Quiz 3

                                Quiz 3

Q1. Fiscal deficit in the first nine months of 2016-17 touched _________ of the Budget estimate. 

(a) 80.5%

(b) 68.1%

(c) 72.3%

(d) 84.8%

(e) 93.9%

Q2. Who has been appointed as the new Central Bureau of Investigation (CBI) Director?

(a) Niraj Kumar

(b) Alok Verma

(c) Ranjit Kumar Sinha

(d) BS Bassi

(e) None of the given options is true

Q3. The UN children's agency UNICEF has launched an appeal for USD _____________ to help 48 million children caught up in crises worldwide amid fears of a funding cut from top donor the United States. 

(a) USD 5.1 billion

(b) USD 10.7 billion

(c) USD 15.5 billion

(d) USD 3.3 billion

(e) None of the given options is true

Q4. In a major step, Finance Minister Arun Jaitley has announced the reduction of the existing rate of taxation for individuals with income ranging between Rs 2.5 lakh to Rs 5 lakh to _________ instead of 10%. 

(a) 6% 

(b) 7%

(c) 5%

(d) 8%

(e) 9%

Q5. Which among the following states have Winners of Excellence eGov awards, Instituted by the Computer Society of India’s (CSI) Special Interest Group with sponsorship from Nihilent Technologies?

(a) Rajasthan and Telangana

(b) Odisha and Nagaland

(c) Andhra Pradesh and Karnataka

(d) Kerala and West Bengal

(e) Maharashtra and Gujarat

Q6. How much surcharge for those whose annual income is Rs 50 lakh to Rs 1 crore, announced by Finance Minister Arun Jaitley in the Union Budget 2017-18?

(a) 5%

(b) 10%

(c) 15%

(d) 20%

(e) None of the given options is true

Q7. Name the Former Union Minister, who has been passed away due to a cardiac arrest recently.

(a) Ashfaq Karim 

(b) SM Krishna

(c) Veerappa Moily

(d) Mallikarjun Kharge

(e) E Ahamed

Q8. Finance Minister Arun Jaitley has pegged the total expenditure of budget 2017-18 at Rs ___________ lakh crore.

(a) Rs 21.47 lakh crore

(b) Rs 10.35 lakh crore

(c) Rs 55.47 lakh crore

(d) Rs 37.12 lakh crore

(e) None of the given options is true

Q9. In which among the following state, the Union Minister for Panchayati Raj and Rural Development, Narendra Singh Tomar has stated that the Ministry of Defence is set to open its Defence Unit recently?

(a) West Bengal

(b) Gujarat

(c) Madhya Pradesh

(d) Kerala

(e) Rajasthan

Q10. How much amount will allocate for Pradhan Mantri Gram Sadak Yojana (PMGSY) in union budget 2017-18?

(a) Rs. 15,000 crore

(b) Rs. 37,435 crore

(c) Rs. 55,000 crore

(d) Rs. 19,000 crore

(e) Rs. 64,000 crore

Q11. Which among the following countries has become the first country in the world to divest coal, oil and gas investments from Ireland Strategic Investment Fund?

(a) Ireland

(b) Denmark

(c) Norway

(d) Switzerland

(e) China

Q12. Start-up firm E-paathsala has launched an integrated accreditation and ERP technology solution for the colleges and universities to enable them better manage their multiple accreditation standards in an easy, efficient and fast manner and bridge the gap identified for specific accreditations. E-paathsala is based in-

(a) Hyderabad

(b) Bengaluru

(c) Chennai

(d) Kolkata

(e) New Delhi

Q13. Which among the following countries has introduced a legislation by making it mandatory to raise the minimum salary of the H-1B visa holders to more than double at USD 1,30,000 from the previous USD 60,000?

(a) Japan

(b) Canada

(c) USA

(d) France 

(e) Italy

Q14. NABARD has hailed the increased focus on irrigation and dairy sectors in the Budget which has hiked the corpus of long-term irrigation fund by another Rs 20,000 crore, taking the total fund size to how much amount?

(a) Rs 60,000 crore

(b) Rs 50,000 crore

(c) Rs 30,000 crore

(d) Rs 40,000 crore

(e) None of the given options is true

Q15. Name the Operation, which has been launched by Income Tax Department to verify the cash deposited in the banks during November 09th to December 30th, 2016?

(a) Operation Clean India

(b) Operation Clean Commerce

(c) Operation Clean Economy

(d) Operation Clean Cash

(e) Operation Clean Money

Solutions

S1. Ans.(e)
Sol. Fiscal deficit in the first nine months of 2016-17 touched 93.9 per cent of the Budget target against 87.9 per cent for the same period a year ago.

