This Indian Economy quiz on Make in India, Startup India and the PLI Scheme puts 10 multiple-choice questions to you, the verified MCQs published with GK24's note on the topic. Every question carries a full explanation of why the correct option is right and why the other options are wrong, so you learn the fact behind the answer rather than the letter. Attempt it right after reading the note, keep to the timer, and use the explanations at the end to mark what needs another look. Sit it again before the exam as a quick revision of the topic.
10 questions with answers and explanations
The Make in India initiative was launched in which year?
Make in India was launched on 25 September 2014 as a national programme to make India a global hub of design and manufacturing, and it is implemented by the Department for Promotion of Industry and Internal Trade under the Ministry of Commerce and Industry.
Read the full explanation →Make in India and Startup India are both implemented by which department?
The correct answer is B, the Department for Promotion of Industry and Internal Trade, known as DPIIT, which works under the Ministry of Commerce and Industry and is the nodal department for both programmes; it also recognises startups and maintains the national single window system.
Read the full explanation →Under the Make in India programme, the share of manufacturing in India's gross domestic product was targeted to be raised to
The target declared for Make in India was to raise the share of manufacturing in gross domestic product to twenty-five per cent along with the creation of a large number of jobs; the deadline, first set for 2022, was later extended.
Read the full explanation →The Startup India Action Plan was launched on 16 January 2016. That date is now observed every year as
The government declared that 16 January, the day on which the Startup India Action Plan was released in 2016, would be celebrated as National Startup Day, and the National Startup Awards are associated with the same programme.
Read the full explanation →According to the definition used for recognition under Startup India, an entity may be treated as a startup for a period of up to
Under the definition notified for recognition by DPIIT, an entity qualifies as a startup for up to ten years from the date of its incorporation or registration, provided its turnover has not exceeded one hundred crore rupees in any financial year, it works towards innovation, development or improvement of products…
Read the full explanation →The Fund of Funds for Startups, set up with a corpus of Rs 10,000 crore, is operated by which institution?
The Fund of Funds for Startups was created in 2016 with a corpus of ten thousand crore rupees and is operated by SIDBI, which does not invest directly in startups but puts money into alternative investment funds registered with the Securities and Exchange Board of India, and those funds in…
Read the full explanation →The incentive under the Production Linked Incentive scheme is calculated on
This output-linked design is what distinguishes the PLI scheme from older industrial subsidies: a selected manufacturer receives an incentive, usually a percentage of the additional sales of eligible goods made in India, for a fixed number of years, so the payment follows production and sales actually achieved.
Read the full explanation →The first Production Linked Incentive scheme, notified in 2020, was for which sector?
The first PLI scheme was notified in 2020 for large-scale electronics manufacturing, with mobile phones and specified electronic components as its targets, and it was followed by schemes for pharmaceutical ingredients and medical devices in the same year.
Read the full explanation →Which section of the Income Tax Act provides a tax deduction of profits to eligible startups for three consecutive years out of the first ten years?
It allows an eligible startup, recognised for the purpose and incorporated within the prescribed window, a deduction of one hundred per cent of the profits and gains from its business for three consecutive assessment years out of its first ten years, subject to conditions, and it must be claimed with…
Read the full explanation →The emblem of the Make in India initiative is a striding lion made of
The logo of Make in India is a lion in mid-stride, drawn out of cogwheels or gears, the gears standing for manufacturing and industry and the lion for courage and strength; it is derived from the Ashoka emblem in spirit and was unveiled with the programme in September 2014.
Read the full explanation →