Indian Economy Bit Bank
1.
The
permanent
Settlement System (1793) which gave rise to a new class, Zamindars, was
introduced by Lord Cornwallis.
2.
The
land
system under which the peasant himself owns the land and is responsible
for payment of land revenue to the government is known as Mahalwari System.
3.
The
first
paper mill in India was set up at Serampur,
West Bengal in 1812.
4.
The
1st
All India Population Census was conducted in 1872.
5.
Bombay Stock Exchange (BSE) is the oldest
stock exchange in Asia established in 1875.
6.
The
1st bank of
limited liability managed by Indians was OUDH Commercial Bank founded in 1881.
7.
The
1st
modern industry to develop in India was the cotton textile industry.
8.
The
major
trade partner of India in the pre-Independence
period was the United Kingdom.
9.
The
establishment of the Tata Iron and Steel Company (TISCO)
at Jamshedpur in 1907 was the
1st effort at large scale production of iron and steel in India.
10.
The Indian Iron and Steel Company (IISCO) was set up at Burnpur in 1919.
11.
1921 is regarded as the Year of Great Divide in the
history of India’s Population.
12.
The
1st unit of Iron and Steel
(now known as Visvesvaraya Iron and Steel Limited) in public sector started functioning at Bhadravathi in 1923.
13.
The
payment
and Wages Act was passed in 1936.
14.
Reserve
Bank of India (RBI) was established under
the Reserve
Bank of India Act, 1934 on April1, 1935 and nationalized on January 1, 1949.
15.
The
1st
ever institution set up to
provide finance in India was Industrial
Finance Corporation of India (IFCI) established in July, 1948.
16.
The
1st
Industrial Policy Resolution was presented in 1948.
17.
The
Minimum
Wages Act was passed in 1948.
18.
India
resorted
to devaluation of its currency for the 1st time in September, 1949.
19.
The
Planning
Commission of India was set up on 15th
March,1950.
20.
The
1st Five Year Plan was
launched on April,1951.
21.
The
Industrial
Credit and Investment Corporation of India (ICICI) was set up in 1955.
22.
Growth strategy adopted in 2nd five
year Plan is associated with the name of Prof. P.C.Mahalanobis.
23. Industrial Development Bank of India
(IDBI) was set up in 1964 as the apex development bank of country.
24.
Unit Trust of India (UTI) was set up in 1964 with an initial
capital of Rs.5 Crore.
25. The Agricultural Price Commission
was established in 1965 and
was renamed in 1985 as the
Agricultural Cost and Price Commission.
26.
Asia’s 1st EPZ set up in Kandla in 1965.
27. There was no Five Year Plan in operation
during 1966-69 (plan holiday) because
of Indo-Pak War in 1965.
28.
There
are 19
nationalised banks in India, 14 of them were nationalized on July19, 1969 and
6 other on April 15, 1980.
29.
The Differential
Rate of Interest (DRI) scheme was introduced in 1972.
30.
The
General
Insurance Corporation of India (GIC) was formed by the Central Government in November in 1972.
31.
The
1st 20-Point Programme
was launched on July 1, 1975
under the connotation of Garibi Hatao which was conceived by the late
Prime Minister Smt. Indira Gandhi.
32.
The
National
Thermal Power Corporation (NTPC) was set up in 1975.
33.
The
National
Hydroelectric power corporation was set up in 1975.
34. The Industrial Development Bank of
India (IDBI) delinked itself
from RBI and became an autonomous corporation in 1976.
35. The 1st Economic Census
to bridge the data gaps in the
unorganized sectors of non-agricultural economy was conducted
by the Central Statistical Organisation (CSO) in 1977.
36.
Integrated Rural Development Plan (IRDP) was launched in 1978-79.
37.
The
National
Scheme of Training of Rural Youth for self-Employment (TRYSEM) was
initiated on 15th August,
1979.
38. Estimates of the national income in India are prepared by the Central Statistical Organisation (CSO).
39.
All receipts and disbursements of the Union are kept under two separate
headings, namely, Consolidated Fund
of India and Public Account of India.
40.
Estimates of expenditure from the consolidated Fund of India are placed before the Lok Sabha in
the form of Demands for Grants.
41.
Tax proposals of the Budget are embodied in a
Bill which is passed as the Finance
Act of the year.
42.
The
paper
for making currency notes and other security papers are
manufactured at Security Mills,
Hoshangabad.
43. Among the non food grain crops, the
largest area in India is
devoted to the cultivation of oil
seeds.
44.
The
International
Bank for Reconstruction and Development is popularly known as the World Bank.
45.
The
minimum
number of persons required to form a Primary Cooperative Society is 10.
46.
The
major
portion of the total cropped area in India is taken by food crops.
47.
The
market
that performs the function of carrying goods to consumers, final
buyers, or to places of processing is known as the terminal market.
48.
The
task
of analyzing the Union Budget and suggesting improvements in economic
policies of the Government has been mainly assigned to the Estimates Committee.
49.
Andhra Pradesh has monopoly of quality Chrysolite asbestos in the country.
50.
A
six
point programme was launched to revamp
the Public Distribution System, giving Panchayati Raj institutions the authority to control the fair price shops.
51.
The
chairman
of the 1st Finance Commission was K.C.Neogy.
52.
John Maynard Keynes is known as the Father
of Modern Economics.
53.
Essay on “Principle of population as it affects the future improvement of
society’ is
written by T.R.Malthus.
54. Professor Gunnar Myrdal in his book “Asian Drama” has
discussed poverty in Asian countries.
55.
The
celebrated work on the Indian economic history known as “The industrial Evolution of
India in Recent Times’ was written by D.R.Gadgil.
56. The book ‘General Theory of Employment,
Interest and money, is written by John
Maynard Keynes.
57. The author of “Problems of capital Formation in
Underdeveloped Countries’ is Ragnar Nurkse.
58.
The
Communist
Manifesto and Das Capital are the works of Karl Marx.
59.
The
‘stages of Economic Growth” by W.W.Rostow was published in 1960.
60.
NABARD came into existence on July12, 1982.
61.
EXIM Bank was established on 1st January, 1982 for
financing, facilitating and promoting
foreign trade in India.
62.
SEBI initially constituted as a non-statutory
body on April12, 1988, was
given statutory status and powers through an ordinance promulgated on 30th
January, 1992.
63.
The
small
Industries Development Bank of India (SIDBI) was established in 1989 and started its operations from April2, 1990.
64.
Under
the New
Industrial Policy announced on July24, 1991, the number of
industries for which industrial licensing is compulsory is 15.
65.
The
National Stock Exchange (NSE) of
India was set up in November
1992.
66.
