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Ramesh Singh Test : Services Sector


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10 Questions MCQ Test Indian Economy for UPSC CSE | Ramesh Singh Test : Services Sector

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Ramesh Singh Test : Services Sector - Question 1

The report 'Global employment and social Outlook' is released by

Detailed Solution for Ramesh Singh Test : Services Sector - Question 1 Global employment and social outlook is released by the International Labour Organisation.

Ramesh Singh Test : Services Sector - Question 2

Consider the following statements about Internal Trade

1. It refers to the movement of goods and services across different geographical regions in the country.

2 It includes self-employed and persons engaged in both wholesale and retail trade.

Which of these statements is/are correct?

Detailed Solution for Ramesh Singh Test : Services Sector - Question 2
  • It refers to the movement of goods and services across different geographical regions in the country.

  • It includes self-employed and persons engaged in both wholesale and retail trade. Presently internal trade is governed by a diversity of controls, multiple organizations and a plethora of orders.

Ramesh Singh Test : Services Sector - Question 3

Which of the following are correctly matched?

1. SETU (Self Employment and Talent Utilization) programme - aimed at setting up world-class technology business incubators to promote start-up business in India coupled with Start-up-India, Make in India

2. IMPRINT (Impacting Research Innovation and Technology) - Initiative by CSIR to develop a roadmap for research to solve major engineering and technology challenges in ten technology domains relevant to India

Choose from the following options.

Detailed Solution for Ramesh Singh Test : Services Sector - Question 3
  • SETU (Self Employment and Talent Utilization) programme, aimed at setting up world-class technology business incubators to promote start-up business in India coupled with Start-up-India, Make in India.

  • IMPRINT (Impacting Research Innovation and Technology), a Pan- IIT and IISc joint initiative to develop a roadmap for research to solve major engineering and technology challenges in ten technology domains relevant to India.

Ramesh Singh Test : Services Sector - Question 4

Which of the following are correct about Atal innovation mission?

1. This will be an innovation promotion platform involving academics, entrepreneurs, Band researchers and draw upon national and international experiences to foster a culture of innovation, R&D and scientific research in India.

2. The World Bank and UNDP are collaborating with the Government of India to implement this initiative.

Choose from the following options.

Detailed Solution for Ramesh Singh Test : Services Sector - Question 4 2nd Statement is Incorrect

Ramesh Singh Test : Services Sector - Question 5

Which of the following statements are correct regarding the legal services sector in India?

1. FDI is not permitted in this sector.

2. Foreign service providers can be appointed as partners.

3. Indian advocates are not permitted to enter into profit-sharing arrangements with persons other than Indian advocates.

Choose from the following options.

Detailed Solution for Ramesh Singh Test : Services Sector - Question 5
  • In this sector, FDI is not permitted and international law firms are not authorised to advertise and open offices in India.

  • Foreign service providers can neither be appointed as partners nor sign legal documents and represent clients.

  • The Bar Council is opposed to the entry of foreign lawyers/law firms in any manner.

  • Indian advocates are not permitted to enter into profit-sharing arrangements with persons other than Indian advocates.

Ramesh Singh Test : Services Sector - Question 6

Education services comes under:

Detailed Solution for Ramesh Singh Test : Services Sector - Question 6 Education Services: These come under the Concurrent List with multiple controls and regulations by central and state governments and statutory bodies.

Ramesh Singh Test : Services Sector - Question 7

Consider the following statements regarding the accountancy services sector.

1. Accountancy professionals are allowed to operate either as a partnership firm or as a sole proprietorship firm.

2. FDI is not allowed in this sector but foreign service providers are allowed to undertake a statutory audit of Companies.

Which of these statements is/are correct?

Detailed Solution for Ramesh Singh Test : Services Sector - Question 7
  • Foreign service providers are not allowed to undertake a statutory audit of companies as per the provisions of the laws in India.

  • There are also domestic regulations like the prohibition on the use of individual logos for partnership and single proprietorship accounting firms.

  • These regulations need to be relaxed and streamlined to facilitate tie-ups and penetrate foreign markets given the potential for exporting these services by the outsourcing model.

Ramesh Singh Test : Services Sector - Question 8

Consider the following statements regarding Port services in India.

1. Indian ports are not world-class ports and lack the necessary draft

2. As a result, third-generation ships' are not able to enter the harbour and goods have to be offloaded outside in smaller ships, adding to costs

Which of these statements is/are correct?

Detailed Solution for Ramesh Singh Test : Services Sector - Question 8
  • Indian ports are not world-class ports and lack the necessary draft. As a result, third generation ships' are not able to enter the harbour and goods have to be offloaded outside in smaller ships, adding to costs.

  • If India can develop world-class airport infrastructure and metros, there is every reason to attend the concerns of the port services.

Ramesh Singh Test : Services Sector - Question 9

India is making bilateral negotiations with various countries. Which of the following are correctly matched regarding this?

1. Dialogue is underway with the US as India US joint ministerial Commission.

2. Dialogue is underway with Australia as India Australia trade policy forum.

Choose from the following options.

Detailed Solution for Ramesh Singh Test : Services Sector - Question 9
  • India is also engaged in bilateral FTA negotiations including trade in services with Canada, Israel, Thailand, the EU, the EFTA (European Free Trade Association), Australia and New Zealand.

  • Dialogue is underway with the US under the India-US Trade Policy Forum (TPF), with Australia under the India Australia JMC (Joint Ministerial Commission), with China under India China working group on services and Brazil under the India Brazil trade monitoring mechanism.

Ramesh Singh Test : Services Sector - Question 10

Consider the following statements regarding the construction development sector.

1. Due to the land acquisition policy, the number of court litigations are increasing.

2. There are also restrictions on floor area ratio in many states.

Which of these statements is/are incorrect?

Detailed Solution for Ramesh Singh Test : Services Sector - Question 10
  • In this sector, bottlenecks result from the continuation of restrictions under the Urban Land Ceiling and Regulation Act (ULCRA) in some states namely Andhra Pradesh, Assam, Bihar, and West Bengal, which have not yet repealed it and the confusion in the process required for clearance of buildings even after the repeal of ULCRA bypassing of the Urban Land(Ceiling and Regulations) Repeal Act 1999 by the other states.

  • There is also lack of clarity on the role of states as facilitators in the land acquisition policy resulting in increasing number of court litigations adding to the risk profile of builders/projects thereby restricting lenders from extending finance to such builders/ projects.

There are also restrictions on floor area ratio (FAR) in many states; and other restrictions like the application of bye third-generation and its exemptions, e.g., increase in FAR which varies from project to project and is sometimes discriminatory. Obtaining environment clearance is another major hindrance.

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