Indian Economy

Indian Economy : Fast Quiz Posted: 18 Jul 2009 01:33 AM PDT Print Version given at the end of this Fast Quiz 1.When was Varsha Bima introduced? 2.For which kind of fertilizers India is totally dependent on Imports? 3.Through which Bank Rural Knowledge Centers are being established? 4.In which state Rural Business Hub scheme was launched ? 5.Which act makes a different category for Medium Enterprises ? 6.Nayak Committee was constituted for which purpose? 7.What is the ceiling of Foreign Direct Investment in Defense Sector? 8.At present how many companies are listed in Navratna & Miniratna categories? 9.In which year Small Industries Development Organization SIDO was established? 10.Where was established the first ever Diesel Engine Factory and when? 11.Where was established the first Cycle making factory in India? 12.What is India's share in global carpet exports 13.In which state maximum Jute mills are in India ? 14.In which Budget Village in Wheels was proposed to boost rural tourism? 15.Which two countries are India's largest foreign trade partners? 16.In which year Rail Vikas Nigam Ltd was established ? 17.What is India's rank in Bauxite Resources for Aluminum? 18.What is India's Rank in world in Coal Deposits? 19.Which area is India's main Diamond bearing area? 20.Kolar & Hutti in Karnataka & Ramgiri in Andhra Pradesh is famous for which ore? 21.Which is the largest producer state of graphite in India? 22.What is India's rank in Mica sheet production?

23.Where is located the Center for Wind Energy Technology ? 24.In which year National Commission on Population was established? 25.Which is the nodal agency in India that undertakes the procurement. Distribution & storage of food grains in India? You may download print version of this compendium here Quiz Answers may not work in email posts. Please Click on the title of quiz to arrive at the site.

Quiz 159: Indian Polity & Constitution (For Civil Services Exam) Posted: 17 Jul 2009 10:06 PM PDT 1.Which among the following are included in nagar panchayat? (A)Notified Area Committee only (B)Town Area Committee only (C)Both Notified Area Committee & Town Area Committee 2.Which of the following articles is related to amendment of the Indian Constitution? (A)article 320 (B)article 368 (C)article 358 3.Which of the following states in India established Panchayati Raj in 1956? (A)Rajasthan & Maharastra (B)Rajasthan & Andhra Pradesh (C)Rajasthan Only 4.Among Sindhi, Sanskrit, Kashmiri & Urdu which are the languages that are in VIII schedule of the Indian Constitution but not official language of any state in India? (A) Sindhi, Sanskrit, (B)Sindhi, Sanskrit, Kashmiri (C)Sanskrit only 5.In which year National Commission for Minorities was established? (A)1990 (B)1989 (C)1992 6.A political party in India acquires the status of registered party if it secures what fraction of votes in a state? (A)1% (B)2% (C)3% 7.The power to decide an election petition in India is vested in the ________ ? (A)Parliament

(B)Supreme Court (C)Administrative Tribunal 8.Which among the following are not given a right to cast their vote by postal ballot? (A)Foreign Service Personnel while at abroad & Officers on Election duty (B)Members of the Armed Forces (C)Indian Nationals settled abroad 9.Which of the following funds in charged for the salary and other allowances of the Judges of the High Courts? (A)Consolidated Fund of India (B)Consolidated Fund of State (C)both of them in 1:1 ratio 10.Supreme Court of India was created by _________? (A)Constitution (B)an Act of Parliament (C)a Presidential Order 11.In 1965, the head of Jammu & Kashmir was regurgitated as Governor previously called as _________? (A)Premier (B)Vajeer-i-aalam (C)Sadr -i-riyasat 12.Which among the following statements regarding the legislative powers of the state council of ministers is wrong? (A)The council of ministers can summon and prorogue the session of either of both the houses of legislature (B)The council of ministers can determine the business and timetable of the state legislature (C)The council of ministers can introduce the important bills in the state legislature 13.In the parliament terminology, what is the meaning of "Closure"? (A)end of session of parliament (B)end of proceedings of a day (C)end of debate on a motion 14.Section 28 A of the Representation of the People Act provides for registration of Political parties by the election commission of India. This act was enacted in which year ? (A)1949 (B)1951 (C)1955 15.Which among the following is not a National party ? (A)Bahujan samaj Party (B)Communist Party of India (C)Dravida Munetra kadgam DMK

16.Which of the following has more than One seat in Lok Sabha? (A)Nagaland (B)Tripura (C)Sikkim 17.Article 326 of Indian Constitution originally granted electoral franchise to every Indian Citizen who has not been declared a bankrupt, criminal, insane, or a non resident and has attained age of ____________? (A)18 years (B)20 years (C)21 years 18." There shall be a President of India" which article says this? (A)Article 52 (B)Article 53 (C)Article 55 19.No amount from the "Consolidated Fund of India" can be withdrawn without the authorization from _________? (A)President of India (B)Parliament of India (C)Comptroller & Auditor General of India 20.The " Contingency Fund of India" was constituted by an act called " Contingency Fund of India Act ___________? (A)1950 (B)1959 (C)1960 Quiz Answers may not work in email posts. Please Click on the title of quiz to arrive at the site.

