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Question 1 of 20
1. Question
1 points“Q.1) With reference to the Minimum Support Price (MSP) for Minor Forest Produce (MFP) Scheme, consider the following statements:
1. The scheme is implemented in selected states having Schedule areas as listed in the Fifth Schedule of the Constitution of India.
2. TRIFED the apex national organisation involved in the improvement of the livelihood and empowerment of these tribal people is the nodal agency for the implementation of this scheme.
Which of the following statements is/are correct?
“Correct
“Answer: (b)
MSP for MFP Scheme
• Under the scheme, Minimum Support Price for Minor Forest Produce (MFP) has been fixed for select MFP.
• The scheme is designed as a social safety net for improvement of livelihood of MFP gatherers by providing them fair price for the MFPs they collect.
• The Scheme has been implemented in eight States having Schedule areas as listed in the Fifth Schedule of the Constitution of India.
• From November 2016, the scheme is applicable in all States.(Hence statement 1 is NOT CORRECT)
• TRIFED, as the apex national organisation involved in the improvement of the livelihood and empowerment of these tribal people, is the nodal agency for the implementation of the scheme. (Hence statement 2 is CORRECT)
Note: MSPs for 23 farm commodities is currently fixed by the Central Government based on the Commission for Agricultural Costs and Prices (CACP) recommendations.
https://www.civilsdaily.com/news/pib-14-new-minor-forest-produce-mfp-included-minimum-support-price-msp-scheme/
“Incorrect
“Answer: (b)
MSP for MFP Scheme
• Under the scheme, Minimum Support Price for Minor Forest Produce (MFP) has been fixed for select MFP.
• The scheme is designed as a social safety net for improvement of livelihood of MFP gatherers by providing them fair price for the MFPs they collect.
• The Scheme has been implemented in eight States having Schedule areas as listed in the Fifth Schedule of the Constitution of India.
• From November 2016, the scheme is applicable in all States.(Hence statement 1 is NOT CORRECT)
• TRIFED, as the apex national organisation involved in the improvement of the livelihood and empowerment of these tribal people, is the nodal agency for the implementation of the scheme. (Hence statement 2 is CORRECT)
Note: MSPs for 23 farm commodities is currently fixed by the Central Government based on the Commission for Agricultural Costs and Prices (CACP) recommendations.
https://www.civilsdaily.com/news/pib-14-new-minor-forest-produce-mfp-included-minimum-support-price-msp-scheme/
“ -
Question 2 of 20
2. Question
1 pointsQ.2) The MITRA scheme recently announced in the Union Budget 2021-22 is related to: Correct
Answer: (c)
MITRA Scheme
• MITRA aims to enable the textile industry to become globally competitive, attract large investments, and boost employment generation and exports.
• It will create world-class infrastructure with plug and play facilities to enable create global champions in exports.
• It will be launched in addition to the Production Linked Incentive Scheme (PLI).
https://www.civilsdaily.com/news/pib-mega-investment-textiles-parks-mitra-scheme/Incorrect
Answer: (c)
MITRA Scheme
• MITRA aims to enable the textile industry to become globally competitive, attract large investments, and boost employment generation and exports.
• It will create world-class infrastructure with plug and play facilities to enable create global champions in exports.
• It will be launched in addition to the Production Linked Incentive Scheme (PLI).
https://www.civilsdaily.com/news/pib-mega-investment-textiles-parks-mitra-scheme/ -
Question 3 of 20
3. Question
1 pointsQ.3) With reference to the Union Government, consider the following statements:
1. The Department of Revenue is responsible for the preparation of Union Budget that is presented to the Parliament.
2. No amount can be withdrawn from the Consolidated Fund of India without the authorization from the Parliament of India.
3. All the disbursements made from Public Account also need the authorization from the Parliament of India.
Which of the statements given above is/are correct?Correct
Answer: (c)
Department of Economic Affairs prepares the Budget. Hence statement 1 is NOT CORRECT.
No amount can be withdrawn from the Consolidated Fund of India without the authorisation from the Parliament. This fund is formed under the provision of Aricle 266 (1) of the Indian Constitution. Hence statement is CORRECT.
Provident Fund deposits, savings bank deposits, remittances etc are credited to the Public Account and this account is operated by the executive action i.e. payment from this account can be made without Parliamentary appropriation. Hence statement 3 is NOT CORRECT.
https://www.civilsdaily.com/burning-issue-highlights-of-union-budget-2021-22/Incorrect
Answer: (c)
Department of Economic Affairs prepares the Budget. Hence statement 1 is NOT CORRECT.
No amount can be withdrawn from the Consolidated Fund of India without the authorisation from the Parliament. This fund is formed under the provision of Aricle 266 (1) of the Indian Constitution. Hence statement is CORRECT.
