Which committee recommended the abolition of industrial licensing in India?
Correct Answer:
(B)
Subimal Dutt committee
The Dutt Committee was associated with the Industrial Licensing Policy Inquiry. This committee was set up to examine the existing industrial licensing policy and suggest reforms to improve industrial growth and efficiency.
Ques:
12
What is/are the purpose/purposes of 'District Mineral Foundations' in India?
Promoting mineral exploration activities in mineral-rich districts.
Protecting the interests of the persons affected by mining operations.
Authorizing state Governments to issue licenses for mineral exploration.
Select the correct answer using the code given below.
Correct Answer:
(B)
2 only
District Mineral Foundation (DMF) is a trust set up as a non-profit body, in those districts affected by the mining works, to work for the interest and benefit of persons and areas affected by mining related operations. It is funded through the contributions from miners. Its manner of operation comes under the jurisdiction of the relevant State Government. Setting up of District Mineral Foundations (DMFs) in all districts in the country affected by mining related operations was mandated through the Mines and Minerals (Development & Regulation) Amendment Act, 2015. On 16 September 2015, Central Government issued a notification directing states to set up DMF.
Ques:
13
In the 'Index of Eight Core Industries', which one of the following is given the highest weight?
Correct Answer:
(B)
Electricity generation
The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade releases the 'Index of Eight Core Industries' (ICI) for every month with base 2011 – 12 = 100. ICI measures combined and individual performance of production in selected Eight Core Industries. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP). The weights (in %) of Eight Core Industries in ICI in descending order are as follows:
1. Refinery Products (28.0376),
2. Electricity (19.8530),
3. Steel (17.9166),
4. Coal (10.3335),
5. Crude Oil (8.9833),
6. Natural Gas (6.8768),
7. Cement (5.3720),
8. Fertilizers (2.6276).
Hence, in the ICI, highest weight is given to refinery products, but among the given options the highest weight is given to electricity generation.
Ques:
14
Consider the following statements regarding Critical Minerals:
1. It is a metallic or non-metallic element essential for the functioning of modern technologies.
2. China and India are the top producers of Critical Minerals in the world.
Which of the statements given above is/are correct?
Correct Answer:
(A)
1 only
An expert committee set up by the Central Government recently identified 30 minerals as critical to India, including lithium and vanadium, which are largely used in the manufacturing of batteries.
About Critical Minerals:
It is a metallic or non-metallic element that has two characteristics.
It is essential for the functioning of our modern technologies, economies or national security and
There is a risk that its supply chains could be disrupted.
The 'criticality' of minerals changes with time as supply and society's needs shift.
Applications:
They are used to manufacture advanced technologies, including mobile phones, computers, fibre-optic cables, semiconductors, banknotes, and defence, aerospace and medical applications.
Many are used in low-emission technologies, such as electric vehicles, wind turbines, solar panels, and rechargeable batteries.
Some are also crucial for common products, such as stainless steel and electronics.
Examples: antimony, beryllium, bismuth, cobalt, copper, gallium, germanium, lithium, vanadium etc.
Top Producers: Chile, Indonesia, Congo, China, Australia and South Africa.
Ques:
15
Consider the following statements regarding Critical Mineral Mission:
1. The mission aims to enhance exploration and mining activities within India to increase the domestic output of critical minerals.
2. Under the mission, India seeks to establish long-term supply contracts with South-East Asian countries.
which of the following statement(s) given above is/are correct?
Correct Answer:
(A)
1 only
Statement 1 is correct. One of the primary objectives of the Critical Mineral Mission is to boost domestic production by enhancing exploration and mining activities within India. This initiative aims to reduce import dependency and ensure a stable supply of critical minerals for various industries.
Statement 2 is incorrect. While the Critical Mineral Mission does aim to secure international supplies through long-term contracts, the focus has been primarily on resource-rich countries, especially in Africa, rather than South-East Asia. The mission involves engaging with mineral-rich countries to secure a stable supply of critical minerals.
Ques:
16
Consider the following statements:
Countries create their own critical minerals list based on strategic needs.
