GK & Current Affairs: March 11, 2014
1. The proposed Good & Services Tax (GST) will subsume which among the following taxes?
1. Income Tax
2. Sales Tax
3. Excise Duty
4. Value Added Tax
Choose the correct option:
[A]1 & 2
[B]2 & 3
[C]2, 3, & 4
[D]2 & 4
2, 3, & 4
Many central and state taxes such as excise duty, service tax, value-added tax, sales tax and luxury tax will be subsumed under a GST. Income Tax is a direct tax, so it is not under GST.
2. In recent times, the term “Single Resolution Mechanism (SRM)” was making news with respect to __?
[C]Federal Reserve (US)
[D]World Trade Organization
The proposed SRM will allow the European Central Bank to directly supervise banks within the Eurozone and other member states choosing to join. This mechanism will allow for troubled banks from sovereign nations to receive bailout funds from the central bank to alleviate the impact on one nation’s bank
3. The National Optic Fibre Network (NOFN) project is to link the optical fibre for offering a 100 mbps broadband service to which among the following levels?
[B]Tehsil / Taluka
The government is likely to extend the deadline for completion of its National Optic Fibre Network (NOFN) project, meant to connect 250,000 gram Panchayats with optical fibre for offering a 100 mbps broadband service.
4. Recently, which among the following committees was making news with respect to its sweeping recommendation on inflation targeting?
[A]C Rangarajan Committee
[B]Urjit Patel Committee
[C]Nachiket Mor Committee
[D]Rakesh Mohan Committee
Urjit Patel Committee
Committee headed by RBI Deputy Governor Urjit Patel, had been formed to strengthen India’s monetary policy framework. It had recommended sweeping changes such as formation of a monetary policy committee and inflation targeting. It suggested RBI primarily target four per cent inflation, with a deviation of 200 basis points. This recommendations has be rejected by the government.
5. The Petrapole-Benapole border checkpoint controls the foreign trade between India and ___?
Petrapole-Benapole border checkpoint is between India and Bangladesh in North 24 Parganas district of West Bengal. Out of them, Petrapole is on Indian side and Benapole is on Bangladesh side. Petrapole is also the largest land customs station in Asia.
6. At present, which among the following states in India leads in total solar power commissioned capacity ?
Gujarat is ahead with a solar power commissioned capacity of 860.4 Mw. Other states are also picking up. Rajasthan has 666.75 Mw installed and Madhya Pradesh is gaining ground at 195.315 Mw.
7. What is the current (2012-13 data) national average for infant mortality rate (IMR) in India per 1000 live births?
The national average for infant mortality rate is 42 deaths, while the millennium development goal for this is 29.
8. According to the Annual Health Survey (2012-13) released by the Office of Registrar General & Census Commissioner, which among the following states of India has highest IMR (Infant Mortality Rate)?
At 36 deaths/1,000 live births, Jharkhand recorded the lowest infant mortality rate, while at 68, and UP had the highest.
9. What is the name of the apex decision-making body of the Employees’ Provident Fund Organisation (EPFO)?
[A]National Provident Fund Authority
[B]Employees’ Provident Fund Board of India
[C]Central Board of Trustees
[D]Employees’ Provident Fund Council
Central Board of Trustees
10. The Purchasing Managers’ Index (PMI) is a venture of ___?
[D]EXIM Bank of India