Provident Fund deposits, savings bank deposits, remittances etc are credited to the Public Account and this account is operated by the executive action i.e. payment from this account can be made without Parliamentary appropriation. Hence statement 3 is NOT CORRECT.
https://www.civilsdaily.com/burning-issue-highlights-of-union-budget-2021-22/ -
Question 4 of 20
4. Question
1 pointsQ.4) Consider the following statements:
1. Treasury Bills are issued only by the central government, and the interest on them is determined by market forces.
2. Government Securities (G-Secs) are tax free debt instruments issued by the government to borrow money.
3. Small investors can invest indirectly in G-secs by buying mutual funds or through certain policies issued by life insurance firms.
Which of the given statements is/are correct?Correct
Answer: (b)
What is the news?
The RBI has said that it would allow retail investors and other small investors’ direct access to its government securities trading platform.
What are G-Secs?
• These are debt instruments issued by the government to borrow money.
• The two key categories are:
1. Treasury bills (T-Bills) – short-term instruments which mature in 91 days, 182 days, or 364 days, and
2. Dated securities – long-term instruments, which mature anywhere between 5 years and 40 years
• Like bank fixed deposits, g-secs are not tax-free. Hence statement 2 is NOT CORRECT!
• T-Bills are issued only by the central government, and the interest on them is determined by market forces.
• Small investors can invest indirectly in g-secs by buying mutual funds or through certain policies issued by life insurance firms as provided by the RBI.
https://www.civilsdaily.com/news/what-are-government-securities-g-secs/Incorrect
Answer: (b)
What is the news?
The RBI has said that it would allow retail investors and other small investors’ direct access to its government securities trading platform.
What are G-Secs?
• These are debt instruments issued by the government to borrow money.
• The two key categories are:
1. Treasury bills (T-Bills) – short-term instruments which mature in 91 days, 182 days, or 364 days, and
2. Dated securities – long-term instruments, which mature anywhere between 5 years and 40 years
• Like bank fixed deposits, g-secs are not tax-free. Hence statement 2 is NOT CORRECT!
• T-Bills are issued only by the central government, and the interest on them is determined by market forces.
• Small investors can invest indirectly in g-secs by buying mutual funds or through certain policies issued by life insurance firms as provided by the RBI.
https://www.civilsdaily.com/news/what-are-government-securities-g-secs/ -
Question 5 of 20
5. Question
1 pointsQ.5) Which of the following countries borders North Sea?
1. Denmark
2. Norway
3. Russia
4. Germany
5. France
Select the correct alternatives:Correct
Answer: (b)
North SeaThe North Sea is a sea of the Atlantic Ocean located between Great Britain (England and Scotland), Denmark, Norway, Germany, the Netherlands, Belgium and France.
Why in news?
The Danish government has approved a plan to build an artificial island in the North Sea as part of its effort to switch to green energy.
https://www.civilsdaily.com/news/denmarks-artificial-energy-island-project/Incorrect
Answer: (b)
North SeaThe North Sea is a sea of the Atlantic Ocean located between Great Britain (England and Scotland), Denmark, Norway, Germany, the Netherlands, Belgium and France.
Why in news?
The Danish government has approved a plan to build an artificial island in the North Sea as part of its effort to switch to green energy.
https://www.civilsdaily.com/news/denmarks-artificial-energy-island-project/ -
Question 6 of 20
6. Question
1 pointsQ.6) With reference to the various Mudras (gestures) of Buddha, consider the following statements:
1. The Varada Mudra signifies fulfillment of all wishes as well as gesture of charity.
2. The Bhumisparsha Mudra signifies gesture of reassurance, blessings and protection.
Which of the given statements is/are correct?Correct
Answer: (a)
The Varada mudra (favourable mudra) signifies offering, welcome, charity, giving, compassion and sincerity.
The Bhumisparsha Mudra formed with all five fingers of the right hand extended to touch the ground, symbolizes the Buddha’s enlightenment under the Bodhi tree, when he summoned the earth goddess, Sthavara, to bear witness to his attainment of enlightenment.
Hence statement 2 is NOT CORRECT.
https://www.civilsdaily.com/news/10th-century-buddhist-monastery-uncovered-in-jharkhands-hazaribagh/Incorrect
Answer: (a)
The Varada mudra (favourable mudra) signifies offering, welcome, charity, giving, compassion and sincerity.
The Bhumisparsha Mudra formed with all five fingers of the right hand extended to touch the ground, symbolizes the Buddha’s enlightenment under the Bodhi tree, when he summoned the earth goddess, Sthavara, to bear witness to his attainment of enlightenment.
