Railway GK Questions 2026

The Reserve Bank lowered the value of the rupee on 1 July and again on 3 July 1991 to make exports cheaper abroad, discourage imports and restore confidence in the currency during the crisis.

As Finance Minister in the government of P. V. Narasimha Rao he presented the budget of July 1991, which cut subsidies, reduced the fiscal deficit, lowered tariffs and set out the framework of the reforms, following the devaluation of the rupee earlier that month.

Liberalisation removed licensing and other controls on industry and trade, privatisation reduced the ownership and the role of the public sector through disinvestment and strategic sales, and globalisation opened the economy to foreign trade, investment and technology.

The Statement on Industrial Policy of that date ended licensing for all industries except a short reserved list, cut back the industries kept for the public sector, removed the requirement of prior government approval for expansion by large firms under the monopolies law, and allowed foreign direct investment up to…

Liberalisation means freeing economic activity from government controls: industrial licences, import licences and quantitative restrictions, ceilings on investment and administered interest rates.

He became Prime Minister in June 1991, in the middle of the balance of payments crisis, and his government devalued the rupee, borrowed from the International Monetary Fund and announced the New Economic Policy of liberalisation, privatisation and globalisation, with the Statement on Industrial Policy issued on 24 July 1991.

The works, begun in the time of the Mysore state and later named after Sir M. Visvesvaraya, lies on the Bhadra river and is remembered in geography as the plant that uses electricity generated from water power, along with charcoal from the nearby forests, because the region has no coking…

An agro-based industry uses a farm product as its raw material, and sugar is made from sugarcane, which is why the mills stand in the cane belts of Uttar Pradesh, Maharashtra, Karnataka and Tamil Nadu; cotton textiles, jute, vegetable oil, tea and paper from bagasse belong to the same class.

Because their raw material is light, valuable and easy to move, and because they need little power or water, such units are free of the usual pulls of ore, coal and bulky material; electronics, computer assembly, diamond cutting and software are the standard examples, and they depend mainly on skilled…

The city has a very large number of cotton textile mills and hosiery units, helped by cotton grown nearby, the hydel power of the Western Ghats and a long tradition of engineering workshops that make textile machinery, and so it is called the Manchester of South India, as Ahmedabad is…

Rishra stands on the Hugli near Kolkata, and the mill set up there in 1855 began an industry that is still packed into a narrow belt along that river.

The first successful cotton textile mill began work there in 1854, and the city had every advantage the industry needed: cotton from the black soil of the Deccan, a port through which machinery arrived, capital from its merchants, a humid climate that suited spinning, and workers from the surrounding districts.

The Tata Iron and Steel Company set up its works there in 1907, choosing the site because iron ore, coal, manganese and limestone all lay within a short distance in the Chota Nagpur region, water was available from the Subarnarekha and Kharkai rivers, and the railway ran to the port…

Rourkela stands in the Sundargarh district of Odisha, on the Brahmani river, and was built in the Second Five Year Plan with German collaboration; it drew iron ore from the Odisha deposits, coal from the Jharia belt and limestone from Purnapani.

Of the three integrated plants taken up in the Second Five Year Plan, Bhilai in what is now Chhattisgarh was built with Soviet help, and the later plant at Bokaro in Jharkhand came up with Soviet help as well, so the two Soviet plants are Bhilai and Bokaro.

An industrial city does not stand alone: the country around it supplies food for its workers, agricultural raw material such as cotton, cane, oilseed and jute for its mills, and labour from the villages, while the city in turn sells manufactured goods and services back to that countryside.

When industries gather at one urban centre, each of them can use the roads, railways, power lines, water supply, banks, insurance offices, skilled workers, component suppliers and repair workshops that the others have brought into being, and the saving in cost that follows from this sharing is called an agglomeration…

Ahmedabad is a very large cotton textile centre and is called the Manchester of India, but it is not the largest in the country; that place belongs to Mumbai, the old Cottonopolis, which grew first because of its port, its mills and its capital, and Maharashtra remains ahead of Gujarat…

The Payment and Settlement Systems Act, 2007 makes the Reserve Bank the designated authority for the regulation and supervision of payment systems in India; no person may commence or operate a payment system without its authorisation, and it issues the directions under which card networks, prepaid instruments and the retail…

The National Bank for Agriculture and Rural Development Act was passed in 1981 on the recommendation of the committee to review arrangements for institutional credit for agriculture and rural development, and NABARD itself was established on 12 July 1982 as the apex body for rural credit, refinancing cooperative banks and…