Explore topic-wise InterviewSolutions in Current Affairs.

Correct option is B) 84. 2%

Economic problem.

India began many initiatives to promote industrial activities after 1947

A) nearly 2 lakhs

Since independence, the electricity production has increased 100 times.

Correct option is C) 84.2

The exchange rate quoted in the forward transaction is known as the forward exchange rate.

Balance of payment is an accounting statement that provides a systematic record of all the economic transactions between the residents of a country and the rest of the world during a given period of time.

Accommodating items.

The transactions of current account of BOP are:

(i) Export and import of goods

(ii) Export and import of services

(iii) Unilateral transfers.

All the classical economists believed that the ultimate purpose of human economic activity is to earn money.

J.B.Say and Walker agreed with Adam Smith’s ideas.

• Iron is used in making steel, machinery, tools and weapons. 
• Iron is also used in shipbuilding industry. 
• Iron is also used for many other purposes in constructions and transport.

“Economics is the science of wealth.”

The public expenditure plays a vital role in developing countries like India. It has several effects on income, output and employment. Therefore, it is regarded as a very essential instrument in the determination of economic development of a country. In developing countries, the increased public expenditure is always desirable. 

The importance of public expenditure in any country is as follows:

• The Government needs to fill deflationary gap (excess of output over consumption) and to restore full employment. 
• The Government expenditure is needed to development infrastructural facilities like roads, railways, bridges, irrigation facilities etc. 
• The Government is also expected to spend on civil administration. 
• The Government has to improve agricultural sector by providing subsidies. 
• For both internal and external securities the Government has to incur expenditure on law and order and defence forces.

Thus the role of public expenditure in overall development of an economy is very much needed for rapid economic development of a country.

Ahmedabad, Vadodara, Surat, Rajkot and Porbandar.

1. Nirman Cements Ltd – Bihar. 

2. Grasim Cements Ltd – Madhya Pradesh 

3. Sagar Cements – Telangana 

4. The India Cements Ltd – Tamilnadu

Industries produce a large variety of goods, generate employment and earn foreign exchange.

RTE law declares that all children of the age of 6 to 14 years have the right to free education and the state has to ensure building of sufficient schools in the neighbourhood of all children, appoint properly qualified teachers and make all necessary provisions. It also declares that the education should ensure all round development of the children, learning through activities, discovery and exploration and child friendly manner. It also states that children should be taught in their mother tongue and they should be free of fear, trauma and anxiety and be able to express their views freely. 

In case free neighbourhood schools are not available, in case sufficient number of teachers are not available in the schools, or sufficient teaching learning materials are not available, or if a child is beaten or terrorised, or forced to study in unfriendly manner, such children can complain to the courts against the authorities. So it is a boon to the children.

• “Basic” means the things that are basically necessary.
• The basic necessities for setting up any industries are machines, electricity, minerals and ores and infrastructural facilities like transport, telephone, etc.

Colonial rule: Under British rule. (During the middle age the European countries occupied much of African and Asian countries and established their trading centers or colonies. We were under the colonial rule of the British)

I have seen a welding factory. Machines in the factory are : 

1. arc welding 

2. resistance welding 

3. laser welding 

4. electron bean welding 

5. stud welding 

6. orbital welding 

7. wave soldering 

8. hot dip brazing 

9. torch brazing

10. indution brazing 

11. ultrasonic 

12. friction welding

I ask the following information: 

1. Strength of the school 

2. Staff particulars 

3. Syllabus and teaching-related issues etc.

In industrial sector, the raw materials are worked upon by people and changed using tools and machines to produce a good that can be useful. 

The importance of industries : 

i) Industries provide a wide range of products : 

There are plenty of goods made in factories. Ranging from paper and other stationery, fridges to cars, batteries, bulbs and other electrical appliances.

ii) Industries are expected to employ a large section of people looking for jobs : 

1. Generating employment to work in factories is generally considered as one of the indicators of development and improvement of well being of people. 

2. Employment in industries has increased from 11% in 1972-73 to 22% in 2009-10.

iii) Industries are important source of export incomes: 

1. We earn a lot of foreign exchange by selling industrial goods to foreign countries. 

2. Even today, nearly two-thirds of goods exported is contributed by industries.

To construct a road or to build a house, the owners will call tenders from the contractors. They select and appoint the contractor who quoted least price. The contractors should follow the norms in the construction.

1. What kind of cement is to be used? 

2. What is the ratio of cement and sand …? 

3. What is the measurement of the brick? etc….

All these should be decided and should be mentioned in a book. They should record the figures of coolies, their wages etc. The owner of the construction observes these things and the construction.

If he is satisfied, he pays the amount in installments.

If it is government construction, the government engineer observes all these things.

Right to Information laws, or “Sunshine” laws as they are commonly called grant citizens the legal right to access information held by their governments, bringing much-needed transparency in the otherwise opaque functioning of government. 

The law is increasingly being used to tackle high profile corruption also. The transparency will automatically limit the abuse of discretion, and thus acts as the check on corruption in any regime. So I can say that the Right to Information Act helps to face corruption.

