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Current Affairs for IAS Prelims Exam 2017: 18 May 2017

May 18, 2017 15:24 IST
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Current Affairs Quiz 17 May

Current affairs should be prepared with a great enthusiasm and spirit during IAS Exam preparation. A sincere study of current affairs would be beneficial for both the stages i.e., IAS Prelims and Mains Exam. So, the IAS aspirants should keep practising the current affairs quiz on basis during IAS Preparation. Here, we have provided current affairs quizzes based on the important events happened during the week from the month of May 2017.

Current Affairs for IAS Prelims Exam- 6 to 12 May 2017

1. Recently, the Union Cabinet has approved a MoU between India and Australia on Cooperation in combating International Terrorism and Transnational Organized Crime. Consider the following statements regarding the MoU between Australia and India:
I. The proposed MoU would strengthen the relationship between India and Australia for building peace and stability in the region through exchange of information, expertise, experience and capacity building.
II. It is true that MoU is not considered as an effective framework to deal with all issues requiring interaction and cooperation in the areas identified.

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 Union Cabinet has given ex-post facto approval to the Memorandum of Understanding (MoU) between India and Australia on Cooperation in Combating International Terrorism and Transnational Organized Crime.

The proposed MoU would strengthen the relationship between India and Australia for building peace and stability in the region through exchange of information, expertise, experience and capacity building.

The MoU is an effective framework to deal with all issues requiring interaction and cooperation in the areas identified. The mutual cooperation would facilitate the institutional interactions between the two countries. The MoU, once in force, would help in curbing combating International Terrorism and Transnational Organized Crime.

Current Affairs for IAS Prelims 2017- March 2017

2. Recently, which of the following countries has officially offered support for various ongoing as well as upcoming development and infrastructure projects in the North-Eastern region?
a. Singapore
b. Japan
c. USA
d. Turkey

Answer: b

Explanation:

Japan has officially offered support for various ongoing as well as upcoming development and infrastructure projects in the North-Eastern region. The Ambassador of Japan to India has conveyed his government’s inclination to invest in Northeast and also offer any other feasible support for new ventures. The preferred States which the Government of Japan looks forward to investing in Northeast are Assam, followed by Manipur and Nagaland.

Current Affairs Quizzes of February 2017

3. Recently, the Union Cabinet has approved the Pan-India implementation of Maternity Benefit Program. Consider the following statements regarding the Maternity Benefit Program:
I. The objective of the Maternity Benefit Program is to provide partial compensation for the wage loss in terms of cash incentives so that the woman can take adequate rest before and after delivery of the first living child.
II. The cash incentives provided would lead to improved health seeking behaviour amongst the Pregnant Women and Lactating Mother (PW&LM) to reduce the effects of under-nutrition namely stunting, wasting and other related problems.
III. The Maternity Benefit Program which now has been extended to all districts of the country w.e.f. 1st January 2017 earlier which was limited to Delhi/NCR.

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: b

Explanation:

The Union Cabinet has given ex-post facto approval to Pan-India implementation of Maternity Benefits Program which now has been extended to all districts of the country w.e.f. 1st January 2017.

The Maternity Benefit Program will provide compensation for the wage loss in terms of cash incentives so that the women can take adequate rest before and after delivery and not be deprived of proper nutrition.

The total cost of the proposal for the period from 01.01.2017 to 31.03.2020 including Central and State Government share isRs.12, 661crore. The government of India’s share during the period 01.01.2017 to 31.03.2020 comes to around Rs. 7932 crore.

Objective of the Scheme

  • To provide partial compensation for the wage loss in terms of cash incentives so that the woman can take adequate rest before and after delivery of the first living child.
  • The cash incentives provided would lead to improved health seeking behaviour amongst the Pregnant Women and Lactating Mother (PW&LM) to reduce the effects of under-nutrition namely stunting, wasting and other related problems.

ECONOMIC SURVEY 2016-17 IMPORTANT QUESTIONS

4. The Union Cabinet has approved the signing of Fuel Supply Agreement (FSA) with Letter of Assurance (LoA) holders of Thermal Power Plants (TPPs) - Fading Away of the existing LoA-FSA Regime and Introduction of a New More Transparent Coal Allocation Policy for Power Sector, 2017- SHAKTI. Consider the following statements regarding the benefits of the SHAKTI policy:
I. Coal available to all Power Plants in transparent and objective manner.
II. Auction to be made the basis of linkage allocations to IPPs; cheaper and affordable power for all.
III. The Stress on account of non-availability of linkages to Power Sector Projects shall be overcome.

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:

Cabinet has approved the signing of Fuel Supply Agreement (FSA) with Letter of Assurance (LoA) holders of Thermal Power Plants(TPPs) - fading away of the existing LoA-FSA Regime and Introduction of a New More Transparent Coal Allocation Policy for Power Sector, 2017-SHAKTI (Scheme for Harnessing and Allocating Koyala (Coal) Transparently in India).

Benefits of the Policy

• Coal available to all Power Plants in transparent and objective manner

• Auction to be made the basis of linkage allocations to IPPs; cheaper and affordable power for all.

• The Stress on account of non-availability of linkages to Power Sector Projects shall be overcome. Good for the Infrastructure and banking Sector.

• PPA holders to reduce tariff for linkage; the Direct benefit of the reduced tariff to Discom/consumers.

Union Budget 2017 Questions for IAS Exam

5. Recently, the Union Cabinet has approved signing of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting by India. Consider the following statements regarding the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting by India:
I. The Convention implements two minimum standards relating to prevention of treaty abuse and dispute resolution through Mutual Agreement Procedure.
II. The Convention will function in the same way as an Amending Protocol to a single existing treaty, which would directly amend the text of the Covered Tax Agreements.
III. The Convention ensures consistency and certainty in the implementation of the BEPS Project in a multilateral context.

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

Answer: b

Explanation:

The Convention implements two minimum standards relating to prevention of treaty abuse and dispute resolution through Mutual Agreement Procedure. The Convention will not function in the same way as an Amending Protocol to a single existing treaty, which would directly amend the text of the Covered Tax Agreements. Instead, it will be applied alongside existing tax treaties, modifying their application in order to implement the BEPS measures. The Convention ensures consistency and certainty in the implementation of the BEPS Project in a multilateral context. The Convention also provides flexibility to exclude a specific tax treaty and to opt out of provisions or parts of provisions through the making of reservations.

The Convention has been opened for signature as on 31st December 2016 and a first joint signing ceremony is scheduled to be held in Paris on 7th June 2017. Signature is the first step in the process of expressing consent to be bound by the Convention, which will become binding only upon ratification. A list of Covered Tax Agreements, as well as a list of reservations and options chosen by a country, are required to be made at the time of signature or when depositing the instrument of ratification.

Current Affairs Quizzes 2016 for IAS Prelims 2017

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