General Knowledge for SSC Exams (Public Sector Steel Plants)
||Acquired from Private Sector in 1976
|Salem (Tamil Nadu)
|Vijai Nagar (Karnataka)
||Nationalization of Vishveshvarayya Iron & Steel Ltd.
(Owned by Central and State Govt.)
- All these are managed by SAIL. (At present all important steel plants
except TISCO, are under Public Sector
- Steel Authority of India Limited (SAIL) was established in 1974 and was
made responsible for the development of the Steel Industry. Bhilai, Durgapur
and Rourkela were established during the Second Five Year Plan. Bokaro was
established during the Third while the steel plants at Salem; Vijai Nagar
- and Vishakhapatnam were established in the Fourth Five Year Plan.
Presently India is the 8th largest steel producing country in the world.
2. Jute Industry
- Jute industry is an important industry for a country like India, because
not only does it earn foreign exchange but also provides substantial
employment opportunities in agriculture and industrial sectors.
- Its first modernized industrial unit was established at Reshra in West
Bengal in 1855.
The jute industry in the country is traditionally export oriented. India
ranks number one in raw jute and jute goods production and number two in
export of jute goods in the world.
3. Cotton and Textile Industry
- Oldest industry of India, and employs largest number of workers.
- It is the largest organized and broad-based industry which accounts for
about 4 per cent of GDP, 20 percent of manufacturing value added and
one-third of total export earnings.
- The first Indian modernized cotton cloth mill was established in 1818 at
Fort Gloaster near Kolkata but this mill was not successful. The second mill
named ‘Bombay Spinning and Weaving Co.’ was established in 1854 at Bombay by
4. Sugar Industry
- Sugar industry is the second largest industry after cotton textile
industry among agriculture based industries in the country.
- There are more than 500 installed sugar factories in the country. This
industry provides not only employment to a substantial number of persons but
also holds the potentialities of developing other industries related to its
- India is now the largest producer and consumer of sugar in the world.
Maharas-htra contributes over one-third of the total sugar output, followed
closely by UP.
5. Fertilizer Industry
- India is the third largest producer of nitrogenous fertilizers in the
6. Paper Industry
- The first mechanized paper mill was set-up in 1812 at Serampur in West
- The paper industry in India is ranked among the 15 top global paper
7. Silk Industry
- India is the second largest (first being China) country in the world in
producing natural silk. At present, India produces about 16 per cent silk of
- India enjoys the distinction of being the only country producing all the
five known commercial varieties of silk, viz., Mulberry, Tropical Tussar,
Oak Tussar, Eri and Muga.
8. Petroleum & Natural Gas
- First successful oil well was dug in India in 1889 at Digboi, Assam.
- At present a number of regions having oil reserves have been identified
and oil is being extracted in these regions.
- For exploration purpose, Oil and Natural Gas Commission (ONGC) was
established in 1956 at Dehradun, Uttaranchal.
Marketing and Distribution of Petroleum Products
1. Indian Oil Corporation (IOC): Established in 1964 by amalgamating
Indian Refineries Ltd. and Indian Oil Company Ltd.
2. Bharat Petroleum Corporation Ltd (BPCL): By acquisition of Burmah
Shell in 1976.
3. Hindustan Petroleum Corporation Ltd (HPCL): Established in 1974 by
acquiring the assets of US Company ESSO Eastern. In 1976, Government acquired
Caltex Oil Refining Ltd. and merged it with HPCL.
4. Gas Authority of India Ltd (GAIL): Established in 1984, for handling
post-exploration activities relating to natural gas. The company was assigned
the priority task of setting up the cross country HBJ (Hazira, Bijapur and
Jagdishpur) pipeline. Presently GAIL is the largest company in India for
marketing of natural gas.
In 1997, the Government identified nine leading, well performing and
high profit making public enterprises as Navratnas (Nine precious jewels).
Later, in the same year, two more were added to the list. In 2007, three
more companies were conferred Navratna status. In 2008, many more were
conferred this status.
They have been given special powers including freedom to form new joint
ventures, make new investments and authorized to raise money.
The Navratnas can forge joint ventures both in India and abroad, which
can be up to 15 per cent of their net worth or Rs. 1000 crore, whichever is
lower, without taking prior permission of the restrictive ministry.
1. Indian Oil Corporation Ltd. (IOC)
2. Bharat Petroleum Corporation Ltd. (BPCL)
3. Hindustan Petroleum Corporation Ltd. (HPCL)
4. Oil & Natural Gas Corporation Ltd. (ONGC)
5. Shipping Corporation of India Ltd. (SCIL)
6. Steel Authority of India Ltd. (SAIL)
7. National Thermal Power Corporation Ltd. (NTPC)
8. Bharat Heavy Electricals Ltd. (BHEL)
9. Rural Electrification Corporation Ltd. (REC)
10. Mahanagar Telephone Nigam Ltd. (MTNL)
11. Gas Authority of India Ltd. (GAIL)
12. Bharat Electronics Ltd. (BEL)
13. Hindustan Aeronautics Ltd. (HAL)
14. Power Finance Corporation (PFC)
15. National Mineral Development Corporation (NMDC)
16. Power Grid Corporation of India Ltd.
17. National Aluminium Corporation Ltd. (NALCO)
18. Coal India Ltd.
In 2009, the Government established the Mahartna Status with the objective to
delegate enhanced powers to the Boards of identities Cargo sizes, Navratnas
CPSES to facilitate further expansion of their operation, both in domestic as
well as global market.
