Andhra Pradesh and Jharkhand do not have gold mines.
3. Rajasthan has iron ore mines.

Which of the statement(s) given above is/are correct?

(A) Only 1 and 2

(B) Only 2

(C) Only 1 and 3

(D) Only 3