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Quiz 95 : Indian Economy for Banking Examinations

1. Demand of which among the following will be called as Direct Demand?
[A] Weaving Machine
[B] Sweater
[C] Wool for Factory
[D] Wool for making gloves

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Correct Answer: B [Sweater]
2. Sales from Domestic Tariff Area (DTA) to SEZs are to be treated as which among the following?
[A] Exports
[B] Imports
[C] Domestic Sales
[D] Domestic procurement

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Correct Answer: A [Exports]
3. Which among the following is a correct expansion of EPCG?
[A] Export Promotion Consumer Goods
[B] Export Promotion Capital Goods
[C] Export Products Capital Gains
[D] Export Promotion Capital Gains

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Correct Answer: B [Export Promotion Capital Goods]
4. Which among the following commodities is completely deregulated in India?
[A] Kerosene
[B] Diesel
[C] Gasoline
[D] All the above

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Correct Answer: C [Gasoline]
5. In which among the following sector of Indian Economy, the Public Sector is most prominent?
[A] Steel
[B] Transport
[C] Finance
[D] Agriculture

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Correct Answer: B [Transport]
6. At which among the following places, India’s First steel factory was established?
[A] Jamshedpur
[B] Durgapur
[C] Burnpur
[D] Bhilai

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Correct Answer: C [Burnpur]
Notes:
In 1870 a small plant was founded by James Erskine in the jungles of Kulti to make iron. This produced only “Cast Iron”. Starting off as Bengal Iron Works Company, it became Burrakar Iron Works in 1881 and was renamed as Bengal Iron and Steel Company in 1890. Later in 1926 the company again changed its name to Bengal Iron Company Ltd.
 
7. Which among the following Industries in India provided employment to maximum workers in comparison to the other three?
[A] Jute
[B] Sugar
[C] Cotton textile
[D] Cement

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Correct Answer: C [Cotton textile]
8. What is India’s rank in production of Sugar cane?
[A] First
[B] Second
[C] Third
[D] Fourth

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Correct Answer: B [Second]
9. In how many zones Indian Railway has been divided?
[A] 14
[B] 16
[C] 17
[D] 20

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Correct Answer: C [17]
10. Life Insurance Corporation of India is a ____________ ?
[A] Department of Govt. of India
[B] Corporation established by a special Act of Parliament
[C] Independent Body
[D] Company established under Companies Act 1956

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Correct Answer: B [Corporation established by a special Act of Parliament]