Hence statement 2 is NOT CORRECT.
https://www.civilsdaily.com/news/10th-century-buddhist-monastery-uncovered-in-jharkhands-hazaribagh/ -
Question 7 of 20
7. Question
1 pointsQ.7) The species terms Kappaphycus alvarezii, Gracilaria edulis, Gelidiella acerosa and Ulva Linza recently seen in news are: Correct
Answer: (b)
National Seaweed Mission
The Mission envisages the following activities:
• establishing model demonstration farms over one hectare for the cultivation of economically important seaweeds in nearshore and onshore along the Indian coast
• Kappaphycus all over Indian coast
• Gracilaria dura in Gujarat
• Gracilariaverrucosa in Chilika Lake (Odisha)
• Ulva Linza or Ulva prolife rain Chilika Lake (Odisha)
• Ulva Lactuca or Ulva fasciata or Ulva indica all over India coast
Proposed Sites: Gujarat / Tamil Nadu / Andhra Pradesh / Odisha / Karnataka
https://www.civilsdaily.com/news/pib-seaweeds-mission/Incorrect
Answer: (b)
National Seaweed Mission
The Mission envisages the following activities:
• establishing model demonstration farms over one hectare for the cultivation of economically important seaweeds in nearshore and onshore along the Indian coast
• Kappaphycus all over Indian coast
• Gracilaria dura in Gujarat
• Gracilariaverrucosa in Chilika Lake (Odisha)
• Ulva Linza or Ulva prolife rain Chilika Lake (Odisha)
• Ulva Lactuca or Ulva fasciata or Ulva indica all over India coast
Proposed Sites: Gujarat / Tamil Nadu / Andhra Pradesh / Odisha / Karnataka
https://www.civilsdaily.com/news/pib-seaweeds-mission/ -
Question 8 of 20
8. Question
1 pointsQ.8) Consider the following statements:
1. He became the dominant ruler of the peninsula of India by defeating the Sultans of Bijapur, Golconda, the Bahmani Sultanate and the Gajapatis of Odisha, and was one of the most powerful Hindu rulers in India.
2. When the Mughal Emperor Babur was taking stock of the north India, He was rated the most powerful and had the most extensive empire in the South.
3. He earned the titles Kannada Rajya Rama Ramana (lit, “Lord of the Kannada empire”), and Mooru Rayara Ganda (lit, “King of Three Kings”).
Which of the following kings/emperors is referred to in the above description?Correct
Answer: (c)
Why in news?
The first-ever epigraphical reference to the date of death of Vijayanagara king Krishnadevaraya has been discovered in the Tumakuru district of Karnataka.
Krishnadevaraya
• Krishna Devaraya was the emperor of the Vijayanagara Empire during 1509–1529. He was the third ruler of the Tuluva Dynasty and is considered to be its greatest ruler.
• He possessed the largest empire in India after the decline of the Delhi Sultanate.
• Krishnadevaraya earned the titles Kannada Rajya Rama Ramana (lit, “Lord of the Kannada empire”), Andhra Bhoja (lit, “Andhra Bhoja(Scholar) King”) and Mooru Rayara Ganda (lit, “King of Three Kings”).
• He became the dominant ruler of the peninsula of India by defeating the Sultans of Bijapur, Golconda, the Bahmani Sultanate and the Gajapatis of Odisha, and was one of the most powerful Hindu rulers in India.
• Indeed, when the Mughal Emperor Babur was taking stock of the potentates of north India, Krishnadevaraya was rated the most powerful and had the most extensive empire in the subcontinent.
• Portuguese travellers Domingo Paes and Fernao Nuniz also visited the Vijayanagara Empire during his reign.
https://www.civilsdaily.com/news/inscription-on-krishnadevarayas-death-discovered/Incorrect
Answer: (c)
Why in news?
The first-ever epigraphical reference to the date of death of Vijayanagara king Krishnadevaraya has been discovered in the Tumakuru district of Karnataka.
Krishnadevaraya
• Krishna Devaraya was the emperor of the Vijayanagara Empire during 1509–1529. He was the third ruler of the Tuluva Dynasty and is considered to be its greatest ruler.
• He possessed the largest empire in India after the decline of the Delhi Sultanate.
• Krishnadevaraya earned the titles Kannada Rajya Rama Ramana (lit, “Lord of the Kannada empire”), Andhra Bhoja (lit, “Andhra Bhoja(Scholar) King”) and Mooru Rayara Ganda (lit, “King of Three Kings”).
• He became the dominant ruler of the peninsula of India by defeating the Sultans of Bijapur, Golconda, the Bahmani Sultanate and the Gajapatis of Odisha, and was one of the most powerful Hindu rulers in India.
• Indeed, when the Mughal Emperor Babur was taking stock of the potentates of north India, Krishnadevaraya was rated the most powerful and had the most extensive empire in the subcontinent.
• Portuguese travellers Domingo Paes and Fernao Nuniz also visited the Vijayanagara Empire during his reign.
https://www.civilsdaily.com/news/inscription-on-krishnadevarayas-death-discovered/ -
Question 9 of 20
9. Question
1 pointsQ. 9) With references to the Species Recovery Programme of the National Board for Wildlife (NBWL), consider the following statements:
1. The programme is one of the three components of the centrally funded scheme, Integrated Development of Wildlife Habitats (IDWH).
