QUIZ – 2020: Insights Current Affairs Quiz, 30 January 2021
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 2020. 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.
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INSIGHTS CURRENT AFFAIRS QUIZ 2020
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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 points
Consider the following statements.
RBI primarily factors in retail inflation while making its bi-monthly monetary policy.
A broad-based domestic and global economic recovery can lead to rise in inflation.
Which of the above statements is/are correct?
Correct
Solution: c)
RBI primarily factors in retail inflation while making its bi-monthly monetary policy.
A broad-based domestic and global economic recovery should improve aggregate demand, posing an upside risk to inflation. On the other hand, favorable base effect, appreciating rupee and any risk of second or third wave of covid led slowdown, will be a tailwind for CPI inflation.
RBI primarily factors in retail inflation while making its bi-monthly monetary policy.
A broad-based domestic and global economic recovery should improve aggregate demand, posing an upside risk to inflation. On the other hand, favorable base effect, appreciating rupee and any risk of second or third wave of covid led slowdown, will be a tailwind for CPI inflation.
Compensatory Afforestation Fund can be utilised for which of the following activities?
Wildlife Management
Forest Fire Prevention and Control Operations
Payment of salary and medical expenses of those working in forest areas
Monitoring of CAMPA works
Select the correct answer code:
Correct
Solution: d)
The Environment Minister emphasized that the CAMPA funds cannot be used for payment of salary, travelling allowances, medical expenses, etc.
“Important activities on which the fund will be utilised will be for the Compensatory Afforestation, Catchment Area Treatment, Wildlife Management, Assisted Natural Regeneration, Forest Fire Prevention and Control Operations, Soil and Moisture Conservation Works in the forest, Improvement of Wildlife Habitat, Management of Biological Diversity and Biological Resources, Research in Forestry and Monitoring of CAMPA works etc”.
Incorrect
Solution: d)
The Environment Minister emphasized that the CAMPA funds cannot be used for payment of salary, travelling allowances, medical expenses, etc.
“Important activities on which the fund will be utilised will be for the Compensatory Afforestation, Catchment Area Treatment, Wildlife Management, Assisted Natural Regeneration, Forest Fire Prevention and Control Operations, Soil and Moisture Conservation Works in the forest, Improvement of Wildlife Habitat, Management of Biological Diversity and Biological Resources, Research in Forestry and Monitoring of CAMPA works etc”.
Question 3 of 5
3. Question
1 points
Consider the following statements.
Union Budget can make important decisions and changes in tariff structure of GST.
The GST law also provides for the creation of a Consumer Welfare Fund wherein undue benefits made by businesses under the GST law have to be deposited, in case it cannot be passed on to the identified recipient.
Which of the above statements is/are correct?
Correct
Solution: b)
GST Council is the governing body for the implementation of GST rules in India. It is tasked with the duties to make important decisions and changes in GST. The GST Council is authorised to determine the rate of tax applicable under the GST model, tax exemption rules, the due date of submitting GST forms, tax related laws and deadlines and special exemptions for some States of India.
Incorrect
Solution: b)
GST Council is the governing body for the implementation of GST rules in India. It is tasked with the duties to make important decisions and changes in GST. The GST Council is authorised to determine the rate of tax applicable under the GST model, tax exemption rules, the due date of submitting GST forms, tax related laws and deadlines and special exemptions for some States of India.
Question 4 of 5
4. Question
1 points
Teaser loan, sometimes seen in news means
Correct
Solution: c)
Teaser loans are those which charge comparatively lower rates of interest in the first few years after which the rates are increased.
Incorrect
Solution: c)
Teaser loans are those which charge comparatively lower rates of interest in the first few years after which the rates are increased.
Question 5 of 5
5. Question
1 points
Central Ground Water Authority (CGWA) has been constituted under
Correct
Solution: a)
Central Ground Water Authority (CGWA) has been constituted under Section 3(3) of the ‘Environment (Protection) Act, 1986’ for the purpose of regulation and control of ground water development and management in the Country.
Incorrect
Solution: a)
Central Ground Water Authority (CGWA) has been constituted under Section 3(3) of the ‘Environment (Protection) Act, 1986’ for the purpose of regulation and control of ground water development and management in the Country.
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