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Current Affairs for IAS Prelims Exam 2017: 27 March 2017

Mar 27, 2017 12:42 IST

current affairs 27 March

The current affair preparation is the most vital part of IAS prelims as well as IAS mains Exam. In IAS prelims preparation, all subjects like polity, geography, and economics should be read complimentary to the current happenings related to its subject matter.  Here, we cover important issues from the most authentic sources like the Hindu and Press Trust of India.

Current Affairs for IAS Prelims Exam 2017: 24 March 2017

We will continue to provide the current affairs questions for IAS Prelims 2017 to help you gain a better perception of how questions can be asked in the examination.

1. Recently, Competition Commission of India (CCI) has imposed a penalty of upon Coal India Limited (CIL) on finding that it has imposed unfair and discriminatory conditions in Fuel Supply Agreements (FSAs). Consider the following statements regarding the CCI:

1) The objectives of the Competition Act, 2002 are sought to be achieved through the Competition Commission of India (CCI),
2) CCI consists of a Chairperson and 6 Members appointed by the Central Government.
3) The Commission is also required to give an opinion on competition issues on a reference received from a statutory authority established under only centre law.

Which of the above statements is true?

a. 1 and 3
b. 2 and 3
c. 1 and 2
d. 1, 2 and 3

Answer: c

Explanation:

The objectives of the Competition Act, 2002 are sought to be achieved through the Competition Commission of India (CCI), which has been established by the Central Government with effect from 14th October 2003. CCI consists of a Chairperson and 6 Members appointed by the Central Government. It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.

The Commission is also required to give opinion on competition issues on a reference received from a statutory authority established under any law and to undertake competition advocacy, create public awareness and impart training on competition issues.

The Competition Act, 2002, as amended by the Competition (Amendment) Act, 2007, follows the philosophy of modern competition laws. The Act prohibits anti-competitive agreements, abuse of dominant position by enterprises and regulates combinations (acquisition, acquiring of control and M&A), which causes or likely to cause an appreciable adverse effect on competition within India.

Current Affairs Quizzes of February 2017

2.  The third meeting of G-20 framework working group to be held in which of the following places in India?

a. Delhi
b. Varanasi
c. Goa
d. Ahmadabad

Answer: b

Explanation:

The 3rd G-20 Framework Working Group (FWG) Meeting under the G-20 German Presidency is being co-hosted by Department of Economic Affairs, Ministry of Finance, Govt. of India and Reserve Bank of India (RBI) in Varanasi on 28th and 29th of March, 2017.

The first two G 20 FWG meetings under the G-20 German Presidency have already been held at Berlin in Dec 16 and at Riyadh in Feb 17. Since the inception of the FWG in 2009, this is the fourth occasion that India is hosting this meeting. Previously, India had hosted the G-20 FWG Meetings in Neemrana, Rajasthan (2012 under Mexican Presidency), in Goa (in 2014 under G-20 Australian Presidency) and in Kerala (2015 under G-20 Turkish Presidency).

ECONOMIC SURVEY 2016-17 IMPORTANT QUESTIONS

3. Defence Procurement Procedure (DPP)-2016 focuses on institutionalising, streamlining and simplifying defence procurement procedure to give a boost to “Make in India” initiative of the Government of India. Consider the following statements regarding the features of revised DPP, promoting ‘Make in India’:

I. A new category of procurement ‘Buy {Indian-IDDM (Indigenously Designed, Developed and manufactured)}’ has been introduced in Defence Procurement Procedure-2016 and the same has been accorded top most priority for procurement of capital equipment.

II. Preference has been accorded to ‘Buy (Indian)’ and ‘Buy and Make (Indian)’ categories of capital acquisition over ‘Buy (Global)’ & ‘Buy & Make (Global)’ categories.

III. The ‘Make’ Procedure has been simplified with provisions for  funding of   90 % of development cost by the government to Indian industry and reserving projects not exceeding development cost of Rs. 10 crore (government funded) and Rs. 3  crore (industry funded) for MSMEs.

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:

Defence Procurement Procedure (DPP)-2016, which has come into effect from April 2016, focuses on institutionalising, streamlining and simplifying defence procurement procedure to give a boost to “Make in India”  initiative of the Government of India, by promoting indigenous design, development and manufacturing of defence equipment, platforms, systems and sub-systems. The key features of revised DPP, promoting ‘Make in India’ inter alia include:

• A new category of procurement ‘Buy {Indian-IDDM (Indigenously Designed, Developed and manufactured)}’ has been introduced in Defence Procurement Procedure-2016 and the same has been accorded top most priority for procurement of capital equipment.

• Preference has been accorded to ‘Buy (Indian)’ and ‘Buy and Make (Indian)’ categories of capital acquisition over ‘Buy (Global)’ & ‘Buy & Make (Global)’ categories.

• Requirement of Indigenous content has been enhanced / rationalised for various categories of capital acquisition.

• The ‘Make’ Procedure has been simplified with provisions for  funding of   90 % of development cost by the government to Indian industry and reserving projects not exceeding development cost of Rs. 10 crore (government funded) and Rs. 3  crore (industry funded) for MSMEs.

