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Industry & Infrastructure — UPSC Prelims Economy previous year questions

57 solved previous year questions on Industry & Infrastructure, papers from 1994 to 2023, drawn from UPSC CSE Prelims, UPSC CDS, State PCS. Each carries the printed answer key and the explanation from the source compilation.

1. #1Previous year
   In the context of India's Five-Year Plans, a shift in the pattern of industrialization, with lower emphasis on heavy industries and more on infrastructure begin in: [UPSC CSE Pre 20 IO
   • AFourth Plan
   • BSixth Plan
   • CEighth Plan
   • DTenth Plan
   Answer: (B) Sixth Plan
   Explanation

   } Exp) Option h is the correct answer. The Sixth Five Year Plan (1980-85) was the first plan to shift the emphasis from heavy industries to infrastructure. This was done in order to improve the country's transportation, communication, and power sectors, which were essential for economic growth. The Fourth Plan (1969-74) continued the focus on heavy industries, while the Eighth Plan (1992 -97) and Tenth Plan (2002 -07) further emphasized infrastructure development

2. #2UPPCS 1994
   Match the following phms and programmes:f s _' A. 1st Plan 1. Rapid Industrialization B. 2nd Plan 2. Community Development C. 3rd Plan 3. Expansion of basic industries D. 4th Plan 4. Minimum Needs programme E. 5th Plan 5. Achievement of self reliance and growth with stabilitySelect the correct answer from the code below
   • A1, 2 3 4 5
   • B2, 1 4 5 3
   • C2, 1 3 4 5
   • D2, 1 3 5 4
   Answer: (D) 2, 1 3 5 4
   Explanation

   Option d is the correct answer. The First Five Year Plan (1951-56) emphasized the development of rural areas through the Community Development Programme. The Second Five Year Plan (1956-61) emphasized rapid industrialization through the development of heavy industries under the Mahalanobis Model. The Third Five Year Plan (1961-66) emphasized expansion of basic industries and the development of agriculture. The Fourth Five Year Plan ( 1969- 74) emphasized the achievement of self-reliance and growth with stability. The Fifth Five Year Plan (197 4-79) emphasized the Minimum Needs Programme, which aimed to provide basic amenities for the poor

3. #3UPSC CDS 2016
   Which one of the following is not among the aims of the Second Five Year Plan (1956-57 to 1960-61)"
   • ARapid industrialisation on with particular emphasis on the development of basic and heavy industries
   • BLarge expansion of employment
   • Cself-sufficiency in food grains G increase agricultural production to meet the requirements of industry and exports
   • DReduction of inequalities in income and wealth and a more ever distribution of economic power
   Answer: (C) self-sufficiency in food grains G increase agricultural production to meet the requirements of industry and exports
   Explanation

   Option c is the correct Second Five Year Plan in India ( 1956-57 to 1960

4. #4UPSC CDS 2014
   Under the forceful thrust of British rule, a rapid transformation of the Indian economy took place. In this context, which of the following statements is/are correct? 1. Indian economy was transformed into a colonial economy in the 19th century whose structure was determined by Britain's fast developing industrial economy. 2. The influx heap Indian products into Jve a great blow to English _ 0,textile industries. o 1, 3. The 19th century saw the collapse of the traditional Indian village economy and fresh economic alignment along commercial lines.Select the correct answer using the codes given below
   • A1 and 3
   • BOnly 2
   • COnly 1
   • D1 and 2
   Answer: (A) 1 and 3
   Explanation

   Option a is the correct 1 is correct: British rule brought to the Indian economy, transforming it into economy that served the interests of economy. Indian resources and markets to benefit British industries, and the the Indian economy was shaped to align with 2 is incorrect: The influx of cheap Indian textiles, into England during the colonial have an impact on the English textile industry. did not give a significant blow to English textile fact, the British government took measures to own industries and imposed tariffs and goods to maintain its dominance. [ 3 is correct: The 19th century changes in the Indian economy, leading to of the traditional village economy. The British policies, such as the land l'evenue system of agriculture, disrupted structures and practices. The Indian economy a more commercial and market-oriented system

5. #5UPSC CSE Prelims 2014
   What does venture capital mean?
   • AA short-term capital provided to industries
   • BA long-term start-up capital provided to new entrepreneurs
   • CFunds provided to industries at times of incurring losses
   • DFunds provided for replacement and renovation of industries
   Answer: (B) A long-term start-up capital provided to new entrepreneurs
   Explanation

   Option b is the correct b is correct. Venture Capital is money provided to start-up firms and small firms with term growth potential. It is a high risk-high of the investor. Important Tips Venture capital (VC) is a form of private equity and a type of financing that investors provide to start-up companies and small businesses that are believed to h ave growth potential. Though it can be risky for investors who put up funds, the potential for above-average returns is an attractive payoff

