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Indian Economy Test
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Indian Economy Test 18
Read Instructions for the test.
Negative marks are -0.33 per wrong answer
Right answer is 1 mark
No time limit but finish in 30 mins
Solution can be found at below chapters:
Test series is based on following chapters.
Indian Economy Chapter 10: LABOUR AND EMPLOYMENT ECONOMY
Q1:Unemployment rate is defined as the
number of persons unemployed as a proportion of the labor force
number of people working or seeking work or available for work.
Q2: Unorganized workers social security act, 2008. features
Unorganized workers are covered under it
National and state level boards are created
Workers are given health - disability - maternity coverage and skills and pension benefits.
Q3: Which is true ?
82% of all workers belong to the unorganized sector
Total employed people are 46.5 crore out of which 2.8 crore are employed in organized sector and 43.7 crore in unorganized sector.
Q4:Removal of workers during recession is which type of unemployment.
Q5: Removal of worker doesn't lead to loss of productivity is which kind of unemployment
Q6: economy not generating jobs is which type of unemployment
Structural or open
Q7:not doing work of your qualification is which type of unemployment
Q8:Employee Provident Fund Organization
The E.P.F.O handles social security for Indian and international workers for which bilateral agreements have been signed
The EPFO also handles the pension scheme and insurance scheme.
The EPFO is under administrative control of Labour ministry.
Q9: The Central board of Trustees is chaired by minister of
Q10: Industrial disputes Act
Advance notice must be given to workers and state governments approval must be taken before retrenchment i.e. laying off.
Advance notice before changing office hours, holidays.
21 days notice before modifying wages, leaves, rest and work periods.
Q11: Procurement priority order was finalized for defense related expenditure. Which has highest priority
Indigenous design, developed and manufactured in India.
Foreign companies transfer technology to Indian firms and manufacture product in India.
Foreign made goods with no technology transferred to India.
Q12: Offset Threshold in D.P.P. - 2016
Threshold set to Rs 2000 crore. Foreign firms getting Indian defence contracts have to invest part of the tender amount in India as purchasing supplies from local vendors or investment.
This shall improve Balance of Payments of India and promote local manufacturing..
Q13: Start Up India
S.I.D.B.I became the agency for refinancing
Banks would give Rs 10000 crore worth credit to entrepreneurs
Each branch should give at least one loan to SC / ST; 1 loan to women and target greenfield non farm sectors. Loans amount between Rs 10 lakh to 1 crore.
Q14: Funds under S.I.D.B.I:
India Aspiration Fund: Venture Capital fund
SMILE - S.I.D.B.I Make in India Loan for Small Enterprises:Short term loans for 25 Make in India thrust sectors.
Q15: Benefits for Startups under start up India
Faster exit within 90 days in case of bankruptcy
National Credit Guarantee trust company
Venture capital fund for startups and incubators.
Q16: Benefits for Startups under Startup India
Capital gains tax exemption if selling personal property to invest.
Self certification for regulatory compliance of E.P.F., Environment
No Income tax for 3 years and no inspection for 3 years.
Q17: Benefits for Startups under Startup India
Relaxation in norms for startups in procurement against experienced companies.
80% rebate on patent application fee; Support in commercializing patents or I.P.R's;
Q18: Stand Up India
A scheme to promote setting up of greenfield enterprises in field of manufacturing, services and trading by entrepreneurs of SC, ST and Women
Launched by Dept of Financial Services.
Q19: Features of Startup India
Composite loans between Rs 10 lakh to Rs. 1 crore
Hand holding support
Credit guarantee support
Q20: Udyog Aadhar Number is created under
Ministry of finance
Q21: A Scheme for Promoting Innovation and Rural Entrepreneurs for rural and agro based industries by the M.S.M.E Ministry is
Q22: Self Employment and Talent Utilization scheme for incubation centers is
Q23: ATAL innovation centers
To support innovation and incubation
Engineering institutions also have grants upto Rs. 10 crore for incubation centers
Q24:Atal Pension Yojana
Minimum guaranteed pension of Rs. 1000 - Rs. 5000 to the subscriber after he completes age of 60 years.
Same pension shall be given to spouse after subscriber’s death.
Return of pension corpus to nominee after spouse’s death. Corpus shall be of Rs. 1.7 lac to Rs. 8.5 lac.
Q25:Venture Capital fund of SIDBI is
India Aspiration Fund
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