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Current Affairs for IAS Prelims Exam 2017: 20 April 2017

Apr 20, 2017 12:24 IST

Current Affairs Quiz

The given current affairs quizzes will give IAS aspirants an idea of the recent trend of asking questions in the IAS Prelims Exam. The IAS aspirants must go through the articles provided by us on a daily basis will give them strength to the IAS preparation.

Current Affairs for IAS Prelims Exam: 8 to 14 April 2017

1. Pradhan Mantri Garib Kalyan Deposit Scheme has been recently in the news. Consider the following statement regarding the Pradhan Mantri Garib Kalyan Deposit Scheme:
I. Pradhan Mantri Garib Kalyan Yojana, 2016 (PMGKY) is an amnesty scheme launched by the Prime Minister, Narendra Modi in December 2016 on the lines of the Income declaration scheme, 2016 (IDS) launched.
II. A part of the Taxation Laws (Second Amendment) Act, 2016, the scheme provides an opportunity to declare unaccounted wealth and black money in a confidential manner and avoid prosecution after paying a fine of 50% on the undisclosed income.

Which of the following statement(s) is/are correct?
a. Only I
b. Only II
c. Both I and II
d. Neither I nor II

Answer: c

Explanation:

The Taxation Laws (Second Amendment) Act, 2016 and the Pradhan Mantri Garib Kalyan Deposit (PMGKD) Scheme, 2016 (the scheme), earlier proposed on 29 November 2016, became effective on 17 December 2016 and will be in force until 31 March 2017.

This scheme is another opportunity given by Government of India (GOI) to come clean by declaring any undisclosed income in the form of cash or deposit in an account maintained by specified entities by a person. (Refer our alert on 29 November 2016 for background of the scheme proposed by GOI).Based on the scheme, any person can declare undisclosed income by paying tax at the rate of 49.9% (i.e., tax at 30% of income, surcharge at 33% of tax, a penalty at 10% of income) of the declared undisclosed income. Also, it is mandatory to make a deposit of at least 25% of the declared undisclosed income, yielding no interest, with a lock- in period of four years.

Current Affairs for IAS Prelims 2017- March 2017

2. The Channakeshava temple in Belur turned 900 this year. Which of the following statements is true regarding this temple?
1) The Channakeshava temple in Belur is a masterpiece of Chola architecture.
2) Chennakesava is a form of the Hindu god Vishnu.
3) This temple has been proposed to be listed under UNESCO World Heritage Sites.

Which of the above statements is true?
a. 1 and 2
b. 2 and 3
c. 1 and 3
d. 1, 2 and 3

Answer: b

Explanation:

The Chennakeshava Temple originally called Vijayanarayana Temple was built on the banks of the Yagachi River in Belur, by the Hoysala King Vishnuvardhana. Belur, which was an early Hoysala capital, is in the Hassan district of Karnataka state, India.

Belur is well known for its marvellous temples built during the rule of the Hoysala dynasty, making it and nearby Halebidu favoured tourist destinations in Karnataka state. These temple complexes have been proposed to be listed under UNESCO World Heritage Sites.

Current Affairs Quizzes of February 2017

3. Consider the following statements regarding the  summary of the forecast for the 2017 south-west monsoon rainfall issued by Indian Meteorological Department (IMD):
1) Quantitatively, the monsoon seasonal rainfall is likely to be 96% of the Long Period Average (LPA).
2)  Forecast assessment suggests 38% of probability for near normal monsoon rainfall.

Which of the above statements is true?
a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2

Answer: c

Explanation:

The first stage forecast of Southwest monsoon seasonal rainfall was issued by Indian Meteorological Department (IMD) recently. IMD has forecast that quantitatively, the monsoon seasonal rainfall is likely to be 96% of the Long Period Average (LPA) with an error of ± 5%. Forecast assessment suggests 38% of probability for near normal monsoon rainfall.
IMD issues various monthly and seasonal forecasts of rainfall for the south-west monsoon season. Operational forecasts for the south-west monsoon season rainfall are issued in two stages. These forecasts are prepared using state-of-the-art Statistical Ensemble Forecasting system (SEFS) that is critically reviewed and improved regularly through in-house research activities.

Since 2012, IMD has been using the dynamical global climate forecasting system (CFS) model, which was developed under the Monsoon Mission. The CFS model was further modified to provide improved rainfall forecasts over the Indian monsoon region through research efforts taken up under the Monsoon Mission.

ECONOMIC SURVEY 2016-17 IMPORTANT QUESTIONS

4. Recently, the Union Cabinet of India has given its approval for signing of a Protocol amending the Convention for the avoidance of double taxation with which of the following countries of India?
a. Portugal
b. Australia
c. Malaysia
d. All of the above

Answer: a

Explanation:

Recently, the Union Cabinet has given its approval for signing of a Protocol amending the Convention between India and Portugal for the avoidance of double taxation. The Protocol will also ensure prevention of fiscal evasion with respect to taxes on income.

Once the Protocol enters into force, both India and Portugal would be able to exchange tax-related information, which will help tax authorities of both countries to curb tax evasion.

Union Budget 2017 Questions for IAS Exam

5. Recently, the Union Cabinet approves permission to avail external assistance by State Government entities from bilateral agencies for implementation of vital infrastructure projects. Consider the following statements regarding the guidelines issued by the Government regarding this:
I. The guidelines will facilitate the State Government entities to directly borrow from the external bilateral funding agencies subject to fulfilment of certain conditions.
II. All the repayments of loans and interests to the funding agencies will be directly remitted by the concerned borrower.
III. The concerned State Government will furnish guarantee for the Loan and the Government of India will provide a counter guarantee for the loan.

Which of the following statement(s) is/are correct?
a. Only I
b. I and II
c. II and III
d. All of the above

Answer: d

Explanation:
Recently, the Union Cabinet has approved the policy guidelines to allow financially sound State Government entities to borrow directly from bilateral ODA (Official development Assistance) partners for implementation of vital infrastructure projects.

External assistance presently plays a supportive role in financing major infrastructure projects, social sector projects and in building up institutional capacity. The role of external assistance has gained further significance in view of the large gap in funding requirements for major infrastructure projects implemented by the State Governments in order to acquire competitive strength under the globalised economic framework.

Current Affairs Quizzes 2016 for IAS Prelims 2017

Highlights
  • Citing safety concerns, non-Kashmiri students demand
  • They are also calling for action against cops who lathicharged students
  • NIT campus has been tense since students clashed over Indias T20 defeat

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