6. #6UPSC CSE Prelims 2013
   Priority Sector Lending by banks in India constitutes the lending to
   • Aagriculture
   • Bmicro and small enterprises
   • Cweaker sections
   • DAll of the above
   Answer: (C) weaker sections
   Explanation

   Option c is the correct Ministry of Commerce and Industry is the ministry Government of India that is responsible for implementing India's Foreign Trade Policy. This the country's trade relations with other nations the strategies and measures to promote economic growth, and enhance competitiveness global market. Important Tips Directorate General of Foreign Trade (DGFT): DGFT operates as an attached body under the Ministry of Commerce Industry. The formation of D GFT took place in 1991. The EXIM policy managed by DGFT focuses on regulating imports and exports, promoting trade, and boosting economic growth

7. #7State PCS 2008
   In calculation of Index of wholesale prices which one of the following sectors is assigned maxhnmu weightage?
   • AFood articles
   • BNon-food articles
   • CFuel, power, light and Lubricants
   • DManufactured products
   Answer: (D) Manufactured products
   Explanation

   Option is the correct calculation of Index of whol es ale prices, the sector that maximum weightage is Manufactured weights of the three major groups are as follows: Primary Articles: Fuel and Power: Manufactu r ed Products

8. #8Previous year
   With reference to the National Rehabilitation and Resettlement Policy, 2007, consider the following statements:l. This policy is applicable only to the persons affected by the acquisition of land for projects and not to involuntary displacement due to any other reason. 2. This policy has been formulated by the Ministry of Social Justice and Empowerment.Which of the statements given above is/are correct? [UPSC CSE Pre
   • A1 only
   • B2 only
   • CBoth 1 and 2
   • DNeither 1 nor 2
   Answer: (D) Neither 1 nor 2
   Explanation

   Option d is the correct I is incorrect: The National Resettlement Policy, 2007 provides for benefits to people displaced by land or any other involuntary displacement. is applicable to all projects leading to of people and requires that all such address the rehabilitation and resettlement 2 is incorrect: The policy has bee n formulated Ministry of Rural Development, not by the Ministry Justice and Empowerment. The policy also provides establishment of a National Rehabilitation monitor and review the implementation of the policy

9. #9UPSC CDS 2023
   Which of the following is/are the submission/sub-missions of the National Skill Development Mission (NSDM)? 1. Institutional training 2. Overseas employment 97. 3. Leveraging of public infrastructureSelect the correct answer using the code given below
   • A1 only
   • B2 only
   • C1, 2 and 3
   • D2 and 3 only
   Answer: (C) 1, 2 and 3
   Explanation

   Option is the correct National Skill Development Mission (NSDM) in multiple sub -m.issions aimed at achieving its objectives. training: One of the sub-missions cf the National Skill Development Mission is ins tit utional training. This involves setting up and strengthening skill development such as (Industrial Training Institutes), skill development centers, vocational training centers, and other training providers. Overr,eas employment: Another sub-mission of the Skill Development Mission is focused on promoting overseas employment opportunities. This involves providing tra ining and support to individuals seeking employment opportunities abroad, facilitating skill certifications, and ensuring compliance with international standards and requirements. Leveraging of public infrastructure: The third mission of the National Skill Development Mission is the leveraging of public infrastructur

10. #10UPSC CSE Prelims 1999
    Consider the following statements: Small-scale industries are, in most cases, not as efficient and competitive as the large scale ones. Yet the Government provides preferential treatment and reservations in a range of products to the small firms because small-scale industries provide higher employment on a per unit capital deployment basis. 2. promote a regional dispersion of industries and economic activities. 3. have performed better in export of manufactured products than the large scale ones. 4. provide jobs to low-skill workers, who otherwise may not find employment avenues elsewhere. Which of the above statements are correct?
    • A1 and 4
    • B1 and 2
    • C2 and 3
    • D3 and 4
    Answer: (B) 1 and 2
    Explanation

    Option b is the correct I is correct: Small-scale industries less capital investment compared to while generating relatively higher Due to their labor-intensive nature and they can create jobs at a higher rate per unit of 2 is correct: Small-scale industries are in rural and semi-urban areas, leading to of industrial activities and By setting up enterprises in small-scale industries help in spreading and reducing regional 3 is incorrect: In general, large-scale to have a greater capacity for export of due to their economies of scale, production capabilities. Small-scale industries challenges in meeting international quality requirements, and access to global markets Statement 4 is incorrect: This statement is not in the given options, so it is not part of answer. However, it is a valid point to consider, industries, being labor-intensive, often opportunities to low-skilled workers to inc