India
achieved full convertibility on
current account on August19,
1994.
67.
Panchayat Sanchar Sewa Yojana (PSSY) scheme was launched in 1995.
68.
Accelerated Irrigation Benefit Programme (AIBP) was launched in 1996-97.
69.
The
Swarna
Jayanthi Shahari Rozgar Yojana (SJSRY) was launched on December1, 1997.
70.
The Targeted Public Distribution System
was launched on June 1, 1997.
71.
The
Gift
Tax in India was first introduced in 1958 and abolished on October1, 1998.
72.
The Disinvestment
Commission which was set up in 1996 winded up its function on
November 30, 1999.
73.
Antyodaya programme was started first
of all in Rajasthan.
74.
The
National
Population Policy2000 outlines the long-term objective of achieving a stable
population by 2045.
75.
MRTP Act
has been replaced by Competition Act,
2003.
76.
India is the 4th largest economy in the world in terms of GDP at Purchasing Power Parity (PPP)
and 10th largest economy
in terms of GDP at prevailing exchange rates as per the World Development
Report, 2006.
77.
Bharat Nirman (2005-09) is a time bound plan
for action in rural infrastructure in areas of irrigation, roads, housing, water supply, electrification and
telecommunication connectivity.
78.
Good and Service Tax (GST) to be launched in India will replace VAT, CENVAT, MODVAT.
79.
Mid-day Meal Scheme was launched in 1995.
80.
Mauritius remained predominant source country of FDI to India followed by USA, UK &
Netherlands during 2000-2007.
81.
The
Scheme of Kasturba Gandhi Balika
Vidyalaya was merged with Sarva
Shiksha Abhiyan w.e.f April 1, 2007.
82.
National Investment Fund (NIF) became operational from November
3, 2005. The proceeds from
disinvestment of PSUs equity go to this fund.
83.
Fringe Benefit Tax is an additional tax introduced in Union Budget
2005-06 in order to bring
under the tax net fringe benefits received by the employee from his employer.
84.
Rashtriya Swasthya Bima Yojana (RSBY) launched
in 2007 will provide health cover of Rs.30,000/- for
every worker in the unorganized sector falling under BPL category and his
family.
85.
Indian Farmers Fertilizer Cooperative Organization (IFFCO) will establish country’s 1st Kisan SEZ at Nellore
district in Andhra Pradesh.
86.
Pension Fund Regulatory Development Authority (PFRDA) operationalised New Pension Scheme by appointing National Securities Depository Ltd.
(NSDL) as Central Record Keeping Agency (CRA).
87.
11TH Plan gives priority to agriculture, education, health and infra
sector sectors.
88.
Indira Awaas Yojana aims at providing dwelling units, free of cost to poor
families of SC,ST, freed bonded labour and persons below poverty line.
89.
Title of the approach paper in 11th Five Plan is “Towards Faster and More Inclusive Growth”.
90.
The 1ST
largest agro-based industry is textile
industry, the second being sugar industry.
91.
The
three
important gold fields in the country are Kolar Gold Field, Hutti Gold Field (both in Karnataka) and Ramagiri Gold Field (Andhra Pradesh).
92.
India has 7 Export Processing Zones (EPZs) at Kandla (Gujarat), Santacruz (Maharashtra), Cochin (Kerala), Chennai
(Tamil Nadu), Noida (UP), Falta (West Bengal) and Vishakhapatnam(A.P).
93.
The
most
important competitor of Indian Jute in the international market is Bangladesh.
94.
West Bengal is by far the most important rice-producing state in India.
95.
SJSRY is a merger of three schemes : the Nehru Rozgar Yojana, Urban Basic Services for poor and PMIUPEP.
96.
Punjab National Bank is the 1st Indian bank to
set up a branch in Afghanistan.
97.
The
Industrial
Credit and Investment Corporation of India
(ICICI) was the 1st
Indian company to be listed in New York Stock Exchange (NYSE).
98.
India is the world’s leading producer of mica
sheet and accounts for about
60% of global mica trade.
99.
Gross domestic product (GDP) gives a more accurate picture of economic growth as compared to GNP( Gross
National Product)
100.
The real GDP per capita is the economic indicator and the life expectancy
and educational
attainment are social indicators in HDI.
101.
Approximately 32% of the irrigated areas in India
are watered by canals.
102.
The
gilt-edged
market is the market in
government securities.
103.
Sikkim has the largest area and highest
production of Cardamom in India.
104.
The
chairman
of the 12th Finance Commission is C.Rangarajan.
105.
Indicative Planning was followed in
USSR and was used in France.
106.
Recommendations of the 13th Finance Commission covers
the period 2010-2015.
107.
Integrated Rural Development was stressed during
the 6th Plan.
108.
Savings of private corporate sector constitute
undistributed profits.
109.
Savings of government sector constitute excess
of revenue receipts over revenue
expenditure.
110.
Since 1982, NABARD has been playing the
greatest role in supplying and
overseeing rural
credit in India.
111.
Disguised unemployment is present only in
agriculture.
112.
Disguised unemployment is a major cause
of the low standard of living in the rural areas.
113.
Disguised unemployment can be useful in India’s development process as a Source of
potential saving.
114.
One
of the significant changes brought about
in the field of agriculture by the Britishers
was commercialization of crops.
115.
The
important
cash crops encouraged by the Britishers were Opium, Indigo and cotton.
116.
As
a consequence of British rule, Indian economy became a poor and dependent
economy. This dependence
is reflected in change in occupational structure and foreign
trade.
117.
India
ceased
to be an important manufacturing country during the British regime due
to
British commercial policy.
118.
Economic development has been retarded
in India mainly due to poor infrastructural facilities.
119.
India is termed as a developing economy because
of her initiative for determined planned
economic development.
120.
Socialistic pattern of society comes through mixed economy.
121. Largest proportion of India’s
population during 1990-91 was engaged in
Agriculture and
forestry.
122.
L.C.A.Knowles attributed India’s economic stagnation to her religious and social structures.
123.
By deindustrialisation we mean a deliberate effort to compel the
existing industries to shut
down.
124. The two major industries that were
directly hit by partition of the country were jute and
cotton textile.
125.
New bank of India and Punjab National Bank were merged on 4th September,1993.
126.
The
Statutory
Liquidity Ratio (SLR) for commercial
banks in India can be raised to a
maximum level of 40%.
127.
The
largest proportion of holdings in
India is in marginal holdings (0-1
hectare).
128.
One
if the major changes observed during the four decades of planning of India has
been
that India has emerged more or less self-reliant in terms of
food grains.
129.
It
will be true to classify India as a labour-surplus economy.
130.
Land is a renewable natural resource.