2. The recovery programme works for critically endangered species and habitats only.
3. The program now includes more than 50 wildlife species.
Select the correct statements:Correct
Answer: (b)
Why in news?
The National Board for Wildlife (NBWL) and MoEFCC last month included the caracal, a medium-sized wildcat found in parts of Rajasthan and Gujarat, in the list of critically endangered species under the Species Recovery Programme.
Species Recovery Programme
• The programme is one of the three components of the centrally funded scheme, Integrated Development of Wildlife Habitats (IDWH).
• Started in 2008-09, IDWH is meant for providing support to protected areas, protection of wildlife outside protected areas and recovery programmes for saving critically endangered species and habitats.
• So far, the recovery programme for critically endangered species in India now includes 22 wildlife species.
http://www.wiienvis.nic.in/Database/SRP_8555.aspx
https://www.civilsdaily.com/news/species-in-news-caracal/Incorrect
Answer: (b)
Why in news?
The National Board for Wildlife (NBWL) and MoEFCC last month included the caracal, a medium-sized wildcat found in parts of Rajasthan and Gujarat, in the list of critically endangered species under the Species Recovery Programme.
Species Recovery Programme
• The programme is one of the three components of the centrally funded scheme, Integrated Development of Wildlife Habitats (IDWH).
• Started in 2008-09, IDWH is meant for providing support to protected areas, protection of wildlife outside protected areas and recovery programmes for saving critically endangered species and habitats.
• So far, the recovery programme for critically endangered species in India now includes 22 wildlife species.
http://www.wiienvis.nic.in/Database/SRP_8555.aspx
https://www.civilsdaily.com/news/species-in-news-caracal/ -
Question 10 of 20
10. Question
1 pointsQ.10) He took part in the Vaikom (1924) and Guruvayoor (1931) temple-entry Satyagrahas; the anti-untouchability agitations. He opened his family temple for everyone, irrespective of caste distinction. He became a member of the Indian National Congress in 1946 and took part in the agitation against Sir C. P. Ramaswamy Iyer’s administration in Travancore. As the first president of the Travancore Devaswom Board, he revitalised many temples which had almost ceased to function.
Which of the following person is described in the above paragraph?Correct
Answer: (b)
Mannathu Padmanabhan
Mannathu Padmanabhan
• Padmanabhan was an Indian social reformer and freedom fighter from the south-western state of Kerala.
• He is recognised as the founder of the Nair Service Society (NSS), which claims to represent the Nair community that constitutes 12.10% (From KMS 2011) of the population of the state.
• He fought for social equality, the first phase being the Vaikom Satyagraha, demanding the public roads near the temple at Vaikom be opened to low caste Hindus.
• He took part in the Vaikom (1924) and Guruvayoor (1931) temple-entry Satyagrahas; the anti-untouchability agitations. He opened his family temple for everyone, irrespective of caste distinction.
• He became a member of the Indian National Congress in 1946 and took part in the agitation against Sir C. P. Ramaswamy Iyer’s administration in Travancore.
• As the first president of the Travancore Devaswom Board, he revitalised many temples which had almost ceased to function.
Why in news?
The Prime Minister has recently tweeted tributes to Sri Mannathu Padmanabhan on his death anniversary.
https://www.civilsdaily.com/news/pib-who-was-mannathu-padmanabhan-1878-1970/Incorrect
Answer: (b)
Mannathu Padmanabhan
Mannathu Padmanabhan
• Padmanabhan was an Indian social reformer and freedom fighter from the south-western state of Kerala.
• He is recognised as the founder of the Nair Service Society (NSS), which claims to represent the Nair community that constitutes 12.10% (From KMS 2011) of the population of the state.
• He fought for social equality, the first phase being the Vaikom Satyagraha, demanding the public roads near the temple at Vaikom be opened to low caste Hindus.
• He took part in the Vaikom (1924) and Guruvayoor (1931) temple-entry Satyagrahas; the anti-untouchability agitations. He opened his family temple for everyone, irrespective of caste distinction.
• He became a member of the Indian National Congress in 1946 and took part in the agitation against Sir C. P. Ramaswamy Iyer’s administration in Travancore.
• As the first president of the Travancore Devaswom Board, he revitalised many temples which had almost ceased to function.
Why in news?
The Prime Minister has recently tweeted tributes to Sri Mannathu Padmanabhan on his death anniversary.
https://www.civilsdaily.com/news/pib-who-was-mannathu-padmanabhan-1878-1970/ -
Question 11 of 20
11. Question
1 pointsQ.11) Which of the following statements best describes Accommodative Monetary Policy? Correct
Answer: (b)
Accommodative Monetary Policy
• Accommodative monetary policy is when central banks expand the money supply to boost the economy.
