Question : Statement 1: The Industrial Policy Resolution of 1956 aimed to promote the growth of the public sector in India.
Statement 2: The resolution emphasized the role of private enterprises in industrial development.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, and statement 2 is false.
Option 4: Statement 1 is false, and statement 2 is true.
Correct Answer: Statement 1 is true, and statement 2 is false.
Solution : The correct answer is (c) Statement 1 is true, and statement 2 is false.
Statement 1 is true. The Industrial Policy Resolution of 1956 in India did aim to promote the growth of the public sector. The resolution emphasized the development of key industries in the public sector and the state's leading role in guiding industrialization. It aimed to establish a socialistic pattern of society by giving the state a significant role in industrial development.
Statement 2 is false. The resolution did not emphasize the role of private enterprises in industrial development. While the private sector was not excluded or discouraged, the primary focus of the policy was on promoting the growth of the public sector and state-led industrialization.
Therefore, the correct answer is that statement 1 is true, and statement 2 is false.
Answer laterQuestion : Statement 1: The Industrial Policy Resolution of 1956 emphasized the development of small-scale industries in India.
Statement 2: The Industrial Policy Resolution aimed to promote state control over key industries.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, and statement 2 is false.
Option 4: Statement 1 is false, and statement 2 is true.
Correct Answer: Statement 1 is false, and statement 2 is true.
Solution : The correct answer is (d) Statement 1 is false, and statement 2 is true.
Statement 1 is false. The Industrial Policy Resolution of 1956 did not specifically emphasize the development of small-scale industries. It focused more on the establishment of a mixed economy and the promotion of state control over key industries.
Statement 2 is true. The Industrial Policy Resolution of 1956 indeed aimed to promote state control and regulation over key industries. It advocated for a planned approach to industrial development and emphasized the public sector's role in crucial sectors.
Therefore, statement 1 is false, as the Industrial Policy Resolution of 1956 did not emphasize the development of small-scale industries. Statement 2 is true, as it aimed to promote state control over key industries. I apologize for any confusion caused by my previous response.
Question : Assertion: The Industrial Policy Resolution of 1956 aimed to promote the growth of the public sector in India.
Reason: The resolution emphasized the role of private enterprises in industrial development.
Option 1: Both the assertion and reason are true, and the reason is the correct explanation of the assertion.
Option 2: Both the assertion and reason are true, but the reason is not the correct explanation of the assertion.
Option 3: The assertion is true, but the reason is false.
Option 4: The assertion is false, but the reason is true.
Correct Answer: The assertion is true, but the reason is false.
Solution : The correct answer is (c) The assertion is true, but the reason is false.
The assertion is true. The Industrial Policy Resolution of 1956 in India aimed to promote the growth of the public sector. It emphasized the importance of the public sector in industrial development and called for the establishment and expansion of public sector enterprises to drive industrialization and economic growth.
However, the reason is false. The resolution did not emphasize the role of private enterprises in industrial development. In fact, it focused more on the public sector and the role of the state in planning and directing industrial growth. The policy aimed to reduce private concentration of economic power and promote public ownership and control of key industries.
Therefore, while the assertion is true, the reason is false, and they do not form a correct explanation of each other.
Question : Which among the following banks launched the "Gram Seva Program" across six states in India in October 2022?
Option 1: Industrial Credit and Investment Corporation of India
Option 2: Reserve Bank of India
Option 3: State Bank of India
Option 4: Housing Development Finance Corporation
Correct Answer: State Bank of India
Solution : The correct option is the State Bank of India.
The State Bank of India (SBI) launched the "Gram Seva Program" on Gandhi Jayanti 2022, targeting comprehensive village development in education, healthcare, livelihoods, and infrastructure.
Question : What was the main aim of the First Five Year Plan?
Option 1: Self-dependent
Option 2: Industrial growth
Option 3: Economic growth
Option 4: Agricultural growth
Correct Answer: Agricultural growth
Solution : The correct answer is Agricultural growth.
