Tag: subsidies, industrial policy and trade policy

Questions Related to subsidies, industrial policy and trade policy

The oldest large scale industry in India is _________.

organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

  1. cotton textiles

  2. iron and Steel

  3. jute

  4. paper

Show answer
Correct Option: A
Explanation:

The first cotton cloth mill in India was established in 1818 at Kolkata. And the 2nd mill established by KGN Saber in 1854 laid the base for the further development. It is since then India is involved into cotton and textile industry. Now this sector contributes 4% of the GDP, and our country is the second largest producer of fibre in the world. 

SIDCO is related to the development of ____________.

organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

  1. sugar industry

  2. steel industry

  3. small industry

  4. soap Industry

Show answer
Correct Option: C
Explanation:

Small Industries Development Corporation Limited (SIDCO) has been set up by the Govt. of Tamilnadu, with the specific objective of playing a catalytic role in the promotion and development of Small Scale Industries.

SIDO is related to the development of ___________.

organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

  1. Soap industry

  2. Steel industry

  3. Small industry

  4. Sugar industry

Show answer
Correct Option: C
Explanation:

Small Industries Development Organi-sation (SIDO) an apex body at Central level for formulating policy for the development of Small Scale Industries in the country, is playing a very constructive role for strengthening this vital sector which has been proved to be one of the pillars of the economy of the country.

The higher the prices of capital relative to the prices of labour, the more production techniques should be ____________.

organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

  1. labour intensive

  2. capital intensive

  3. fixed

  4. labour or capital intensive and we cannot say which without additional information.

Show answer
Correct Option: A
Explanation:

Beacause the prices of capital are higher than that of labour hence the technique of production used should be labour intensive. 

One major reason behind this would be the production costs would be lesser if such techniques are used.

Which of the following was the role of the state when developing India's industries?

organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

  1. Providing industrialists with support to build industries

  2. Large amount of capital investment and promotion by the state.

  3. Forcing industrialists to invest in India's industrial ventures.

  4. All of the above

Show answer
Correct Option: B

In which year the new Industrial Policy was announced? 

organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

  1. 1997

  2. 1951

  3. 1991

  4. 1998

Show answer
Correct Option: C
Explanation:

After independence, India adopted the mixed economy principle, but a high stress on the Public sector was given. The government could not manage the debt and inflation and hence we adopted the LPG i.e. Liberalization, Privatization, and Globalization under the new industrial policy in 1991. 

The industrial Policy Resolution was part of which 5 year plan? 

organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

  1. Second Five Year Plan

  2. Third Five Year Plan

  3. First Five Year Plan

  4. Fourth Five Year Plan

Show answer
Correct Option: A

Which of the following were a reason for the resistance of Indian Industrialist to invest in Industrial ventures? 

organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

  1. No government support

  2. No profitable ventures

  3. Lack of capital

  4. All of the above

Show answer
Correct Option: B,C

When was the industrial policy resolution launched in India?

organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

  1. 1960

  2. 1955

  3. 1965

  4. 1956

Show answer
Correct Option: D

Which of the following is a reason for small scale industries is more labor intensive? 

organisation of commerce and management the nature of the indian economy part 2 industrial revolution in india subsidies, industrial policy and trade policy cottage and small scale industries

  1. Small industries cant afford high amounts of capital

  2. Small industries can afford high amounts of capital

  3. Labor is very expensive

  4. All of the above

Show answer
Correct Option: A