Daily UPSC Prelims Current Affairs – May 18-19, 2023 [Mock Test]
May 26, 2023 May 26, 2023
1. Consider the following statements:
- Angel Tax is a tax levied on investments made by external investors in startups.
- Entire investment is taxed subjected to over 30% tax if it is more than the fair market value (FMV).
Which of the statements given above is/are correct?
[A] Only 1
[B] Only 2
[C] Both 1 & 2
[D] Neither 1 nor 2
Show Answer
Correct Answer: A [Only 1]
Notes:- Angel Tax is a tax levied on investments made by external investors in startups.
- They are taxes raised by startups if they exceed the fair market value (FMV).
- Entire investment is not taxed but only the amount that is considered above fair value is taxed.
- Funds from angels are subjected to over 30% tax if it is more than the fair market value (FMV).
2. Consider the following statements regarding United Nations Population Fund:
- It is the United Nations sexual and reproductive health agency.
- Ending gender-based violence and harmful practices is one of its objectives.
- It was created in 1969 to deliver a world where every pregnancy is wanted.
Which of the statements given above are correct?
[A] Only 1 & 2
[B] Only 2 & 3
[C] Only 1 & 3
[D] 1, 2 & 3
Show Answer
Correct Answer: D [1, 2 & 3]
Notes:- United Nations Population Fund (UNFPA) is the United Nations sexual and reproductive health agency.
- Its mission is to deliver a world where every pregnancy is wanted, every childbirth is safe and every young person’s potential is fulfilled.
- The organization was created in 1969.
- In 2018, UNFPA launched efforts to achieve three transformative results, ambitions that promise to change the world for every man, woman and young person:
- Ending unmet need for family planning.
- Ending preventable maternal death.
- Ending gender-based violence and harmful practices.
3. Which of the following is/are the features of Gramdan Act?
- At least 75% of the landowners in the village should surrender land ownership to the village community.
- 50% of the surrendered land is distributed to the landless in the village for cultivation.
- All the cultivators who have joined Gramdan should contribute 10% of their income to the community.
Choose the correct answer using the codes given below:
[A] Only 1
[B] Only 2
[C] Only 1 & 2
[D] 1, 2 & 3
Show Answer
Correct Answer: A [Only 1]
Notes:- At least 75% of the landowners in the village should surrender land ownership to the village community.
- Such land should at least be 60% of the village land.
- 5% of the surrendered land is distributed to the landless in the village for cultivation.
- Recipients of such land cannot transfer the same without the permission of the community.
- The rest remains with the donors; they and their descendants can work on it and reap the benefits.
- However, they cannot sell it outside the village or to one in the village who has not joined Gramdan.
- All the cultivators who have joined Gramdan should contribute 2.5% of their income to the community.
