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The Current Affairs questions are based on sources like ‘The Hindu’, ‘Indian Express’ and ‘PIB’, which are very important sources for UPSC Prelims Exam. The questions are focused on both the concepts and facts. The topics covered here are generally different from what is being covered under ‘Daily Current Affairs/Daily News Analysis (DNA) and Daily Static Quiz’ to avoid duplication. The questions would be published from Monday to Saturday before 2 PM. One should not spend more than 10 minutes on this initiative.
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Consider the following
Which of the following mentioned above fall under the highest tax slab under Goods and Services Tax?
Solution(a)
Goods and services are divided into five different tax slabs for collection of tax: 0%, 5%, 12%, 18% and 28%. In addition a cess of 22% or other rates on top of 28% GST applies on few items like aerated drinks, luxury cars and tobacco products. However, petroleum products, alcoholic drinks, and electricity are not taxed under GST and instead are taxed separately by the individual state governments, as per the previous tax system.
Source: https://www.thehindu.com/opinion/op-ed/revive-tax-increases-stub-out-tobacco-product-use/article65205393.ece
Solution(a)
Goods and services are divided into five different tax slabs for collection of tax: 0%, 5%, 12%, 18% and 28%. In addition a cess of 22% or other rates on top of 28% GST applies on few items like aerated drinks, luxury cars and tobacco products. However, petroleum products, alcoholic drinks, and electricity are not taxed under GST and instead are taxed separately by the individual state governments, as per the previous tax system.
Source: https://www.thehindu.com/opinion/op-ed/revive-tax-increases-stub-out-tobacco-product-use/article65205393.ece
Consider the following statements regarding ‘Bangladesh, Bhutan, India, Nepal (BBIN) Initiative’
Select the correct statement/s
Solution(b)
Statement Analysis:
Statement 1 | Statement 2 | Statement 3 |
Incorrect | Correct | Incorrect |
The Bangladesh, Bhutan, India, Nepal (BBIN) Initiative is a sub-regional architecture of countries in Eastern South Asia, a subregion of South Asia. It is not a grouping within SAARC. | The BBIN Motor Vehicles Agreement (MVA) was signed on 15 June 2015 at the BBIN transport ministers meeting in Thimpu, Bhutan. The agreement will permit the member states to ply their vehicles in each other’s territory for transportation of cargo and passengers, including third country transport and personal vehicles. Each vehicle would require an electronic permit to enter another country’s territory, and border security arrangement between nations’ borders will also remain | Delhi declaration is related to Afghanistan. It does not come under BBIN. |
Source: https://www.thehindu.com/news/national/bangladesh-india-nepal-move-ahead-on-motor-vehicle-agreement-project/article65205145.ece
Solution(b)
Statement Analysis:
Statement 1 | Statement 2 | Statement 3 |
Incorrect | Correct | Incorrect |
The Bangladesh, Bhutan, India, Nepal (BBIN) Initiative is a sub-regional architecture of countries in Eastern South Asia, a subregion of South Asia. It is not a grouping within SAARC. | The BBIN Motor Vehicles Agreement (MVA) was signed on 15 June 2015 at the BBIN transport ministers meeting in Thimpu, Bhutan. The agreement will permit the member states to ply their vehicles in each other’s territory for transportation of cargo and passengers, including third country transport and personal vehicles. Each vehicle would require an electronic permit to enter another country’s territory, and border security arrangement between nations’ borders will also remain | Delhi declaration is related to Afghanistan. It does not come under BBIN. |
Source: https://www.thehindu.com/news/national/bangladesh-india-nepal-move-ahead-on-motor-vehicle-agreement-project/article65205145.ece
‘Jharokha’ a pan India programme held recently aims to promote
Solution(b)
As part of the Azadi ka Amrit Mahotsav Ministry of Culture and Ministry of Textiles are organizing “Jharokha-Compendium of Indian handicraft/ handloom, art and culture”. It will be a PAN India celebration which will be held at 16 locations in 13 states and UTs. Jharokha is acelebration of the traditional Indian handicrafts, handlooms, and art & culture. The first event under this celebration is being organized in Bhopal, Madhya Pradeshstarting from 8th March 2022 on the occasion of International Women’s Day. It will be organized at Rani Kamlapati Railway Station which is named after the brave and fearless Queen Kamlapati of the Gond kingdom of Madhya Pradesh.
