Current Affairs Questions

Indian Economy:

Foreign Portfolio Investment

Consider the following statements with reference to the Foreign portfolio investment (FPI):

  1. Foreign portfolio investment consists of securities and other financial assets passively held by foreign investors.
  2. It does not require any transfer of IP, technology or know-how.
  3. Portfolio investments are more accessible for the average investor than direct investments because they require much less investment capital and research.

Which of the statement(s) is/are correct?


Biomethanation

Consider the following statements with reference to the Biomethanation:

  1. It is a process by which organic material is microbiologically converted under aerobic conditions to biogas.
  2. Three basic groups of microorganisms are used in Biomethanation - fermenting bacteria, organic acid oxidizing bacteria, and methanogenic archaea.
  3. Unlike other kinds of waste treatment processes, this process is completely self-sufficient and doesn’t require an external power source.

Which of the statement(s) given is/are correct?


Forest Rights Act, 2006

Consider the following statements with reference to the Forest Rights Act, 2006:

  1. The Act recognizes and vests the forest rights and occupation in Forest land in forest Dwelling Scheduled Tribes (FDST) and Other Traditional Forest Dwellers (OTFD) who have been residing in such forests for generations.
  2. The Act identifies three types of Rights: Title Rights, Use Rights and Relief and Development Rights.
  3. Under the Act, Forest Rights can also be claimed by any member or community who has for at least three generations (75 years) prior to the 13th day of December, 2005 primarily resided in forest land for bona fide livelihood needs.

Which of the statement(s) given above is/are correct? Choose the correct answer from the code given below:


Border Adjustment Tax

Consider the following statements with reference to the Border Adjustment Tax (BAT):

  1. Border adjustment tax is a value-added tax on imported goods and is also referred to as a border-adjusted tax, destination tax or border tax adjustment.
  2. BAT levies a tax depending on where a good is consumed rather than where it is produced.
Choose the correct answer from the codes given below:


The Ways And Means Advances (WMA) Scheme

Consider the following statements:

  1. The Ways and Means Advances (WMA) scheme is designed to meet temporary mismatches in the receipts and payments of the government.
  2. Under this, the government can avail of immediate cash from the RBI, if required. But it has to return the amount within 60 days.
  3. Interest rate for WMA is currently charged at the repo rate.
Choose the correct answer from the codes given below:

Dividend Distribution Tax

Consider the following statements with reference to the Dividend Distribution Tax(DDT):

  1. The Dividend Distribution Tax is a tax levied on dividends that a company pays to its shareholders out of its profits.
  2. Under Section 115-O, the Income Tax Act, any domestic firm which is declaring or distributing dividend has to pay DDT at the rate of 15 percent on the gross amount of dividend.
  3. The tax has to be paid to the government within 24 days of the dividend declaration, distribution or payment whichever is earliest.

Which of the statement(s) given above is/are correct?


Alternative Investment Fund

Recently, the Union Cabinet has approved the creation of an Alternative Investment Fund (AIF) to provide last-mile funding for stalled affordable and middle-income housing projects across the country. Consider the following given statements about the AIF:

  1. In India, AIFs are defined in Regulation 2(1) (b) of Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012.
  2. AIF can be established in the form of a company or a corporate body or a trust or a Limited Liability Partnership (LLP).
  3. Private equity or venture capital, hedge funds, real property, commodities, and tangible assets are all examples of alternative investments.

Choose the correct answer from the codes given below:


Eight Core Industries

According to recent government data, growth of eight core industries has been slowed down to 2.1 percent in July, 2019 as against 7.3 percent in the same month last year. Considerthe following statements regarding eight core industries:

  1. The eight core sector industries consist of coal, crude oil, natural gas, refinery products, fertiliser, steel, textile and food processing.
  2. These core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).

Choose the correct answer from the codes given below:


India’s 7th Economic Census

From which of the following state, India’s 7th Economic census begun recently?


Committee To Review Economic Capital Framework

Who among the following is the head of the committee constituted by the government in December, 2018, to review the Economic Capital Framework of the Reserve Bank of India (RBI)?


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