• Monetary policies that are considered accommodative include lowering the interest rate.
• These measures are meant to make money less expensive to borrow and encourage more spending.
What is the news?
The monetary policy committee (MPC) of RBI has decided to continue with the “accommodative policy” during the current financial year and also in the next financial year to revive growth on a durable basis while keeping inflation within the target, going forward.
https://www.thehindubusinessline.com/opinion/limits-to-an-accommodative-monetary-policy/article33775507.eceIncorrect
Answer: (b)
Accommodative Monetary Policy
• Accommodative monetary policy is when central banks expand the money supply to boost the economy.
• Monetary policies that are considered accommodative include lowering the interest rate.
• These measures are meant to make money less expensive to borrow and encourage more spending.
What is the news?
The monetary policy committee (MPC) of RBI has decided to continue with the “accommodative policy” during the current financial year and also in the next financial year to revive growth on a durable basis while keeping inflation within the target, going forward.
https://www.thehindubusinessline.com/opinion/limits-to-an-accommodative-monetary-policy/article33775507.ece -
Question 12 of 20
12. Question
1 pointsQ.12) Tax buoyancy is one of the key indicators to assess the efficiency of a government’s tax system. With reference to this, consider the following statements:
1. A tax is said to be buoyant if the tax revenues increase more than proportionately in response to a rise in national income or output.
2. Tax elasticity is a better indicator of to assess the tax efficiency.
Which of the given statements is/are correct?Correct
Answer: (c)
Tax buoyancy
• Tax buoyancy is an indicator to measure efficiency and responsiveness of revenue mobilization in response to growth in the GDP or National income.
• A tax is said to be buoyant if the tax revenues increase more than proportionately in response to a rise in national income or output.
• A tax is buoyant when revenues increase by more than, say, 1 per cent for a 1 per cent increase in GDP. Hence statement 1 is CORRECT.
Tax elasticity
• A similar looking concept is tax elasticity. It refers to changes in tax revenue in response to changes in tax rate. For example, how tax revenue changes if the government reduces corporate income tax from 30 per cent to 25 per cent indicate tax elasticity.
• This gives more accurate assessment. Hence statement 2 is also CORRECT.
https://indianexpress.com/article/business/economy/estimated-tax-buoyancy-for-fy22-neither-conservative-nor-unduly-optimistic-ajay-bhushan-pandey-7186471/Incorrect
Answer: (c)
Tax buoyancy
• Tax buoyancy is an indicator to measure efficiency and responsiveness of revenue mobilization in response to growth in the GDP or National income.
• A tax is said to be buoyant if the tax revenues increase more than proportionately in response to a rise in national income or output.
• A tax is buoyant when revenues increase by more than, say, 1 per cent for a 1 per cent increase in GDP. Hence statement 1 is CORRECT.
Tax elasticity
• A similar looking concept is tax elasticity. It refers to changes in tax revenue in response to changes in tax rate. For example, how tax revenue changes if the government reduces corporate income tax from 30 per cent to 25 per cent indicate tax elasticity.
• This gives more accurate assessment. Hence statement 2 is also CORRECT.
https://indianexpress.com/article/business/economy/estimated-tax-buoyancy-for-fy22-neither-conservative-nor-unduly-optimistic-ajay-bhushan-pandey-7186471/ -
Question 13 of 20
13. Question
1 pointsQ.13) The Union Budget is classified into Revenue Budget and Capital Budget. Which of the following is/are covered under Capital Expenditure?
1. Construction of roads, highways, dams, bridges, ports, airports and railway lines
2. Acquisition of equipment and machinery by the government for defence purposes
3. Investment by the government that can yield profits or dividend
Select the correct answer using the code given below:Correct
Answer: (d)
Capital Expenditure
• The Union government defines capital expenditure as the money spent on the acquisition of assets like land, buildings, machinery, equipment, as well as investment in shares.
• Capital expenditure is the part of the government spending that goes into the creation of assets like schools, colleges, hospitals, roads, bridges, dams, railway lines, airports and seaports.
• Capital expenditure also covers the acquisition of equipment and machinery by the government, including those for defence purposes.
• Capital expenditure also includes investment by the government that yields profits or dividend in future.
https://timesofindia.indiatimes.com/blogs/economic-policy/why-governments-are-unable-to-reap-benefits-of-higher-capital-expenditure-multiplier/Incorrect
Answer: (d)
Capital Expenditure
• The Union government defines capital expenditure as the money spent on the acquisition of assets like land, buildings, machinery, equipment, as well as investment in shares.
• Capital expenditure is the part of the government spending that goes into the creation of assets like schools, colleges, hospitals, roads, bridges, dams, railway lines, airports and seaports.
• Capital expenditure also covers the acquisition of equipment and machinery by the government, including those for defence purposes.
