1. Which Ministry has recently introduced changes to Corporate Social Responsibility (CSR) Rules?
[A] Ministry of Commerce and Industries
[B] Ministry of Social Justice
[C] Ministry of Corporate Affairs Ministry
[D] Ministry of Finance
Show Answer
Correct Answer: C [Ministry of Corporate Affairs Ministry]
Notes:
The Ministry of Corporate Affairs (MCA) has recently introduced several changes to the Corporate Social Responsibility (CSR) Rules.
It includes mandatory “Impact Assessment” for big CSR projects. It also includes mandatory disclosure of all CSR projects and the CSR Committee’s composition on the company’s website.
2. Which country has the highest share in global basmati rice trade?
[A] China
[B] India
[C] Pakistan
[D] Nepal
Show Answer
Correct Answer: B [India]
Notes:
India exported 4.45 million tonnes basmati rice (worth USD 4.33 billion) in financial year 2019-20. It has a 65 per cent share in global basmati trade.
Pakistan makes the rest of the global trade. Recently, Pakistan’s basmati rice has received a Geographical Indication (GI) registration within the country. India has applied to the EU for the GI tag for its basmati rice in September 2020. Both countries are exporting basmati to the EU without a GI tag from it.
3. Who is the chairperson of 15th Finance Commission?
[A] Raghuram Rajan
[B] NK Singh
[C] D Subbarao
[D] YV Reddy
Show Answer
Correct Answer: B [NK Singh]
Notes:
The 15th Finance Commission headed by NK Singh, with 117 core recommendation, has tabled its report in the Parliament recently.
The Finance Commission maintained the vertical devolution of taxes with the states at 41%. The divisible pool of financial resources is recommended at 42%, with 1% adjustment made for change of status. So, the vertical devolution of taxes to the states stands at 41%.
4. As per Union Budget 2021-22, what is the new threshold for paid up capital applicable to ‘small companies’?
[A] Rs.10 lakh
[B] Rs.1 crore
[C] Rs.20 lakh
[D] Rs.2 crore
Show Answer
Correct Answer: D [Rs.2 crore]
Notes:
As per the Union Budget 2021-22, the threshold for paid up capital applicable for Small Companies has been revised from “not exceeding Rs 50 lakh” to “not exceeding Rs 2 crore”.
This enhancement in capital limit is expected to benefit more than 2 lakh small companies and would ease various compliance requirements for them.
5. What is the new FDI limit in insurance companies, as proposed in Union Budget 2021-22?
[A] 26%
[B] 51%
[C] 74%
[D] 100%
Show Answer
Correct Answer: C [74%]
Notes:
The Union Budget 2021-22 contain that the permissible Foreign Direct Investment (FDI) limit in Insurance Companies would be increased from 49% to 74%. Foreign ownership with safeguard would be allowed in this segment.
Insurance Act of 1938 would be amended to make effect to the proposed hike in FDI limit.
6. Syed Mushtaq Ali Trophy is associated with which sport?
[A] Hockey
[B] Cricket
[C] Foot Ball
[D] Golf
Show Answer
Correct Answer: B [Cricket]
Notes:
In this year’s Syed Mushtaq Ali Trophy T20 cricket tournament held at Ahmedabad, Tamil Nadu team defeated Baroda to win the trophy title. Last year Tamil Nadu lost the trophy against Karnataka.
During this year’s tournament, Tamil Nadu remained un beaten till the final match. At the finals, the team chased Baroda’s modest score of 120, with 2 overs and 7 wickets remaining.
7. ‘MITRA’ scheme, which was announced in the recent Union Budget is related to which sector?
[A] Agriculture
[B] Textile
[C] MSME
[D] Banking
Show Answer
Correct Answer: B [Textile]
Notes:
In the Union Budget 2021-22, Finance Minister Nirmala Sitharaman announced a scheme of Mega Investment Textiles Parks (MITRA).
The scheme is to be launched in addition to the Production Linked Incentive (PLI) scheme. It aims to help the industry become competitive, attract investments and boost employment generation. Under the scheme, 7 Textile Parks will be established over 3 years.
8. What is the name of the Global conference being hosted by Kerala State Planning Board?
[A] Global Keralites
[B] Kerala Looks Ahead
[C] Kerala Vision 2021
[D] New Kerala
Show Answer
Correct Answer: B [Kerala Looks Ahead]
Notes:
Kerala Chief Minister Pinarayi Vijayan inaugurated the ‘Kerala Looks Ahead,’ a three-day virtual global conclave.
The conference aims to frame the roadmap for long-term development of the state by reaping opinions from top economists, industry leaders and administrators. Star speakers include Nobel laureate Amartya Sen, WHO Scientist Soumya Swaminathan and top industry leaders.
9. Indian-American Bhavya Lal has been appointed as the acting chief of staff of which organisation?
[A] WHO
[B] NASA
[C] FAO
[D] IMF
Show Answer
Correct Answer: B [NASA]
Notes:
Indian-American Bhavya Lal has been appointed as the acting chief of staff of the US space agency, NASA.
She was earlier serving as a member of the research staff at the Institute for Defence Analyses- Science and Technology Policy Institute (STPI). She had served in several important positions related to space sector.
10. Who is the author of the book titled ‘The Little Book of Encouragement’?
[A] Barack Obama
[B] Bill Gates
[C] Dalai Lama
[D] Aung San Suu Kyi
Show Answer
Correct Answer: C [Dalai Lama]
Notes:
‘The Little Book of Encouragement’ is a book authored by the Tibetan spiritual leader the Dalai Lama recently.
The book includes quotes and words of wisdom to the people, to face the realities of the world posed by the pandemic. It also discusses how to combat extremism, polarity and climate change and his views on Tibet in his new book.
