Test: India Year Book - 2


25 Questions MCQ Test Economy and Indian Economy (Prelims) by Shahid Ali | Test: India Year Book - 2


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QUESTION: 1

Consider the following statements about Hindustan Aeronautics Limited (HAL):

  1. HAL is a Maharatna Company.
  2. Its expertise includes design, production, repair, overhaul and upgrade of aircraft, helicopters, aero-engines, accessories, avionics and systems.

Which of the above statements is/are correct?

Solution:

Ans: b

Explanation: Hindustan Aeronautics Limited (HAL) is a Navratna Company and a premier aeronautical complex of South Asia. HAL’s expertise encompasses design, production, repair, overhaul and upgrade of aircraft, helicopters, aero-engines, accessories, avionics and systems.

QUESTION: 2

 Which of the following is a Mini-Ratna company?

Solution:
QUESTION: 3

 Which of the following statements is NOT correct about Nirbhay?

Solution:

Ans: b

Explanation: Nirbhay is India’s first indigenously designed and developed long range subsonic cruise missile having 1,000 km range and capable of carrying up to 300 kg warheads. It incorporates state-of-the-art inertial navigation system. Nirbhay was successfully flight tested on October 17, 2014.

QUESTION: 4

Consider the following statements about ‘Padhe Bharat Badhe Bharat’:

  1. It is a nationwide sub-programme under the SSA.
  2. It was launched to create a natural and positive interest in mathematics related to their physical and social world.

Which of the above statements is/are correct?

Solution:

Ans: c

Explanation: Another major initiative of the Government of India is a nationwide sub-programme under the SSA called ‘Padhe Bharat Badhe Bharat’. Launched in 2014, this programme has been planned in a twin track approach: (i) to improve language development by creating an enduring interest in reading and writing with comprehension; and (ii) to create a natural and positive interest in mathematics related to their physical and social world.

QUESTION: 5

 Which of the following about ‘Saransh’ is correct?

Solution:

Ans: c

Explanation: Saransh is a web portal launched by Central Board of Secondary Education of India, with the primary aim of promoting information and communication technologies in schools. The Human Resource Development Minister Smriti Irani launched the portal on 07th November, 2015. Saransh is a self-review tool for all CBSE affiliated schools and parents. This tool aims at bringing transparency to the educational system in India.

QUESTION: 6

Electricity supply commenced in India, for the first time, in ______________ during 1897.

Solution:

Ans: d

Explanation: Power development in India commenced at the end of the nineteenth century with the commissioning of electricity supply in Darjeeling during 1897, followed by the commissioning of a hydropower station at Sivasamudram in Karnataka during 1902.

QUESTION: 7

When Rajiv Gandhi Grameen Vidyutikaran Yojana was launched?

Solution:

Ans: c

Explanation: Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY): This scheme of Rural Electricity Infrastructure and Household Electrification was introduced in April, 2005 for providing access to electricity to all rural households over a period of four years.

QUESTION: 8

Satluj Jal Vidyut Nigam Ltd. Is a joint venture between Government of India (GoI) and

Solution:

Ans: b

Explanation: Satluj Jal Vidyut Nigam Ltd. (SJVN) was incorporated on May 24, 1988 as a joint venture of the Government of India (GoI) and the Government of Himachal Pradesh (GoHP) to plan, investigate, organize, execute, operate and maintain Hydro Electric Power Projects in Satluj basin in Himachal Pradesh and at any other place with equity contribution of GoI and GoHP as 75:25, respectively.

QUESTION: 9

Ethanol Blended Petrol (EBP) Programme was extended to entire India except

Solution:

Ans: d

Explanation: The Government had started the Ethanol Blended Petrol (EBP) Programme in 2003. In 2006, the same was extended to the entire country, except the north-eastern states, Jammu and Kashmir, Andaman and Nicobar Islands and Lakshadweep.

QUESTION: 10

Coal India Limited (CIL) is a ‘Maha Ratna’ company under the Ministry of Coal with headquarters at _________

Solution:

Ans: d

Explanation: Coal India Limited (CIL) is a ‘Maha Ratna’ company under the Ministry of Coal, Government of India with headquarters at Kolkata, West Bengal.

QUESTION: 11

Which of the following s NOT correct about The Biological Diversity Act?

Solution:

Ans: b

Explanation: The Biological Diversity Act, 2002 came into force in 2003. The Act extends to the whole of India. The objectives of the Act are conservation, sustainable utilization and fair and equitable sharing of benefits arising out of the use of biological resources and associated knowledge. The Act is being implemented in three-tiered institutional structures. The NBA is a body corporate established in accordance with the provisions of Section 8 of the Biological Diversity Act, 2002, at Chennai in 2003. It is an autonomous, statutory and regulatory organization which is intended to implement the provisions of Biological Diversity Act, 2002.

QUESTION: 12

Which of the following coral reefs areas is NOT identified for intensive conservation and management in India?

Solution:

Ans: c

Explanation: The four major coral reefs areas identified for intensive conservation and management in India are: i) Gulf of Mannar; ii) Gulf of Kutch; iii) Lakshadweep; and iv) Andaman and Nicobar Islands.