11. #11State PCS 2020
    Given below are two statement'n ts, one is labelled as Assertion (A) and other as Reason Assertion {A): Government has launched the National Infrastructure Pipeline for the period of 2020-30. Reason (R) The objective of NIP is to provide equitable access to infrastructure for all. Select the correct answer using the codes given below. Codes
    • ABoth (A) and (R) are true and (R) is the correct explanation of (A)
    • BBoth (A) and (R) are 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
    Answer: (A) Both (A) and (R) are true and (R) is the correct explanation of (A)
    Explanation

    Option a is the correct l is correct: Skill India or the National Mission of India is a campaign launched Minister Narendra Modi on 15 July 2015 to train crore people in India in different skills by 2 is incorrect: The main objective of Skill was not to train India's youths in but to train them in different skills by 2022. Important Tips Skill India covers various initiatives such as National Skill Development Mission, National Policy for Skill Development and Entrepreneurship, Pradhan Mantri Kaushal Vikas Yojana, Skill Loan scheme, etc. The campaign aims to provide market-relevant skills training, improve employability and productivity, promote entrepreneurship and lifelong learning, and create opportunities for the development of talents in Indian youth

12. #12Previous year
    SEZ India mobile app has been launched in January [. (Pre)
    • AMinistry of Labour and Employment
    • BMinistry of Finance
    • CMinistry of Commerce and Industry
    • DMinistry of Corporate Affairs
    Answer: (A) Ministry of Labour and Employment
    Explanation

    Option a is the correct (A) is true- The National Sample Survey latest jobs survey reveals a decline in the participation rate (LFPR) for females between and 2017-18. During this period, the LFPR for female by 8 percentage points to 23.3 percent, while for males experienced a 4 pel'centage point dip (R) is true and it is the correct explanation decline in female LFPR can be attributed to as improved family income and increased access As family income improves and expand, more females may prioritize better living standards over joining the workforce. Important Tips LFPR, or Labor Force Participation Rate, measures the percentage of the working-age population ( 15 years or older) actively seeking employment or already employed '_1 I Based on CMIE (Centre for Monitoring Indian Economy) data, the Labor Force Participation Rate (LFPR) for males stood at as of December 2021, while the LFPR for

13. #13UPSC CDS 2020
    As per the use-based classification of the Index of Industrial Production (IIP), the maximum weight has been assigned to
    • Aprimary goods
    • Bintermediate goods
    • Cconsumer durables
    • Dconsumer non-durables
    Answer: (A) primary goods
    Explanation

    Option a is the correct a is correct: The new series of IIP has a total of occurring in the manufacturing sector in the (405 item groups). The brief table giving the use based classification; In the table, Primary goods have weight of and capital goods have the least Primary goods 15 34.05 Intermediate goods 110 17.22 Capital goods 67 8.22 Infrastructure/ 29 12.34 construction goods Consumer durables 86 12.84 Consumer nondurables 100 15.33 Total 407 100 Important Tips: Index of Industrial Production (IIP) is an index that shows the performance of different industrial sectors of the Indian The all-India IIP data is used for estimation of Gross Value Added of Manufacturing sector on quarterly basis. The IIP is constructed by the CSO using secondary data. l

14. #14State PCS 2014
    In India, mergers and of firms are regulated by
    • ANational Manufacturing Competitiveness Council
    • BCompetition Commission of India P R QUEEN P [ ] _
    • CSecurity and Exchange Board of India
    • DDepartment of Industrial Policy and Promotion
    Answer: (B) Competition Commission of India P R QUEEN P [ ] _
    Explanation

    Option b is the correct Competition of India (CCI) is body established by the Government of the Competition Act, 2002 The; CCI i.s regulating competition in India and preventing anti competitive practices. The CCI has the to approve mergers and acquisitions that may have effect on comp etition in India

15. #15UPSC CSE Prelims 2017
    With reference to the 'National Intellectual Property Rights Policy', consider the following statements: 1. It reiterates India's commitment to the Doha Development Agenda and the TRIPS Agreement. 2. Department of Industrial Policy and Promotion is the nodal agency for regulating intellectual property rights in India. 20.Which of the above statements is/are correct?
    • A1 only
    • B2 only
    • CBoth 1 and 2
    • DNeither 1 nor 2
    Answer: (C) Both 1 and 2
    Explanation

    Option c is the correct 1 is correct. National Intellectual Policy reiterates India's commitment to the Agenda and the TRIPS agreement. recognizes that India ha s a well-established TRIPS compliant legislative, administrative and judicial safeguard IPRs, which meets its internat ional utilizing the flexibilities provided in the to address its developmental 2 is correct: It is correct that Department Policy and Promotion is the nodel agency intellectual property rights in India

