Current Questions

Indian Economy :

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?

RBI’s Penalties On Payment Solution Providers

Recently, Reserve bank of India (RBI) has imposed penalty on which of the following two online payment solutions provider?

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)?

WTO-Compliant Export Promotion Scheme

Consider the following statements regarding the newly proposed World Trade Organization (WTO)-Compliant Export Promotion Scheme:

  1. The government proposed a World Trade Organization (WTO)-Compliant Export Promotion Scheme along with a production based support scheme to boost Make in India.
  2. It is one of the 100-days agenda of the Modi 2.0 government.
  3. The new export promotion scheme may replace the existing Merchandise Export from India Scheme (MEIS) as the US has challenged India’s existing export subsidy schemes at the WTO on the grounds of its incompatibility with multilateral rules.
  4. It will be on the nature of refund of all un-rebated central and state taxes and levies scheme on inputs consumed in exports in all sectors.

Which of the given statements is/are correct?

ATM Pricing

Recently, the Reserve Bank of India (RBI) constituted an expert to review the ATM Interchange Fee. Who among the following is the head of the expert group?

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