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Indian EconomyHard

The first Production Linked Incentive scheme, notified in 2020, was for which sector?

  1. A.Speciality steel
  2. B.Textile products
  3. C.Large-scale electronics manufacturing
  4. D.Food processing

Correct answer

C. Large-scale electronics manufacturing

Explanation

The correct answer is C, large-scale electronics manufacturing. 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. Options A, B and D are wrong because speciality steel, textile products and food products were among the sectors added later, when the scheme was extended to fourteen sectors with a total outlay of about 1.97 lakh crore rupees announced in the Union Budget for 2021-22. Candidates should be able to name the fourteen sectors broadly, and should remember that each scheme is administered by the ministry of the sector concerned, such as the Department of Pharmaceuticals or the Ministry of Textiles, and not by a single department.

Read the full article: Make in India, Startup India and PLI Scheme Notes

Practice Questions

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Q2.Indian EconomyMedium

Make in India and Startup India are both implemented by which department?

  1. A.Department of Economic Affairs
  2. B.Department for Promotion of Industry and Internal Trade
  3. C.Department of Revenue
  4. D.Department of Financial Services
Show answer
Correct answer: B. Department for Promotion of Industry and Internal Trade

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.

Q3.Indian EconomyMedium

Under the Make in India programme, the share of manufacturing in India's gross domestic product was targeted to be raised to

  1. A.15 per cent
  2. B.20 per cent
  3. C.25 per cent
  4. D.35 per cent
Show answer
Correct answer: C. 25 per cent

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.

Q4.Indian EconomyMedium

The Startup India Action Plan was launched on 16 January 2016. That date is now observed every year as

  1. A.National Entrepreneurship Day
  2. B.National Startup Day
  3. C.National MSME Day
  4. D.National Industry Day
Show answer
Correct answer: B. National Startup Day

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.

Q5.Indian EconomyHard

According to the definition used for recognition under Startup India, an entity may be treated as a startup for a period of up to

  1. A.Five years from incorporation
  2. B.Seven years from incorporation
  3. C.Ten years from incorporation
  4. D.Fifteen years from incorporation
Show answer
Correct answer: C. Ten years from incorporation

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…