India's Cotton & Textile Industry : Main Points Posted: 14 Jul 2009 09:56 PM PDT Related Post: Textile Budget & Union Budget 2009-10 India's textile and clothing industry contributes 4% per cent to Gross Domestic Product, 14 per cent in industrial production and 12 per cent in export earnings. It is the second largest industry providing employment after agriculture. It provides employment to around 35 million people. First Cotton Mills: The first Indian cotton cloth mill was established in 1818 at Fort Gloaster near Kolkata, albeit this mill was a failure. The second mill which was established by KGN Daber in 1854 is called the true foundation of modern cotton industry in India. Its name was Bombay Spinning and weaving Company, Bombay. Bad Effects of Partition: Partition of India in 1947 affected Indian cotton industry badly. Most of the weavers who were Muslims migrated to Pakistan. There were 394 cotton

mills in India before partition , out of this 14 mills went to Pakistan. Remaining 380 mills which were left in India. However 40 % cotton producing area became area of Pakistan. Thus India was forced to import raw cotton to keep the mills alive. Development Starts: Till the year 1985, development of textile sector in India took place in terms of general policies. In 1985, for the first time the importance of textile sector was recognized and a separate policy statement was announced with regard to development of textile sector. In 1993, Govt. of India made this industry license free by its Textile Development and regulation Order 1993. Cotton Association of India: Cotton Association of India was established in the year 1921 with a view to facilitate cotton trade and regulate cotton futures in Mumbai. Since then, CAI has been playing a pivotal role in development and promotion of cotton across India. In 1952, CAI was granted permanent recognition for conducting futures trading in cotton throughout India. Formerly known as East India Cotton Association, it was redesignated as Cotton Association of India in August 2007. Cotton Price Index : Cotton Price Index was launched by Cotton Association of India on the lines of ICE futures in US and Cotlook in UK. It will be an independent index of cotton prices in india. Leading States: In India the cotton and man made fibre industry is concentrated mainly in Maharastra, Tamil nadu and Gujarat. Main Competitors of India: The main competitors of India in the textile exports are China, Pakistan & Bangladesh. Meera Seth Committee was related to development of Handloom sector which submitted its report in 1997. This committee recommended the establishment of national handloom fund of Rs. 500 crore. TUFS: The Government of India (GOI), Ministry of Textiles (MOT), introduced Technology Upgrdation Fund Scheme (TUFS) for Textile and Jute Industries on April 1, 1999, for a period of 5 years, subsequently extended by 3 years to cover sanctions up to March 31, 2007. The Budget for FY 2007-08 has announced further extension of the Scheme by five years i.e to last til, FY 2011-12. Post-extension, the Scheme is under revision and sanctions w.e.f April 1, 2007, have been kept in abeyance under TUFS. Rs. 3140 crore have been alloted in Union Budget 2009-10 for this scheme. The Scheme is intended to facililate induction of state-of-the-art or near state-of-the-art technology. Existing units with or without expansion and new units are eligible under TUFS. Scheme for Integrated Textile Park (SITP): To provide the industry with world-class infrastructure facilities for setting up their textile units, the Scheme for Integrated Textile Park (SITP) was approved in July 2005 to create new textile parks of international standards at potential growth centres. As per the target for the 10th Five Year Plan, 30 Textiles projects have been approved. There has been overwhelming response to the scheme. Taking into consideration the response to the scheme and the opportunities for the growth of textile industry in the quota free regime, the Government of India have decided to continue the SITP in the 11th Five Year Plan. This will facilitate additional investment, employment generation and increase in textiles production. In the Union Budget 2009-10 , Rs. 397 crore were provided for this scheme.

