Challenge Prelims V1.0 – Day 59 – GS Paper (Indian Economy)

1. Consider the following statements about the National Investment & Manufacturing Zones (NIMZs):

1. It is one of the important instruments of National Manufacturing Policy, 2011.
2. All buildings in the NIMZs will be green buildings.
3. Environmental audit is not mandatory for industrial and institutional units in NIMZs.

How many of the statements given above is/are correct?

2. Consider the following statements with reference to the new criteria for the classification of Micro Small and Medium Enterprises (MSMEs):

1. The basis of classifying MSMEs changed from ‘investment in plant and machinery’ to ‘annual turnover’.
2. A micro enterprise is defined as a unit where the annual turnover is more than 10 crore rupees.

Which of the statements given above is/are correct?

3. Consider the following statements about the Insurance Regulatory and Development Authority of India:

1. It is a statutory body established under the General Insurance Business (Nationalisation) Act, 1972.
2. It is chaired by Secretary, Department of Financial services.
3. It has the power to adjudicate disputes between insurers and intermediaries or insurance intermediaries.

How many of the statements given above is/are correct?

4. Consider the following statements about the Special Economic Zones (SEZs):

1. Units in SEZs require no licence for import.
2. Sourcing and manufacturing units are exempted from Minimum Alternate Tax.
3. Exemption from the Goods and Services tax (GST) and levies imposed by state government.

How many of the statements given above is/are correct?

5. Consider the following statements regarding Software Services Exports of India:

1. The value of India’s exports of software services is more than 100 billion dollars.
2. The USA is the major destination for software exports from India accounting for more than 50 percent.

Which of the statements given above is/are correct?

6. How many of the following statutory bodies is/are part of Ministry of Micro, Small and Medium Enterprises (MSME) Ministry?

1. Khadi and Village Industries Commission (KVIC)
2. Coir Board
3. National Small Industries Corporation Limited (NSIC)
4. Mahatma Gandhi Institute for Rural Industrialisation (MGIRI)

Select the correct answer using the code given below.

7. Consider the following statements with reference to the National Manufacturing Competitiveness Programme (NMCP):

1. It is launched to improve global competitiveness among the Indian MSMEs.
2. It is implemented in PPP mode.
3. New Zero Defect and Zero Effect Financial support (ZED) certification is provided under this scheme.

How many of the statements given above is/are correct?

8. With reference to Mission Coking Coal, consider the following statements:

1. Mission Coking Coal aims to increase production of domestic coking coal which has a high ash coal content.
2. The mission has been launched under Panchamrit program to achieve carbon neutrality.

Which of the statements given above is/are correct?

9. Consider the following statements with reference to the Competition Act, 2002:

1. It replaced the Monopolies and Restrictive Trade Practices Act, 1969 (MRTP Act).
2. It provides for the establishment of National Company Law Appellate Tribunal.
3. It empowers the Competition Commission of India to penalise companies involved in anti-competitive agreements.

How many of the statements given above is/are correct?

10. Consider the following statements about Shell companies:

1. They are corporate entities that do not have any active business operations.
2. They are defined as illegal entities under the Company Act 2013.

Which of the statements given above is/are correct?

11. Consider the following statements regarding the newly proposed Freight Smart Cities initiative:

1. Only 4-star ranked smart cities are eligible to be selected under this initiative.
2. It will have participation of both public and private sectors.

Which of the statements given above is/are correct?

12. Consider the following statements about Micro-insurance:

1. It is to promote insurance coverage among economically vulnerable sections of society.
2. NGOs, Self Help Groups, or Micro Finance Institutions can be appointed by an insurer to act as a micro-insurance agent.
3. It is regulated by the Ministry of Finance.

How many of the statements given above is/are correct?

13. Consider the following statements about Aviation Sector in India:

1. It is the third-largest air passenger market in the world.
2. In this sector, FDI over 49% will require government approval.
3. The Director-General of Civil Aviation regulates tariffs for aeronautical services.

How many of the statements given above is/are correct?

14. Consider the following statements about the Indian Pharmaceuticals industry:

1. It is the largest Pharmaceuticals industry in the world in terms of volume.
2. It is the largest provider of Generic Drugs globally.
3. 100% FDI is allowed in both greenfield and brownfield projects.

Which of the statements given above is/are correct?

15. Infrastructure status given to various sectors in the economy is granted by which of the following?