QUESTION: 13

Which of the following states is NOT covered under project Elephant?

Solution:

Ans: a

Explanation: The project Elephant is being mainly implemented in 16 states/union territories, viz. Andhra Pradesh, Arunachal Pradesh, Assam, Chhattisgarh, Jharkhand, Karnataka, Kerala, Maharashtra, Meghalaya, Nagaland, Odhisa, Tamil Nadu, Tripura, Uttarakhand, Uttar Pradesh and West Bengal.

QUESTION: 14

In which state Mansar- Surinsar wetland is situated which has been included in Prime Minister’s Reconstruction Plan?

Solution:

Ans: a

Explanation: Under the Prime Minister ’s Reconstruction Plan, three wetlands namely Tso Morari in Laddakh, Mansar- Surinsar in Jammu and Wullar in Srinagar were identified from Jammu and Kashmir

QUESTION: 15

Consider the following statements about Pradhan Mantri Jeevan Jyoti BimaYojana:

  1. It covers both natural and accidental death risk.
  2. The sum assured is Rs. 1 lakh.

Which of the above statements is/are correct?

Solution:

Ans: a

Explanation: Pradhan Mantri Jeevan Jyoti BimaYojana to cover both natural and accidental death risk of Rs. 2 lakh at premium of Rs. 330 per year for the age group of 18-50.

QUESTION: 16

 India’s foreign exchange reserves comprise foreign currency assets (FCAs), gold, SDRs and Reserve Tranche Position with ________

Solution:

Ans: c

Explanation: India’s, foreign exchange reserves comprise foreign currency assets (FCAs), gold, SDRs and Reserve Tranche Position (RTP) in the IMF.

QUESTION: 17

Which of the following about Forward Markets Commission is NOT correct?

Solution:

Ans: b

Explanation: Forward Markets Commission (FMC) headquartered at Mumbai, is a regulatory authority for commodity futures market in India. It is a statutory body set-up under Forward Contracts (Regulation) Act, 1952. The commission functions under the administrative control of the Ministry of Finance, Government of India.

QUESTION: 18

In which of the following sector 100% FDI is not allowed?

Solution:

Ans: c

Explanation: In power exchanged 49% FDI is allowed.

QUESTION: 19

Which of the following was chairman of the seventh pay commission?

Solution:

Ans: d

Explanation: The Seventh Central Pay Commission comprises the following: Chairman – Justice Shri Ashok Kumar Mathur; Member – Shri Vivek Rae; Member-Dr. Rathin Roy; Secretary-Smt. Meena Agarwal.

QUESTION: 20

The Central Pension Accounting Office is an attached office under 

Solution:

Ans: a

Explanation: The Central Pension Accounting Office (CPAO) was established from 1990 for payment and accounting of Central (Civil) pensioners and pension to Freedom Fighters, etc. CPAO is an attached office under the Controller General of Accounts.

QUESTION: 21

 When the proposal to introduce a national level Goods and Services Tax (GST) was first mooted by the Finance Minister in the Budget Speech

Solution:

Ans: a

Explanation: The proposal to introduce a national level Goods and Services Tax (GST) by April 1, 2010 was first mooted by the Finance Minister in the Budget Speech for the Financial Year 2006-07.

QUESTION: 22

Which of the following statements is NOT correct about Swavalamban Scheme?

Solution:

Ans: c

Explanation: To encourage the workers in the unorganized sector to save voluntarily for their old age, an initiative called Swavalamban Scheme was launched in 2010. It is a co-contributory pension scheme whereby the Central Government would contribute a sum of Rs. 1,000 per annum in each NPS account opened having a saving of Rs. 1,000 to Rs. 12,000 per annum. Government will provide contribution for five years to the beneficiaries who register in the year 2010-11, 2011-12 and 2012- 13.

QUESTION: 23

In which of the following country LIC has no branch office?

Solution:

Ans: d

Explanation: The LIC has branch Offices in Fiji, Mauritus and United Kingdom.

QUESTION: 24

 Micro Units Development and Refinance Agency Bank has been set-up  

Solution:

Ans: d

Explanation: Micro Units Development and Refinance Agency Bank (MUDRA Bank), is a new institution set-up by the Government of India for development of micro units and refinance of MFIs to encourage entrepreneurship in India and provide the funding to the non corporate small business sector.

QUESTION: 25

Consider the following statements:

  1. The Ministry of corporate affairs has a three tier organizational structure.
  2. Registrars of Companies (RoCs) are vested with the primary duty of registering companies in states only.

Which of the above statements is/are correct?

Solution:

Ans: a

Explanation: The Ministry of corporate affairs has a three tier organizational structure with the headquarters at New Delhi, seven offices of Regional Directors at Ahmedabad, Chennai, Guwahati (presently functioning at Shillong), Hyderabad, Kolkata, Mumbai, and NOIDA. Registrars of Companies (RoCs) are vested with the primary duty of registering companies in states and union territories and ensuring that such companies comply with statutory requirements under the Companies Act. These offices function as a registry of records, relating to the companies registered with them, these records are available for inspection by the public on payment of prescribed fees.

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