Tag: the government and economic development

Questions Related to the government and economic development

For reform of direct and indirect tax laws Government of India constituted __________.

civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. Central Board of Direct Tax (CBDT)

  2. Tax Planning Commission

  3. Tax Reform Committee (TRC)

  4. Direct and Indirect Tax Board

Show answer
Correct Option: C
Explanation:

For reform of direct and indirect tax laws Government of India constituted Tax Reform Committee. This Tax reform committee is also known as Raj Chelliah Committee. This committee helped to lay out agendas concerning India's direct and indirect tax.

Disinvestment was done in _______________.

civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. public sector

  2. co-operative sector

  3. private sector

  4. joint sector

Show answer
Correct Option: A
Explanation:

Disinvestment was done in public sector. Disinvestment is included in the process of privatization. It means transfer of ownership of public sector to private sector.

New economic reforms in India were introduced in ________.

civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. 1990

  2. 1991

  3. 2000

  4. 2001

Show answer
Correct Option: B
Explanation:

New economic reforms in India were introduced in 1991. This new economic reform is based on LPG theme. LPG stands for Liberalization, Privatization and Globalization. This economic reform helps to create a more free economy.

Reservation for public sector has been reduced to only _________ industry groups.

civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. two

  2. four

  3. three

  4. five

Show answer
Correct Option: C
Explanation:

Reservation for public sector has been reduced to only three industry groups. It is reduced in order to promote free and fair trade and uphold the process of liberalization.

Which of the following is not the main feature of economic reforms?

civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. Liberalization

  2. Privatization

  3. Planned economy

  4. Globalization

Show answer
Correct Option: C
Explanation:

Panned economy is not the main feature of economic reforms. New economic policy was adopted by the Government of India in the year of 1991. It was based on liberalization, privatization and globalization. It helped to create a more free economy.

In order to generate adequate resources for public sector enterprises to sustain their growth, there had been an increasing demand for their ________.
(i) Liberalization
(ii) Privatization
(iii) Disinvestments
(iv) Globalization

civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. (i) Only

  2. (ii) Only

  3. (i) (ii) and (iii) only

  4. (i) ,(ii), (iii) and (iv)

Show answer
Correct Option: B
Explanation:

In order to generate adequate resources for public sector enterprises to sustain their growth, there had been an increasing demand for their privatization. Privatization can be defined as a process which includes transfer of ownership and management of the public enterprise to the private enterprises.

Navratnas does not include __________.

civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. BEL

  2. BPCL

  3. MTNL

  4. OIL

Show answer
Correct Option: B
Explanation:

Navaratnas does not include BPCL( Bharat Petroleum Corporation Limited). BPCL is included in Maharatnas.
Navaratnas are:

1. Bharat Electronics Limited (BEL)

2. Container Corporation of India Limited

3. Engineers India Limited

4. Hindustan Aeronautics Limited

5. Hindustan Petroleum Corporation Limited

6. Mahanagar Telephone Nigam Limited

7. National Aluminium Company Limited

8. National Buildings Construction Corporation Limited

9. NMDC Limited

10. Neyveli Lignite Corporation Limited

11. Oil India Limited

12. Power Finance Corporation Limited

13. Power Grid Corporation of India Limited

14. Rashtriya Ispat Nigam Limited

15. Rural Electrification Corporation Limited

16. Shipping Corporation of India Limited

Import of oil and lubricants constitute nearly ________ of India's total import bill as per 2013-14 data.

economics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. 20%

  2. 24%

  3. 35%

  4. 40%

Show answer
Correct Option: C

'Public Sector' means ___________.

civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. government ownership on commerce and trade

  2. capitalist ownership on commerce and trade

  3. private ownership on trade

  4. none of the above

Show answer
Correct Option: A
Explanation:

Public sector refers to all the companies, bank, commerce and trade which has 51% or more of government shares as it equity. Therefore, it refers to the government ownership on commerce and trade.

The first atomic power station in Trombay was started in the year _____.

civics foreign trade in india the government and economic development indian economy on the eve of independence impact of technology on livelihoods

  1. 1950

  2. 1952

  3. 1956

  4. 1960

Show answer
Correct Option: C
Explanation:

The Bhabha Atomic Research Centre (BARC) is India’s premier nuclear research facility based in Trombay, Mumbai, Maharashtra. BARC is a multi-disciplinary research centre with extensive infrastructure for advanced research and development covering the entire spectrum of nuclear science, engineering and related areas.