131.
The
most
important source of energy in India is Firewood and charcoal.
132.
The most
important source of commercial energy in India is Petroleum.
133.
The
most
important use of electric power in India is Industry.
134.
India imports copper.
135.
The
number
of industries reserved exclusively for the public sector is 3.
136. Dandekar and Rath had estimated the percentage
of rural population living below the
poverty line in 1960-61 as 40%.
137. Import liberalization for the
domestic market as a strategy would tend to raise the ratio of
imports to GDP in the immediate future.
138.
For international comparisons to measure the level of economic well-being
in different
countries, we make use of data relating to real per capita income.
139. Technically, disguised unemployment is defined as a situation in which the marginal
productivity of labour is Zero.
140.
FEMA replaced FERA in year 2000.
141.
Removal of unemployment has been considered a centre-piece of strategy in the 8th
Plan.
142.
Food for Work programme was being managed by the Reserve Bank of India.
143. The pattern of India’s exports
indicates that non-traditional items
like engineering goods,
handicrafts, iron-ore and chemicals are growing in importance.
144. The theory of demographic transition postulates a 3 stage sequence of birth and death rate as typically associated with economic development. Population explosion occurs in
the second stage when high birth rate
meets with low death rate.
145.
The
rate
of growth of population has been highest during the decade 1971-1981.
146.
Growth rate of population can be measured by
subtraction of death rate from birth rate.
147. Birth rate in the country is measured more generally as the number of children born per
1000 population in the country.
148.
Infant mortality rate refers to the proportion of children dying within a year of their birth.
149. The percentage distribution of the age composition of India’s population shows
the highest population to be in the age group 15-60 years.
150.
Large percentage of the population in the age group 0-4 years indicates the presence of
unproductive consumers.
151.
Density of population indicates the Man-Land
ratio.
152. Changes in the urban-rural ratio measures
the relative growth of urban and rural
population. This ratio in India over the years has changed in favour of
urban areas.
153.
Life expectancy refers to the number of years a new born child can expect to live. In
India,
life expectancy has been very low as compared to that in
other countries and over the
years it has shown some increase.
154. Rapidly growing population retards
economic growth in a number of ways but positively,
not in which it limits the supply of labour.
155. Occupational structure refers to the
distribution of working force among the different
occupations.
156.
According
to 2001 Census, population living in rural
and urban areas is 72% and 28%
respectively.
157.
The life expectancy in the country according to the 2001 census is 62 years.
158. Rural Landless Employment Guarantee Programme (RLEGP) was introduced in August
1983.
159.
RLEGP was 100% centrally funded programme.
160.
RLEGP was merged with NREP to form JRY.
161.
The
causes of decline in population are
a)
Occurrence
of families
b)
Increase
in epidemics
c)
Malnutrition.
162.
A
full-fledged
Department of Family Planning was created in the year 1966.
163.
The
impact
of decrease of population on economy is increase in per capita income.
164.
Birth rate is No. of births in a
year x 100.
Population
165.
The
Government
of India adopted a national programme of Family Planning in the year 1952.
166.
The
main factor for the accelerated
growth of population in India is a high birth rate and a falling death rate.
167.
The
real determinant of the size of market
in a country is the income of its
population.
168.
The
occupational
structure of India’s labour force since 1951 has remained more or less static.
169.
In
Indian towns and cities the demand for housing has been increasing steadily owing to
increase in both population and real income of the people.
170.
The
Planning
Commission has defined the poverty line for urban areas on the basis of average nutritional
requirements of 2100 calories per person per day.
171.
The
main
reason for the high growth of money supply in India since 1970 has been
the rise in RBI credit to the
government.
172.
According
to the 5th Plan, the
main causes of poverty were under-development and unequal income distribution.
173.
Minimum Needs Programme was initiated to fight poverty in the 5th Five year plan.
174.
IRDP was concerned with
a)
Growth
and production.
b)
Full
employment within a certain period.
c)
Providing
benefits to the identified target group in the lower strata of rural community.
175.
FDI limit in Indian Private sector bank is ( as on 1st January 2007)
was 74%.
176.
The
Reserve Bank of India acts as a banker’s bank. This would imply that
a)
Other
banks retain their deposits with the RBI.
b)
RBI
lends funds to the commercial banks in times of need.
c)
RBI
advises the commercial banks on monetary matters.
177.
Fiscal deficit forms the largest share
of deficit in Government of India Budget.
178.
Integrated Rural Development Programme also keeps an eye on how the various programmes relating to uplifting the
poor of rural India are working.
179.
The
government
of India provides 75 % of the actual recurring establishment expenditure
but not exceeding Rs.307.5 Lakh.
180.
Education
does not come under the economic infrastructure of our economy.
181.
The
basic
objectives of Drought Prone Area Programme are
a)
To
minimize over a period of time, the adverse effects of drought.
b)
To
optimize the utilisation of all resources in the area.
c)
To
improve the living conditions of the poor who suffer the most in times of
scarcity and drought.
182.
The
basic
objectives of the IRDP are
a)
Covering
600 families in each block every year.
b)
Provision
of assets and inputs to the rural poor for enabling them to rise above the
poverty line.
c)
Reduction
in unemployment in rural areas.
183.
The
government’s
measures to remove poverty have yielded little results, because of
a)
Under
utilised resources.
b)
Low
agricultural productivity.
c)
Inequalities
of income.
184.
The
government’s
measures to remove poverty have yielded little results, because of
a)
Corruption.
b)
Misuse
of funds
c)
Poor
administration.
185.
The
thesis
of Colin Clark and A.G.B.Fisher regarding the relation between economic development and occupational structure
and as corroborated by the empirical evidence has been that higher per capita
income is inversely correlated with the proportion of active population engaged
in agriculture.
186.
The empirical evidence testifies that as an economy develops, the share of the secondary and tertiary
sectors in the occupational structure rises.
187.
One
of the reasons why India’s occupational structure has not changed over the
years has been investment pattern of
the various plans has been directed towards capital intensive industries.
188.
In the initial stages of growth the proportion of workforce in agriculture
declines, the absolute number
increases.
189.
The
major
problem that obstructs any change in India’s occupational structure is
a)
A
fast rising working force.
b)
The
presence of a large backlog of unemployment.
c)
Inadequacy
of where withal to provide work in non-agricultural sectors.
190.
Higher per capita income in inversely correlated with the proportion of
active population
engaged in agriculture.
191.
National income calculated at current prices has shown a tendency to
rise at a faster rate than national income calculated at constant prices.
This is because general price level
in the economy has been rising fast.
192.
Share of the government sector in Net Domestic Product at current prices has steadily risen since
1950-51. This is indicative
of the fact that the role of the public sector in the economy has been
increasing.