S2. Ans.(b)
Sol. Former Delhi Police Commissioner Alok Verma took charge as the new CBI Director. He will hold the charge of the premier investigating agency for a period of two years. A 1979-batch IPS officer, Mr Verma was selected by a three-member committee comprising Prime Minister Narendra Modi, Chief Justice J S?Khehar and Senior Congress leader Mallikarjun Kharge.

S3. Ans.(d)
Sol. The UN children's agency UNICEF has launched an appeal for USD 3.3 billion to help 48 million children caught up in crises worldwide amid fears of a funding cut from top donor the United States. 

S4. Ans.(c)
Sol. In a major step, Finance Minister Arun Jaitley has announced the reduction of the existing rate of taxation for individuals with income ranging between Rs 2.5 lakh to Rs 5 lakh to 5% instead of 10%.

S5. Ans.(a)
Sol. This year (2017), under the State category, Rajasthan and Telangana emerged Winners of Excellence while the Award of Recognition went to Odisha and Nagaland. Instituted by the Computer Society of India’s (CSI) Special Interest Group with sponsorship from Nihilent Technologies, these awards help recognise the efforts of eGovernance practitioners from across central and state departments, projects and in district administrative units as well.

S6. Ans.(b)
Sol. In a major step, Finance Minister Arun Jaitley has announced there will be a surcharge of 10% for those whose annual income is Rs 50 lakh to Rs 1 crore.

S7. Ans.(e)
Sol. Former Union Minister E Ahamed, who collapsed in parliament, has passed away. He was 78. Mr Ahamed was admitted at Delhi's Ram Manohar Lohia (RML) hospital after he suffered a cardiac arrest while both houses of parliament were being jointly addressed by President Pranab Mukherjee.

S8. Ans.(a)
Sol. Finance Minister Arun Jaitley has pegged the total expenditure of budget 2017-18 at Rs 21.47 lakh crore.

S9. Ans.(c)
Sol. The Union Minister for Panchayati Raj and Rural Development, Narendra Singh Tomar has stated that the Ministry of Defence is set to open its Defence Unit in Morena district of Madhya Pradesh. The unit would be set up in Kailaras and Sabalgarh tehsil areas and span over 969.735 hectare of land at a cost of Rs. 1500 crore.

S10. Ans.(d)
Sol. In the Union Budget 2017-18 Rs 19,000 crore Will allocate for Pradhan Mantri Gram Sadak Yojana (PMGSY).

S11. Ans.(a)
Sol. Ireland has become the first country in the world to divest coal, oil and gas investments from Ireland Strategic Investment Fund. The bill was passed in the Irish parliament by gaining 53 votes out of 90. It was introduced by Deputy Thomas Pringle.

S12. Ans.(b)
Sol. Bangaluru based Start-up firm E-paathsala has launched an integrated accreditation and ERP technology solution for the colleges and universities to enable them better manage their multiple accreditation standards in an easy, efficient and fast manner and bridge the gap identified for specific accreditations.

S13. Ans.(c)
Sol. The US House of Representatives has introduced a legislation by making it mandatory to raise the minimum salary of the H-1B visa holders to more than double at USD 1,30,000 from the previous USD 60,000. If the legislation is passed, it would highly impact American companies as they may face difficulty in replacing the American employees with foreign workers including IT professionals from India.The High-Skilled Integrity and Fairness Act of 2017 introduced by California Congressman Zoe Lofgren prioritises market based allocation of visas to those companies willing to pay 200% of a wage calculated by survey, eliminates the category of lowest pay, and raises the salary level at which H1B dependent employer are exempt from non displacement and recruitment attestation requirements to greater than $130,000.

S14. Ans.(d)
Sol. NABARD has hailed the increased focus on irrigation and dairy sectors in the Budget which has hiked the corpus of long term irrigation fund by another Rs 20,000 crore, taking the total fund size to Rs 40,000 crore. “The Budget focuses a lot on the rural and agriculture sector. Though the thrust on digital continues, reforms announced in the Budget will generate employment and help in doubling farmers income,” chairman, NABARD Harsh Kumar Bhanwala told PTI.

S15. Ans.(e)
Sol. Income Tax Department (ITD) has initiated Operation Clean Money. Initial phase of the operation involves e-verification of large cash deposits made during 09th November to 30th December 2016. Data analytics has been used for comparing the demonetisation data with information in ITD databases. In the first batch, around 18 lakh persons have been identified in whose case, cash transactions do not appear to be in line with the tax payer’s profile.