An advanced and strategic first five-year plan was formulated to improve India’s economy after its independence in 1951. The plan aimed to bring changes, and make India self-sufficient, and economically powerful. The major focus behind the first Five-year plan was to handle agriculture development.
Question : Statement 1: The Industrial Policy Resolution of 1956 aimed to promote the development of small-scale industries in India.
Statement 2: The resolution emphasized the role of large-scale industries in industrial growth.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, and statement 2 is false.
Option 4: Statement 1 is false, and statement 2 is true.
Correct Answer: Statement 1 is true, and statement 2 is false.
Solution : The correct answer is (c) Statement 1 is true, and statement 2 is false.
Statement 1 is true. The Industrial Policy Resolution of 1956 in India did aim to promote the development of small-scale industries. The policy recognized the importance of small-scale industries for employment generation, promoting entrepreneurship, and regional development. It provided support and incentives for the growth of small-scale industries.
Statement 2 is false. The resolution did not primarily emphasize the role of large-scale industries in industrial growth. While large-scale industries were not disregarded or neglected, the primary focus of the policy was on promoting small-scale industries. The government recognized the potential of small-scale industries in driving industrial growth, especially in sectors such as cottage and village industries.
Therefore, the correct answer is that statement 1 is true, and statement 2 is false.
Question : The Foreign Exchange Management Act (FEMA) replaced which earlier act?
Option 1: Foreign Exchange Regulation Act (FERA)
Option 2: Foreign Investment Promotion Board (FIPB)
Option 3: Industrial Development and Regulation Act (IDRA)
Option 4: Companies Act
Correct Answer: Foreign Exchange Regulation Act (FERA)
Solution : The correct answer is (a) Foreign Exchange Regulation Act (FERA).
The Foreign Exchange Regulation Act (FERA) was enacted in 1973 in India to regulate foreign exchange transactions, currency dealings, and related matters. FERA imposed strict controls on foreign exchange transactions, including restrictions on the possession, holding, and transfer of foreign currency. It aimed to conserve and manage India's foreign exchange reserves and prevent illegal activities such as money laundering and unauthorized foreign exchange dealings.
FEMA replaced FERA and brought significant changes to the regulatory framework for foreign exchange transactions in India. It aimed to promote external trade and payments, facilitate foreign investments, and simplify the procedures for foreign exchange transactions. FEMA introduced a more liberal and transparent regime, allowing greater flexibility in foreign exchange transactions and reducing bureaucratic controls.
Question : The shift in class structure post-independence in India was influenced by:
Option 1: The abolition of the caste system
Option 2: The growth of the industrial and service sectors
Option 3: Decreased urbanization
Option 4: Reduction in income inequalities
Correct Answer: The growth of the industrial and service sectors
Solution : The shift in class structure post-independence in India was influenced by the growth of the industrial and service sectors, which led to the emergence of new classes and a change in the socioeconomic landscape.
Question : The success of workers' movements in India can be measured by:
Option 1: The number of strikes organized
Option 2: The improvement in workers' rights and conditions
Option 3: The increase in industrial output
Option 4: The expansion of export markets
Correct Answer: The improvement in workers' rights and conditions
Solution : The success of workers' movements in India is primarily measured by the improvement in workers' rights and conditions, such as better wages, safer working environments, and the recognition of labor unions.
Question : Which among the following corridors was inaugurated by Prime Minister Narendra Modi in October 2022?
Option 1: Mahakal Lok Corridor
Option 2: Chennai Bengaluru Industrial Corridor
Option 3: Kashi Corridor
Option 4: North East Economic Corridor
Correct Answer: Mahakal Lok Corridor
Solution : The correct option is Mahakal Lok Corridor.
The Mahakal Lok Corridor was inaugurated by PM N. Modi at Mahakaleshwar Temple in Ujjain. This corridor is 900 metres in length. The total cost estimated for this project is Rs. 856 crores. This is the first phase of the project, estimated at Rs. 351 crores.