16. #16UPSC CSE Prelims 2000
    The correct sequence in decreasing order of the four sugarcane producing states in India is
    • AMaharashtra, U.P., Tamil Nadu, Andhra Pradesh
    • BU.P., Maharashtra, Tamil Nadu, Andhra Pradesh
    • CMaharashtra, U.P., Andhra Pradesh, Tamil Nadu
    • DU.P., Maharashtra, Andhra Pradesh, Tamil Nadu
    Answer: (C) Maharashtra, U.P., Andhra Pradesh, Tamil Nadu
    Explanation

    Option c is the correct and Japan signed a memorandum of developing the Delhi-Mumbai Industrial in 2006, which connects the two cities and six states. Important Tips Some other examples of industrial corridors of India that involve Japan are: Chennai-Bengaluru Industrial Corridor (CBIC), which aims to enhance connectivity and industrial development in Tamil Nadu, Karnataka and Andhra Pradesh East Coast Economic Corridor (ECEC), which is India's first coastal corridor that covers the states of West Bengal, Odisha, Andhra Pradesh and Tamil Nadu. Japan is providing technical assistance and financing for this projec. Japan Industrial Townships (JITs), which are exclusive zones for Japanese companies to establish production and business operations in India. There are 12 JITs across nine states, such as Neemrana and Ghiloth in Rajasthan, Sri City in Andhra Pradesh, Mandal Industrial Part in Gu

17. #17Practice set
    Consider the following pairs regarding types of market and their examples:Types of market Examples in real life 1. Monopoly The Indian Railways 2. Oligopoly Hotel industry in tourist places 3. Monopolistic Supermarkets Competition 4. Perfect The agricultural Competition marketHow many of the pairs given above are correctly matched?
    • AOnly one
    • BOnly two
    • COnly three
    • DAll four
    Answer: (B) Only two
    Explanation

    Option b is the correct can be differentiated based on market is represented by the nature and the level of exists for the goods and services in the l is correct: In a monopoly market a single firm provides the required goods or services in without any significant competition by another the said firm constitutes the entire industry. E.g., Railways, Microsoft in cloud computing, 2 is incorrect: Oligopoly is a market form in which few firms or providers which provide or sell differentiated products. E.g., the mobile phone in India consists of a very few operators like BSNL, which determine the demand and supply 3 is incorrect: As the nam.e suggests has the features of both Monopoly and Unlike monopoly, it has numerous is characterised by product differentiation in the product design or quality). E.g., The in tourist places, though provide overall but add little product differentiation in t

18. #18Practice set
    one of the following is not correct regarding the assumptions made in the law of demand?
    • AThere are no changes in the taste and preferences of consumers
    • BIncome of consumers remains constant
    • CThe consumer expects a change in the price of the product in future and considers it in the present
    • DThere are no changes in the price of substitute goods
    Answer: (C) The consumer expects a change in the price of the product in future and considers it in the present
    Explanation

    Option c is the correct law of demand states that, other things remaining the quantity demanded of a commodity is to its price. Other things being equal, if a price of falls, the quantity demanded of it will rise, the price of the commodity rises, its quantity decline. This law will be applicable only if the points are fulfilled

19. #19Practice set
    Which among the following is the best description of 'Production Possibility Frontier'?
    • AIt represents the maximum amount of goods and services that a country can produce
    • BIt represents the minimum amount of goods and services that a country can produce
    • CIt represents the possible quantities of production of two commodities when the production of these commodities depends on the same finite resources
    • DIt represents the total amount of resources available to a country that can be used for producing goods
    Answer: (C) It represents the possible quantities of production of two commodities when the production of these commodities depends on the same finite resources
    Explanation

    Option c is the correct production possibility frontier (PPF) is a curve the possible quantities that can be produced products if both depend upon the same finite their manufacture. The PPF is also referred to as possibility state of technology is taken to be constant. Since of one commodity can be increased decreasing the production of the other possibility curve also measures the of the commodities. The production helps in deciding the commodities most society, but this response is limited as there is a two commodities only

20. #20Practice set
    Which of the following reforms can be seen as part of Second-Generation Reforms (reforms onward 2001) in India? 1. De-reservation and de-licensing of the industries. 2. Dismantling of the Administered Price Mechanism. 3. Fully functional Panchayati Raj Institutions.Select the correct answer using the code given below
    • A1 and 2 only
    • B1 and 3 only
    • C2 only
    • D1, 2 3
    Answer: (C) 2 only
    Explanation

    Option c is the correct l is incorrect. The First Generation of 'de-reservation' and 'de-licencing' of 2 correct. Second Generation Reforms onwards) included the Factor Market Reforms, be considered as the 'backbone' for the success of process in India. It consists of dismantling of Price Mechanism 3 is incorrect. Reforms to create fully Raj Institutions, are seen as a part of Reforms in India