193.
Net National Product at market prices has always been more than Net National Product at factor cost.
This is indicative of the fact that
the net balance of indirect taxes minus subsidies in the economy has always
been positive.
194.
Net Domestic Product of the economy will tend to be more than the Net
National Product
if the net earnings from abroad are
negative.
195.
In
India, the value of output originating in the agricultural sector is measured
with the help of Net Output
Method.
196.
The value of Output originating in banking and insurance sectors is measured with the help of the Net
Income Method.
197.
Expenditure method is used in calculating
the income originating in Construction sector.
198.
Largest contribution is made by the agricultural sector to the national
product. In Commerce,
transport and communications sector of the economy has productivity been the
highest.
199.
Net Product of the Public sector originates from
a)
Government
administration.
b)
Departmental
enterprises
c)
Non-departmental
enterprises.
200.
When
we use the term quality of income, we
generally allow for differences in income arising out of the differences in
economic functions.
201.
Since
independence
the government has taken certain steps to decrease inequalities. But Industrial Licensing system goes
contrary to the declared aim.
202.
In
order to reduce inequalities the government should adopt progressive
system of taxation.
203.
Real economic welfare is measured in terms of
a)
Increased
real per capita GNP
b)
Better
distribution of income.
204.
Capital formation means additions to the stock
of producer’s goods.
205.
Capital formation in any economy can be estimated by
measuring the net change in the value of the assets in a given period in
a)
The
government sector.
b)
The
household sector.
c)
The
corporate sector.
206.
Net capital formation for an economy can be known by adding net inflow of foreign
capital to the sum of net change in the value of fixed capital assets produced
in an economy in a given period.
207.
The
difference
between gross domestic capital formation and net domestic capital formation is
known as depreciation.
208.
Capital-output ratio refers to the number
of units of capital required to produce a unit of output.
209.
The
largest
share of savings accrues in the household
sector.
210.
The
basic
cause of inequality of income is
a)
System
of private property.
b)
The
laws of inheritance.
c)
Differences
in opportunities.
211.
The
New
Economic Policy in India includes
a)
Fiscal
reforms.
b)
Structural
reforms
c)
Financial
sector reforms.
212.
Venkatappaiah headed All-India Rural Credit Review Committee.
213.
The
main
purpose of regulated markets in agricultural marketing in India are to
a)
Ensure
market access to farmers
b)
Eliminate
unhealthy market practices.
c)
Reduce
market charges.
d)
Ensure
fair price.
214.
Cropping pattern refers to relative
distribution of cropped area under different crops at a given point of time.
215.
Estimates of national income in India are prepared by Central Statistical Organisation.
216.
One of the problems of
estimating national income in India is non-monetary
transactions.
217.
A
better
index of economic welfare of a country is real per capita product.
218.
Economic development is characterized by certain structural changes. Development in the Indian economy has been characterized by
a)
Fall
in the share of agriculture in national income.
b)
Fall
in the share of primary exports in total exports.
c)
A
relatively small fall in the proportion of labour force in primary sector.
219.
The
economist who drew attention to relationship
between economic growth and structural
changes was Simon Kuznets.
220.
As
economic
development proceeds
a)
The
share of primary sector in national product fails.
b)
The
share of secondary sector rises.
c)
The
share of tertiary sector rises.
221.
In
India
during the process of economic development in the last 5 decades the share of
agricultural sector in national product has registered a decline.
222.
The
increase
in national income as a measure for economic growth is in real terms.
223.
By
changes
in the national product we measure
the economic growth of India.
224.
As
on 1st
January 2007. In India rupee is fully
convertible at Current Account only.
225.
The
growth
strategy adopted in the second Plan emphasized the growth of heavy industries.
226.
In
most of the developed countries, the rate
of growth has been highest in the tertiary sector.
227.
The
Growth
strategy adopted in our plans is associated with the name of Prof. P.C.Mahalanobis.
228.
Private sector savings comprise of savings accruing in the following sectors.
a)
The
Private corporate sector.
b)
The Co-operative sector.
c)
The
house hold sector.
229.
A mixed capitalistic economy is characterized by the existence of simultaneously the public,
cooperative and private sectors.
230.
Indian planning is democratic in nature.
231.
The
period of economic planning in India
began on April 1, 1951.
232.
The
4th Five Year plan of
India started on April 1, 1969.
233.
The
5th Five Year plan of
India terminated on March 31, 1979.
234.
Due to India-Pakistan conflict in
1965, finalization of 4th
Plan was delayed. The planning process during the intervening period
was carried out through 3 Annual
Plans.
235.
Self-reliance means
a)
A
long-term equilibrium in the balance of payments.
b)
Self-Sufficiency
in the capital goods sector.
c)
Self-Sufficiency
in highly technical manpower.
236.
The
strategy
of economic development adopted in our plans during the period 1956-78
emphasised the growth of heavy
capital goods industries.
237.
In
the
7th plan (1985-90) there was marked shift in favour of consumer goods industries.
238.
In the strategy of development adopted, the responsibility for the development
of heavy capital goods industries was placed largely on Public sector.
239.
The responsibility of maintaining the supply of essential consumer goods
was placed on small scale
industries.
240.
The heavy industry-led growth strategy can be aptly summed up in the phrase More consumption
for future generations.
241.
By financing of plan we mean raising
financial resources to execute the programme incorporated in a plan.
242.
Irrigation is
the most crucial input in India’s
agriculture, responsible for the Green Revolution.
243.
External assistance as a source of
financing of outlay in the public sector was highest in the 3rd
plan. It amounted to 28.3% of
total financial outlay.
244.
Population growth rate in India was negative
in 1911-21.
245.
Foreign capital may take one of the following forms.
a)
Foreign
collaboration.
b)
Direct
entrepreneurial investment.
c)
Loans
to private or public enterprises.
246.
IDA is called Soft Loan Window.
247.
IBRD assistance to India has taken the form of
loans to public and private enterprises.
248.
Aid to India from the East European countries has largely taken the form
of aid through trade.
249.
Indian agriculture is described as semi-commercialised
farming. It implies that Indian
agriculture is neither fully commercialized nor wholly of the subsistence type.
250.
Productivity of land in Indian agriculture is low, among others, due to defective tenurial system and small-sized holdings; these
factors are known as institutional factors.
251.
Agriculture contributes to industrial
development by raising cash incomes to stimulate demand for industrial products.
252.
The
share
of financial resources allocated for agriculture and allied sectors during
the 1st plan as a
percentage of total financial outlay was approximately 15%.
253.
Intensive agriculture forms an integral part of agricultural development
strategy in India.
