QUIZ – 2017: Insights Current Affairs Quiz,25 January 2019
QUIZ – 2017: Insights Current Affairs Quiz
The following quiz will have 5-10 MCQs. The questions are mainly framed from The Hindu and PIB news articles.
This quiz is intended to introduce you to concepts and certain important facts relevant to UPSC IAS civil services preliminary exam 2018. It is not a test of your knowledge. If you score less, please do not mind. Read again sources provided and try to remember better.
Please try to enjoy questions, discuss the concepts and facts they try to test from you and suggest improvements.
Hope you enjoy this quiz. If you like it, then please share it. Thank you.
INSIGHTS CURRENT EVENTS QUIZ 2019
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The following Quiz is based on the Hindu, PIB and other news sources. It is a current events based quiz. Solving these questions will help retain both concepts and facts relevant to UPSC IAS civil services exam.
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Question 1 of 5
1. Question
1 pointsConsider the following statements about the recommendations of FRBM Review Committee headed by N.K. Singh.
- Debt to GDP ratio of 50% should be targeted with a 30% limit for the centre and 20% limit for the states.
- The targeted debt to GDP ratio should be achieved by 2023.
- The Committee proposed to create a Fiscal Council headed by Finance Secretary.
- Under the FRBM Act, the government can deviate from the target.
Which of the above statements is/are correct?
Correct
Solution: b)
Debt to GDP ratio: The Committee suggested using debt as the primary target for fiscal policy. A debt to GDP ratio of 60% should be targeted with a 40% limit for the centre and 20% limit for the states. The targeted debt to GDP ratio should be achieved by 2023.
Fiscal Council: The Committee proposed to create an autonomous Fiscal Council with a Chairperson and two members appointed by the centre. To maintain its independence, it proposed a non-renewable four-year term for the Chairperson and members. Further, these people should not be employees in the central or state governments at the time of appointment.
Deviations: The Committee noted that under the FRBM Act, the government can deviate from the targets in case of a national calamity, national security or other exceptional circumstances notified by it.
Incorrect
Solution: b)
Debt to GDP ratio: The Committee suggested using debt as the primary target for fiscal policy. A debt to GDP ratio of 60% should be targeted with a 40% limit for the centre and 20% limit for the states. The targeted debt to GDP ratio should be achieved by 2023.
Fiscal Council: The Committee proposed to create an autonomous Fiscal Council with a Chairperson and two members appointed by the centre. To maintain its independence, it proposed a non-renewable four-year term for the Chairperson and members. Further, these people should not be employees in the central or state governments at the time of appointment.
Deviations: The Committee noted that under the FRBM Act, the government can deviate from the targets in case of a national calamity, national security or other exceptional circumstances notified by it.
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Question 2 of 5
2. Question
1 pointsGlobal Commission on Future of Work is the initiative of
Correct
Solution: d)
The formation of ILO Global Commission on the Future of Work marks the second stage in the ILO Future of Work Initiative.
- Its job is to undertake an in-depth examination of the future of work that can provide the analytical basis for the delivery of social justice in the 21st century.
- Its job also includes identifying the key challenges facing the world of work and making practical recommendations about how these may be addressed in the future.
Incorrect
Solution: d)
The formation of ILO Global Commission on the Future of Work marks the second stage in the ILO Future of Work Initiative.
- Its job is to undertake an in-depth examination of the future of work that can provide the analytical basis for the delivery of social justice in the 21st century.
- Its job also includes identifying the key challenges facing the world of work and making practical recommendations about how these may be addressed in the future.
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Question 3 of 5
3. Question
1 pointsConsider the following statements about Goods and Services Tax Appellate Tribunal (GSTAT)
- The Appellate Tribunal shall be situated at Mumbai.
- It would act as first appeal in GST laws and the first common forum of dispute resolution between Centre and States.
- Presided over by its President and shall consist of one Technical Member from Centre and one Technical Member from State.
Which of the above statements is/are correct?
Correct
Solution: b)
Cabinet has approved creation of National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT).
It shall be situated at New Delhi.
- Composition: Presided over by its President and shall consist of one Technical Member (Centre) and one Technical Member (State).
- It is the forum of second appeal in GST laws and the first common forum of dispute resolution between Centre and States.
Incorrect
Solution: b)
Cabinet has approved creation of National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT).
It shall be situated at New Delhi.
- Composition: Presided over by its President and shall consist of one Technical Member (Centre) and one Technical Member (State).
- It is the forum of second appeal in GST laws and the first common forum of dispute resolution between Centre and States.
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Question 4 of 5
4. Question
1 pointsConsider the following statements about Aadi Mahotsav
- The festival will featureexhibition-cum-sale of tribal handicrafts, art, paintings, fabric, jewellery and much more.
- It also provides an opportunity for tribals to sell their produce through e-commerce platforms.
- It is an initiative of Ministry of Commerce and TRIFED.
Which of the above statements is/are correct?
Correct
Solution: a)
Aadi Mahotsav is an effort to scale up the livelihood and income generating opportunity for tribals by giving them the opportunity to interact and sell their goods directly to the customers. Ministry of Tribal affairs and TRIFED through Aadi Mahotsav’s provides them market access across the country.
The festival will feature exhibition-cum-sale of tribal handicrafts, art, paintings, fabric, jewellery and much more.
Incorrect
Solution: a)
Aadi Mahotsav is an effort to scale up the livelihood and income generating opportunity for tribals by giving them the opportunity to interact and sell their goods directly to the customers. Ministry of Tribal affairs and TRIFED through Aadi Mahotsav’s provides them market access across the country.
The festival will feature exhibition-cum-sale of tribal handicrafts, art, paintings, fabric, jewellery and much more.
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Question 5 of 5
5. Question
1 pointsConsider the following statements about Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).
- It comprises of eight Member States lying in the littoral and adjacent areas of the Bay of Bengal.
- It came into being through the Bangkok Declaration.
- It is headquartered in Kathmandu, Nepal
- In 2018, the 4th BIMSTEC Summit concluded in Kathmandu
Which of the above statements is/are incorrect?
Correct
Solution: b)
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organization comprising seven Member States lying in the littoral and adjacent areas of the Bay of Bengal constituting a contiguous regional unity. This sub-regional organization came into being on 6 June 1997 through the Bangkok Declaration. In 2018, the 4th BIMSTEC Summit concluded in Kathmandu.
Incorrect
Solution: b)
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organization comprising seven Member States lying in the littoral and adjacent areas of the Bay of Bengal constituting a contiguous regional unity. This sub-regional organization came into being on 6 June 1997 through the Bangkok Declaration. In 2018, the 4th BIMSTEC Summit concluded in Kathmandu.