Source: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1803810
Solution(b)
As part of the Azadi ka Amrit Mahotsav Ministry of Culture and Ministry of Textiles are organizing “Jharokha-Compendium of Indian handicraft/ handloom, art and culture”. It will be a PAN India celebration which will be held at 16 locations in 13 states and UTs. Jharokha is acelebration of the traditional Indian handicrafts, handlooms, and art & culture. The first event under this celebration is being organized in Bhopal, Madhya Pradeshstarting from 8th March 2022 on the occasion of International Women’s Day. It will be organized at Rani Kamlapati Railway Station which is named after the brave and fearless Queen Kamlapati of the Gond kingdom of Madhya Pradesh.
Source: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1803810
Consider the following statements
Choose the correct statement/s
Solution(d)
Statement Analysis:
Statement 1 | Statement 2 |
Incorrect | Incorrect |
The Reserve Bank of India (RBI) on Tuesday conducted a $ 5 billion dollar-rupee swap auction as part of its liquidity management initiative, leading to infusion of dollars and sucking out of the rupee from the financial system. The central bank’s move will reduce the pressure on inflation and strengthen the rupee. | The central bank sells dollars, it sucks out an equivalent amount in rupees, thus reducing the rupee liquidity in the system. The RBI normally brings down liquidity in the system when inflation threatens to rise sharply. |
Source: https://indianexpress.com/article/explained/explained-what-does-rbis-5-bn-dollar-rupee-swap-mean-7808158/
Solution(d)
Statement Analysis:
Statement 1 | Statement 2 |
Incorrect | Incorrect |
The Reserve Bank of India (RBI) on Tuesday conducted a $ 5 billion dollar-rupee swap auction as part of its liquidity management initiative, leading to infusion of dollars and sucking out of the rupee from the financial system. The central bank’s move will reduce the pressure on inflation and strengthen the rupee. | The central bank sells dollars, it sucks out an equivalent amount in rupees, thus reducing the rupee liquidity in the system. The RBI normally brings down liquidity in the system when inflation threatens to rise sharply. |
Source: https://indianexpress.com/article/explained/explained-what-does-rbis-5-bn-dollar-rupee-swap-mean-7808158/
Consider the following statements
Choose the answer using the code given below
Solution(d)
Statement Analysis:
Statement 1 | Statement 2 | Statement 3 |
Incorrect | Incorrect | Incorrect |
India is the world’s third largest energy consuming country and the second largest importer of coal after China | Mineral Concession (Amendment) Rules, 1960 under MMDR (Amendment) Act, 2021 allows lessee of captive mines to sell coal or lignite up to 50% of the total excess production after meeting the requirements of the end- use plant | Coal supplies over 40% of energy in India. Around 30% of coal is imported. Due to high demand and poor average quality, India imports coking coal to meet the requirements of its steel plants. The electricity sector is the largest consumer of raw coal in India. |
Source: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1803928
Solution(d)
Statement Analysis:
Statement 1 | Statement 2 | Statement 3 |
Incorrect | Incorrect | Incorrect |
India is the world’s third largest energy consuming country and the second largest importer of coal after China | Mineral Concession (Amendment) Rules, 1960 under MMDR (Amendment) Act, 2021 allows lessee of captive mines to sell coal or lignite up to 50% of the total excess production after meeting the requirements of the end- use plant | Coal supplies over 40% of energy in India. Around 30% of coal is imported. Due to high demand and poor average quality, India imports coking coal to meet the requirements of its steel plants. The electricity sector is the largest consumer of raw coal in India. |
Source: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1803928