Industrial Liberalisation

Q.

Liberalisation means _________.

1. Integrating among economics

2. Policy of planned disinvestment

3. End of license and reduction of government control

4. None of these

Q.

Which of the following industries is reserved for the public sector?

1. Atomic energy generation

2. Chemicals

3. Both 1 and 2

4. Soft-drinks

Q.

What does MRTP stand for?

Q.

In Independent India, the first industrial policy was announced in:

1. 1947

2. 1950

3. 1956

4. 1948

Q.

How many industries retain licensing after the LPG reforms even today?

1. 3

2. 5

3. 10

4. 18

Q.

Which act has been enacted in place of the MRTP Act?

1. Competition Act

2. Monopoly Act

3. Foreign Exchange Act

4. Licensing Act

Q.

Reforms that are related to the revenue and expenditure of the government are:

1. Fiscal Reforms

2. Trade Reforms

3. Industry Reforms

4. Monetary Reforms

Q.

The correct expansion of the MRTP Act is

1. Market Revenues and Tax Policies

2. Monopoly Reforms and Tariffs Policy

3. Monopoly and Restrictive Trade Practices

4. Multi-Reforms for Trade Practices

Q.

The industry of tobacco and cigarettes is now free of license controls. State true or false.

1. False

2. True

Q.

De-licensing and abolition of price controls fall under liberalisation of which of the following segments?

1. Tax

2. Investment

3. Trade

4. Industry

Q.

The architects of the eighth plan were:

1. P.C Mahalanobis and Jawaharlal Nehru

2. Kaushik Basu and Jawaharlal Nehru

3. PV Narasimha Rao and Manmohan Singh

4. Montek Singh Ahluwalia and Manmohan Singh

Q.

Which of the following industries remain within government control?

1. Alcohol

2. Textiles

3. Rubber

4. Gun-powder

Q.

The first commercially successful cotton-spinning machine was

1. Spinning Jenny

2. Water frame

3. Mule

4. None of these

Q.

Which of the following is implied by liberalisation in the context of this chapter?

1. Liberalisation is the process by which the nation gives up its cultural identities and traditions, replacing them with modern ideas.

2. Liberalisation is the process by which the country is integrated into the global economy.

3. Liberalisation is the process by which government control and red-tapism are reduced, and operations of the economy are less tethered by restraints.

4. None of the above

Q. Which one of the following is not a element of Industrial policy of India since 1991 ?

1. Removal of entry barriers
2. Reservation of areas reserved exclusively for the public sector
3. Public sector monopoly for power development
4. Liberalisation for foreign investment policy

Q. Match list I with list II and select the correct answer using the codes given in the list below:

Q. Amendment and license, renewal of license, applications for licence of Contract Labour (Regulation and Abolition) Act, 1970 is included in chapter __________.

1. IV
2. II
3. III
4. I

Q. Differentiate between ginning and spinning.