• Capital expenditure also includes investment by the government that yields profits or dividend in future.
https://timesofindia.indiatimes.com/blogs/economic-policy/why-governments-are-unable-to-reap-benefits-of-higher-capital-expenditure-multiplier/ -
Question 14 of 20
14. Question
1 pointsQ.14) The Department of Investment and Public Asset Management (DIPAM) has classified 18 strategic sectors. Which of the following is/are included in the strategic sector?
1. Mining and exploration
2. Manufacture of defence equipment
3. Steel Industries
4. Ship building
5. Power transmission
Select the correct options from the alternatives given below:Correct
Answer: (d)
Strategic sectors
The Department of Investment and Public Asset Management (DIPAM) has classified 18 strategic sectors into three broad segments — mining and exploration, manufacturing, processing and generation, and the services sector.
In the mining and exploration segment, the areas where government will retain limited presence are coal, crude oil and gas, and minerals and metals.
Similarly, in manufacturing, processing and generation segment, the areas where the government will retain limited presence are defence equipment, steel, petroleum (refinery and marketing), fertilisers, power generation, atomic energy and ship building.
And, in the services sector, the areas identified are — power transmission, space, development and operation of airports, ports, highways and warehouses and gas transportation and logistics (not including gas and petro-chemicals trading), contract and construction and technical consultancy services related to strategic sectors and subsectors, financial services for infrastructure, export credit guarantee, energy and housing sectors, telecommunications and IT, banking and insurance.
Hence Option D is the CORRECT ANSWER.
What is the news?
Finance Minister her Budget speech has announced a new policy for central public sector enterprises (CPSEs), which she said will serve as a clear roadmap for disinvestment of government-owned firms across sectors.
https://pib.gov.in/PressReleseDetailm.aspx?PRID=1693899Incorrect
Answer: (d)
Strategic sectors
The Department of Investment and Public Asset Management (DIPAM) has classified 18 strategic sectors into three broad segments — mining and exploration, manufacturing, processing and generation, and the services sector.
In the mining and exploration segment, the areas where government will retain limited presence are coal, crude oil and gas, and minerals and metals.
Similarly, in manufacturing, processing and generation segment, the areas where the government will retain limited presence are defence equipment, steel, petroleum (refinery and marketing), fertilisers, power generation, atomic energy and ship building.
And, in the services sector, the areas identified are — power transmission, space, development and operation of airports, ports, highways and warehouses and gas transportation and logistics (not including gas and petro-chemicals trading), contract and construction and technical consultancy services related to strategic sectors and subsectors, financial services for infrastructure, export credit guarantee, energy and housing sectors, telecommunications and IT, banking and insurance.
Hence Option D is the CORRECT ANSWER.
What is the news?
Finance Minister her Budget speech has announced a new policy for central public sector enterprises (CPSEs), which she said will serve as a clear roadmap for disinvestment of government-owned firms across sectors.
https://pib.gov.in/PressReleseDetailm.aspx?PRID=1693899 -
Question 15 of 20
15. Question
1 pointsQ.15) With reference to the Finance Commission of India, consider the following statements:
1. The President of India determines the requisite qualifications for appointment as members of the commission and the procedure of selection.
2. The recommendations made by the Finance Commission are advisory in nature and, hence, not binding on the Government.
3. The Finance Commission is a quasi-judicial body in matters related to summoning & enforcing attendance and requisitioning any public record from any court of office.
Select the correct alternative from the codes given below:Correct
Answer: (c)
Article 280 of the Indian Constitution defines the scope of the Finance Commission:
1. The President will constitute a finance commission within two years from the commencement of the Constitution and thereafter at the end of every fifth year or earlier, as the deemed necessary by him/her, which shall include a chairman and four other members.
2. Parliament (not the President) may by law determine the requisite qualifications for appointment as members of the commission and the procedure of selection. Hence statement 1 is NOT CORRECT.
The Finance Commission is a quasi-judicial body in matters related to summoning & enforcing attendance and requisitioning any public record from any court of office. It includes judges as well as experts from the field also. Hence statement 3 is CORRECT.
The Finance Commission also tender advice to the President on any other matter referred to it in the interest of sound public finance. Undoubtedly, the recommendations made by the Finance Commission are advisory in nature and, hence, not binding on the Government. Hence statement 2 is also CORRECT.
https://www.civilsdaily.com/burning-issue-15th-finance-commission-and-its-recommendations-part-i/Incorrect
Answer: (c)
Article 280 of the Indian Constitution defines the scope of the Finance Commission:
1. The President will constitute a finance commission within two years from the commencement of the Constitution and thereafter at the end of every fifth year or earlier, as the deemed necessary by him/her, which shall include a chairman and four other members.
2. Parliament (not the President) may by law determine the requisite qualifications for appointment as members of the commission and the procedure of selection. Hence statement 1 is NOT CORRECT.
