Current Affairs-21 December 2017

Choose the correct answer from the given options:

Q1. According to a recent news, the state government of Kerala did not recommend Vellayani lake for funds under the central government’s National Wetland Conservation Programme (NWCP). Vellayani lake is located in which of the following place?

A. Kottayam
B. Alapuzha
C. Thiruvananthapuram
D. Kozhikode

Q2. Recently the Centre made a submission to the Supreme Court that there is no need to constitute a tribunal to resolve the Mahanadi river water dispute.

Which of following statements are valid regarding this dispute:
I. The Mahanadi river water dispute is between Odisha and Chattishgarh
II. Hirakud dam is built on the Mahanadi river
III. The dispute is due to one of the state’s plan to build dams and barrages in the upper basin of the river

A. Only I
B. Only II and III
C. Only I and II
D. All are relevant

Q3. According to the data released by the Central Board of Direct Taxes (CBDT) relating to the distribution of income and tax payable in respect of returns filed for the Assessment Year 2015-16 [the financial year 2014-15], which of the following statements is/are TRUE?
I. The number of income tax returns filed by persons declaring a gross taxable income above ₹ 5 crore is nearly 63% higher than the number seen in 2011-12.
II.  The number of returns filed in the financial year 2014-15 grew by 40.8% over 2011-14

A. Only I
B. Only II
C. Neither I nor II
D. Both are TRUE

Q4. Which of the following statements are valid with reference to Mission Antyodaya, a program under Ministry of Rural Development, Government of India:
I. The objective of Mission Antyodaya is to Survey and Collect the Village Infrastructure Data for all the Villages in the Gram Panchayat.
II. Mission Antyodaya application was earlier known as “SAMRUDHH PANCHAYAT”.

A. Only I
B. Only II
C. Neither I nor II
D. Both I and II

Q5. According to the market research company, CRISIL, the domestic aviation sector may see a deceleration in next five fiscals (2018-2022). What is/are the main reasons according to the company?
I. Crippling infrastructure constraints at major airports
II. Upward rise in fuel prices
III. debt-ridden and loss-making domestic aviation companies

A. Only I
B. Only I and II
C. Only II and III
D. All I, II and III

Q6. Who is the Chief Statistician of India?

A. Dr. Radha Binod Barman
B. Dr. Pronab Sen
C. Dr. T. C. A. Anant
D. Dr. Rattan Chand

Q7. What is the full form of QIP?

A. Qualified Institutional Placement
B. Qualified Industrial Placement
C. Quantified Investment Placement
D. Qualified Investment Placement

Q8. Which among the following statement are TRUE?
I.  Bitcoin, Ethereum and Litecoin are the examples of cryptocurrency
II. Currently, cryptocurrency does not come under the purview of any regulator in India
III. The government is planning to bring Blockchain technology, the technology behind cryptocurrency under regulatory oversight next year (2018)

A. Only I
B. Only I and II
C. Only II and III
D. All are TRUE

Q9. Reserve Bank of India Governor Urjit Patel voiced concern over rising crude oil prices and fiscal slippage, during the meeting of the fifth bi-monthly monetary policy review held earlier this month (December). Fiscal slippage occurs when?

A. total actual expenditure of the government unexpectedly surpassed the total budgeted expenditure
B. total borrowings of the government rises above the threshold percentage (10%) of GDP
C. total budget expenditure surpassed the total Budget Receipts less total Borrowings
D. None of the above

Q10. Bharti Airtel has recently approved the takeover of the consumer mobile business of which of the following company?

A. Tata Teleservices
B. Loop
C. Tata Communications
D. Aircel

 


Answer key with explanation

1.  C. Thiruvananthapuram

Vellayani or Vellayani Kayal as known in the local language is one of the three rain-fed freshwater lakes in Kerala, the other two being Sasthamcotta lake in Kollam and Pookkode lake in Wayanad. Vellayani lake, is the largest freshwater lake in Thiruvananthapuram district, of Kerala. The lake is located about 7 km away from Kovalam.

Learn more: http://www.rainwaterharvesting.org/vellayani_lake/vellayani_lake.htm

2. D. All are relevant

The Mahanadi river water dispute is between the government of Odisha and Chattishgarh. The river flows from both the state.