Union Budget 2017 Questions for IAS Exam

4 India was placed in the 87th position in the Global Energy Architecture Performance Index (EAPI) Report 2017. Which organisation releases this report?

a. The World Economic Forum (WEF)
b. International Monetary Fund
c. World Bank
d. United Nations

Answer: a

Explanation:

The World Economic Forum (WEF) on 22 March 2017 released the Global Energy Architecture Performance Index (EAPI) Report 2017. The index ranked 127 countries on their ability to deliver secure, affordable and sustainable energy.

While many of this year’s top performers tend to be smaller countries, both in size of gross domestic product and population, and typically have advanced economies, a significant number of countries do not fit this mould.

As in previous years, countries from Europe continue to hold many of the top 20 ranks on the EAPI. Colombia (8th), New Zealand (9th), Uruguay (10th) and Costa Rica (14th), which figured in the top 20, are the only exceptions.

Major energy consumers of the world, both in the developed and developing world, continue to struggle to take leading positions on the EAPI for instance, China (95th), India (87th), Japan (45th), the Russian Federation (48th) and the United States (52nd) have either slipped or experienced only marginal gains in the rankings since the EAPI 2009.

5. India has asked World Trade Organisation (WTO) to expedite the negotiation process for a global services pact. Which of the following statement best describe the purpose of the pact?

a. It aims to ensure portability of social security contributions and cross-border insurance coverage to boost medical tourism.
b. It aims to ease norms for movement of skilled workers across borders.
c. It aims to ease norms for movement of skilled workers within a country.
d. All of the above.

Answer: b

Explanation:

India is pressing for expediting the negotiation process for a global services pact that aims to ease norms for movement of skilled workers across borders.

India had submitted to the World Trade Organisation (WTO) a legally-vetted proposal for a Trade Facilitation in Services (TFS) Agreement.  The proposed TFS aims to ensure portability of social security contributions and cross-border insurance coverage to boost medical tourism.
According to India, the proposed pact is similar to the WTO’s Trade Facilitation Agreement (TFA) in Goods that recently came into force and aims to ease customs norms to boost global goods trade.

Current Affairs Quizzes 2016 for IAS Prelims 2017

Title: Current Affairs for IAS Prelims Exam 2017: 27 March 2017

URL: Current Affairs Quiz of 27 March 2017

Tags: IAS Questions, Current Affairs Quizzes, IAS preparation, UPSC IAS Exam, civils preparation

Summary: Current affairs preparation should be given priority in IAS prelims preparation as most of the questions asked are inspired from current affairs. Hence, here we provide Current Affair quiz based on the recent happenings of March 2017 for IAS Prelims 2017.

Author: Jyoti Sharma

Meta Title: Current Affairs Quiz of 27 March 2017 for IAS Exam

Meta Keywords: IAS Questions, Current Affairs, Current Affairs for IAS, Current Affairs today, gktoday, IAS Prelims, civils preparation

Meta Description: Read the IAS Questions on Current Affairs for IAS Exam on the crucial issues of March 2017. Read the Current Affair quiz significant for IAS Prelims 2017.

Body:

 

The current affair preparation is the most vital part of IAS prelims as well as IAS mains Exam. In IAS prelims preparation, all subjects like polity, geography, and economics should be read complimentary to the current happenings related to its subject matter.  Here, we cover important issues from the most authentic sources like the Hindu and Press Trust of India.

Current Affairs for IAS Prelims Exam 2017: 24 March 2017

We will continue to provide the current affairs questions for IAS Prelims 2017 to help you gain a better perception of how questions can be asked in the examination.

1.    Recently, Competition Commission of India (CCI) has imposed a penalty of upon Coal India Limited (CIL) on finding that it has imposed unfair and discriminatory conditions in Fuel Supply Agreements (FSAs). Consider the following statements regarding the CCI:

1)    The objectives of the Competition Act, 2002 are sought to be achieved through the Competition Commission of India (CCI),

2)    CCI consists of a Chairperson and 6 Members appointed by the Central Government.

3)    The Commission is also required to give an opinion on competition issues on a reference received from a statutory authority established under only centre law.

Which of the above statements is true?

a.    1 and 3

b.    2 and 3

c.    1 and 2

d.    1, 2 and 3

Answer: c

Explanation:

The objectives of the Competition Act, 2002 are sought to be achieved through the Competition Commission of India (CCI), which has been established by the Central Government with effect from 14th October 2003. CCI consists of a Chairperson and 6 Members appointed by the Central Government. It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India. The Commission is also required to give opinion on competition issues on a reference received from a statutory authority established under any law and to undertake competition advocacy, create public awareness and impart training on competition issues.

The Competition Act, 2002, as amended by the Competition (Amendment) Act, 2007, follows the philosophy of modern competition laws. The Act prohibits anti-competitive agreements, abuse of dominant position by enterprises and regulates combinations (acquisition, acquiring of control and M&A), which causes or likely to cause an appreciable adverse effect on competition within India.

