With reference to the public Sector Undertaking in India, consider the following statements : 1. Minerals and Metals Trading Corporation of India Limited is the largest non-oil importer of the country. 2. Project and Equipment Corporation of India Limited

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Q: 85 (IAS/2002)
With reference to the public Sector Undertaking in India, consider the following statements :
1. Minerals and Metals Trading Corporation of India Limited is the largest non-oil importer of the country.
2. Project and Equipment Corporation of India Limited is under the Ministry of Industry.
3. One of the objectives of Export Credit Guarantee Corporation of India Limited is to enforce quality control and compulsory pre-shipment inspection of various exportable commodities
Which of these statements is/are correct?

question_subject: 

Economics

question_exam: 

IAS

stats: 

0,20,66,20,27,20,19

keywords: 

{'export credit guarantee corporation': [0, 0, 1, 0], 'india limited': [1, 0, 3, 4], 'various exportable commodities': [0, 0, 1, 0], 'public sector undertaking': [0, 0, 0, 1], 'equipment corporation': [0, 0, 1, 0], 'metals trading corporation': [0, 0, 1, 0], 'industry': [4, 6, 11, 27], 'objectives': [2, 1, 4, 11], 'quality control': [0, 0, 1, 0], 'india': [8, 1, 7, 13]}

The correct statement is:

1. Minerals and Metals Trading Corporation of India Limited is the largest non-oil importer of the country.

Explanation:

Statement 1 is correct. The Minerals and Metals Trading Corporation of India Limited (MMTC) is indeed the largest non-oil importer in India. It is a public sector undertaking involved in the import and export of various commodities, including minerals, metals, precious stones, and agricultural products.

Statement 2 is incorrect. The Project and Equipment Corporation of India Limited (PEC) is not under the Ministry of Industry. PEC is a public sector undertaking that specializes in the execution of turnkey projects, supply of engineering goods and equipment, and international trade.

Statement 3 is incorrect. The Export Credit Guarantee Corporation of India Limited (ECGC) is not responsible for enforcing quality control and compulsory pre-shipment inspection of exportable commodities. ECGC is a specialized financial institution that provides export credit insurance and guarantees to Indian exporters against the risk of non-payment by overseas buyers.

Therefore, the correct statement is 1 only.