QUIZ – 2017: Insights Current Affairs Quiz, 02 February 2018

Solution: b.

The Ministry of Human Resource Development has recruited more than 1200 highly qualified and motivated graduates from IITs and NITs among others to teach in Engineering Colleges in the most backward areas for the next 3 years.

Under this project (presently TEQIP-III, assisted by World Bank)), all Government engineering colleges are selected for direct intervention, and all private engineering colleges are selected for indirect intervention. The measures are institution-based (ex: governance reforms) and student-based (ex: improving the quality of teaching).

http://pib.nic.in/PressReleseDetail.aspx?PRID=1518453

http://mhrd.gov.in/technical-education-12

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Solution: d.

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Solution: a.

The value of currency notes and coins is derived from the guarantee provided by the issuing authority of these items. They are called legal tenders as they cannot be refused by any citizen of the country for settlement of any kind of transaction. Cheques drawn on savings or current accounts, however, can be refused by anyone as a mode of payment. Hence, demand deposits are not legal tenders.

Introductory Macroeconomics, Class 12 NCERT;

Improvisation: http://www.thehindu.com/business/budget/jaitleys-view-on-cryptocurrencies-splits-opinion/article22629059.ece;

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Solution: a.

“Called the green gold, the bamboo has been in focus for the wrong reasons in the northeast. A rat famine triggered by flowering of this grass in 1959 led to the creation of the Mizo National Front that metamorphosed into a political party. The flowering of bamboo every 50-55 years leads to dramatic increase in the population of rats that destroy crops triggering famine, also called Mautam.”

http://www.thehindu.com/todays-paper/tp-miscellaneous/tp-others/the-grass-is-greener-for-bamboo/article22626870.ece;

Reference to the great famine of 1959 in Mizo hills also finds mention in the section ‘Secessionist movements’ -> Chapter ‘Regional Aspirations’ -> Politics in India Since Independence, Class 11, NCERT;

Solution: d.

Justification for Statement 1: The budget announced a reduction in the contribution that new women workers make to the employees provident fund, from 12% to 8%, to promote women’s participation in the labour force as well as increase their take-home pay. Women’s labour force participation rate in India is below 25% as against 40% globally. Economists and industry veterans point out that improving their participation will help boost the economy.

Justification for Statement 2: Jaitley also announced that the government will now “contribute 12% of the wages of new employees to the EPFO for all sectors for the next three years” for the next three years. This means companies across sectors will not have to pay the employer’s share of EPF contribution when they hire new employees. The move will reduce payroll costs of companies, and may encourage them to hire more.

Justification for Statement 3: To create quick jobs, the budget mentioned that the government is rolling out fixed-term contractual jobs across industry segments. Some experts say this will fuel the so-called hire-and-fire system. But both industry and the government believe it will add more jobs and reflect a shift in the government’s policy from job security to job creation.

http://www.livemint.com/Politics/N2skEpg9vvHOjmV9S2TgTL/Budget-2018-and-Unemployment-Job-creation-comes-in-the-spot.html;

Source: http://www.thehindu.com/business/budget/govt-to-pay-new-recruits-pf/article22624308.ece;