21. #21Practice set
    Which one of the following is not a reason for the phenomenon of jobless growth witnessed in India? Practiceb o o k
    • AJump from primary to tertiary sector in sectoral reallocation of economic activity
    • BGrowth in capital intensive sectors rather than labour intensive sectors
    • CLack of focus on higher education
    • DPoor manufacturing output growth and productivity
    Answer: (C) Lack of focus on higher education
    Explanation

    Option c is the correct a is correct: In most developed economies, there was a shift in the dominant sector Practiceboo volume of economic activity, from primary secondary (manufacturing) to finally tertiary b is correct: In both manufacturing and growth was led by ventures that were (automotive manufacturing, oil refining, ITES, etand not labour intensive (food apparel, leather, etc). So while the value added activity increased, very few people were the process causing jobless c is incorrect: Too much focus on that too limited in number in relation to is one of the reasons for jobless growth. education could not be ensured. This resulted in that did not have the basic skills required to in manufacturing sectors, thus contributing employment d is correct: The manufacturing sector by capital-intensive industries, and ones are mostly informal and unorganized productivity, low output, and l

22. #22Practice set
    How indusive growth can be brought in India? 1. Encourage job creation in the formal sector 2. Strengthen accountability within the education sector 3. Foster investment by promoting responsible business conduct 4. Empower local governments to take responsibility for infrastructure projectsSelect the correct answer using the code given below
    • A1, 2 and 3 only
    • B2, 3 and 4 only
    • C1, 2 and 4 only
    • D1, 2, 3 and 4 National Income
    Answer: (D) 1, 2, 3 and 4 National Income
    Explanation

    Option dis the correct l is correct: Encourage job creation in the by reducing the for by large firms, while strengthening service, training and re-employment 2 is correct: Strengthen accountability within sector, and raise the quality of teaching, better school 3 is correct: Foster investment hy business conduct and further easing foreign direct 4 is correct: Empower local governments to for infrastructure projects, and ensure levels of government provide incentives for cross jurisdictional co-ordination. National Income

23. #23Practice set
    With reference to Purchasing Manager's Index (PMI) and Index of Industrial Production (HP), consider the following statements: 1. IIP score is seen as a precursor to PMI as the data of latter comes out after some lag. 2. While the IIP is a measure of output, PMI measures activity at the purchasing or input stage. 3. The PMI is a private sector survey while the IIP is gauged by the government.How many statements given above are correct?
    • AOnly one
    • BOnly two
    • CAll three
    • DNone
    Answer: (B) Only two
    Explanation

    Option bis the correct l is incorrect - The manufacturing PMI any given month comes out either on the last day month or on the first day of the next month. The comes out after considerable delay, The data for month comes out almost one and a half months the PMI is released on the 1st of every month and the known on the 12th, the PMI score is assumed to be to the 2 is correct - While the HP is a measure PMI, as the name suggests, measures activity at or input stage. PMI is calculated on the basis received on a monthly basis from companies on various factors that represent demand conditions. IIP broader industrial sector compared to PMI. IIP change in production volume in major industrial like manufacturing, mining and 3 is correct - The PMI is a private sector the HP is gauged by the government. The Manufacturing PMI is based on data compiled survey responses by purchasing managers in 400

24. #24Practice set
    With reference to calculation of GDP in India, which of the following statements is correct?
    • AOnly the data from the Annual Survey of Industries (ASI) is used to gauge activity in the manufacturing sector
    • BIt is calculated on the basis of GVA method at basic prices instead of at factor cost
    • CThe base year for the calculation of GDP has been revised to 2016-17
    • DGVA at basic prices neither includes production taxes nor excludes production subsidies available on a commodity Practicebo '.Planning in India
    Answer: (B) It is calculated on the basis of GVA method at basic prices instead of at factor cost
    Explanation

    Option bis the correct is the Gross Domestic Product which is a measure the economic activities in a country. India uses while calculation of a is incorrect - The new GDP incorporates data on corporate activity than the old data from the Annual Survey of Industries comprises over two lakh factories, was used to in the manufacturing sector. Now, annual companies filed with the Ministry of Corporate Affairs - MCA21 - has been used. This is said to include lakh companies, bringing in more companies from and informal b is correct - The Central Statistical Office gross domestic product (GDP) the g.rnss (GVA) method - a way of calculating GDP at instead of at factor cost. The industry-wise be presented as gross value added (GVA) at hasic: pri while GDP at market prices will be referred to simply as concept of GVA is considered to be a heller indicator economic activities as it includes not onl