The Finance Commission is a quasi-judicial body in matters related to summoning & enforcing attendance and requisitioning any public record from any court of office. It includes judges as well as experts from the field also. Hence statement 3 is CORRECT.
The Finance Commission also tender advice to the President on any other matter referred to it in the interest of sound public finance. Undoubtedly, the recommendations made by the Finance Commission are advisory in nature and, hence, not binding on the Government. Hence statement 2 is also CORRECT.
https://www.civilsdaily.com/burning-issue-15th-finance-commission-and-its-recommendations-part-i/ -
Question 16 of 20
16. Question
1 pointsQ.16) Stardust 1.0 recently launched from the US has been in news because: Correct
Answer: (b)
Stardust 1.0 was recently launched from Maine, the US has become the first commercial space launch powered by biofuel.
Stardust 1.0
• Stardust 1.O is a launch vehicle suited for student and budget payloads.
• The rocket is manufactured by bluShift, an aerospace company based in Maine that is developing rockets that are powered by bio-derived fuels.
• The rocket is 20 feet tall and has a mass of roughly 250 kg.
• The rocket can carry a maximum payload mass of 8 kg and during its first launch carried three payloads.
• The payloads included a cubesat prototype built by high-school students, a metal alloy designed to lessen vibrations.
https://www.civilsdaily.com/news/stardust-1-o-the-first-rocket-to-run-on-biofuel/Incorrect
Answer: (b)
Stardust 1.0 was recently launched from Maine, the US has become the first commercial space launch powered by biofuel.
Stardust 1.0
• Stardust 1.O is a launch vehicle suited for student and budget payloads.
• The rocket is manufactured by bluShift, an aerospace company based in Maine that is developing rockets that are powered by bio-derived fuels.
• The rocket is 20 feet tall and has a mass of roughly 250 kg.
• The rocket can carry a maximum payload mass of 8 kg and during its first launch carried three payloads.
• The payloads included a cubesat prototype built by high-school students, a metal alloy designed to lessen vibrations.
https://www.civilsdaily.com/news/stardust-1-o-the-first-rocket-to-run-on-biofuel/ -
Question 17 of 20
17. Question
1 pointsQ.17) Consider the following statements with respect to the Limited Liability Partnerships (LLPs):
1. In an LLP, all partners are responsible or liable for another partner’s misconduct or negligence.
2. Presently LLPs are not regulated in India.
Which of the given statements is/are correct?Correct
Answer: (d)
Limited Liability Partnership (LLP)
• A LLP is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities.
• In an LLP, each partner is not responsible or liable for another partner’s misconduct or negligence. Hence statement 1 is NOT CORRECT.
• The Limited Liability Partnership Act, 2008 was enacted by the Parliament of India to introduce and legally sanction the concept of LLP in India. Hence statement 2 is also NOT CORRECT,
What is the news?
• The corporate affairs ministry has plans to decriminalize 12 offences as well as omit a provision entailing criminal liability under the Limited Liability Partnership (LLP) Act, 2008, for greater ease of doing business for law-abiding LLPs.
https://www.business-standard.com/article/economy-policy/govt-to-decriminalise-12-offences-under-llp-act-for-ease-of-doing-business-121020301995_1.htmlIncorrect
Answer: (d)
Limited Liability Partnership (LLP)
• A LLP is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities.
• In an LLP, each partner is not responsible or liable for another partner’s misconduct or negligence. Hence statement 1 is NOT CORRECT.
• The Limited Liability Partnership Act, 2008 was enacted by the Parliament of India to introduce and legally sanction the concept of LLP in India. Hence statement 2 is also NOT CORRECT,
What is the news?
• The corporate affairs ministry has plans to decriminalize 12 offences as well as omit a provision entailing criminal liability under the Limited Liability Partnership (LLP) Act, 2008, for greater ease of doing business for law-abiding LLPs.
https://www.business-standard.com/article/economy-policy/govt-to-decriminalise-12-offences-under-llp-act-for-ease-of-doing-business-121020301995_1.html -
Question 18 of 20
18. Question
1 pointsQ.18) Operation Twist was recently seen in news is related to: Correct
Answer: (b)
Operation Twist
• The simultaneous buy-sell of government bonds, known as Operation Twist, was conducted to bring down long-term interest rate while allowing short term rates to inch up.
• The move was aimed at addressing liquidity, which is assymetric — abundant at the shorter end but not on the longer end. The move will help in monetary transmission.
Open market operations are the sale and purchase of government securities and treasury bills by RBI or the central bank of the country.
What is the news?
RBI recently announced Operation Twist worth ₹10,000 crore.
https://www.livemint.com/news/india/rbi-announces-operation-twist-worth-rs10-000-crore-11613377484540.htmlIncorrect
Answer: (b)
Operation Twist
• The simultaneous buy-sell of government bonds, known as Operation Twist, was conducted to bring down long-term interest rate while allowing short term rates to inch up.
