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weekend test explanation - 22 FEB to 28 FEB 03-04-2016

Weekend consolidation 22nd FEB to 28th FEB - 2016

  • Eco survey and its comments on the status of economy
  • Nationalism – different perspectives
  • Railway budget
  • New freight corridors
  • Cash free India
  • Prime minister of Nepal Mr Oli visit to India
  • Clean air – monitoring of air in the cities
  • Gitmo closure
  • IPR – India
  • Brexit
  • Worlds best cities
  • Apple vs FBI
  • Jat reservations and agitation
  • China and its market economy status and its impact on India
  • Unemployment – NSSO survey

Q1) Which of the following statements are correct in reference to the growth and development?

  1. Europe and USA first spent on essential services before taking up their redistribution role .
  2. Economic survey calls for an increasing spending on health and education.
  3. 1 only B) 2 Only C) Both 1and 2 D) Neither 1 Nor 2

Answer – C

Explanation:

The history of Europe and the US suggests that typically, states first provide essential services (physical security, health, education, infrastructure, etc.) before they take on their redistribution role. Because unless the middle class in society perceives that it derives some benefits from the state, it may be largely unwilling to finance redistribution. In other words legitimacy to redistribute is earned through a demonstrated record of effectiveness in delivering essential services.

the Survey calls for major investments in health and education of people to exploit India’s demographic dividend to optimal extent.

So, points 1,2 are correct.

So, ans is : C

Q2) Which of the following is the order for Indian cities in recent rankings on world’s best cities under mercer quality of life study

  1. Hyderabad
  2. Bangalore
  3. Mumbai
  4. Chennai
  5. 1243
  6. 12 43
  7. 2134
  8. 1423

Answer: A

Explanation:

 

So, ans is: A

Q3) Identify the incorrect statements from below in relation to the recommendations of economic survey on taxation:

  1. Agricultural income shall be brought under tax net
  2. Raising property tax
  3. Increasing the Indirect taxes
  4. Enactment of GST

Answer – C

Explanation:

Tax reforms

Only 5.5% of the people who earn are tax payers today. The lowest among the BRICS nation. Tax to GDP ratio is around 16.6% compared to 21% in other emerging economies.

It suggested for bringing rich farmers in to tax net, raising property tax rates and phasing out tax exemptions and not raising the exemption threshold limits.

It recommended for enactment of GST for broadening of tax net.

However, it didn t recommend for increasing indirect taxes.

So, ans is : C

Q4) Which of the following are/ can be the major hinderance to the India s manufacturing sector and Make in India of Prime minister Modi :

  1. TPP
  2. Infrastructure challenges
  3. Negative protection to Indian Manufacturers
  4. 1,2 B) 2,3 C) 1,3 D) 1,2,3

Answer – D

Explanation:

Eco survey provides for increasing the share of manufacturing sector to in India’s GDP From the existing 15-16 % to 25% by 2022 and to create additional 100 million jobs.

Eliminating exemptions on countervailing duties on imports, monetization of land owned by public sector, allowing industries and companies to buy electricity directly from free markets are suggested to enable make in India a success.

India joining Trans Pacific partnership can jeopardize the Make in India initiative as it would prevent using state owned enterprises and procurement by the govt to achieve social and economic objectives.

Inadequate Infrastructure is another major hinderance for Make in India initiative.

So, ans is : D

Q5) Identify the correct statements from below :

  1. Indian manufacturing sectors contribution to GDP is by and large stagnant since 1980
  2. Make in India aims to raise the share of manufacturing to 25% by 2022
  3. 1 only B) 2Only C) Both 1and 2 D) Neither 1 Nor 2

Answer – C

Explanation:

The share of manufacturing sector to in India’s GDP is stagnant at 15-16 %  from 1980 s. To increase it to 25% by 2022 and to create additional 100 million jobs, Make in India campaign was launched.

So, both the sttments are correct.

So, ans is: C

Q6) Which of the following are the major suggestions of economic survey for GDP growth ?