25. #25Practice set
    Which of the following were the key features of the Mahalanobis Model of the Indian Economy? 1. Rapid industrialization with a focus on heavy industries and capital goods. 2. Launch of price wage policy to check the menace of inflation on the wage-earners. 3. Focus on poverty reduction through Integrated Rural Development Program (IRDP).How many of the above given statements are correct?
    • AOnly one
    • BOnly two
    • CAll three
    • DNone
    Answer: (A) Only one
    Explanation

    Option a is the correct 1 is correct: The second five-year plan was to on the path of industrialisation. P.C. Mahalanobis moving spirit behind the second five-year plan. For Five Year Plan, the plan period was 1956-61. of growth laid emphasis on rapid a focus on heavy industries and capital goods. was developed by Professor Mahalanobis. Due to of a closed economy, shortages of food were felt during this 2 is incorrect: The Mahalanobis model did on price wage policy to check the menace of the wage-earners. This plan period also saw a lack in agriculture and a period marked by and drought leading to 3 is incorrect: The Sixth Five Year Plan ( 1980

26. #26Practice set
    Consider the following statements regarding provisions under the Industrial Policy Resolution, 1948: 1. It provided for mixed economy as the model of Indian economic system. 2. It provided for the creation of District Industries Centers (DICs) to promote the expansion of small and cottage industries. 3. It gave permission to the multinational corporations (MNCs) to set up subsidiaries in the country.How many of the above given slalemenls are correct?
    • AOnly one
    • BOnly two
    • CAll three
    • DNone
    Answer: (A) Only one
    Explanation

    Option a is the correct l is correct: Industrial Policy Resolution, the first industrial policy statement of India. It model of the economic system (i.e., the mixed 2 is incorrect: Decentralized given attention under Industrial Policy with the objective of linking the masses to the industrialization. The District Industries Centers set to promote the expansion of small and at a mass scale under this 3 is incorrect: Under the Industrial 1973, limited permission for foreign given and multinational corporations (MNCs) to set up subsidiaries in the Important Tips The major highlights of the Industrial Policy Resolution, 1948 are

27. #27Practice set
    In the context of economic planning in India, consider the following pairs:Economic Plan Feature 1. Bombay Central role of public Plan sector in developmen t of _ _apital goods industr y. 2. Sarvodaya Decentralized Plan based on village and 3. People's Plan Emphasis on heavy industries and impor t substitution.How many of the pairs given above are correct?
    • AOnly one
    • BOnly two
    • CAll three
    • DNone
    Answer: (B) Only two
    Explanation

    Option b is the correct 1 is correct: The Bombay Plan suggested that supported public sector has to take of providing capital 2 is correct: The Sarvodaya Plan was proposed Narayan in 1950. It was inspired by of Sarvodaya. The plan suggested laying emphasis and village-based cottage 3 is incorrect: The People's Plan suggested that emphasis of economic planning and resource be on improvement of agriculture (and not

28. #28Practice set
    Consider the following statements regarding India's five-year plans: 1. The First five-year plan primarily focussed on agriculture and price stability. 2. Mahalanobis plan advocated huge imports through foreign loans. 3. The Second five-year plan introduced the Industrial Policy 1956 to achieve the goal of a socialistic pattern of society.How many of the above given statements are correct?
    • AOnly one
    • BOnly two
    • CAll three
    • DNone
    Answer: (C) All three
    Explanation

    Option c is the correct l is correct. The First five-year plan between 1951-56. It was based on Model. The Plan primarily focussed on stability, power and 2 is correct. The Second five-year plan also known as Mahalanobis plan, focussed on heavy basic industries. For that huge imports through foreign loans. It resulted shortage of 3 is correct. During the Second five-year the Industrial Policy 1956 was introduced, establishment of a socialistic pattern of society as the economic policy

29. #29Practice set
    With respect to Bombay Plan of the pre independence era, which of the following statements is/are correct:? 1. The plan advocated for abolition of zamindari system. 2. The plan supported the Gandhian concept of village economy and denounced rapid industrialization. 3. It laid emphasis on promoting medium scale, small-scale and cottage industries. 4. It did not want the state to play any role in economy.Select the correct answer using the code given below
    • A1 and 3 only
    • B2 and 4 only
    • C1, 3 and 4 only
    • D1, 2, 3 and 4 BJ Fo
    Answer: (A) 1 and 3 only
    Explanation

    Option a is the correct l is correct. Bombay Plan laid emphasis restructuring. As a part of this, it of intermediaries (zamindari 2 is incorrect. Plan was in support of and emphasized heavy capital goods 3 is correct. It also gave importance to medium scale, small-scale and cottage industries as they employment and require lesser 4 is incorrect. Bombay plan wanted the play an active role. It was in the support of a where government plans, controls and different areas of the economy

