INSIGHTS CURRENT AFFAIRS ( 20 June 2020) REVISION THROUGH MCQS

Ans: (d)

Explanation:

• All about Keeladi excavations:
• Excavations in Keeladi prove that an urban civilisation existed in Tamil Nadu in the Sangam era on the banks of the river Vaigai.
• Many antiquities have been unearthed that provide crucial evidence to understanding the missing links of the Iron Age [12th century BCE to 6th century BCE] to the Early Historic Period [6th century BCE to 4th century BCE] and subsequent cultural developments.

Refer: https://www.insightsonindia.com/2020/06/20/keeladi-excavations/

Ans: (d)

Explanation:

• The World Justice Project (WJP) is an American independent, multidisciplinary organization with the stated mission of “working to advance the rule of law around the world”. It brings rule of law index.
• The World Justice Project Rule of Law Index is a quantitative assessment tool designed to offer a detailed and comprehensive picture of the extent to which countries adhere to the rule of law in practice.
• The Index provides data on eight dimensions of the rule of law: limited government powers; absence of corruption; order and security; fundamental rights; open government; regulatory enforcement; civil justice; and criminal justice.
• These factors are further disaggregated into forty-four indicators. Together, they provide a comprehensive picture of rule of law compliance. The index is typically published annually.
• Why in News?
  • A petition was filed in the Supreme Court asking the Court to direct the government to setup expert panels to boost India’s prospects in the Rule of Law Index.

Refer: https://www.insightsonindia.com/2020/06/20/rule-of-law-index/

Ans: (a)

Explanation:

• Stat1: Small industrial Development Bank of India (SIDBI) is a development financial institution in India, headquartered at Lucknow and having its offices all over the country. Its purpose is to provide refinance facilities and short term lending to industries, and serves as the principal financial institution in the Micro, Small and Medium Enterprises (MSME) sector.
• Stat2: The Ministry of Housing and Urban Affairs has signed MoU with Small Industries Development Bank of India (SIDBI) in order to engage SIDBI as the Implementation Agency for PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) – a Special Micro-Credit Facility for Street Vendors.

Refer: https://www.insightsonindia.com/2020/06/20/pm-svanidhi-2/

Ans: (d)

Explanation:

• Stat1: Equalisation Levy was introduced in India in 2016, with the intention of taxing the digital transactions and online advertisements. It is part of the Finance act.
• Statement 2: Since Equalisation Levy is outside the scope of tax treaties entered into by India with other countries, the foreign company cannot claim a tax credit in its home country.

Refer: https://www.insightsonindia.com/2020/06/20/what-is-gafa-tax/

Ans: (c)

Explanation: What is GAFA tax?

• GAFA tax—named after Google, Apple, Facebook, Amazon—is a proposed digital tax to be levied on large technology and internet companies. France has decided to introduce the tax (3% tax on revenues from digital activities).

Refer: https://www.insightsonindia.com/2020/06/20/what-is-gafa-tax/

Ans: (a)

Explanation:

• Stat1: NDRF fund managed by the Central Government for meeting the expenses for emergency response, relief and rehabilitation due to any threatening disaster situation or disaster.
• It was constituted to supplement the funds of the State Disaster Response Funds (SDRF) of the states to facilitate immediate relief in case of calamities of a severe nature.
• Stat2: Located in the “Public Accounts” of Government of India under “Reserve Funds not bearing interest”.

Refer: https://www.insightsonindia.com/2020/06/20/individual-contributions-to-ndrf-get-green-light-from-finance-ministry/

Ans: (c)

Explanation:

• Launched by Ministry of Mines.
• SATYABHAMA stands for Science and Technology Yojana for Aatmanirbhar Bharat in Mining Advancement.
• Designed, developed and implemented by National Informatics Centre (NIC), Mines Informatics Division.
• It allows online submission of project proposals along with monitoring of the projects and utilization of funds / grants. The researchers can also submit progress reports and Final Technical Reports of the projects in the electronic format in the portal.

Refer: Facts for Prelims: https://www.insightsonindia.com/2020/06/20/insights-daily-current-affairs-pib-summary-20-june-2020/

Ans: (d)

Explanation:

Refer: https://www.indiabudget.gov.in/economicsurvey/

Ans: (c)

Explanation:

• Stat1: The share of agriculture and allied sectors in the Gross Value Added (GVA) of the country at current prices has declined from 18.2 per cent in 2014-15 to 16.5 per cent in 2019-20. The share of agriculture and allied sectors in the total GVA of the country has been declining on account of relatively higher growth performance of non-agricultural sectors. This is a natural outcome of development process that leads to faster growth of non-agricultural sectors owing to structural changes taking place in the economy.
• Stat2: Government had increased MSPs for all mandated kharif, rabi and other commercial crops with a return of 1.5 times over all India weighted average cost of production for the season 2018-19. Government has recently increased the MSPs for all mandated kharif and rabi crops for 2019-20 season in line with this principle. Further, direct income/investment support schemes have been introduced. Hence, statement 2 is correct.

Refer: https://www.indiabudget.gov.in/economicsurvey/

Ans: (c)

Explanation:

• Stat1: Mukhya Mantri Krishi Ashirwad Yojana started in in Jharkhand.
• Stat2: MMKAY scheme is a target set by the government to provide welfare and financial support to farmers in Jharkhand.
• Stat3: The scheme, which was incorporated in the state budget from the financial year 2019-2020, is the first scheme by the state government that provides 100 percent settlement through Direct Benefit Transfer (DBT) medium

Refer: https://www.indiabudget.gov.in/economicsurvey/