Explore topic-wise InterviewSolutions in Current Affairs.

A. Warren Hastings

Correct option is (b) Non-programmed.

A. Tipu Sultan

Correct option is (d) Government policies

Correct option is (a) Business Level

Correct option is (d) Growth.

The first Governor-General of India was Warren Hastings. After him, Cornwallis, Sir John Shore, Wellesley, Hastings, William, Bentinck and Dalhousie became the Governor Generals of India.

Correct option is (c) Focus.

Micro small scale business is classified as Manufacturing sector and Services Sector. According to MSMED, Micro Manufacturing sector does not exceed Rs 25 lakhs and Micro Services sector does not exceed Rs 10 lakhs.

Correct option is (a) Interpersonal skills.

B. Dalhousie

Correct Answer is True

Correct Answer is False

Correct Answer is Primary Industry

Correct option is (d) Leader-member relations.

According to MSMED on the basis of investment Micro Service Sector ‘does not exceed Rs 10 lakhs’, Small Service Sector, ‘more than 10 lakhs but does not exceed 2 crores’ and Medium Service Sector ‘more than Rs 2 crores but does not exceed Rs 5 crores’.

1. The production of Small Scale Industries is less.

2. General unskilled labours are employed. 

3. As production is less raw material requirement is also less. 

4. In a place like India, where capital formation is low, small business is suitable. 

5. Due to small in size, such form of business can easily adapt to changing atmosphere. This promotes flexibility. It can easily change their working style without much loss as compared to large businesses. 

6. Thus, SSI requires less amount of capital.

Advantages of Small Scale Industries: 

1. Large Employment 

2. Less Capital Requirement 

3. Contribution to Export 

4. Opportunities for Entrepreneurship

1. Large Employment: Small Scale Industries has huge potential to create employment opportunities. They are labour intensive and use more labour than other factors of production. Their gestation period is also low and can provide employment opportunities to large number of people. 

2. Less Capital Requirement : SSI requires less capital as compared to large scale industries. SSI can be started by small entrepreneurs with limited capital resources. 

3. Contribution to Export : Nearly 40% of the industrial exports are contributed by SSI. Product such as hosiery, knitwear, gems and jewellery, handicraft, coir products, woolen garments, processed food, chemical and allied products and a large number of engineering goods contribute substantially to India’s exports. Products produced by SSI are used in the manufacturing of products by large scale industries which are exported. It contributes directly and indirectly to exports and helps to earn valuable foreign exchange. 

4. Opportunities for Entrepreneurship : Small Scale Industries provide opportunities for entrepreneurs with limited capital as it requires less capital and lower investment in technology and machines as compared to large scale enterprises. Therefore, small entrepreneurs can start small scale industries easily.

1. During ancient time, India has enjoyed an incomparable position in the whole world due to its economic, cultural and religious inheritance
2. Due to this people of different nations of the world came to India.
3. There was lots of demand for the Indian spices, muslin, silk cloth, indigo, etc. in the European countries.
4. Trade between India and Europe was carried out through land route and sea route and at the center of these routes was Istanbul in Turkey.
5. Turkish Muslims closed this route for Europeans as the conquered the Istanbul (Constantinople)in 1453.
6. Since they could not do without the spices, the Europeans felt compelled to discover a new sea route.

Correct Answer is Secondary industry

Bicycle Parts, Sewing Machines, Blades, Razors, Electric Appliances, Spare Parts are examples of Modern Small Scale Industries.

Hand-loom, Handicraft, Coir, Sericulture, Khadi and Village Industries are the examples of Traditional Small Scale Industries.

Correct option is (b) extractive

Primary industries are those industries which depend on nature for production. Primary industries are of three types which are given below.

1. Agriculture industry: Agriculture includes cultivation of land. It is an important primary sector industry. 

2. Extractive industry : Extractive industry draws out the produce from natural resources like land, river or sea etc. The products extracted are usually in raw form they are converted into finished products and sold in the market. 

3. Genetic industry : Genetic industries are engaged in the reproduction and multiplication of plants and animals e.g. poultry, plant nursery, etc.

Commerce is a part of business activity which is concerned with the distribution of goods and services.

Correct option is (a) Cybernetic control system

Correct option is (d) Controlling

Correct Answer is Trekking

The reward for profession is called fees.

Profession is that part of an economic activity under which a person uses his knowledge and special skill to give service by charging certain fees.

Correct Answer is False

1. It came into existence on 12th July, 1982 under the special Act of Parliament It is counted as an apex institution for agricultural finance.

2. The main objective of NABARD is to provide and regulate credit and other facilities for the promotion of agriculture, small scale industries, cottage and village industries, etc. 

3. It provides refinancing facilities to State Co-operative Bank (SCBs), Land Development Bank (LDBs), Regional Rural Banks (RRBs) and other approved financial institutions.

NABARD monitors the flow of Rural Credit in India

1. IDBI

2. Recommendations to RBI

Industry which depends upon nature for production is called primary industry.

Any Industrial Unit is regarded as Small Scale Industry, if the following condition is satisfied. “Investment in fixed assets like plant and equipment either held on ownership terms or on lease or hire purchase should not be more than Rupees one crore. However, the unit in no way can be owned or controlled or auxiliary for any other industrial unit.

(i) SIDBI Startup Mitra,

(ii) NABARD

(iii) Dr. Muhammad Yunus

(iv) World Bank

SHG – Bank Linkage programme was initiated by NABARD since 1992.

(a) Selection of a product 

(b) Selection of a place 

(c) Selection of technology 

(d) Business proposal

The two digital initiatives launched by SIDBI are – SIDBI start-up Mitra and Udyami Mitra.

1. Small Industrial Development Bank of India (SIDBI) was established on 2nd April, 1990. 

2. At present, the ownership of SIDBI is held by 34 public sector institutes. 

3. Main focus of SIDBI is to resolve the financial and non-financial hurdles of MSMEs. 

4. SIDBI helps for technological upgradation and modernisation of existing MSMEs.

1. Memorandum of Understanding (MoU)

2. Dr. Muhammad Yunus

The wider objectives of KVIC is creating self-reliance amongst the poor.

The economic objective of KVIC is producing saleable articles.

Reward for employment is salary or wages.

Industry which depends upon primary industry for production is called secondary industry.

Role of NABARD in financing rural industries:

1. It plays an important role in providing refinance to small scale industries and other village and cottage industries. 

2. It provides loans to commercial and cooperative banks to promote rural employment. 

3. It organizes skill and entrepreneurship development programmes to promote an entrepreneurial culture among the rural youth and encourage them to start enterprises in the rural areas.

(i) Profession cannot be transferred to other person.

(ii) Capital is required for business.

(iii) Transport creates place utility.

(iv) Industry represents supply side of market.

(i) (b) unemployment

(ii) (a) labour

(iii) (a) Higher

(iv) (a) business