WBCS Mains Indian Economy Industry Questions 2023

Q. Which of the following has registered a high rate of growth since the 1980s?

(A) Capital goods industries
(B) Consumer durable goods industries
(C) Intermediate goods industries
(D) Consumer non-durable goods industries

Correct Answer: (B) Consumer durable goods industries

Q. The Information Technology industry of India has a great potential

(A) to generate foreign exchange earnings.
(B) to generate employment for the masses.
(C) to ensure regional balance in industrial development.
(D) None of the above

Correct Answer: (A) to generate foreign exchange earnings.

Q. Which of the following is a recently framed labour code of the Government of India?

(A) Code on wages
(B) Industrial relations code
(C) Code on social security
(D) All of the above

Correct Answer: (D) All of the above

Q. Which of the following is a reputed software company in India?

(A) Larsen and Toubro
(B) Mahindra and Mahindra
(C) Hindustan Unilever
(D) HCL Technologies

Correct Answer: (D) HCL Technologies

Q. Which of the following is known as the Diamond City of India?

(A) Hyderabad
(B) Surat
(C) Jaisalmer
(D) Dhanbad

Correct Answer: (B) Surat

Q. In which of the following industries Indian women are mostly employed?

(A) Textile and garment industry
(B) Jute industry
(C) Sugar industry
(D) Paper industry

Correct Answer: (A) Textile and garment industry

Q. Which sector contributes most to Gross Domestic Product in India?

(A) The Industrial Manufacturing sector
(B) The Agricultural sector
(C) The Tertiary sector
(D) The Mining sector

Correct Answer: (C) The Tertiary sector

WBCS Mains Indian Economy Industry Questions 2022

Q. Which Industrial Policy is known as the ‘Economic Constitution of India’?

(A) 1948
(B) 1956
(C) 1977
(D) 1991

Correct Answer: (B) 1956

Q. Consider the following statements regarding Bharatmala Programme:

(A) It includes development of State Road along coastal areas.
(B) It includes backward areas, religious, Tourist Places Connectivity Programme.
(C) It includes Setubharatam Pariyojana which is for the construction of about 1500 major bridges.

(A) Only (A) and (B) are true
(B) Only (A) and (C) are true
(C) (B) and (C) are true
(D) All of the above

Correct Answer: (D) All of the above

Q. Against the backdrop of Disinvestment Policy of the Government of India, New Public Sector Enterprise (PSE) Policy for Atmanirbhar Bharat was notified on

(A) 5th January, 2021
(B) 4th February, 2021
(C) 5th March, 2022
(D) 10th March, 2022

Correct Answer: (A) 5th January, 2021

WBCS Mains Indian Economy Industry Questions 2021

Q. How many key infrastructure sectors are known as Core sector in Indian economy used for Index of Industrial Production (IIP) data?

(A) 5
(B) 6
(C) 7
(D) 8

Correct Answer: (D) 8

WBCS Mains Indian Economy Industry Questions 2020

Q. Petrochemical industries have a long chain effect on downstream industries.

(A) True
(B) False
(C) Applies to some extent
(D) Uncertain

Correct Answer: (A) True

Q. Policy of freight equalisation affected West Bengal

(A) beneficially
(B) adversely
(C) it was neutral
(D) uncertain

Correct Answer: (B) adversely

Q. Disinvestment of the public sector enterprises took place because of

(A) capacity unutilisation.
(B) low profitability.
(C) increased burden of subsidy.
(D) All of the above

Correct Answer: (D) All of the above

Q. Small scale industries in India are advantageous as

(A) they have high employment potential.
(B) highly capital intensive.
(C) use of local skill and material.
(D) capital used per worker relatively low.

Correct Answer: (A) they have high employment potential.

Q. First Industrial Policy came into existence in the year,

(A) 1947
(B) 1948
(C) 1950
(D) 1956

Correct Answer: (B) 1948

Q. Which of the following statements is NOT correct about the Industrial Policy 1991?

(A) Abolition of industrial licence for majority industries.
(B) Upper limit of foreign investment reduced.
(C) Upper limit of foreign investment raised.
(D) Privatisation of public sector enterprises introduced.

Correct Answer: (B) Upper limit of foreign investment reduced.

