Indian Economy MCQs

Notes:
It is a much traded Cotton variety. Some other varieties are:

• Suvin – Known for its long staple length and premium quality, it is a hybrid of Egyptian and Indian cotton.
• DCH-32 – A hybrid cotton known for its extra-long staple.
• Bunny – A high-yielding variety of cotton.
• Jaydhar – An indigenous variety grown mainly in Maharashtra.
• LH-1556 – A hybrid variety, often grown in Northern India.
• Varalaxmi – A hybrid variety popular in South India.
• Shankar-4 – Similar to Shankar-6, this variety is also known for its medium staple cotton.
• Mech-184 – A genetically modified (Bt) cotton variety.

Notes:
Under the Banking Regulation Act, 1949, unclaimed deposits are defined as funds not operated for 10 years in India but commonly considered 5 years under US state dormancy laws. Indian Reserve Bank amendments in 2014 require banks to transfer such amounts to the Depositor Education and Awareness Fund after 10 years.

Notes:
In the year 1948, India’s first Industrial Policy Resolution was adopted. This resolution defined the roles of government in development of industries in independent India. This policy determined that India would follow a mixed economy model having both public and private enterprises.

Notes:
Its barrel per day , amount of crude oil (measured in barrels) produced or consumed by an entity in one day. One barrel 42 gallons

Notes:
The correct answer is SEBI (Securities and Exchange Board of India). SEBI was established in 1988 and became a statutory body in 1992. It regulates the securities market in India, protecting investor interests and promoting the development of the market. The RBI (Reserve Bank of India) primarily oversees monetary policy and banking regulation, while BSE (Bombay Stock Exchange) is a stock exchange, not a regulatory body.

Notes:
Refinery products have the highest weightage of 28.04% in the Index of Industrial Production as per the IIP series with base year 2011-12. The Index of Industrial Production was first published in 1937. The IIP is calculated and released by the National Statistical Office, Ministry of Statistics and Programme Implementation, Government of India.

Notes:
The provisions relating to promissory notes are incorporated in the Negotiable Instruments Act, 1881. This Act governs various financial instruments, including promissory notes, bills of exchange, and cheques. It was enacted to facilitate trade and commerce by providing a legal framework for negotiable instruments in India. The Indian Contract Act, 1872, primarily deals with general contract law, while the Indian Partnership Act, 1932, focuses on partnerships.

Notes:
Competitive devaluation refers to countries deliberately reducing their currency value to make exports cheaper. When multiple countries do this, the benefit to any one country’s exporters is reduced, harming their export competitiveness. In recent years, central banks have intervened to devalue currencies, impacting exporters most. Exporters lose price advantage if other nations devalue simultaneously. The phenomenon is termed a currency war.

Notes:
The Tank irrigation is more in the rocky plateau area of the county, where the rainfall is uneven and highly seasonal. The Eastern Madhya Pradesh, Chhattisgarh, Orissa, Interiors of Tamil Nadu and some parts of Andhra Pradesh have more land under tank irrigation.

Notes:
Shares outstanding equals total issued shares minus treasury shares. Treasury shares are shares repurchased by the company and held in its treasury. Shares outstanding are used in calculating market capitalization and earnings per share. Only shares held by external shareholders are considered outstanding. This figure changes when the company buys back or issues new shares.