21. Business confidence index is released in a quarterly survey conducted by which Indian institution?
[A] NITI Aayog
[B] National Council for Applied Economic Research
[C] Observer Research Foundation
[D] Centre for Public Policy Research
Show Answer
Correct Answer: B [National Council for Applied Economic Research]
Notes:
India’s leading economic think tank, National Council for Applied Economic Research (NCAER) conducts a quarterly survey and releases Business confidence index (N-BCI).
NCAER has recently released its recent quarterly business confidence index, conducted in March. As per the survey, the index fell to 77.3 which is the lowest since 1998 Asian Financial crisis. In the third quarter, the index was 111.2.
22. In context with the recent modification done in the foreign direct investment (FDI) policy of India, the entity of which country should invest only under the government route?
[A] China
[B] Pakistan
[C] Bangladesh
[D] All countries sharing land border with India
Show Answer
Correct Answer: D [All countries sharing land border with India]
Notes:
The Department for Promotion of Industry and Internal Trade (DPIIT) has recently released a press note regarding modification done in the Foreign direct investment (FDI) policy of India, as a part of its effort to restrict take-over of Indian companies amid Covid-19 pandemic.
As per the new changes, an entity of a country which shares a land border with India can invest only under the government route, which means the entities can invest only after receiving the approval of the Indian Government. Prior to this, investments from Pakistan and Bangladesh were only under Government route.
23. As per the recent judgement of the Supreme Court, which category of banks may also be included under SARFAESI Act?
[A] Regional Rural Banks
[B] Cooperative Banks
[C] Small Finance Banks
[D] Local Area Banks
Show Answer
Correct Answer: B [Cooperative Banks]
Notes:
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, allow banks and financial institutions to auction properties, when borrowers fail to repay their loans.
Recently as per the judgement of the Supreme Court, the cooperative banks that are involved in the banking activities are considered as a ‘banking company’. Hence the SARFAESI act may be modified to include the procedure of loan recovery by cooperative banks.
24. What is the new borrowing target of the government for the current financial year, after the gross market borrowing target has been raised from the budget estimate?
[A] Rs. 9 lakh crore
[B] Rs 10 lakh crore
[C] Rs 12 lakh crore
[D] Rs 15 lakh crore
Show Answer
Correct Answer: C [Rs 12 lakh crore]
Notes:
The government has recently raised its gross market borrowing target for the current financial year to Rs 12 lakh crore.
As per the latest budget estimate, the target was Rs 7.8 lakh crore for the current fiscal year. The increase in the target accounts for more than 50% increase from the estimate. The decision has been taken at the backdrop of the Covid-19 outbreak that has crippled the economy. Lower tax collections and the fiscal stimulus required are the reasons for the increased borrowing.
25. The India International Exchange Limited (India INX), that was seen in news recently, is a subsidiary of which Indian stock exchange?
[A] National Stock Exchange of India (NSE)
[B] Bombay Stock Exchange (BSE)
[C] Calcutta Stock Exchange
[D] United Stock Exchange of India
Show Answer
Correct Answer: B [Bombay Stock Exchange (BSE)]
Notes:
India International Exchange Limited (India INX) is India’s first international stock exchange located in Gujarat International Finance Tec-City (GIFT) city and is a subsidiary of Bombay Stock Exchange (BSE).
Recently the Union Finance Minister launched INR-USD futures and options contracts on the two international exchanges — BSE’s India INX and NSE’s NSE-IFSC, at GIFT city, Gandhinagar. This decision of allowing rupee derivatives will bring the rupee trading to our country, which are presently dominated by exchanges in Dubai and Singapore.
26. As per the 3rd Advance Estimates of production of major crops for 2019-20, what is the estimated total food-grain production in India?
[A] 237.67 million tonnes
[B] 258.67 million tonnes
[C] 279.67 million tonnes
[D] 295.67 million tonnes
Show Answer
Correct Answer: D [295.67 million tonnes]
Notes:
The Ministry of Agriculture and Farmers Welfare recently released the 3rd Advance Estimates of production of major crops for 2019-20.
As per the estimates, the total food-grain production in the country is estimated at record 295.67 million tonnes in the 2019-20 crop year. This projected production is higher by 10.46 million tonnes from previous year. The total production of Rice and Wheat during 2019-20 is estimated at around 118 million tonnes and 107 million tonnes respectively.
27. The Electricity distribution companies in which category of territories are proposed to be privatised, as a part of the Economic Stimulus package?
[A] Hilly states
[B] North-Eastern states
[C] Union Territories
[D] Coastal states
Show Answer
Correct Answer: C [Union Territories]
Notes:
As a part of the economic stimulus package, the Union Finance Minister proposed that the Electricity distribution companies (Discoms) in the Union Territories (UTs) would be privatised.
As of now, Delhi is the only Union Territory which has private power Discoms namely Reliance Infrastructure’s BSES and Tata Power Delhi Distribution. Earlier, the draft amendments to the Electricity Act, 2003 were announced, which included the proposal of private participation in electricity distribution.
28. What is the additional allocation in the MGNREGS scheme for 2020-21, as announced by the Union Finance Minister?
[A] Rs 10000 Crore
[B] Rs 25000 Crore
[C] Rs 40000 Crore
[D] Rs 50000 Crore
Show Answer
Correct Answer: C [Rs 40000 Crore]
Notes:
In its effort to boost the economy and provide work to migrants returning from other states to home villages, the Central government allocated an additional Rs 40,000 crore to the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) for 2020-21.
In the Union Budget 2020-21, the total allocation made for MGNREGS was Rs 61500 Crore. Hence with this additional fund, the total allocation of this scheme for the present year becomes Rs 1.015 trillion. Out of the total fund, Rs 11,500 crore has to be spent on clearing pending dues from the previous year.
29. Google, along with which technology company has released their collaborative application programming interface (API) for contact tracing?
[A] Apple
[B] Microsoft
[C] Amazon
[D] Facebook
Show Answer
Correct Answer: A [Apple]
Notes:
Apple and Google have made the application programming interface (API), developed for contact tracing available to the general public.
The APIs will be made available through publicly available software updates and only public health authorities could use the APIs to build contact tracing apps. As per their announcement, as many as 22 countries have requested and received access to the API so far. They also promised that the API would be destroyed once the pandemic is over and when contact-tracing apps are no longer required.
30. The Reserve Bank of India has extended the Rs 15000 Crore refinance facility that was granted earlier, to which All-India Financial institution?
[A] NABARD
[B] SIDBI
[C] NHB
[D] None of the above
Show Answer
Correct Answer: B [SIDBI]
Notes:
The Reserve Bank of India Governor Shaktikanta Das recently announced that the central bank has decided to roll over (extend) the Rs 15000 Crore refinance facility provided to SIDBI (Small Industries Development Bank of India).
The roll over is to be provided for 90 more days, from the at the end of the 90th day. RBI also announced to extend a line of credit of Rs 15,000 crore to the EXIM Bank for a period of 90 days from the date of availing, with rollover up to a maximum period of one year. EXIM Bank will use this to avail US dollar swap facility for its forex requirement.