By intensive agriculture we mean
making use of better agricultural techniques to raise the productivity of land.
254.
When
we talk of growth rate in agriculture we mean the annual growth in agricultural production.
255.
The number of Export Processing Zones (EPZs which have been
converted into Special Economic Zones (SEZS) BY SEZ act, 2005 is 8.
256.
Slow progress of agriculture in India can be attributed to
a)
Inadequate
irrigation.
b)
Slow
spread of new technology
c)
Defective
land system
257.
The
major
achievements in the agricultural sector during the five year plans
include
a)
Initiation
of the green revolution.
b)
Increase
in irrigation facilities.
c)
Self
sufficiency in food grains.
258.
The
major
sources of irrigation in India are Wells.
259.
Domestic investment in India has always been financed by domestic saving largely.
260.
In
India, infrastructure is partially state monopoly.
261.
Cotton textile industry cannot be considered
as a basic industry.
262.
Sugar industry is practicing dual pricing
policy.
263.
The
largest
share of savings in India accrues from the household sector.
264.
Basic concepts relating to the measurement of unemployment are
a)
Usual
status
b)
Person
weeks.
c)
Person
days.
265.
A
Subsistence
agriculture is one in which the farmer
a)
Produces
primarily food crops.
b)
Does
not take any loans from institutional agencies.
c)
Sells
all his crops to the village money lender.
266.
Higher investment as visualized in our plans means establishment of new industries.
267.
Goods ordinarily demanded at low levels of income are termed as wage goods.
268.
The
share
of direct taxes as a percentage of GDP in the Post-Independence period has
remained stagnant around 2.5%.
269.
The
1st
Five year plan of India aimed to
a)
Rehabilitate
the devastated economy from effects of World War-II and partition.
b)
Solve
the food crisis.
c)
Check
the inflationary tendencies.
270.
The
objective
of the 1st Five year plan was to correct the damage caused to the economy by the Second World War and
partition of the country.
271.
The
functions
of the Planning Commission in India are
a)
Perspective
planning.
b)
Appraising
the plan’s progress from time to time.
c)
Assessing
the required machinery for implementing the plan.
272.
National Development council finally approves
the draft of the Five year plan.
273.
The
objectives
of the 2nd Five year Plan
a)
Increased
national Income.
b)
Rapid
industrialization with special attention to heavy and basic industries.
c)
Expansion of employment opportunities.
274.
In
the 2nd
Five year Plan the highest priority was given to the development of industry.
275.
The
3rd
five year plan covered the period 1961-62
to 1965-66.
276.
The
objectives
of the 3rd Five Year plan are
a)
Import
of machinery for expanding indigenous industries.
b)
To
expand agricultural inputs for exports and industry.
c)
To
secure self-sufficiency in good grains.
277.
India’s 4th Five year Plan covered the period 1969-70 to 1973-74.
278.
There
was no
5 year plan in operation during 1966-69.
The
immediate reason for suspension of planning was
a)
Droughts
and floods
b)
Conflicts
with china and Pakistan.
279.
Under
the 5 year plans, since 1950-51, in India both unemployment and employment have
increased.
280.
The
objective
of removal of poverty was specifically stressed in our plans for the 1st
time in the 5th plan.
281.
Abolition of intermediaries can be said to have been fully
implemented by now in India.
282.
There
are 196
Regional Rural Banks (RRBs) in India as on March 31, 2005.
283.
Employment Guarantee Scheme was 1st
introduced in Maharashtra.
284.
Perspective Planning means Planning for
future so as to meet the long term requirements of development in the country.
285.
Industrial development in India has been retarded due to
a)
Labour
unrest.
b)
Power
shortage.
c)
Capital
deficiency.
286.
Industrialisation
a)
Helps
to build up the necessary infrastructures.
b)
Can
also supplement agricultural growth.
c)
Can
raise the employment opportunities.
287.
On the eve of the 1st Five
year plan, the industrial development in India was
confined largely to consumer goods sector.
288.
The oldest large scale industry of India is Cotton textiles.
289.
Product method is used in the following sectors
while computing national income In India.
a)
Agriculture
and allied activities.
b)
Mining
and quarrying.
c)
Registered
manufacturing.
d)
Unregistered
manufacturing.
290.
The
number
of industries included in Schedule A of the 1956 Industrial Policy Resolution were
17.
291.
A
Joint
Sector is defined as a sector in which both public sector and private sector.
292.
A
Public
Sector in India is so designed as to supplement private sector.
293.
The
private
sector in India’s mixed economy has grown alongside public sector.
294.
A
small
scale industry is one in which capital
investment does not exceed Rs.1 crore.
295.
A
tiny
unit is defined as a unit
with capital investment of Rs. 5lakh.
296.
The
main
components of New Economic Policy (NEP) include
a)
Relaxation
of controls on trade and industry.
b)
Re-orientation
of fiscal policy.
c)
Bigger
role for the private sector.
297.
While lending, the IFCI requires the security of fixed assets such as
a)
Land.
b)
Buildings
c)
Plant
and machinery.
298.
The
apex
institution in the field of industrial finance is industrial development Bank of India.
299.
The Industrial Development Bank of India is owned by the Reserve Bank of India.
300.
The
major
share of financial assistance, extended by the development banks and investment
banks goes to Private sector.
301.
In
1976 IDBI was delinked from RBI and
made an autonomous corporation.
302.
A
mission
from the World Bank, for the purpose of developing small and medium industries
in the private sector, sponsored
the setting up ICICI.
303.
The
ICICI
was registered in 1955 with an authorized
capital of rs.25 crores
304.
The
main
functions of the ICICI include
a)
Assisting
in the creation, expansion and modernization of industrial units in the private
sector.
b)
Encouraging
the inflow and participation of foreign capital in these units.
c)
The
expansion of the industrial market in India.
305.
The need for State Financial Corporations was to cater to the financial
needs of small and medium
sized industrial concerns.
306.
The number of SFCs in the country (at the end of 2006) was 18.
307.
The primary objective of Industrial reconstruction Bank of India is
to reactive the productive capacity
of sick and closed industries.
308.
Unit Trust of India was set up in the year
1964.
309.
Working Capital in a business means its circulating
assets-stocks, cash and debt owing to it.
310.
Steps
taken by the government mainly to solve the difficulties of small scale
industries include
a)
Development
of industrial estates and facilities for marketing.
b)
Special
items of production reserved for small industry.
c)
Establishment
of the Exim Bank.
311.
The
kind
of chemical fertilizer which is consumed most in India is nitrogenous.
312.
The
main
problems of jute industry in India are
a)
Uncertainty in availability of raw jute.
b)
The
emergence of substitutes in international market.
c)
Irregular
power supply.
