Indian Economy Textbook Questions – Industrialisation · Industrial Policies 1948, 1956, 1991 · Public Sector and Disinvestment · MSMEs · Current Schemes · Exports, FDI and SEZs · Industrial Development of Tamil Nadu (Part 1)
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Maharatna 2009; Navratna and Miniratna 1997; DIPAM 2016.
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Indian Economy Textbook Questions – Industrialisation · Industrial Policies 1948, 1956, 1991 · Public Sector and Disinvestment · MSMEs · Current Schemes · Exports, FDI and SEZs · Industrial Development of Tamil Nadu (Part 1) – 20 questions, subject: Economy. Every question has the correct answer with a one-line explanation; tap "Show Answer". Free practice for TNPSC, UPSC, SSC, Bank and RRB exams – Shanmugam IAS Academy, Coimbatore.
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1.
Where was India’s first jute mill (1855) set up?
Correct Answer: B [Rishra]
Explanation:
Rishra (West Bengal), George Acland. Serampore = first paper mill (1812); Kulti = Bengal Iron Works (1870); Uttarpara = Hindustan Motors (1948).
2.
Education and health belong to which sector of the economy?
Correct Answer: C [Tertiary (services)]
Explanation:
Community, social and personal services are tertiary. The joint sector is an ownership category (State + private).
3.
On which date was independent India’s first Industrial Policy Resolution announced?
Correct Answer: D [6 April 1948]
Explanation:
6.4.1948; aim was a mixed economy. 30.4.1956 = second resolution; 24.7.1991 = New Industrial Policy.
4.
On which date was the New Industrial Policy announced?
Correct Answer: A [24 July 1991]
Explanation:
24.7.1991 (PM P.V. Narasimha Rao; Finance Minister Manmohan Singh). 1.1.1995 = WTO began.
5.
Whom does the textbook credit with coining the term “globalisation”?
Correct Answer: C [Theodore Levitt]
Explanation:
Prof. Theodore Levitt (Class 10 Social Science, Economics Unit 2).
6.
On which date was the Steel Authority of India Ltd (SAIL) incorporated?
Correct Answer: D [24 January 1973]
Explanation:
24.1.1973 (sail.co.in). March 1982 is when Salem Steel Plant began commercial output, not SAIL's founding.
7.
On which date was MUDRA launched?
Correct Answer: B [8 April 2015]
Explanation:
8.4.2015. Digital India 1.7.2015; Startup India 16.1.2016; Stand-Up India 5.4.2016.
8.
From which date did the composite MSME criterion of investment and turnover first come into force?
Correct Answer: A [1 July 2020]
Explanation:
1.7.2020 (Udyam registration began then too). From 1.4.2025 only the limits were raised under the same criterion.
9.
On which date was “Make in India” launched?
Correct Answer: D [25 September 2014]
Explanation:
25.9.2014; its logo is a lion made of gears.
10.
Where was Asia’s first Export Processing Zone (1965) set up?
Correct Answer: C [Kandla]
Explanation:
Kandla (Gujarat), 1965. Surat, Kochi and Noida came later.
11.
In which year was the Special Economic Zones Act enacted?
Correct Answer: B [2005]
Explanation:
SEZ Act 2005; Rules from 10.2.2006. 2000 = SEZ policy (April); 1985 = three-year Export–Import Policy.
12.
In which year was SIPCOT established?
Correct Answer: D [1971]
Explanation:
SIPCOT 1971; TIDCO and TANSI 1965; SIDCO 1970; TIIC 1949.
13.
Match the event with its year:
| a. Serampore paper mill | 1. 1870 |
| b. Porto Novo iron venture | 2. 1812 |
| c. Bengal Iron Works Company | 3. 1889 |
| d. Digboi oil well | 4. 1830 |
Correct Answer: A [2 4 1 3]
Explanation:
Serampore paper mill 1812; Porto Novo iron venture 1830; Bengal Iron Works 1870; Digboi oil well 1889.
14.
Which statements on the classification of industries are correct?
- Cement and steel are basic goods industries.
- Enterprises run jointly by the government and private parties form the joint sector.
- The paper industry is a mineral-based industry.
Correct Answer: C [1, 2 only]
Explanation:
Cement, steel = basic goods; joint sector = State + private. Paper is forest-based, not mineral-based.
15.
Match the Act with its year:
| a. MRTP Act | 1. 1951 |
| b. FERA | 2. 1999 |
| c. Industries (Development and Regulation) Act | 3. 1969 |
| d. FEMA | 4. 1973 |
Correct Answer: B [3 4 1 2]
Explanation:
MRTP 1969; FERA 1973; Industries (Development and Regulation) Act 1951; FEMA 1999.
16.
How many industries were listed in Schedule A of the Industrial Policy Resolution, 1956?
Correct Answer: D [17]
Explanation:
Schedule A had 17 (State's sole responsibility); Schedule B 12. 18 = licensed in 1991; 8 = reserved for public sector in 1991.
17.
Per the DPIIT Annual Report 2024-25, which industries are reserved exclusively for the public sector?
Correct Answer: B [Atomic energy, railway operations]
Explanation:
8 in 1991, gradually cut to 2: only atomic energy and railway operations (DPIIT Annual Report 2024-25).
18.
Match the event with its year:
| a. Competition Act | 1. 2003 |
| b. Competition Commission of India set up | 2. 2009 |
| c. MRTP Act repealed | 3. 2017 |
| d. FIPB abolished | 4. 2002 |
Correct Answer: C [4 1 2 3]
Explanation:
Competition Act 2002; CCI 2003; MRTP Act repealed 2009; FIPB abolished 2017.
19.
Match the steel plant with the country that helped build it / its ownership:
| a. Bhilai | 1. Private sector |
| b. Rourkela | 2. Soviet Union |
| c. Durgapur | 3. Britain |
| d. TISCO | 4. Germany |
Correct Answer: D [2 4 3 1]
Explanation:
Bhilai – Soviet Union; Rourkela – Germany; Durgapur – Britain; TISCO (1907) – private sector.
20.
In which year was the “Maharatna” status for public sector enterprises introduced?
Correct Answer: A [2009]
Explanation:
Maharatna 2009; Navratna and Miniratna 1997; DIPAM 2016.
? Full lessons and explanations – Indian Economy PDF textbook (₹299): www.shanmugamiasacademy.in/study-materials/tnpsc-gs-unit-5-indian-economy
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Here you get the answer with a one-line explanation. NPSC பொது அறிவு அலகு V — தமிழகப் பொருளாதாரம் முழுவதும் · 10 அத்தியாயங்கள் · 400 பயிற்சி வினாக்கள் விடை + விளக்கத்துடன் · அட்டவணைகள், காலவரிசைகள், மனவரைபடங்கள் · அக்டோபர் 2026 வரையிலான தரவுகள்
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