• The move was aimed at addressing liquidity, which is assymetric — abundant at the shorter end but not on the longer end. The move will help in monetary transmission.
Open market operations are the sale and purchase of government securities and treasury bills by RBI or the central bank of the country.
What is the news?
RBI recently announced Operation Twist worth ₹10,000 crore.
https://www.livemint.com/news/india/rbi-announces-operation-twist-worth-rs10-000-crore-11613377484540.html -
Question 19 of 20
19. Question
1 pointsQ.19) Consider the following statements with respect to the Participatory Notes (or P-Notes):
1. P-Notes are instrument issued by a registered foreign institutional investor (FII) to an overseas investor who wishes to invest in Indian stock markets.
2. The issuers of P-Notes need not register themselves with the market regulator.
3. Presently, the Reserve Bank of India oversees the P-Notes investments.
Select the correct alternatives from the following codes:Correct
Answer: (b)
Participatory Notes
• A participatory note, commonly known as a P-note or PN, is an instrument issued by a registered foreign institutional investor (FII) to an overseas investor who wishes to invest in Indian stock markets without registering themselves with the market regulator. Hence statements 1 and 2 are CORRECT.
• Securities and Exchange Board of India (SEBI) regulates the trade of P-notes. Hence statement 3 is NOT CORRECT.
• SEBI permitted foreign institutional investors to register and participate in the Indian stock market in 1992.
What is the news?
• The rise in the value of investments via P-Notes into Indian markets in 2020 and so far this calendar year is “not substantial enough” to warrant a concern, SEBI Chairman has said.
https://www.thehindubusinessline.com/economy/p-note-investment-surge-is-no-cause-for-concern-sebi-chief/article33874029.eceIncorrect
Answer: (b)
Participatory Notes
• A participatory note, commonly known as a P-note or PN, is an instrument issued by a registered foreign institutional investor (FII) to an overseas investor who wishes to invest in Indian stock markets without registering themselves with the market regulator. Hence statements 1 and 2 are CORRECT.
• Securities and Exchange Board of India (SEBI) regulates the trade of P-notes. Hence statement 3 is NOT CORRECT.
• SEBI permitted foreign institutional investors to register and participate in the Indian stock market in 1992.
What is the news?
• The rise in the value of investments via P-Notes into Indian markets in 2020 and so far this calendar year is “not substantial enough” to warrant a concern, SEBI Chairman has said.
https://www.thehindubusinessline.com/economy/p-note-investment-surge-is-no-cause-for-concern-sebi-chief/article33874029.ece -
Question 20 of 20
20. Question
1 pointsQ.20) With reference to India’s pharmaceuticals sector, consider the following statement:
1. India is the largest provider of generic drugs globally.
2. India itself generates its pharma raw materials called as the Active Pharmaceutical Ingredients (API) and is a net exporter of it.
Which of the given statements is/are correct?Correct
Answer: (a)
Indian Pharma Industry
• India enjoys an important position in the global pharmaceuticals sector, as India is the largest provider of generic drugs globally. Hence statement 1 is CORRECT.
• The Indian pharmaceutical industry meets over 50% of global demand for various vaccines, 40% of generic demand in the U.S. and 25% of all medicine in the U.K.
• Indian pharmaceutical industry is highly dependent on China for pharmaceutical raw materials.
• These raw materials are called the Active Pharmaceutical Ingredients (API), also known as bulk drugs. Indian drug-makers import around 70% of their total bulk drug requirements from China. Hence statement 2 is NOT CORRECT.
https://www.thehindu.com/business/Industry/pharma-exports-to-arab-nations-cumbersome-says-sanjay-bhattacharyya/article33916439.ece
https://www.nationalheraldindia.com/opinion/modi-government-has-to-do-much-more-for-india-to-truly-emerge-as-pharmacy-of-the-worldIncorrect
Answer: (a)
Indian Pharma Industry
• India enjoys an important position in the global pharmaceuticals sector, as India is the largest provider of generic drugs globally. Hence statement 1 is CORRECT.
• The Indian pharmaceutical industry meets over 50% of global demand for various vaccines, 40% of generic demand in the U.S. and 25% of all medicine in the U.K.
• Indian pharmaceutical industry is highly dependent on China for pharmaceutical raw materials.
• These raw materials are called the Active Pharmaceutical Ingredients (API), also known as bulk drugs. Indian drug-makers import around 70% of their total bulk drug requirements from China. Hence statement 2 is NOT CORRECT.
https://www.thehindu.com/business/Industry/pharma-exports-to-arab-nations-cumbersome-says-sanjay-bhattacharyya/article33916439.ece
https://www.nationalheraldindia.com/opinion/modi-government-has-to-do-much-more-for-india-to-truly-emerge-as-pharmacy-of-the-world
Leaderboard: 21st Aug 2021 | Environment Test 1
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