2.     The third meeting of G-20 framework working group to be held in which of the following places in India?

a.    Delhi

b.    Varanasi

c.    Goa

d.    Ahmadabad

Answer: b

Explanation:

The 3rd G-20 Framework Working Group (FWG) Meeting under the G-20 German Presidency is being co-hosted by Department of Economic Affairs, Ministry of Finance, Govt. of India and Reserve Bank of India (RBI) in Varanasi on 28th and 29th of March, 2017.

The first two G 20 FWG meetings under the G-20 German Presidency have already been held at Berlin in Dec 16 and at Riyadh in Feb 17. Since the inception of the FWG in 2009, this is the fourth occasion that India is hosting this meeting. Previously, India had hosted the G-20 FWG Meetings in Neemrana, Rajasthan (2012 under Mexican Presidency), in Goa (in 2014 under G-20 Australian Presidency) and in Kerala (2015 under G-20 Turkish Presidency).

3. Defence Procurement Procedure (DPP)-2016 focuses on institutionalising, streamlining and simplifying defence procurement procedure to give a boost to “Make in India” initiative of the Government of India. Consider the following statements regarding the features of revised DPP, promoting ‘Make in India’:

I. A new category of procurement ‘Buy {Indian-IDDM (Indigenously Designed, Developed and manufactured)}’ has been introduced in Defence Procurement Procedure-2016 and the same has been accorded top most priority for procurement of capital equipment.

II. Preference has been accorded to ‘Buy (Indian)’ and ‘Buy and Make (Indian)’ categories of capital acquisition over ‘Buy (Global)’ & ‘Buy & Make (Global)’ categories.

III.    The ‘Make’ Procedure has been simplified with provisions for  funding of   90 % of development cost by the government to Indian industry and reserving projects not exceeding development cost of Rs. 10 crore (government funded) and Rs. 3  crore (industry funded) for MSMEs.

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:

Defence Procurement Procedure (DPP)-2016, which has come into effect from April 2016, focuses on institutionalising, streamlining and simplifying defence procurement procedure to give a boost to “Make in India”  initiative of the Government of India, by promoting indigenous design, development and manufacturing of defence equipment, platforms, systems and sub-systems. The key features of revised DPP, promoting ‘Make in India’ inter alia include:

    A new category of procurement ‘Buy {Indian-IDDM (Indigenously Designed, Developed and manufactured)}’ has been introduced in Defence Procurement Procedure-2016 and the same has been accorded top most priority for procurement of capital equipment.

    Preference has been accorded to ‘Buy (Indian)’ and ‘Buy and Make (Indian)’ categories of capital acquisition over ‘Buy (Global)’ & ‘Buy & Make (Global)’ categories.

    Requirement of Indigenous content has been enhanced / rationalised for various categories of capital acquisition.

    The ‘Make’ Procedure has been simplified with provisions for  funding of   90 % of development cost by the government to Indian industry and reserving projects not exceeding development cost of Rs. 10 crore (government funded) and Rs. 3  crore (industry funded) for MSMEs.

4 India was placed in the 87th position in the Global Energy Architecture Performance Index (EAPI) Report 2017. Which organisation releases this report?

a.    The World Economic Forum (WEF)

b.    International Monetary Fund

c.    World Bank

d.    United Nations   

Answer: a

Explanation:

The World Economic Forum (WEF) on 22 March 2017 released the Global Energy Architecture Performance Index (EAPI) Report 2017. The index ranked 127 countries on their ability to deliver secure, affordable and sustainable energy.

While many of this year’s top performers tend to be smaller countries, both in size of gross domestic product and population, and typically have advanced economies, a significant number of countries do not fit this mould.

As in previous years, countries from Europe continue to hold many of the top 20 ranks on the EAPI. Colombia (8th), New Zealand (9th), Uruguay (10th) and Costa Rica (14th), which figured in the top 20, are the only exceptions.

Major energy consumers of the world, both in the developed and developing world, continue to struggle to take leading positions on the EAPI for instance, China (95th), India (87th), Japan (45th), the Russian Federation (48th) and the United States (52nd) have either slipped or experienced only marginal gains in the rankings since the EAPI 2009.

• Since last year, the top 20 highest-performing countries have achieved twice the average increase in EAPI score compared to that of all other countries.

• At the end of the report, the WEF suggested countries across the world to prepare and execute long-term policy framework for the energy sector.

5. India has asked World Trade Organisation (WTO) to expedite the negotiation process for a global services pact. Which of the following statement best describe the purpose of the pact?

a.    It aims to ensure portability of social security contributions and cross-border insurance coverage to boost medical tourism.

b.    It aims to ease norms for movement of skilled workers across borders.

c.    It aims to ease norms for movement of skilled workers within a country.

d.    All of the above.

Answer: b

Explanation:

India is pressing for expediting the negotiation process for a global services pact that aims to ease norms for movement of skilled workers across borders.

India had submitted to the World Trade Organisation (WTO) a legally-vetted proposal for a Trade Facilitation in Services (TFS) Agreement.  The proposed TFS aims to ensure portability of social security contributions and cross-border insurance coverage to boost medical tourism.

According to India, the proposed pact is similar to the WTO’s Trade Facilitation Agreement (TFA) in Goods that recently came into force and aims to ease customs norms to boost global goods trade.

 

 

 

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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