National Textile Policy : In the year 2000, National Textile Policy was announced. Its main objective was: to provide cloth of acceptable quality at reasonable prices for the vast majority of the population of the country, to increasingly contribute to the provision of sustainable employment and the economic growth of the nation; and to compete with confidence for an increasing share of the global market. The policy also aimed at achieving the target of textile and apparel exports of US $ 50 billion by 2010 of which the share of garments will be US $ 25 billion. Strengths of Indian textile Industry: India has rich resources of raw materials of textile industry. Technology Mission on Cotton: In order to consolidate the strength in raw material especially the cotton sector and to remove contamination, the Government had set up the Technology Mission on Cotton (TMC) on 20th February 2000. The Mission, consisting of four Mini-Missions, was intended to run for a 5-year term, commencing from 19992000. It has since been extended by 3 years to cover the entire Tenth Plan period, ending with 2006-07 Some important Schemes for Handloom Development: Deen Dayal Hathkargha Protsahan Yojna , Workshed cum housing scheme , Weavers welfare Scheme , Health Insurance Scheme for handloom weavers , The Mahatma Gandhi Bunkar Bima Yojna , The integrated Handloom Cluster development Scheme Apparel Export Promotion Council: AEPC was incorporated 1978 and is the official body of apparel exporters in India that provides invaluable assistance to Indian exporters as well as importers/international buyers who choose India as their preferred sourcing destination for garments. Sponsored by the Ministry of Textiles to monitor garment exports and quotas APEC also provides online trading, news, quota circulars, EXIM. Over the last 25 years, the council has been continuously involved in the task of promoting exports by organising buyerseller meets, leading trade delegations to potential markets globally, participating in specialized international fairs, organising the India International Garment Fair biannually, and organizing seminars on fashion and workshops on technical aspects of the industry Twice a year, AEPC showcases the best of India's garment export capabilities through the prestigious India International Garment Fair, playing host to over 350 exhibitors displaying the exotic, the haute, the prêt, the contemporary and much more. Decade of manufacturing: The decade 2006-2015 is the decade of manufacturing for India. The National Manufacturing Competitive Council (NMCC) has emphasized on the need for focused attention to the specified sectors of the manufacturing which are labor intensive and also enjoy competitive advantage. The textile and clothing industry is identified as one such sector. The Working Group has suggested a plan of action including higher plan outlay to enable this industry to realize its full potential during this Plan period. Objectives of the Eleventh Plan for Textile Industry : 1. Build up world class state-of-the-art manufacturing capacities to attain and sustain predominant global standing in manufacture and export of textiles and clothing. 2. Facilitate Indian textile industry to grow at the rate of 16 percent in value terms to reach level of US$ 115 billion (comprising of US$ 55 billion of exports and US$ 60 billion of domestic market). 3. Attain the 7 percent share in global textile trade by the terminal year of the Plan period.

India's Textile Industry & Union Budget Posted: 14 Jul 2009 09:56 PM PDT India's textile and clothing industry contributes 4% per cent to Gross Domestic Product, 14 per cent in industrial production and 12 per cent in export earnings. It is the second largest industry providing employment after agriculture. India's textile and clothing exports dipped by about two per cent in 2008-09 to around $22 billion due to the global slump in demand. Union Budget Proposals: Central Pan outlay enhanced to Rs 4500 crore from Rs 4092 crore. Out of this Technology Upgradation Fund Scheme (TUFS) provided Rs 3140 cr Scheme for Integrated Textile Park SITP provided of Rs 397 crore Rs 340 cr for Handloom Rs 220 cr for Handicrafts Schemes. Setting up of 5 Mega clusters: • West Bengal: one Handloom mega cluster • Tamilnadu : one handloom mega cluster • Rajasthan : one Power loom Mega cluster. • J & K : one Carpets Mega cluster • Mirzapur UP : one carpet Mega Cluster These mega clusters, when operationalised, will generate employment for 50,000 people and attract an investment of approx. Rs.1,400 crore. Note: Two handloom mega clusters at Varanasi and Sibsagar and two mega powerloom clusters at Erode and Bhiwandi were approved in the last Budget that are under successful implementation Taxes Benefits to Exporters: Adjustment Assistance Scheme to provide enhanced Export Credit and Guarantee Corporation cover at 95% - extended up to March 2010 Allocation for Market Development Assistance Scheme enhanced toRs. 124 crore. Interest subvention of 2% on pre-shipment credit extended beyond current deadline of 30th September, 2009 to March 31, 2010 Sun-set clauses for deduction in respect of export profits under sections 10A and 10B of Income Tax Act extended by one more year Fringe Benefit Tax to be abolished Custom Duty : Custom Duty on Cotton waste and wool waste to be reduced from 15% to 10% Excise Duty : Excise Duty on man made fibre and yarn to be increased from 4% to 8%. An optional excise duty exemption to be provided to tops of manmade fibre manufactured from duty paid tow at part with tops manufactured from duty paid staple fibre.

Vocab Practice Quiz 12 Posted: 14 Jul 2009 09:56 PM PDT Each question presents a sentence with a word or phrase in bold. Find the word or phrase which is similar in meaning to the word in bold. 1.Love remained serene in the midst of turbulence. (A)Meak (B)Calm (C)Solemn 2.75 % attendance is obligatory in the classroom. (A)useful (B)required (C)safe 3.After making some quick money Robert did an impetuous display of spending and gambling. (A)violent (B)resourceful (C)rash 4.Zimbabwe, now a days is a moribund economy. (A)Vibrant (B)Stagnant (C)Superfluous 5.This is an attack on our country and we all bemoan this hostile action. (A)denounce (B)hate (C)lament 6.Guys ! Get busy--don't dawdle !" (A)Loiter (B)Enjoy (C)Evaluate 7.Pivotal location of Himalayas has also defended our country to periodic invasions" (A)Internal (B)Crucial (C)Immovable 8.Before we make a judgement, it would be a good idea to see obverse of this problem. (A)details (B)opposite (C)adverse 9.Being an atheist , he never visited a church. He abnegated Jesus. (A)self denial (B)hate (C)detest

10.The convict was a close relative of an affluent politician of the locality. (A)criminal (B)corrupt (C)prosperous