These are minerals that are essential for economic development and national security.
which of the following statement(s) given above is/are correct?
Correct Answer:
(C)
Both 1 and 2
A critical mineral is a metallic or non-metallic element crucial for modern technologies, economies, and national security, with the potential risk of disruptions to its supply chains. It includes both primary and processed minerals.
A mineral is critical when the risk of supply shortage and associated economic impact is (relatively) higher than other raw materials.
Countries create their own critical minerals list based on strategic needs.
These are minerals that are essential for economic development and national security.
The lack of availability of these minerals or the concentration of extraction or processing in a few geographical locations can lead to “supply chain vulnerabilities and even disruption of supplies”.
Ques:
17
With reference to the Public Sector Undertakings in India, consider the following statements :
Minerals and Metals Trading Corporation of India Limited is the largest non-oil importer of the country.
Project and Equipment Corporation of India Limited is under the Ministry of Industry.
One of the objectives of Export Credit Guarantee Corporation of India Limited is to enforce quality control and compulsory pre-shipment inspection of various exportable commodities.
Which of these statements is/are correct?
Correct Answer:
(B)
1 and 2
MMTC is the largest non–oil importer in India. It’s diverse trade activities encompass third country trade, joint ventures, link deals – all modern day tools of international trading. The Project and Equipment Corporation of India Limited (Now PEC Limited) was incorporated as a subsidiary of State Trading Corporation of India Limited on April 1971. It comes under the Ministry of Commerce & Industry. ECGC Limited (Formerly Export Credit Guarantee Corporation of India Ltd.) provides export credit insurance support to Indian exporters. It is not related to the works such as quality control and compulsory pre-shipment inspection. Hence, statement 3 is wrong, while statements 1 and 2 are correct.
Ques:
18
Consider the following statements:
MMTC Limited is India’s largest international trading organization.
Neelanchal Ispat Nigam Limited has been set-up by MMTC jointly with the Government of Odisha.
Which of the statement given above is/are correct?
Correct Answer:
(C)
Both 1 and 2
Neelachal Ispat Nigam Limited (NINL) was incorporated in 1982 to set-up 1.1 million tonne Integrated Iron and Steel Plant in Kalinga Nagar Industrial Complex, district Jajpur, Odisha to undertake the manufacture and sale of steel products. NINL is promoted by MMTC Ltd., Industrial Promotion and Investment Corporation of Odisha Ltd. (IPICOL) and other government agencies. NINL has become India's largest exporter of saleable pig iron since 2004-05. MMTC Ltd. (Metals and Minerals Trading Corporation of India), is one of the two highest earners of foreign exchange for India (after petroleum refining companies) and India’s largest public sector trading body. It is the largest international trading company of India and the first public sector enterprise to be accorded the status of Five Star Export House by Government of India for long standing contribution to exports.
Ques:
19
With reference to the functions of Public Sector in India, which of the following statements is/are correct?
To provide public utility resources
To build social and economic overhead capital
To ensure balanced regional and sectoral growth
To pursue egalitarian goals
Select the correct answer using the codes given below :
Correct Answer:
(C)
1, 2, 3 and 4 are correct
The functions and objectives of Public Sector in India includes – to provide public utility resources, to build social and economic overhead capital, to ensure balanced regional and sectoral growth and to pursue egalitarian goals (through promoting redistribution of income and wealth). Generating financial resources for development, creating employment opportunities, encouraging the development of small scale and ancillary industries, and accelerating export promotion and import substitution are some other main objectives and functions of Public Sector in India.
Ques:
20
Which of the following is NOT a public sector undertaking/enterprise?
Correct Answer:
(D)
T.I.S.C.O.
Formerly known as Tata Iron and Steel Company Limited (TISCO), Tata Steel is among the top steel producing companies in the world with an annual crude steel capacity of 34 million tons per annum. It is a subsidiary of the Tata Group. It was established at Jamshedpur, Jharkhand in 1907. It is not a public sector enterprise. NTPC, SAIL and BHEL are Maharatna CPSEs.