UPSC Economy MCQs - Agriculture, Industry and Infrastructure (Set 6)

Q1. Minimum Support Prices for crops in India are recommended by:

a) Food Corporation of India

b) NITI Aayog

c) Commission for Agricultural Costs and Prices

d) NABARD

Q2. The Commission for Agricultural Costs and Prices was originally set up in 1965 under the name:

a) Agricultural Prices Commission

b) Agricultural Marketing Board

c) National Agricultural Commission

d) Food Pricing Authority

Q3. Which cost concept used by the CACP includes paid-out costs, imputed value of family labour, imputed rent on owned land and interest on owned fixed capital?

a) A2

b) A2+FL

c) B1

d) C2

Q4. Since 2018-19, the government has fixed MSP for kharif and rabi crops at a level of at least:

a) 1.5 times the A2+FL cost of production

b) 2 times the C2 cost of production

c) Equal to the market price

d) 1.25 times the A2 cost

Q5. Agricultural Produce Market Committees (APMCs) are set up under:

a) Central laws enacted by Parliament

b) Laws enacted by state governments

c) RBI regulations

d) WTO agreements

Q6. Which of the following best describes e-NAM?

a) A crop insurance scheme

b) A soil health card portal

c) A pan-India electronic trading portal that links existing agricultural markets

d) A scheme to give direct cash transfers to farmers

Q7. Which of the following statements about the green revolution in India is correct?

a) In its early phase it benefited wheat much more than pulses

b) It began in the 1990s

c) It was concentrated mainly in eastern and north-eastern India

d) It did not depend on irrigation or fertilisers

Q8. The Industrial Policy Resolution of 1956 classified industries into:

a) Two lists: public and private

b) Three schedules, A, B and C, based on the role of the state

c) Five categories based on investment size

d) Industries for exports and imports

Q9. Which of the following was a feature of the New Industrial Policy of 1991?

a) Expansion of industrial licensing to all sectors

b) Nationalisation of private banks

c) Abolition of industrial licensing for all but a short list of industries

d) Ban on foreign direct investment

Q10. The Narasimham Committee of 1991 is best known for recommendations on reforms in which sector?

a) Banking and the financial sector

b) Agricultural marketing

c) Direct taxation

d) Industrial licensing for small industries

Q11. Since the 2020 revision, MSMEs in India are classified on the basis of:

a) Number of employees only

b) Investment in plant and machinery only, with separate limits for services

c) Annual profit

d) A composite criterion of investment in plant and machinery or equipment and annual turnover, common for manufacturing and services

Q12. Under the Hybrid Annuity Model (HAM) for highway projects, the government:

a) Provides 40 percent of the project cost during construction, and the developer arranges the rest

b) Provides the entire project cost upfront

c) Provides no funding and the developer collects tolls

d) Provides 100 percent funding after completion

Q13. In the Build-Own-Operate-Transfer (BOOT) model, the private partner:

a) Only designs the project and hands it over immediately

b) Builds, owns and operates the project for a concession period and then transfers it to the government

c) Only maintains a project already built by the government

d) Owns the project permanently with no transfer

Q14. In the Engineering, Procurement and Construction (EPC) model:

a) The private contractor bears the full financing cost

b) The project is owned by the contractor for 30 years

c) The contractor collects tolls to recover costs

d) The government finances the project and the contractor is paid to design and build it

Q15. Which of the following is NOT one of the eight core industries tracked by the Index of Eight Core Industries?

a) Cement

b) Fertilizers

c) Textiles

d) Steel