Q. The new economic policy observed this approach toward monopolies ______

(A) Remove all restrictions on monopolies
(B) Tighten such restrictions
(C) Keep neutral approach
(D) Regulate monopolies partly

Correct Answer: (A) Remove all restrictions on monopolies

Q. Public Sector Enterprises (PSE) assumed this role after new economic policy ______

(A) Their importance increased.
(B) Their importance decreased.
(C) Neutral.
(D) Uncertain.

Correct Answer: (B) Their importance decreased.

Q. Economic infrastructure does not include this item:

(A) Road-rail network
(B) Electricity generation
(C) Telecommunication
(D) Programme for literacy

Correct Answer: (D) Programme for literacy

Q. In the pre-reform period public sector enterprises in India witnessed ______

(A) high inefficiency and subsidy
(B) increased cost of production
(C) high degree of profit
(D) Both (A) and (B)

Correct Answer: (D) Both (A) and (B)

Q. The second five year plan gave utmost emphasis on the growth of the following industry:

(A) Consumer goods
(B) Capital goods
(C) Small scale industries and ancillaries
(D) Electronic goods industry

Correct Answer: (B) Capital goods

WBCS Mains Indian Economy Industry Questions 2019

Q. MSMEs Development Act, 2006 defines Medium Service Sector

(A) above Rs. 2 crore to Rs. 5 crore.
(B) above Rs. 5 crore to Rs. 10 crore.
(C) up to Rs. 25 lakh.
(D) above Rs. 10 lakh to Rs. 2 crore.

Correct Answer: (B) above Rs. 5 crore to Rs. 10 crore.

Q. Find the odd one in the list of Navaratnas (IT):

(A) Bharat Electronics Limited (BEL)
(B) Rashtriya Ispat Nigam Limited (RINL)
(C) National Thermal Power Corporation (NTPC)
(D) Hindustan Aeronautics Limited (HAL)

Correct Answer: (D) Hindustan Aeronautics Limited (HAL)

Q. Industrial sickness due to the managerial incompetence and wrong policies pursued deliberately for want of genuine stake is known as

(A) Genuine sickness
(B) Incipient sickness
(C) Induced sickness
(D) None of the above

Correct Answer: (C) Induced sickness

Q. Maharatna Oil PSU Indian Oil will invest over ________ in West Bengal in the next two years.

(A) Rs. 1300 crore
(B) Rs. 1200 crore
(C) Rs. 1100 crore
(D) Rs. 1000 crore

Correct Answer: (A) Rs. 1300 crore

Q. Dutch firms are ready to help in setting up port facilities (Logistic Hub) at ________ in West Bengal.

(A) Calcutta Port
(B) Haldia Port
(C) Tajpur and Kulpi
(D) All of the above

Correct Answer: (C) Tajpur and Kulpi

WBCS Mains Indian Economy Industry Questions 2018

Q. The Government launched the UDYAMI helpline for which among the following?

(A) Large capital industries
(B) Female entrepreneur
(C) Farmers introducing technology in farming
(D) Micro, small & medium size enterprises

Correct Answer: (D) Micro, small & medium size enterprises

Q. “Golden Handshake Scheme” is associated with

(A) Inviting foreign companies
(B) Private investment in public enterprises
(C) Establishing Joint Enterprises
(D) Voluntary retirement

Correct Answer: (D) Voluntary retirement

Q. The apex organisation of Industrial finance in India is

(A) IDBI
(B) RBI
(C) ICICI
(D) IFCI

Correct Answer: (A) IDBI

Q. SIDBI stands for

(A) Small Industrial Development Banker Institute
(B) Small Industries Design Bank of India
(C) Small Industries Development Bank of India
(D) Small Innovation Development Banker’s Institute

Correct Answer: (C) Small Industries Development Bank of India

Q. The biggest public sector undertaking in India is

(A) Iron and Steel plants
(B) Airways
(C) Railways
(D) Roadways

Correct Answer: (C) Railways

Q. Main argument in favour of small scale and cottage industries in India is that

(A) cost of production is low.
(B) they require small capital investment.
(C) they advance the goal of equitable distribution of wealth.
(D) they generate large volume of employment.

Correct Answer: (D) they generate large volume of employment.

