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TISSNET > Indian Economy 3 > Flashcards

Indian Economy 3 Flashcards

1
Q

What is the share of manufacturing industry in GDP of India?

A

17.4% in fiscal year 2020

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2
Q

Which sector contributes most to the GDP of India?

A

Service sector

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3
Q

What is India’s share in world GDP?

A

7.09%

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4
Q

What is the economic constitution of India?

A

Industrial Policy Resolution [1948]

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5
Q

What was the aim of the IPR?

A

Establishment of socialist pattern in society

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6
Q

Which industries require compulsory lincensing?

A
  • Brewing alcohol
  • Cigars, cigarettes and tobacco substitutes
  • Electronic, aerospace and defense machinery
  • Hazardous chemicals
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7
Q

How many Public Sector Enterprises in India?

A

348 CPSEs

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8
Q

What are Memorandums of Understanding?

A
  • Contract between the Government and the Management of the CPSE
  • To evaluate the performance of the CPSE at the end of the year compared to targets fixed in the beginning
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9
Q

What does the New Company Bill 2013 state?

A

For companies having an annual turnover of more than 10 lakhs, it is mandatory for them to appoint 1/3 independent directors and at least 1 female director

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10
Q

What is the Maharatna Status?

A
  • Raised the PSE investment ceiling from 1000 crore to 5000 crore (INR)
  • Industries can decided investments upto 15% of their net worth
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11
Q

Which industries have the Maharatna status?

A

ONGC, BHEL, SAIL, IOC, GAIL, BPCL, CIL, NTPC, Hindustan Petroleum

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12
Q

Which act was enforced in 2006 in favour of small scale industries?

A

Micro, Small and Medium Enterprises Developmental Act (MSMED Act)

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13
Q

Which independent financial institution finances the growth of MSME’s?

A

SIDBI

  • Small Industries Developmental Bank of India
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14
Q

Which committee was set up to look into the problems of small-scale industries?

A

Abid Hussain Committee

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15
Q

Which was the first steel industry? When and where was it established?

A
  • Iron Works Company
  • Kulti, West Bengal
  • 1870
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16
Q

Which was the first large scale steel plant?

A

TISCO [1907] in Jamshedpur

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17
Q

Which is the largest sponge iron producer in the world?

A

India

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18
Q

When was SAIL established?

A

1974

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19
Q

Which is the biggest industry in India?

A

Cotton and Synthetic Textile Industry

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20
Q

What percent of GDP is contributed by textile industry in our country?

A

2%

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21
Q

The textile industry accounts for how much of the total employment generated in the economy?

A

21%

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22
Q

India is the largest producer of which fibre in the world?

A

Jute

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23
Q

Which Act was enforced by the government to broaden the usage of jute?

A

Jute Packaging Materials Act [1997]

  • compulsory use in packaging commodities
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24
Q

India is the largest consumer of which precious metal?

A

Gold

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25
Q

Which are the ‘big four’ diamond cutting centres of the world?

A
  • USA
  • India
  • Belgium
  • Israel
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26
Q

Which place is known as the silk city in India?

A

Bhoodan Pochampally, Telangana

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27
Q

Who is largest producer of silk in the world?

A

China

  • India is second
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28
Q

Which is the second largest agro-based industry in India?

A

Sugar

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29
Q

Which committee was set up to study the sugar industry in India?

A

BB Mahajan Committee

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30
Q

Who is the largest producer of cement in the world?

A

China

  • India is second
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31
Q

Where does India rank in manufacturing cars in the world?

A

9th largest

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32
Q

India is the highest producer of which automotive vehicle in the world?

A

Tractor

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33
Q

What is India’s current world ranking for passenger car sales?

A

4th

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34
Q

According to the Economic Survey (2018-19), how much of the total workforce in India is from the unorganised sector?

A

93% 😱

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35
Q

Who is the Chairman of National Commission for Enterprises in Unorganised Sector?

A

Dr. Arjun Sengupta

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36
Q

Which act replaced the earlier one in 2020 that provides for the social security and welfare of the unorganised workers?

A

Code On Social Security [2020]

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37
Q

What are the aims of the Make In India campaign?

A
  • Take the manufacturing sector on a sustainable high path

- Growth to 10%

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38
Q

What is the flagship programme that aimed at transforming India into a digitally empowered social economy? When was it launched?

A

Digital India, 2014

39
Q

What is the name of the scheme launched by the Karnataka govt. to ensure home delivery of the government services?

A

Janasevaka

40
Q

Which state government entered into an agreement with the Survey of India, to employ drones for mapping of villages

A

Madhya Pradesh

41
Q

In which state did the Ministry of Civil Aviation operationalise the first ever helicopter services?

A

Uttarakhand

42
Q

Which state govt has approved of the first ever glass floor suspension bridge?

A

Uttarakhand

- across Ganga in Rishikesh

43
Q

Which govt started a mobile app for people to report drug abuse to the police?

A

Kerala

- Yodhav app

44
Q

Which is the first state to introduce the unified registration card?

A

Madhya Pradesh

45
Q

Who was elected as president of Paralympic Committee of India?

A

Deepa Malik

46
Q

What is the rank of India in export in 2019?

A

16th

47
Q

What were India’s top 5 exports in 2019?