313.
The
two
leading centres of cotton textiles are Mumbai and Ahmedabad.
314.
The
main
problem which the cotton textiles are
a)
Non-availability
of raw material.
b)
Outdated
plant and machinery
c)
Labour
problem.
315.
The
Monopolies
and Restrictive trade Practices (MRTP) Act was adopted by the
government in the year 1969.
316.
The
share
of agriculture in India’s national income in 1950-51 was 51.3 %.
317.
The
main
characteristics of Indian agriculture at the time of independence were
a)
Low
productivity per hectare
b)
Use
of primitive tools and implements
c)
Fragmented
and sub divided holdings.
318.
A system in which the farmer produces primarily for market sale is
known as commercial farming.
319.
The
maximum
number of holdings in India is Uneconomic
holdings.
320.
The
steps that has to be taken to make the
agrarian structure growth oriented are
a)
Abolition
of intermediaries.
b)
Tenancy
reforms
c)
Consolidation
of holdings and ceiling on holdings.
321.
The
long –term Fiscal Policy was
initiated by the Government of India
in 1985.
322.
Since
independence, India has made the
greatest progress in the production of Wheat.
323.
Capital formation in an economy depends on total
income.
324.
The
largest
part of the land sown in India is devoted to Rice.
325.
The
area under food grain crops, as a
percentage of total cropped area amounts to about 75%.
326.
Among
the non-feed
grain crops, the largest area is devoted to the cultivation of Oilseeds.
327.
To
raise
productivity in agriculture, it is necessary that better inputs are made available to agriculturists.
328.
By
land reforms we mean improvement
in agrarian relations and also enlargement of the size of small units of
cultivation.
329.
The two basic objectives of land
reforms in India are to promote
growth and social justice in the agrarian economy.
330.
The
system
under which the peasant himself owns the land and is responsible for payment of
land revenue to the government is known as Ryotwari System.
331.
Absentee landlord means that the land lets out his holdings and claims a share of the produce in the
form of rent.
332.
About
55%
of the total holdings in India are in the size class of 0-1 hectare.
333.
Land reform is needed because
a)
Under
present arrangement, farmers have little incentive to improve productivity.
b)
Output
levels will unquestionably rise.
c)
There
is grave inequity in the distribution of land.
334.
The
primary
barrier to land reform is opposition by the land owners.
335.
When a tenant enjoys permanent right on land and cannot be evicted from
land as long as he pays rent, this type of tenant is known as occupancy tenant.
336.
By ceiling on holdings, as presently defined in India, we mean that a family cannot own land beyond the prescribed maximum.
337.
A
holding
which gives full employment to an agriculturist’s family and allows a
reasonable standard of living is known as economic holding.
338.
The
factors
determining the size of economic holding are
a)
Farming
techniques and practices
b)
Social
conditions relating to the status of land-ownership.
c)
Geographical
and climatic conditions.
339.
Ceiling on holding is not a solution for the problem of
sub division and fragmentation of holding.
340.
By consolidation of holdings, we mean that the owner
of several scattered pieces is given land at one place equivalent to all his
pieces.
341.
By
Green Revolution, as it has
happened in India, we chiefly mean
large increase in production of food grains which took place in a short span of
time.
342.
Green revolution in India is largely the result
of application of new techniques of agricultural production.
343.
The
major
reasons for the spread of Green Revolution only to a few crops are
a)
Urgent
necessity of devoting more attention to food grains.
b)
Heavy industry-biased strategy adopted in our
plans required a substantial step-up in the basic wage good viz., food grains.
c)
Slow
growth of HYV seeds in case of other crops.
344.
The following steps were taken to bring the small and marginal farmers
within the ambit of the Green Revolution
a)
They
should be given adequate credit facilities.
b)
They
should be encouraged to join cooperatives.
c)
They
should be supplied farm machines on hire-purchase basis.
345.
Mechanization of agriculture in India is advocated on the ground that it will raise
agricultural productivity.
346.
By
Package programme we mean
using together all agricultural inputs for raising production.
347.
The core of the new agricultural strategy as
adopted in India consists of seeds
and fertilizers.
348.
Agricultural technology is hard to spread because
a)
It
has to be adapted to local conditions.
b)
Rural
people are frequently not receptive to outside ideas.
c)
Subsistence
farmers are afraid of experiment for fear of failure.
349.
Short-term finance is usually for a period
ranging up to 15 months.
350.
Medium-term finance is usually for a period
ranging up to 5 years.
351.
The
major
institutional source of finance in the agricultural sector is Regional Rural Bank.
352.
The
National
Bank for Agriculture and Rural Development is a development Bank.
353.
The national Agricultural Credit (Stabilization) Fund set up by the
reserve Bank of India extends medium-term loans to agriculture.
354.
The
Reserve
Bank of India provides refinance
to agriculture.
355.
By marketing of agricultural produces we mean a process whereby the producers and
the buyers of the agricultural produce are brought together.
356.
The
causes
of economic disparity in India include
a)
Unemployment
b)
Poverty
c)
Fall
in real wages
357.
Professional Tax is collected by Panchayats.
358.
The period 1968-69 was not covered under any of the five Year
plans of India.
359.
A fall in exchange rate of Indian Rupee would
result in an expansion in India’s imports.
360.
To
prevent
recurrence of scams in Indian Capital Market, the Government of India has
assigned regulatory powers to RBI.
361.
Intensive Agricultural District programme was started in the year 1962-63.
362.
Indian Council of Agricultural Research was set up in the year 1965.
363.
Measures contemplated to achieve land reform in India were
a)
Abolition
of Intermediaries.
b)
Tenancy
reforms.
c)
Reorganisation
of agriculture.
364.
The
major
measures of tenancy reforms are
a)
Regularization
of rent.
b)
Security
of tenure.
c)
Ownership
rights to the tenants.
365.
The main objective of the government for declaring support price to major
crops is to ensure
remunerative prices to farmers even in the event of bumper crops.
366.
Support Price for an agricultural commodity is the floor price below which it cannot be sold.
367.
An
irrigation
project is described as major if it covers a minimum of 10,000 hectares.
368.
The
main
cause of sub-division and fragmentation of holdings in India is
a)
The
laws of inheritance.
b)
Mounting
pressure of population on land.
c)
The
break up of joint family system.
369.
The
measures
advocated for solving the problems of sub-division and fragmentation
are
a)
Expansion
in employment opportunities outside agriculture.
b)
Consolidation
of holdings.
c)
Cooperative
farming.
370.
Land reforms can be affective only if
a)
Land
ceiling laws are enforced.
b)
Consolidation
of holdings are completed in all states.
c)
Tenancy
reforms are implemented.