List of Maharatnas–
1. Indian Oil Corporation (IOC)
2. National Thermal Power Corporation (NTPC)
3. Oil and Natural Gas Corporation (ONGC)
4. Steel Authority of India (SAIL)
5. Coal India Limited (CIL)
National Income Of India
A. Relating to the domestic product
- GROSS DOMESTIC PRODUCT at Market Price = Market value of final output of
goods and services produced within the country’s domestic economy in a
period of one year.
- NET DOMESTIC PRODU
- NET DOMESTIC PRODUCT at Market Price = GDP – Depreciation
- NET DOMESTIC PRODUCT at Factor Cost
= NDP (MP) – Indirect Taxes + Subsidies
B. Relating to the national product
- GROSS NATIONAL PRODUCT at Market Price = GDP (MP) + Net Factor income
- NET NATIONAL PRODUCT at
Market Price = GNP (MP) – Depreciation
- NET NATIONAL PRODUCT at Factor Cost
NATIONAL INCOME = National Product (MP) – Indirect Taxes + Subsidies
- PER CAPITA PRODUCT/INCOME
= National Income/Population
= Net National Product at Factor Cost/Population.
- The Ist estimate of National Income was prepared by Dadabhai Naoroji for
the year 1867-68.
- The Ist scientific estimate was made by Prof. V.K.R.V. Rao for the year
- After independence, recognizing the importance of estimate of national
income and its various components, the Government of India appointed the
National Income Committee in 1949, with P.C. Mahalanobis as the Chairman.
- Following the report of this committee, the task of national income was
entrusted to the Central Statistical Organisation (CSO).
Indian Tax Structure
Some taxes are levied, collected and retained by the
Centre. These include customs duty, corporation tax, taxes on capital (other
than agricultural land) etc
Some taxes are levied and collected by the Centre but
shared with the States. These include taxes on income other than
agricultural income and union excise duties on goods included in Union List,
excepting medicinal and toilet preparations.
Some taxes are levied and collected by the Centre but the
proceeds are to be distributed among States. These include succession and
estate duties in respect of property other than agricultural land, terminal
tax on goods and passengers, tax on railway fares and freights, taxes on
transaction in stock exchanges and future markets and taxes on sale or
purchase of newspapers and ads.
Some taxes are levied by the Centre but collected and
appropriated by the States. These include stamp duties other than included
in Union List and excise duties on medicinal and toilet preparations.
Taxes belonging to State exclusively are land revenue, stamp
Structure of Taxes
1. Direct Taxes
Include taxes on income and property, the important ones
being personal income tax, corporate tax, estate duty and wealth tax.
Income tax is progressive in India, i.e., the rate of tax is
not uniform but rises progres-sively with the rise in money income.
During the last two decades, there has been a continuous
reduction in the tax rate because high rates of income tax had merely
encouraged tax evasion and growth in black money.
2. Indirect Taxes
Include Sales Tax, Excise Duties, Customs Duties, etc.
The Government of India earns maximum from Union Excise
Rupee was first minted in India during the reign of Sher
Shah Suri around 1542.
India became a member of International Monetary Fund (IMF)
in 1947, & exchange value of rupee came to be fixed by IMF standards.
All coins and one rupee notes are issued by Govt. of India.
That’s why one rupee note doesn’t bear the signature of Governor of RBI. It
bears the signature of Finance Secretary, Government of India.
Demonetization of Currency
Mints And Presses
1. Indian Security Press, Nasik, prints postal and judicial stamps, cheques
2. Currency Note Press, Nasik, prints notes of Rs. 10 and under
3. Bank Note Press, Dewas (MP) has 2 units
(a) Bank notes of Rs. 20, 50, 100 and above denominations.
(b) Ink factory for manufacturing security paper.
4. Security Paper Mill, Hoshangabad, manufactures paper for making currency
notes and other security paper.
5. Security Printing Press at Hyderabad.
6. Government medals are minted at Kolkata and NOIDA.
Devaluation of Currency
Refers to reducing value of the Indian rupee in comparison
to the leading currencies in the world market.
||• In June 1949 by 30.5%
||(Finance Minister : Dr. John Mathai)
||• In June 1966 by 57%
||(Finance Minister : Sachindra Chaudhry)
||• On July 1, 1991 by 9 %
||(Finance Minister : Dr. Manmohan Singh)
||• On July 3, 1991 by 11%
||(Finance Minister : Dr. Manmohan Singh)
The basic objective of devaluation is to reduce deficits in
balance of trade by making exports relatively cheap & imports costly.