Static GK and Current Events Questions and Answers: 4th February 2021

Choose to answer the following quiz questions to improve your preparation for the coming Government Examinations. This quiz would help you to improve your current affairs, economics and science and tech knowledge. Take a look below

1. Who observed the Blue Jet Lightning recently?

1. Russian space station
2. Indian space station
3. International space station
4. None of the above 

Ans. c

Explanation: The International Space Station's Atmosphere-Space Interactions Monitor- ASIM observatory recently caught a single blue ‘jet’.

2. What is blue jet lightning? 

1. Lightning that is blue in colour
2. Northern lights 
3. Lights from the flying jet planes
4. Upward lights emitted from the thunderstorm clouds

Ans. d

Explanation: The blue jets can be seen when some positively charged upper part of the cloud interacts with a negatively charged layer present immediately above it. Know what is Blue Jet Lightning here

3. This company’s IPO would be launched as a part of disinvestment. Choose the company from options below

1. IDBI
2. LIC
3. HAL
4. ONGC

Ans. b

Explanation: The IPO of the Life Insurance Corporation would be launched in 2021-22. The budget estimates an amount of 1.75 lakh crore revenue from this activity. 

4. Budget 2021-22 proposals are said to rest on six pillars. Which of the following is not among them?

1. Health & well being
2. Minimum Government, Maximum Governance
3. Inclusive Development for an aspirational India
4. Agricultural Development

Ans. d

Explanation: The budget is based on health and well being, minimum Government and maximum governance, inclusive development, innovation and R&D, reinvigorating human capital, physical and financial capital. Know some facts on Union Budget here

5. The amount allocated to Railways in 2021 is?

1. 1,00,000 crore
2. 1,10,055 crore
3. 2,30,345 crore
4. 3,55,000 crore

 Ans. b

Explanation: In the Union Budget 2021, the amount allocated to railways is INR 1, 10,055 crore. 

6. Which state would be setting up a multi seaweed park in coming years?

1. Delhi
2. Tamil Nadu
3. West Bengal
4. Maharashtra

Ans. b

Explanation: Union finance minister Nirmala Sitharaman in her Budget presentation proposed to establish a multipurpose seaweed park in Tamil Nadu. 

Play a GK quiz on Union Budget 2021

7. What is the total capital expenditure for the financial year 2021-22

1. 5.45 lakh crore
2. 4.25 lakh crore
3. 5.54 lakh crore
4. None of the above 

Ans. c

Explanation: The overall capital expenditure for FY 2021-22 is Rs.5.54 lakh crore. Play GK Quiz on Economic Survey 2021 here

8. Choose the incorrect statements regarding Direct Tax Proposals in Budget 2021

1. IT relaxation for senior citizens of 75 years age and above
2. Reduction in time for IT Proceedings
3. Constitution of ‘Dispute Resolution Committee
4. Tax holiday for startups has been cut down by one year 

Ans. d

Explanation: The tax holiday for startups has been extended by one more year up to 31st March 2022.

9. Who does Section 44ADA apply to now after Budget 2021?

1. Resident individual
2. Hindu Undivided Family
3. Partnership firm
4. All of the above 

Ans. d

Explanation: Section 44ADA is applicable to residents in India. Now onwards, it applies only to the resident individual, Hindu Undivided Family (HUF) or a partnership firm, other than LLP.

10. Till when is the Section 80 EEA deduction or affordable housing additional deduction extended?

1. 31st March 2022
2. 31st April 2021
3. 31st March 2023
4. 31st March 2021

Ans. a

Explanation: The affordable housing additional deduction was extended till 31st March 2022. The tax exemption has been granted for affordable rental projects.

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