371.
The
primary
aim of the functioning of public distribution system is to protect the
interests of the vulnerable sections of the population against high prices of essential
commodities.
372.
The
major
defect of the market system for agricultural produce in India is
a)
Inadequate
storage facilities.
b)
Inadequate
facilities of credit.
c)
Inadequacy
of institutional marketing.
373.
The defects of agricultural marketing system in India are
a)
Malpractices
in buying and selling.
b)
Lack
of grading and standardization.
c)
Non-availability
of marketing information.
374.
A
defective
agricultural marketing system works as a barrier to economic growth in
general because it works as a
disincentive to the farmers to sell in the markets and thus reduces the size of
the marketed surplus.
375.
A
marketing
system in which the management of the markets is entrusted to a market
committee is known as Regulated
marketing.
376.
A
major
benefit of cooperative marketing is that it enables farmers to reap the cost
reducing benefits of large
scale selling.
377.
By market intelligence we mean provision of information regarding prices, demand and other market
conditions to the farmers.
378.
In India, with the introduction of
economic planning particularly after 1962, the previous trend of stagnancy in
agriculture was reversed as there was a significant rise in the cultivation
area and productivity.
379.
Dantwala Commission appointed by the
RBI in June 1977 to
evaluate
the performance of Regional Rural Banks in the light of objectives for which
they were set up.
380.
After
Hindu and Muslims, Christian religion has highest population in India (2001
census).
381.
Government measures to solve the food problem have been concerned with
a)
Distribution
of food grains
b)
Price-fixation
of food grains.
c)
Providing
fertilizer subsidy.
382.
The
prices
at which the government purchases food grains for maintaining the public
distribution system and building up buffer stocks are known as Procurement prices.
383.
The
Food
Corporation of India was set up on 1st
January, 1965.
384.
Agricultural labourers are defined as those persons who do not own land
but work on it for wages.
385.
The 2nd Agricultural Labour Enquiry reported that agricultural workers remain totally
unemployed for 128 days in a year.
386.
Subsidy was expected to be shared in the ratio
of 60:40 between Below poverty line and Above Poverty line sections.
387.
When we compare the pattern of consumption expenditure of agricultural
labour house holds, we find that the bulk of
their expenditure is on food grains.
388.
In
India, majority of agricultural
holdings are marginal holdings.
389.
The
basic
characteristic that distinguishes agricultural labourers from industrial
workers is that the former
are not organised in trade unions.
390.
Bonded Labour System (Abolition) Act was passed in the year 1976.
391.
Jawahar Rozgar Yojana for Rural Employment was started in the year 1989.
392.
Cooperation
is of great significance particularly for economically backward countries like
India, Its importance is clear from the following factors
a)
By
pooling their resources, individuals with small means can undertake large scale
operations and realize its advantages.
b)
It
is helpful in curbing the evils of bureaucracy.
c)
Cooperative
institutions can function as instruments of prime significance in the promotion
of planned growth of the economy.
393.
In
India , the 2nd Green revolution took place in 1983-84.
394.
The
minimum
number of persons required to form a primary cooperative society is 10.
395.
In
the 3-tier
cooperative structure, as it obtains in India, the institution at the top is
known as State cooperative
Bank.
396.
The marketing and processing cooperative structure in India is topped by National
Cooperative Agricultural Marketing Federation.
397.
Service cooperatives are multi-purpose
societies.
398.
The
main
reason for failure of the cooperative movement in India has been
a)
Small
size of the societies.
b)
Single
purpose nature of operations of these societies.
c)
Too
much dependence on out side source of finance.
399.
The responsibility for policy formulation relating to the Community
Development Programme and the broad pattern of expenditure lies with
the Department of Community
Development in the Ministry of Agriculture.
400.
Employment Assurance Scheme (EAS) and Jawahar Gram Samriddhi Yojana
(JGSY) were merged into Sampoorna Grameen Rozgar
Yojana.
401.
The
committee
chaired by Ashok Mehta which recommended that the institution of Panchayathi
Raj be depoliticized, submitted its report in the year 1978.
402.
NABARD is the apex for rural credit.
403.
The NABARD was set up with an authorized share capital of Rs.100 crore.
404.
Disguised unemployment is a situation in which the number persons employed on a job as compared
to what is required is more.
405.
Disguised unemployment is the prominent feature of Primary
sector.
406.
Unemployment arising out of inadequacy of productive capacity to create
enough jobs for all those able and willing to work is called Structural unemployment.
407.
At the end of 2006, the number of industries in India which required
license was 6.
408.
The
organisation which collects information
about unemployment, etc in India is called National Sample Survey Organisation.
409.
The
government measures to provide employment following the
publication of Bhagwathi Committee Report in 1973 were
a)
Rural
Works Programme.
b)
Marginal
and Agricultural Labourers Scheme.
c)
Small
Farmers Development Agencies.
410.
The
presence of cyclical unemployment
exists in Capitalist economies.
411.
The main cause of unemployment in India
is
a)
Underdevelopment
of the economy.
b)
Defective
manpower planning.
c)
Rapid
population growth.
412.
The Integrated Rural Development Programme aims at uplifting its target
group of the poorest among
the poor.
413.
The
National
Adult Education Programme was launched on 2nd October, 1978.
414.
The
Adult
Education Programme provides
a)
20
to 30 adult education centers in each community development block.
b)
Each
centre to have an instructor and field level functionaries.
c)
Political
parties and cultural organisations will not get government grants for NAEP.
415.
The
working
population of a country comprises the age group 15-60 years.
416.
The
sharing
basis between the Central Government and State Government under the NREP
Project is 50:50.
417.
8th plan registered the highest growth rate.
418.
Financial dependency of the states on the centre indicates
the unitary aspect of the Indian constitution.
419.
As
regards
finance, the constitution has
made the distribution favourable to the States.
420.
The
salient function of the Finance
Commission is
a)
Deciding
the proportion of sharable taxes that should go to States.
b)
Deciding
grants-in-aid to States.
c)
Deciding
matter concerning Centre-State financial relations.
421.
Shri K.C.Pant headed the 10th Finance
Commission.
422.
The
States
have expressed dissatisfaction with the existing division of powers between the
Centre and the States and demanded
grater autonomy specially in the field of Finance.
423.
The
number
of members in a Finance Commission including
the Chairman is 5.
424.
The selective regional planning approach aims at equal development rates for all regions in selected sectors.
425.
India’s rank in production of Sugar and Sugarcane (2005-2006) was first.
426.
In India, the value of output originating from the agricultural sector is
measured with the help of
Output method.
427.
