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 2021. 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 pointsConsider the following statements.
- Between 2015 and 2019, India’s trade with USA has increased continuously.
- Between 2015 and 2019, India’s trade with China has reduced continuously.
- In the year 2020, India’s trade with China was higher than India’s trade with USA.
Which of the above statements is/are correct?
Correct
Solution: c)
Trade between India and China from January to December 2020 stood at $77.67 billion. Though lower than the $85.47 billion traded between the countries in the 2019 calendar year, this figure was still higher than the $75.95 billion traded between India and the US last year.
Incorrect
Solution: c)
Trade between India and China from January to December 2020 stood at $77.67 billion. Though lower than the $85.47 billion traded between the countries in the 2019 calendar year, this figure was still higher than the $75.95 billion traded between India and the US last year.
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Question 2 of 5
2. Question
1 pointsBond yield is the return an investor gets on that bond or on a particular government security. Which of the following factors affect the bond yield in India?
- Monetary policy of the Reserve Bank of India
- Fiscal position of the government
- Global markets
- Inflation in the economy
Select the correct answer code:
Correct
Solution: d)
Bond yield is the return an investor gets on that bond or on a particular government security. The major factors affecting the yield is the monetary policy of the Reserve Bank of India, especially the course of interest rates, the fiscal position of the government and its borrowing programme, global markets, economy, and inflation.
Incorrect
Solution: d)
Bond yield is the return an investor gets on that bond or on a particular government security. The major factors affecting the yield is the monetary policy of the Reserve Bank of India, especially the course of interest rates, the fiscal position of the government and its borrowing programme, global markets, economy, and inflation.
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Question 3 of 5
3. Question
1 pointsConsider the following statements fuel prices in India.
- Taxes imposed by the Centre and states are a significant contributor to the price of petrol and diesel that consumers pay in India.
- The base price of the fuel is added with excise and cess levied by the Centre, VAT imposed by the states, and commission to the dealer.
- The base price of the fuel includes only the cost of refinery processing and margins.
- VAT on the fuel is imposed uniformly across all the states.
Which of the above statements is/are correct?
Correct
Solution: c)
Taxes imposed by the Centre and states are a significant contributor to the price of petrol and diesel that consumers pay. To the base price of the fuel (which includes the cost of refinery processing and margins, and oil marketing company margins and cost of freight etc) is added excise and cess levied by the Centre, VAT imposed by the states, and commission to the dealer.
VAT varies from state to state, which accounts for the fact that fuel is more expensive in some states than in others. Rajasthan, Madhya Pradesh, and Andhra Pradesh impose the heaviest VAT burdens among all states in the country.
Incorrect
Solution: c)
Taxes imposed by the Centre and states are a significant contributor to the price of petrol and diesel that consumers pay. To the base price of the fuel (which includes the cost of refinery processing and margins, and oil marketing company margins and cost of freight etc) is added excise and cess levied by the Centre, VAT imposed by the states, and commission to the dealer.
VAT varies from state to state, which accounts for the fact that fuel is more expensive in some states than in others. Rajasthan, Madhya Pradesh, and Andhra Pradesh impose the heaviest VAT burdens among all states in the country.
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Question 4 of 5
4. Question
1 pointsConsider the following statements regarding Intergovernmental Panel on Climate Change (IPCC)
- IPCC is a joint initiative of World Meteorological Organization (WMO) and United Nations Development Programme (UNDP).
- IPCC was established to provide the public scientific information on climate change.
Which of the above statements is/are correct?
Correct
Solution: b)
- Created in 1988 by the World Meteorological Organization (WMO) and the United Nations Environment Programme (UNEP). IPCC reports are also a key input into international climate change negotiations.
- The IPCC is an organization of governments that are members of the United Nations or WMO. Thousands of people from all over the world contribute to the work of the IPCC. The IPCC does not conduct its own research.
The Intergovernmental Panel on Climate Change (IPCC) was established by the United Nations to provide the public scientific information on climate change.
Incorrect
Solution: b)
- Created in 1988 by the World Meteorological Organization (WMO) and the United Nations Environment Programme (UNEP). IPCC reports are also a key input into international climate change negotiations.
- The IPCC is an organization of governments that are members of the United Nations or WMO. Thousands of people from all over the world contribute to the work of the IPCC. The IPCC does not conduct its own research.
The Intergovernmental Panel on Climate Change (IPCC) was established by the United Nations to provide the public scientific information on climate change.
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Question 5 of 5
5. Question
1 pointsConsider the following statements regarding India’s tax system.
- In the last 10 years, India’s Indirect tax-to-GDP ratio is lower that direct tax-to-GDP.
- The average share of direct tax in OECD countries is greater than that in India.
Which of the above statements is/are correct?
Correct
Solution: b)
India’s tax system is regressive with heavy dependence on indirect tax. This would be clear by mapping the gross tax revenue (of both centre and states)-as reproduced below. Indirect-tax-to-GDP ratio remains consistently higher than that of direct tax-to-GDP (2011-12 series, current prices).
In the OECD countries, the average share of direct tax is about two-third of the total tax, while it is a little over one-third in India.
Incorrect
Solution: b)
India’s tax system is regressive with heavy dependence on indirect tax. This would be clear by mapping the gross tax revenue (of both centre and states)-as reproduced below. Indirect-tax-to-GDP ratio remains consistently higher than that of direct tax-to-GDP (2011-12 series, current prices).
In the OECD countries, the average share of direct tax is about two-third of the total tax, while it is a little over one-third in India.