  1. Shifting from pro industry approach to pro pro competition
  2. Activation of domestic sources of demand
  3. Quick resolution of twin balance sheet challenges
  4. 1,2 B) 2,3 C) 1,3 D) 1,2,3

Ans – D

Explanation:

Exit problem –

The Survey lists the enormous fiscal, economic and political costs involved in sustaining incapacitated ventures. Another meaningful suggestion is that India move from a pro-industry approach to one that is “genuinely pro-competition”

Twin balance sheet challenge-

The Survey has rightly called for a quick resolution to the twin balance sheet challenges the impaired finances of public sector banks and corporate houses.

Creation of Domestic demand can reduce the risk to  India from the global demand fluctuations and it also increases the growth.

So, ans is : D

Q7) Indian nation building is fundamentally different from the western exercise of Nation building. Which of the following holds good here.

  1. Western Nationalism was never inclusive of entire population
  2. Indian Nationalism is centered around welfarism and egalitarianism .
  3. Indian model of secularism clearly reflects its democratic Nationalism
  4. 1,2 B) 2,3 C) 1,3 D) 1,2,3,

Answer – D

Explanation:

The nation Building of India statrted after Independence tried to take along the diverse population on a single platform. It tries to accommodate and integrate the diversity making it as inclusive. Western Nationalism was dominated by the major group of that Countries.

Naionalism ,the Nation from the starting has welfarism as the goal. It is reflected in our DPSP of the Constitution. Egalitarianism is through the equal RIghts of people which is manifested in the form of Fundamental Rights.

Indian Secularism treats every religion as equal, where as western Seularism believes in non recognition of any religion.

So, points 1,2,3 are correct.

So, ans is: D

Q8) India today is the base for 3rd largest start up firms. Which of the following are the challenges in this context for the eco system ?

  1. They are majorly focused in e-commerce and financial services
  2. Lack of effective exit policy .
  3. Non availability of Venture capitalists and angel investors
  4. 1,2 B) 2,3 C) 1,3 D) 1,2,3,

Ans – A

Explanation:

 India ranks third among global startup ecosystems with more than 4,200 new-age companies.

It also says more than 50 per cent of the 1,200 startups focus on e-com, consumer services and aggregators. Exit Policy and taxation issues are not clear in this sector. They became major challenges to the Government as well as the startups.

Venture capital and Angel Investment is not an issue for the Statrups  in India.

So, ans is: A

 

Q9) In relation to the recent Jat agitation, consider the following in connection with reservations in India:

  1. Constitution has provided reservations to Dalits on social Justice concerns.
  2. Mandal commisison has suggested the reservations for OBC in proportion to their size of population.
  3. Decrease in agricultural income, fragmentation of land are few of the major reasons for reservation demands
  4. 1,2 B) 2,3 C) 1,3 D) 1,2,3,

Answer – D

Explanation:

Constitution under Article 16 provides for reservation in Public employment based on Educational and Social Backwardness. So, dalits are given reservation under Social Justice Concerns.

Mandal Commission in it s report has suggested the reservations for OBC in proportion to their size of population. It recommended 27% reservation quota for OBC resulting in total 49.5% quota in government jobs and public universities.

Decrease in agricultural income, fragmentation of land are few of the major reasons for reservation demands . Theese are the reasons  reported in agitations like Jats and Kapu reservations.

So, ans i s: D

10) Which of the following are the new freight corridors proposed in the railway budget 2016-17 ?

1) Delhi – Mumbai

2) Delhi – Chennai

3) East coast freight corridor

A) 1,2 B) 2,3 C) 1,3 D) 1,2,3,

Answer - B

Explanation:

Making a commitment that the much talked-about eastern (Delhi-Kolkata) and western (Delhi-Mumbai) dedicated freight corridors would be ready by 2019, railway minister Suresh Prabhu unveiled plans to lay three more such corridors through public -private partnership (PPP) model.

 Three new freight corridors: North-South connecting Delhi to Chennai, East-West connecting Kharagpur to Mumbai and East Coast connecting Kharagpur to Vijayawada.

So, ans is : B

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