A
  • Mineral fuels including oil
  • Gems, precious metals
  • Machinery including computers
  • Organic chemicals
  • Vehicles
48
Q

What is the rank of India in import in 2019?

A

9th

49
Q

What were India’s top imports in 2019?

A
  • Crude oil
  • Gold
  • Coal
  • Diamonds
50
Q

Which are the main foreign exchange reserves in India?

A
  • Foreign Currency Assets
  • Gold Stock of RBI
  • Special Drawing Rights
  • Reserve Tranche Position in the IMF
51
Q

Which act imposed strict regulations on certain kinds of payments, the dealings in foreign exchange (forex) and securities and the transactions which had an indirect impact on the foreign exchange and the import and export of currency?

A

Foreign Exchange Regulation Act (FERA) [1973]

52
Q

Which Act replaced FERA and when?

A

Foreign Exchange Management Act (FEMA) [1999]

53
Q

Where was Asia’s first Export Processing Zone set up?

A

Kandla, India [1965]

54
Q

Which 3 institutions handle FDI in India?

A

Foreign Investment Promotion Board
Foreign Investment Implementation Authority
Secretariat for Industrial Assistance

55
Q

In which sector is FDI prohibited in India?

A

Gambling & betting, lottery, sectors not open to private sector investment

56
Q

FDI was allowed in ____ in May 2011.

A

Limited Liability Partnership

57
Q

Who designed the new symbol for the rupee?

A

Udaya Kumar

58
Q

Who manages the present monetary system of India?

A

RBI

59
Q

Who is the head of the RBI Working Group on Money Supply?

A

Y.V. Reddy

60
Q

Who is the current head of RBI?

A

Shaktikanta Das

61
Q

What does devaluation of currency mean?

A
  • Reducing the value of currency by fiscal authorities, to make exports cheaper and imports costlier
  • Balances payment deficit
62
Q

How many times has India devalued its currency?

A

4 times

  • 1949 [30.5% by John Mathai]
  • 1966 [57% by Sachindra Chaudhry]
  • 1991 [9% by Manmohan Singh]
  • 1991 [11% by Manmohan Singh]
63
Q

Where is India’s Security Press located?

A

Nashik

64
Q

Where is the Banks Notes Press located?

A

Dewas

65
Q

When did India’s demonetisation happen?

A

9 Dec, 2016

66
Q

What did the RBI do in the demonetisation?

A
  • Withdrew old 500 and 1000 rupee notes as invalid modes of payment
  • To tackle black money & eliminate fake currency
67
Q

What are the causes of inflation?

A
  • Printing too much money
  • Increase in production cost
  • Tax rise
  • Wars or other instabilities
68
Q

Persistent high level of inflation leads to ____.

A

Economic stagnation

69
Q

What are some measures to control inflation?

A
  • Increase bank interest
  • Control prices and wages
  • Provide CoL allowance to citizens
70
Q

What is the base year of WPI of India?

A

2011-12

71
Q

From which year was India’s WPI shifted and when?

A

From 2004-05 in May 2017

72
Q

What does WPI measure?

A

Change in wholesale prices on a weekly basis

73
Q

What does CPI measure?

A

Change in retail prices on a monthly basis

74
Q

When was SBI nationalised and what was its name before that?

A

1955

Imperial bank of India

75
Q

Which was the first bank of limited liability managed by an Indian?

A

Oudh Commercial Bank [1881]

76
Q

When was Punjab National Bank established?

A

1894

77
Q

Who was the first governor of the RBI?

A

Sir Osborne Smith

78
Q

Who was RBI’s first Indian governor?

A

CD Deshmukh

79
Q

Imperial Bank of India was created by the amalgamation of which 3 presidency banks?

A

Bank of Bengal, Bombay and Madras

80
Q

Which are the top 5 private sector banks

A
  • ICICI
  • HDFC
  • Axis
  • Kotak
  • Yes Bank
81
Q

Which scheme was created in 2015 for banking reforms in India?

A

Indradhanush Scheme

82
Q

Which was India’s first all woman bank?

A

Bharatiya Mahila Bank (BMB) [Nov, 2013]

83
Q

Which bank did BMB merge with and when?

A

SBI, 2017

84
Q

Who was the first chairperson of Bharatiya Mahila Bank?

A

Usha Anantha Subramanian

85
Q

Which public sector financial institution was started in 2015 to provide loans at low interests to small entrepreneurs?

A

MUDRA Bank

  • Micro Units Developmental and Refinance Agency Bank
86
Q

What is the name of India’s largest micro lender?

A

Bandhan

- based in Kolkata

87
Q

Head of Bandhan Finance

A

Chandra Shekhar Ghosh

88
Q

Who introduced life insurance to India?

A

British

89
Q

A British firm established _____ Insurance Company in 1818.

A

Oriental Life Insurance Company

90
Q

When was LIC established?

A

1956

91
Q

Where was the most recent zonal office of LIC set up?

A

Patna

92
Q

When was General Insurance Corporation of India established?

A

1973

93
Q

According to the policy, at what level is the FDI for insurance company still capped at?

A

49%

94
Q

When was the National Pension System opened to all citizens?

A

2009

TISSNET (47 decks)

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