The year 2000-01 has been adopted as base year for
Wholesale Price Index (WPI) w.e.f April1,
2006.
428.
The
most
important source of revenue to the State Governments in India is SALES Tax.
429.
Estate duty was 1st introduced in 1953.
430.
Duties/taxes levied on commodities produced within the country are called Excise duties.
431.
A finance Bill is a bill ordinarily introduced each year to give effect
to the financial proposals of the Government of India for the following year.
432.
Location of Sugar industry in India is influenced by raw material.
433.
Coal and lignite industry needed compulsory licensing according to the Industrial Policy of July, 1991.
434.
The
examples
of monopoly trade practices are allocation
of market between producers.
435.
The
Monopolistic and Restrictive Trade
Practices Act was enacted in the year 1969.
436.
The
Monopoly Inquiry Commission
appointed in 1964 was chaired by K.C.Dasgupta.
437.
Rastogi Committee is related with Service tax.
438.
According to small & Medium Enterprise Development Act, 2006
investment limit for SSIs is Rs.5 crore.
439.
Sequential licensing is often treated
as a cause of industrial concentration. It implies issuing of license to industrial houses in ascending order
of their size.
440.
Large industrial house, as defined by the Industrial
Licensing Policy Inquiry Committee, is one with assets exceeding Rs.35 crore.
441.
The MRTP Act till its amendment in 1991 defined a large house as one with assets of not less than Rs.100 crore.
442.
In July 1991, India devalued the rupee by about 23%.
443.
The strategy of growth laid down in the Draft Plan 1978-83 emphasised the growth of Consumer goods.
444.
The
features
of the price policy of the public sector are
a)
Price
should be such as to enable an enterprise to operate at the lowest cost and
maximum efficiency.
b)
Price
Should be such as to enable consumer at all levels to buy and make use of the
goods and services produced by the public enterprise.
c)
Price
policy should calculate costs and benefits to various sections of the society.
445.
Some
distinctive
features of costing in public enterprises
are
a)
A
public enterprise can get easy capital and other inputs at relatively cheaper
prices which go to reduce its cost of production.
b)
Public
enterprises incur some social costs which private enterprises may not bear.
c)
Public
enterprises are subject to the investigations by Parliamentary committees. This
often leads to delay in taking crucial decisions resulting I higher costs.
446.
In
agricultural sector, Public
sector does not play any role in its organisation.
447.
The
arguments
to develop public sector in India are
a)
The
public sector is essential to realize the target of the high rate of
development deliberately set up by the Government.
b)
The
pattern of resource allocation adopted in our plans gave industries. This
pattern made it inevitable that the public sector should grow fast.
c)
Public
sector can be so located as to remove regional disparities in the economy.
448.
Major shortcomings of the public sector in India are as follows.
a)
Public
enterprises have incurred rather heavy social costs on construction, maintenance,
and administration of townships and other social overhead expenditure.
b)
In
most public enterprises manpower is in excess of actual requirements.
c)
The
pricing policies of the public sector undertakings are not guided solely by the
profit maximization principle, but are under the regulation and control of the
Government.
449.
The
1st
Iron & steel unit known as the Tata Iron & Steel Company was
established in 1907.
450.
The
steel
plant at Durgapur was set up with the assistance from UK.
451.
The
problems
faced by Iron & steel industry in India are
a)
Rise
in input cost.
b)
Technological
management.
c)
Inefficient
management.
d)
Piling
up of inventories.
452.
The
problems
faced by Sugar Industry in India are
a)
Diversion
of cane to Gur & Khandsari.
b)
Mounting
losses.
c)
Minimum
economic size.
d)
Inconsistent
policy.
453.
In the field of engineering goods India has to import certain vital goods.
454.
Jute industry in India is concentrated in West Bengal.
455.
The
most
important competitor of the Indian Jute industry is Bangladesh.
456.
The
need
to modernize the techniques of production is most imperative in the
a)
Cotton
textile industry.
b)
Jute
industry.
c)
Sugar
Industry.
457.
The
responsibility
for running and managing sick textile mills has been entrusted to the National Textile Corporation.
458.
Small –scale industries are immensely suited to India’s economic
environment
because these industries
a)
Lead
to decentralization of economic activities.
b)
Make
possible the use of latent resources.
c)
Are
import-light and skill-light.
459.
Most
of the problems of small industries
arise because of the smallness
of their size.
460.
The
village and small Industries (Karve)
committee reported in the year 1955.
461.
In
2006, the number of commodities reserved for exclusive production in the small
sector was 506.
462.
District Industries Centers have been charged with the responsibility
of provision of raw materials and arrangements for credit facilities.
463.
On the eve of planning, India’s industrial structure,
howsoever mearge in size, was heavily tilted towards the production of consumer goods.
464.
The
annual
growth rate of industrial production during the planning era has, generally,
been more than 5 percent.
465.
In
the pre-planning period, most of the industries that had
developed were agro-based.
466.
The
major
industries developed in the public sector are basic and capital industries.
467.
In
the Post
–Independence period, private
sector expanded quite fast probably because the private entrepreneurs were
faced with the prospects of high profitability on investments.
468.
There
are 6
areas in Bharat Nirman Yojana.
469.
The
predominant
type of organisation in Indian large industry is Joint-Stock company.
470.
In
terms
of value addition, the most industrially developed state of India is Maharashtra.
471.
In
terms
of value addition, the most industrially backward state of India is Punjab.
472.
By
industrial finance we mean organisation
of various types of finance needed by industries for their activities connected
with the production of goods and services.
473.
If an industry uses a credit for repair, replacement and maintenance of
machines, etc, it will be called medium term
finance.
474.
An example of a development bank in India is Karnataka State Finance Corporation.
475.
The Guarantee Scheme, which aims at extending financial help to small industries, was started in the
year 1960.
476.
The apex industrial finance institution of India is known as Industrial Development Bank of India.
477.
The Industrial Finance Corporation of
India was set up in
the year 1948.
478.
The
State Finance Corporations are prohibited
from extending loans to large industries.
479.
The
Unit
trust of India was started in the year 1964 with an initial
capital of Rs.5crores.
480.
The
Small
Industries Development Bank of India was set up in the year 1990.
481.
According to the original provisions of the Banking Regulations Act, 1949, every scheduled bank was required to maintain with the Reserve Bank
5% of its demand liabilities and 2% of its time liabilities.
482.
Non-monetary functions of the Reserve Bank of India include Supervision
and control over commercial banks.
483.
New Economic Policy deals with
a)
Privatisation.
b)
Liberalization.
c)
Globalisation.
484.
Under the Voluntary Disclosure of Income Scheme, the companies were required to pay tax at the rate of 35%.
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