The contention between two states built up into a major political issue when Odisha government knows about Chhattisgarh government’s plans to build 13 barrages across the Mahanadi, in a plan to extract more water. Chhattisgarh has also been constructing seven pick up weirs (small dams) across the river.

Hirakud Dam is built across the Mahanadi River, about 15 kilometers from Sambalpur in the state of Odisha in India.

Learn more:

3.  D. Both are TRUE

According to the data released by the Central Board of Direct Taxes (CBDT) relating to the distribution of income and tax payable in respect of returns filed for the Assessment Year 2015-16 [the financial year 2014-15] the number of income tax returns filed by persons declaring a gross taxable income above ₹ 5 crore is nearly 63% higher than the number seen in 2011-12.

The number of returns filed in the financial year 2014-15 grew by 40.8% over 2011-14. 

Learn more: http://www.thehindu.com/business/Economy/surge-in-incomes-over-5-cr-i-t-dept/article22097021.ece

4. A. Only I

Mission Antyodaya is a convergence framework for measurable effective outcomes on
parameters that transform lives and livelihoods.

The objective of Mission Antyodaya is to Survey and Collect the Village Infrastructure Data for all the Villages in the Gram Panchayat (GP). In Phase-1, 50000 GPs have been selected by the states.

Earlier it was known as “Samridh Gram” now the name has been revised to “Mission Antyodaya” application.

Learn more: http://missionantyodaya.nic.in/preDocGallaryPage.html

5. B. Only I and II

According to the market research company, CRISIL, the domestic aviation sector may see a deceleration in next five fiscals (2018-2022). 

The main reasons behind this fall according to CRISIL are crippling infrastructure constraints at major airports. Mumbai’s airport has no space for expansion and capacity utilization at Hyderabad and Bengaluru airports have already crossed the 100% mark. As a result, new flights are not allowed permission.

An upward rise in fuel prices is another reason.  With rising crude oil prices, fares are expected to go up and this would moderate passenger traffic growth.

The report presented by CRISIL did not talk about statement III; hence is not a valid reason.

Learn more: http://www.thehindu.com/business/Industry/infra-handicap-fuel-price-rise-may-trouble-domestic-aviation/article22082693.ece

6. C. Dr. T. C. A. Anant

Dr. T. C. A. Anant is the current Chief Statistician of India (CSI), with concurrent charge as the secretary of the Ministry of Statistics and Programme Implementation (MoSPI). He took over charge on 01-07-2010. 

Learn more: 

7. A. Qualified Institutional Placement

QIP is a process which was introduced by SEBI so as to enable the listed companies to raise finance through the issue of securities to qualified institutional buyers (QIBs).

Learn more: https://economictimes.indiatimes.com/definition/QIP

8. B. Only I and II

Recently, Securities and Exchange Board of India (SEBI) Chairman Ajay Tyagi said in a statement that while bitcoins could not be ignored, the cryptocurrency had so far not posed any systemic risk and the government has formed a panel to look into it. The panel, also comprising finance and information technology ministries.

Bitcoin, Ethereum and Litecoin are the examples of cryptocurrency.

Currently, cryptocurrency does not come under the purview of any regulator in India

Blockchain technology that everyone uses and is useful, should not have regulatory oversight and that’s something which needs to be encouraged and we are also encouraging it, according to SEBI chairman.

Learn more: http://www.thehindu.com/business/Economy/no-systemic-risk-due-to-bitcoins-as-yet-tyagi/article22079381.ece

9. A. total actual expenditure of the government unexpectedly surpassed the total budgeted expenditure

Learn more:

10. A. Tata Teleservices

Bharti Airtel board approved an arrangement for takeover of consumer mobile business of Tata Teleservices, in a deal involving issue of equity and preference shares.

“The Board of Director in its meeting held on 19 December, 2017 has approved the composite scheme of arrangement between Tata Teleservices, Bharti Airtel and Bharti Hexacom and their respective shareholders and creditors”, Airtel said in a regulatory filing.

Learn more: http://www.livemint.com/Industry/m0wpD2XktEbsxySx8mGfgN/Airtel-board-clears-scheme-for-takeover-of-Tata-Teleservic.html


 

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