Cement manufacturing units can be established near the areas where the raw materials are available in bulk. 

Raw materials : Limestone, silica, alumina, gypsum, coal and electric power and transportation facilities.

C) 1904-Chennai

Infrastructure facilities: Building of roads, good transport facilities such as roadways, railways. waterways and airways. provision of power supply, development of telephone lines, etc. are known as infrastructure facilities.

Cement manufacturing units can be established near the areas where the raw materials are available in bulk.

Raw materials :

Limestone, silica, alumina, gypsum, coal and electric power and transportation facilities.

(C) More accountability to the governments

Answer is (D) 2005

• Building of roads, good transport facilities, power supply and telephone connections, etc. can be termed as infrastructural facilities.
• Factories need raw materials. These raw materials are to be transported to the factory sites. Hence good road ways and other facilities are needed. 
• Factories need power to run machines. Hence all infrastructure facilities are needed.

A group of people in Rajasthan, organised themselves under the banner of Mazdoor Kisan Shakti Sangathan (MKSS) and demanded information. There was no legal provision to get the details of information as mentioned in the above paragraph from government to the people. Initially, these documents were collected with the help of officials. People evaluated these documents through public meetings. Soon officials began to resist the idea of disclosing the information. This led to a people’s movement.

a) True 

b) False 

c) False 

d)True 

Correct of false statements : 

b) People and the elected representatives should monitor the implementation of programmes. 

c) Information officers cannot withhold the information for indefinite period. It should be given in the prescribed time.

1. Services rendered by different people in a specified activity are known as service activities. 

E.g.: 

a) Teachers’ Services. 

b) Health and Medical Services rendered by doctors and para-medical staff.

c) Services of people working in army, navy, and air force. 

d) Financial activities of banks and insurance companies. 

e) Trading activities, etc. All the above services can be termed as Service Activities. 

2. Service activities do not produce any tangible commodity like paddy or cloth. 

3. Service activities here refer to ‘the nature of work” done. 

4. “Service activities” in this context of work does not mean something that is done “free of cost” or “out of love or devotion.” 

5. All the above people earn money by rendering these “service activities.” This is their livelihood. 

6. These service activities are required for agriculture and industrial activities.

Checking the information creates a fear and compulsory morality in the supervisors or other officials. So it improves accountability.

If the State Information Commission has relations with the Legislature or the Executive it cannot question or control the corruption. It cannot provide the information to the people. So it should be ‘independent’. So the word is important.

Human Rights: All human beings, irrespective of who they are, – their caste, gender, religion, country, etc., whether they are law-abiding or criminals have certain basic rights which cannot be denied to them.

After going through this lesson, I came to understand that rights have responsibilities. My country is fulfilling my needs. So I do not need any more rights. I try to safeguard the existing rights.

As per Banking Regulation act of 1949, “RBI has the power to adopt and implement various credit control measures to achieve objectives like proper regulation of volume of credit and prices. 

Different quantitative measures implemented by RBI are as follows:

(a) Bank Rate Policy: It is the standard rate at which RBI is prepared to buy or re-discount bills of exchange or commercial papers eligible for purchase according to the banking regulation act. It is the rate at which RBI extents advances to commercial banks. This influences the lending rates of commercial banks. Earlier in 1991 the rate was 12% and as on 2005, it was 6% and it was 5.5% in 2008.

(b) Open Market Operations: It refers to purchase and sale of various assets like gold, Government securities, foreign exchange, etc by RBI. The expansion and control of supply of money is done by “Open market operations”. RBI purchases securities during deflation arid sells them during inflation.

(c) Variable reserve requirements: As per the banking regulation act, every bank has to keep certain percentage of its total deposits with RBI in the form of reserve fund. By changing the ratio (increase or decrease) of these reserves, RBI can controlthe credit power of banks.

These variable requirements are of two types. They are Cash reserve ratio (CRR) and Statutory liquidity ratio (SLR): 

(i) Cash reserve ratio (CRR): It is the portion of total deposits of the commercial banks . which they have to keep with RBI in the form known as cash reserves. At present CRR is at 5% as of 21^st January 2005.

(ii) Statutory liquidity ratio (SLR): It is the portion of total deposits of commercial banks which they have to keep with themselves and these deposits must not be Used for credit purpose. In other words, SLR refers to that portion of total deposits which a commercial bank has to keep with itself in the form of liquid assets viz., cash, gold or approved Government securities. The SLR has been reduced to 25% on the entire net demand. This is as per the recommendations of Narasimham committee.

Correct option is C) OBC

1. D) Limestone

2. D) Slate Pencils

3. C) Mica

Answer is (C) Bauxite

• India is the developing country, the process of development is a little bit slow than other developed countries. 
• Economy plays a vital role in the development of India economy is good but not best.
• The steel industry has limited factories in our country. 
• The production is also limited. So the per capita consumption of steel is low in India.

Foreign exchange: Foreign exchange is used to refer to foreign currency that is obtained through a foreign exchange system.

Answer is (C) 2002

(A) Gopalakrishna Gokhale

(C) Both A & B

Answer is (A) Gokhale