Tag: subsidies, industrial policy and trade policy

Questions Related to subsidies, industrial policy and trade policy

Some of the characteristic feature involved with Industrial Policy development $1948-88$ were ___________.

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. relaxation in MRTP Provision

  2. eelaxation in FERA Provision

  3. both a & b

  4. development of ago bored industries

Show answer
Correct Option: C

The Atomic Energy Commission was formed in ______.

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. 1948

  2. 1953

  3. 1962

  4. 1975

Show answer
Correct Option: A
Explanation:
The Atomic Energy Commission was formed in  1948.The Atomic Energy Commission is the governing body of the department of Atomic Energy. The first chairman was Homi J. Bhabha. Its main objectives are as follows:
a) to organize research in atomic science in the country,
b) to train, atomic scientists in the country.
c) to promote nuclear research in commission's own laboratories in India. 

In ____ , a talent search and scholarship program was begun to find talented young students to train for work in nuclear power.

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. 1955

  2. 1956

  3. 1957

  4. 1958

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Correct Option: C

Industrialization involves  ___________.

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. adoption of technologically superior techniques of production

  2. application of modern techniques of management and organization

  3. both (A) and (B)

  4. none of the above

Show answer
Correct Option: C
Explanation:

Industrialization refers to a period where high growth rate in the economy can be achieved by industrial application which involves adoption of technology that supports superior techniques of production as well as use of modern techniques of management and organisation.

India also performed the "Smiling Buddha" underground nuclear test in _______.

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. 1975

  2. 1974

  3. 1973

  4. 1972

Show answer
Correct Option: B
Explanation:

On 18 May 1974, India performed its first successful nuclear bomb test "Smiling Buddha” . 

The bomb was detonated on the army base, Pokhran Test Range, situated in Rajasthan which was regulated by the Indian Army under the supervision of several key Indian generals.

Main objective(s) of industrial policy of Government is/are _________.

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. to maintain a sustained growth in productivity

  2. to enhance gainful employment

  3. to achieve optimal utilization of resources

  4. all of above

Show answer
Correct Option: D
Explanation:

The new industrial policy was introduced in 1991 which includes the latest industrial reforms where many requirements of industrial licensing were abolished, restrictions on investment and expansion were removed, and easy access to foreign technology and foreign direct investment was facilitated so that Sustainable growth in productivity could be maintained with greater employment and optimum utilization of resources.

Mahalanobis model, an economic development model developed by the Indian Statistician Prasanta Chandra Mahalanob is in ______.

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. 1948

  2. 1953

  3. 1962

  4. 1975

Show answer
Correct Option: B
Explanation:

Mahalanobis model, an economic development model developed by the Indian Statistician Prasanta Chandra Mahalanob is in  1953.Second five year plan was based on the Mahalanobis model. It was made for the duration of 1956 to 1961. Main objective of the second five year plan was the industrial development of the country.  The plan was successful and achieved growth ratee of about 4.1%.

At the end of the plan period in ____ , five Indian Institutes of Technology (IITs) were established as major technical institutions.

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. 1953

  2. 1954

  3. 1955

  4. 1956

Show answer
Correct Option: D
Explanation:

At the end of the plan period in 1956, five Indian Institutes of Technology (IITs) were established as major technical institutions. IIT(s) are autonomous public institutions established by the Government of India.
Main objective was to motivate technological up-gradation in the economy. 

The Atomic Energy Commission was formed in 1948 with ____ as the first Chairman.

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. Jawaharlal Nehru

  2. Homi J. Bhabha

  3. Atal Bihari Vajpayee

  4. J. J. Irani

Show answer
Correct Option: B
Explanation:

The Atomic Energy Commission was formed in  1948.The Atomic Energy Commission is the governing body of the department of Atomic Energy. The first chairman was Homi J. Bhabha. Its main objectives are as follows:
a) to organize research in atomic science in the country,
b) to train, atomic scientists in the country
c) to promote nuclear research in commission's own laboratories in India.

The latest industrial policy reforms have reduced the industrial licensing requirements, removed restrictions on investment and expansion, and facilitated easy access to foreign technology and foreign direct investment.

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. True

  2. False

  3. Partly true

  4. None of above

Show answer
Correct Option: A
Explanation:

True. 

The new industrial policy was introduced in 1991 which includes the latest industrial reforms were many requirements of industrial licensing abolished, restrictions on investment and expansion were removed, and easy access to foreign technology and foreign direct investment was facilitated.