UPSC Prelims 2003 Q146: Current Affairs – Business & Economy
With reference to India,
which one of the following statements is NOT correct?
- (a) IPCL is India’s largest petro - chemical company
- (b) RIL is the largest private sector company in India
- (c) MTNL is listed on NYSE
- (d) NSNL is the first telecom service organization in India to launch a nationwide cellular service at one time
Answer: (a) IPCL is India’s largest petro - chemical company
Explanation
> Note for students: The exam asked which statement is NOT correct. IPCL was not India's largest petrochemical company, so (a) is the answer by facts, even though some keys give (c).
Indian companies (NOT correct)
| Statement | Verdict |
|---|---|
| a. IPCL is India's largest petrochemical company | Not correct — Reliance Industries is the largest; IPCL was acquired by RIL in 2002 |
| b. RIL is the largest private sector company in India | Correct |
| c. MTNL is listed on the NYSE | Correct |
| d. BSNL (written as NSNL) first launched nationwide cellular service | Correct |
The question asks which statement is NOT correct: it is (a), since the largest petrochemical company is Reliance Industries, not IPCL. (The stored key (c) is corrected to (a).)
Answer: (a) IPCL is India's largest petro-chemical company.
Why each option is right or wrong
- (a) CORRECT. IPCL was not the largest petrochemical company; RIL was.
- (b) Incorrect. RIL was the largest private sector company.
- (c) Incorrect. MTNL was listed on the NYSE.
- (d) Incorrect. BSNL launched a nationwide cellular service.
Key point
RIL: largest private company; IPCL: acquired by RIL in 2002; MTNL: NYSE listing 1996.
Remember
Reliance Industries, not IPCL, was India's largest petrochemical company.
Common mistakes
- Taking IPCL as the largest petrochemical firm.
- Reading the stem as asking for a correct statement.
- Mixing MTNL's NYSE listing with VSNL's.
Exam tip
NOT questions: verify each statement separately.
Sources
- Reliance Industries Limited — Annual Report 2002–03 (acquisition of Indian Petrochemicals Corporation Limited)
- Mahanagar Telephone Nigam Limited — Annual Report 2002–03 (listing on the New York Stock Exchange)
- Videsh Sanchar Nigam Limited — Annual Report 2002–03