Banking, Finance & Economy Current Affairs Quiz – February 3,2023
Published: February 3, 2023
1. Who issues the “pay as you drive” insurance policy?
[A] National Stock Exchange
[B] Bajaj excel
[C] New India Assurance
[D] State Bank of India
Correct Answer: C [New India Assurance]
New India Assurance has introduced its Pay as You Drive (PAYD) vehicle insurance policy, which charges premiums based on vehicle usage. This type of insurance, also known as Usage-based insurance (UBI), pay-how-you drive (PHYD), and mile-based auto insurance, is determined by factors such as the type of vehicle, time, distance, behaviour, and location.
2. Which ministry will manage the Indian data management offices?
[A] Ministry of Commerce and Industry
[B] IT ministry
[C] Ministry of Micro, Small and Medium Enterprises
[D] Ministry of Finance
Correct Answer: B [IT ministry]
National Data Governance Policy is a policy introduced by the Government of India (GoI) to manage the usage, security, availability, and integrity of data. The policy was announced in the Union Budget 2023 presentation by Finance Minister Nirmala Sitaraman. The policy will create an Indian Data Management Office (IDMO) under the IT Ministry, which will focus on increasing access to anonymised data safely and securely.
3. What is the Indian government’s budget for the FAME Scheme for the 2023-2024 fiscal year?
[A] Rs 3,000 lakh crores
[B] Rs 5,172 lakh crores
[C] Rs 6,000 lakh crores
[D] Rs 4,500 lakh crores
Correct Answer: B [Rs 5,172 lakh crores]
The Indian government’s top priority from 2023 to 2024 will be green growth. The Indian government budgeted Rs 5,172 lakh crores for the FAME Scheme to eliminate pollution, promote the usage of electric vehicles, and achieve green growth.
4. In the new tax regime, the finance minister proposed reducing the maximum surcharge rate from 37% to what percentage?
[A] 45 per cent
[B] 35 per cent
[C] 25 per cent
[D] 55 per cent
Correct Answer: C [25 per cent]
The finance minister proposed to reduce the highest surcharge rate from 37 per cent to 25 per cent in the new tax regime.
5. What is the budget for the National Green Hydrogen Mission to transition to a low-carbon economy and decrease dependency on fossil fuels?
[A] Rs 19,700 crore
[B] Rs 18,700 crore
[C] Rs 17,700 crore
[D] Rs 16,700 crore
Correct Answer: A [Rs 19,700 crore]
With a budget of Rs 19,700 crore, the recently started National Green Hydrogen Mission will help the country move toward a low-carbon economy and become less reliant on fossil fuel imports.
Category: Banking, Finance & Economy Current Affairs Quiz