30. #30Practice set
    With respect to the Sarvodaya Plan, which of the following statements is/are correct? 1. Both agricultural and industrial sector were equally highlighted by the plan. 2. It was inspired by the Sarvodaya concept of Vinoba Bhave. 3. The plan advocated for dependence on foreign capital and technology to promote industrial sector.Select the correct answer using the code given below
    • A1 and 3 only
    • B2 only
    • C2 and 3 only
    • D1, 2 and 3
    Answer: (B) 2 only
    Explanation

    Option b is the correct l is incorrect. Sarvodaya Plan was in line Plan and was majorly in support of small and cottage industries. It was M.N. Plan which gave equal importance to industrial 2 is correct. It drew major inspirations techniques of trusteeship and by the community as well as the Sarvodaya Vinoba Statement 3 is incorrect. The plan was in support of self reliance and emphasized almost no dependence on and technology

31. #31Practice set
    Consider the following statements: 1. Economic decisions are made through market systems in imperative planning. 2. Indicative plan recognizes consumers' sovereignty and producers' freedom.Which of the statements given above is/are correct?
    • A1 only
    • B2 only
    • CBoth 1 and 2
    • DNeither 1 nor 2
    Answer: (B) 2 only
    Explanation

    Option b is the correct l is incorrect. In imperative planning, are made through a central planning of a market system. There is the absence of private property, competition and of industrialists, 2 is correct. The essence of indicative planning it recognises not only consumers' sovereignty but freedom. It involves a middle path of and market mechanism-a kind of private and public activities

32. #32Practice set
    Which of the followintg best describes the term 'Financial Repression: sometimes in news
    • ASituation when economy is struck by unprecedented event for prolonged period
    • BSituation when saving rates are reduced in the economy
    • CGovernment restricts the companies from leveraging frorn market
    • DGovernment indirectly borrows from industry to pay off public debts
    Answer: (D) Government indirectly borrows from industry to pay off public debts
    Explanation

    Exp) Option d is the correct repression is an economic term that refers indirectly borrowing from industry off public debts. The overall policy actions result government being able to borrow at extremely rates, obtaining low-cost funding for

33. #33Practice set
    The proposed Open Network Digital Commerce can democratize digital commerce as
    • Ait uses Artificial Intelligence to exclusively show the products of small businesses when user searches for a product in the category
    • Bit will provide sellers and consumers with a greater number of options
    • Cit will be utilizing machine learning algorithms that essentially favor MSME and Cottage industries
    • Dit will limit access to big marketplaces to the consumers and will allow exclusive access to new and innovative businesses
    Answer: (B) it will provide sellers and consumers with a greater number of options
    Explanation

    Option b is the correct is an open e-commerce protocol set up by of Commerce's Department of Promotion and Internal Trade (DPIIT). Under ONDC, envisaged that a buyer registered on one site (for example, Amazon) may purchase a seller on another participating e-commerce site Flipkart). Presently, buyers and sellers have to the same app for a transaction which happens through platform. For example, a buyer needs to go to buy a product from a seller on Amazon. Main aim ONDC is to increase the accessibility to various the consumers and enable the e-commerce companies

34. #34Practice set
    With reference to Infrastructure Investment Trust consider the following statements:1. enable access to long-term funds for infrastructure creation. 2. are regulated by the Securities and Exchange Board of India (SEBI). 3. Retail investors are not allowed to invest in due to the risks involved.How many of the statements given above are correct?
    • AOnly one
    • BOnly two
    • CAll three
    • DNone
    Answer: (B) Only two
    Explanation

    Option b is the correct l is correct: can act as an vehicle to enable long-term funds creation, from both retail investors and 2 is correct: The are regulated by the Investment Trusts) Regulations, Statement 3 is incorrect: A retail or even a large may not be typically able to invest in such as roads, power, energy etc. enable to buy a small portion of the units being sold fund

35. #35Practice set
    Consider the following pairs:Government Associated. Initiative 1. IDEAS Scheme Research Innovation in Science 2. Credit MSMEs Guarantee Scheme 3. DIKSHA School educationHow many of the above pairs are correctly matched?
    • AOnly one
    • BOnly two
    • CAll three
    • DNone
    Answer: (B) Only two
    Explanation

    Option b is the correct l is incorrectly matched. Indian Scheme (IDEAS) provides concessional infrastructure projects in developing 2 is correctly matched. As part of Atma Nirbhar the government announced collateral free Rs. 3 lakh crores for MSMEs. A Credit (CGS) by the government assures the bank that will be repaid by the government in case the 3 is correctly matched. DIKSHA is a built tu host Opell Resuun.es tools for Teachers in Schools, Teacher Educators Education Institutes and Student Teachers