Q. Which of the following sector does not come under the service sector in India?

(A) Real Estate
(B) Transport
(C) Restaurants & Hotels
(D) Formation of electronic television

Correct Answer: (D) Formation of electronic television

Q. Which among the following was the first Government Company to be privatized in India?

(A) Hotel Corporation of India
(B) Rashtriya Chemicals & Fertilizers Ltd.
(C) Maruti Udyog Limited
(D) Modern Foods Industries Limited

Correct Answer: (D) Modern Foods Industries Limited

WBCS Mains Indian Economy Industry Questions 2017

Q. India opted for ‘mixed economy’ in

(A) framing of the constitution.
(B) Industrial Policy of 1948.
(C) Second Five Year Plan.
(D) None of the above

Correct Answer: (B) Industrial Policy of 1948.

Q. Abid Husain Committee is related to

(A) reform in taxes.
(B) reform in government projects.
(C) reform in small industries.
(D) reform in middle level industries.

Correct Answer: (C) reform in small industries.

Q. The New Industrial Policy in India was announced in 2 phases

(A) 24 July, 1992; 6 August 1992
(B) 6 July, 1991; 24 August 1991
(C) 24 July, 1991; 6 August 1991
(D) 6 July, 1992; 24 August 1991

Correct Answer: (C) 24 July, 1991; 6 August 1991

Q. Under the Monopolies and Restrictive Trade Practices Act (MRTP Act) 1969, those firms were classified as monopolies or MRTP firms which have

(A) assets above a certain size
(B) high expenditure in research & development
(C) transfer-pricing
(D) marketing services

Correct Answer: (A) assets above a certain size

Q. Which one of the following is a driving force influencing the industrial growth of an economy?

(A) Economic factors only
(B) Investment only
(C) Innovation/ Market base only
(D) All of the above

Correct Answer: (D) All of the above

Q. In which sector, the Public Sector is most dominant in India?

(A) Transport
(B) Commercial banking
(C) Steel production
(D) Organised term-lending financial institutions

Correct Answer: (D) Organised term-lending financial institutions

Q. In the context of India’s Five Year Plans, a shift in the pattern of industrialisation, with lower emphasis on heavy industries and more on infrastructure begins in

(A) Tenth Plan
(B) Eighth Plan
(C) Sixth Plan
(D) Fourth Plan

Correct Answer: (B) Eighth Plan

Q. The Board of Industrial and Financial Reconstruction (BIFR) came into existence in

(A) 1984
(B) 1986
(C) 1987
(D) 1989

Correct Answer: (C) 1987

WBCS Mains Indian Economy Industry Questions 2016

Q. When was the Infrastructure Development Finance Company constituted?

(A) During the Eighth Five Year Plan
(B) During the Ninth Five Year Plan
(C) During the Tenth Five Year Plan
(D) During the Seventh Five Year Plan

Correct Answer: (A) During the Eighth Five Year Plan

Q. The ceiling on foreign investment was revised in the Industrial Policy, 1991 from 40 per cent to

(A) 49 per cent
(B) 50 per cent
(C) 51 per cent
(D) 52 per cent

Correct Answer: (C) 51 per cent

Q. Which of the following industries was de-reserved in 1993?

(A) Atomic energy
(B) Atomic minerals
(C) Mining of copper and zinc
(D) Railways

Correct Answer: (C) Mining of copper and zinc

Q. In which among the following years, a new ‘Liberalized Industrial Policy’ in India was announced for the first time?

(A) 1986
(B) 1991
(C) 1992
(D) 1993

Correct Answer: (B) 1991

Q. Rapid industrialisation is the basic objective of

(A) Second Five Year Plan
(B) Third Five Year Plan
(C) Fourth Five Year Plan
(D) Fifth Five Year Plan

Correct Answer: (A) Second Five Year Plan

Q. Which of the following was not an objective of the 1956 industrial policy?

(A) Development of co-operative sector
(B) Expansion of public sector
(C) Develop heavy and machine making industries
(D) None of the above

Correct Answer: (D) None of the above

Q. The Second Five Year Plan of India gave special emphasis on

(A) Labour intensive industries
(B) Heavy and capital goods industries
(C) Consumer goods industries
(D) Small scale and cottage industries

Correct Answer: (B) Heavy and capital goods industries

Q. In Indian states, the state financial corporation has given assistance mainly to develop

(A) agricultural farms
(B) cottage industry
(C) large-scale industries
(D) medium and small-scale industries

Correct Answer: (D) medium and small-scale industries

Q. The Industrial Policy of India was first announced in

(A) 1948
(B) 1956
(C) 1991
(D) 1990

Correct Answer: (A) 1948

WBCS Mains Indian Economy Industry Questions 2015

Q. In the Index of Eight core Industries, which one of the following is given the lowest weight?

(A) Electricity generation
(B) Fertiliser production
(C) Coal
(D) Cement

Correct Answer: (B) Fertiliser production

Q. Industrial growth rate accelerated in 1980s due to growth of:

(A) Electronic and consumer goods
(B) Basic and heavy capital goods
(C) Infrastructural industries
(D) Small scale industries

Correct Answer: (A) Electronic and consumer goods

Q. In case of use of mineral resources of a State by Union Government, the State can:

(A) Increase royalty according to its own will
(B) Cannot increase royalty without permission of the Centre
(C) Sometimes it can change rate
(D) Uncertain

Correct Answer: (B) Cannot increase royalty without permission of the Centre

Q. Attitude of Industrial Policy 1991 toward foreign direct investment was one of:

(A) Total rejection
(B) Increase in the share of FDI
(C) Decrease in the share of FDI
(D) None of the above

Correct Answer: (B) Increase in the share of FDI

Q. Disinvestment of PSEs was required because of this:

(A) Decrease in competitiveness
(B) Increasing subsidy
(C) Increase in capacity unutilisation
(D) All of the above

Correct Answer: (D) All of the above

Q. The National Urban Transport Policy has the following focus –

(A) Move fast
(B) Move people not vehicle
(C) Reduction in public transport
(D) Discouraging non-motorised modes of travel

Correct Answer: (B) Move people not vehicle

Q. Consider the following statements:

1. Indian Textiles Industry contributes about 4% to the GDP
2. The textile sector is the second largest provider of employment
3. It contributes 15% to the country’s export earnings

(A) Only 1 is true
(B) 2 & 3 are true
(C) 1 & 2 are true
(D) All are true

Correct Answer: (D) All are true

Q. Development of basic capital goods industries took place during:

(A) First plan
(B) Second plan
(C) Sixth plan
(D) Eighth plan

Correct Answer: (B) Second plan

Q. Most of the public sector units performed with:

(A) High profit
(B) Subsidy
(C) No profit no loss
(D) None of the above

Correct Answer: (D) None of the above

Q. Which one of the following does not come under liberalization programme?

(A) Removal of Industrial licensing
(B) Reservation of small scale industries items
(C) Reduction in MRTP restrictions
(D) Increasing limit of foreign direct investment

Correct Answer: (B) Reservation of small scale industries items

Q. The first Industrial policy in India was introduced in the year:

(A) 1947
(B) 1948
(C) 1950
(D) 1951

Correct Answer: (B) 1948

Q. The decade 1965-1975 witnessed, in India:

(A) Very high growth of Industries
(B) High growth of Industries
(C) Stagnation
(D) None applies

Correct Answer: (C) Stagnation

Q. Freight equalisation policy affected industrial development in West Bengal in the following way:

(A) Beneficially
(B) Adversely
(C) Neutrally
(D) None applies

Correct Answer: (B) Adversely

Q. Industrial Reforms Policy took this approach to monopolies:

(A) Remove MRTP restrictions
(B) Tighten such restrictions
(C) Neutral attitude
(D) Partly regulate the monopolies

Correct Answer: (A) Remove MRTP restrictions

Q. Number of public sector enterprise (PSE) under New Economic Policy:

(A) Increased
(B) Decreased
(C) Remained same
(D) First increased then decreased

Correct Answer: (B) Decreased

Q. Long Term capital for industrial sector mainly comes from:

(A) RBI
(B) NABARD
(C) Lead bank
(D) Capital Market

Correct Answer: (D) Capital Market

WBCS Mains Indian Economy Industry Questions 2014

Q. Head-quarter of SIDBI (Small Industries Development Bank) is located in –

(A) New Delhi
(B) Mumbai
(C) Lucknow
(D) Kolkata

Correct Answer: (C) Lucknow

Q. Infrastructure Development Finance Company (IDFC) was established in India in the year –

(A) 1997
(B) 1999
(C) 1998
(D) 2001

Correct Answer: (A) 1997

Q. The First Development Financial Institution in India –

(A) IFCI
(B) IDBI
(C) SIDBI
(D) ICICI

Correct Answer: (A) IFCI

Q. Which of the following contributes the maximum earnings in Indian Railways –

(A) Passenger Earnings
(B) Goods Traffic Earnings
(C) Sundry Earnings
(D) Other Coach Earnings

Correct Answer: (B) Goods Traffic Earnings