36. #36Practice set
    Which of the following sectors is/are covered under the National Infrastructure Pipeline Project? l. Modern railways stations 2. Safe drinking water 3. Airports 4. Healthcare for all 5. Bus terminals 6. Clean Energy Select the correct answer using the code given below: 5. What do you understand by the term "Swiss challenge" system of public procurement? they are willing to sell their goods and services. pre-qualified panel of firms without open advertisement. project, which is put before the public for proposals and the original candidate is allowed to match the best bid. before the public without giving any opportunity to original candidate. 6. The term "Unicorn", mentioned in the news recently, refers to: of the Hindu mythology. funding in a financial year. with a value of over billion. Great Nicobar Islands. 7.. Consider the following statements with reference to the National Start-up Advisory Council
    • A1, 3 and 5 only
    • B1, 3, 5 and 6 only
    • C2, 4 and 6 only
    • D1, 2, 3, 4, 5 and 6 1 OF 4
    Answer: (D) 1, 2, 3, 4, 5 and 6 1 OF 4
    Explanation

    Option d is the correct d is correct. National Infrastructure Pipeline an outlay of Rs 100 lakh Crore for over 5 years 2020-2025. is a to provide world-class infrastructure across and is aimed at improving the quality of life citizens. The project covers both economic infrastructure projects. The emphasis would be on ease safe drinking water, access to clean and for all, modern railway stations, terminals and world-class educational institutes. It jobs, improve ease of living, and provide to infrastructure for all, thereby making growth Important Tips The Government had created a task force, headed by Atanu Chakraborty, to draw up the National Infrastructure Pipeline (NIP) for each of the years from financial years 2019-20 to 2024-25. It submitted its final report to the Finance Minister in May 2020. Important recommendations: lakh crore investment needed over 2020-2025 to build infrastr

37. #37Practice set
    In which of the following processes, the "Coal Gasification" will potentially benefit Indian economy? 1. Production of Syngas 2. Manufacturing of Ammonia 3. Production of FertilizerSelect the correct answer using the code given below
    • A2 only
    • B2 and 3 only
    • C1 and 2 only
    • D1, 2 and 3
    Answer: (D) 1, 2 and 3
    Explanation

    Option d is the correct l is correct. Coal Gasification is the process syngas-a mixture consisting primarily of (CO), carbon dioxide gas (CH4) and water vapour coal air and/or 2 is correct. The hydrogen obtained from can be used for various purposes such as powering a hydrogen economy or 3 is correct. The syngas, obtained from can be used in a variety of applications in the production of electricity and making such as first coal gasification-based fertilizer plant will in Talcher, Odisha

38. #38Practice set
    With reference to Special Economic Zone (SEZ), consider the following statements: 1. SEZ is an enclave inside the customs territory of India for its operation. 2. Both the public and private entities can setup SEZs. 3. SEZ can be setup only for manufacturing and trading activities.How many of the statements given above are correct?
    • AOnly one
    • BOnly two
    • CAll three
    • DNone
    Answer: (A) Only one
    Explanation

    Option a is the correct is an enclave area which is outside the of India for its authorized operations. public, joint sector (private public state government can set up an SEZ. A foreign also set up SEZs in India. Different units related trading or for service activity can be set Special Economic Zones

39. #39Practice set
    In the context of Industrialization during the colonial period, which one of the following statement is correct?
    • AHandicraft industry saw a rapid growth in the second half of nineteenth century
    • BProduction of cash crop declined due to low process and exploitative policies
    • CRailways was introduced for the development of backward regions of country
    • DNone of the above
    Answer: (D) None of the above
    Explanation

    Option d is the correct answer. Handicraft industry declined with the start of in India. India became the net exporter of and net importer of finished goods produce Production of cash crops like cotton, tea increased during the British rule. This is commercialization of agriculture. During the the main purpose of developing infrastructure was to draw out the raw material from the and to mobilize the army within India

40. #40Practice set
    Consider the following statements: 1. Nehruvian economics advocated setting up modern Industries in India. 2. Gandhian economics was based on the socialism of USSR. 3. Nehruvian economics aimed at setting up of villages as autonomous and independent units.How many of the statements given above are correct?
    • AOnly one
    • BOnly two
    • CAll three
    • DNone
    Answer: (A) Only one
    Explanation

    Option a is the correct I is correct: Nehruvian economics was the combination of socialism and capitalism. to develop an economy based on modern Gandhi wanted a cottage industry-based 2 is incorrect: Gandhian economics is not Socialism of USSR. It was based on the spiritual principles of Gandhi ji. He propounded of Trusteeship as a socio-economic 3 is incorrect: Nehruvian economics is not setting up villages as autonomous and independent economics aimed at setting up of as independent units

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