Daily Current Affairs (MCQ) | Date 12.01.22

Daily Current Affairs (MCQ) | Date 12.01.22

Daily Current Affairs (MCQ) | Date 12.01.22

Q1. GST compensation cess is applied on

1. Tobacco
2. Aerated water
3. Pan Masala
4. Automobile products

Select the correct answer from the codes given below

a. 1, 2 and 3
b. 2, 3 and 4
c. 1, 2 and 4
d. 1, 2, 3 and 4

Answer : d

Why is the Question ?

Extending GST compensation as a reforming catalyst
The calculation of compensation
1. To allay the fears of States of possible revenue loss by implementing GST in the short term, the Union government promised to pay compensation for any loss of revenue in the evolutionary phase of five years.
2. The compensation was to be calculated as the shortfall in actual revenue collections in GST from the revenue the States would have got from the taxes merged in the GST.
3. This was estimated by taking the revenue from the merged taxes in 2015- 16 as the base and applying the growth rate of 14% every year.
4. To finance the compensation requirements, a GST compensation cess was levied on certain items such as tobacco products, automobiles, coal and solid fuels manufactured from lignite, pan masala and aerated waters.
5. In the first two years of its implementation, the amount of compensation to be paid to the States was modest and the compensation cess was sufficient to meet the requirements.

Q2. Which of the following products are outside GST purview as of now?

1. Alcohol for human consumption
2. Petroleums Products
3. Real estate
4. Electricity

Select the correct answer from the codes given below

a. 1, 2 and 3
b. 2, 3 and 4
c. 1, 2 and 4
d. 1, 2, 3 and 4

Answer : d

Why is the Question ?

Q3. Planetary pressure-adjusted Human Development Index (HDI) is computed and released by

a. United Nations Development Programme
b. United Nations Environment Programme
c. The World Economic Forum
d. Oxfam

Answer : a

Why is the Question ?

Treating the planet well can aid progress
An integrated perspective is necessary as social and environmental problems cannot be addressed in isolation anymore
Planetary pressure-adjusted Human Development Index (HDI)
1. The 2020 Human Development Report of the United Nations Development Programme (UNDP), titled “The Next Frontier – Human Development and the Anthropocene” proposed a planetary pressure-adjusted Human Development Index (HDI).

2. Ever since the UNDP took up the computation of the HDI driven by the vision of Mahbub ul Haq and articulated by Amartya Sen in 1990, there have been adjustments such as inequality-adjusted HDI.
3. Besides, there was the computation of several other indices such as the Gender Development Index, Gender Inequality Index, and Multidimensional Poverty Index to flag the issues that warranted the attention of policymakers.

Q4. BrahMos is jointly developed by

a. India and Russia
b. Israel and India
c. France and India
d. India and Germany

Answer : a

Why is the Question ?

1. An extended range sea-to-sea variant of the BrahMos supersonic cruise missile was test-fired from INS Visakhapatnam.
2. BrahMos is joint collaboration between India and Russia and is capable of being launched from land, sea, sub-sea and air against the surface and seabased targets, with a range,  apped at 290 km initially.

1. The range of the missile was originally capped at 290 km as per obligations of the Missile Technology Control Regime (MTCR). Following India’s entry into the club in 2016, officials said the range would be extended to 450 km and to 600km at a later stage. An extended range missile had been tested earlier.
2. INS Visakhapatnam, with a displacement of 7,400 tonnes, is the first of four ingenuously designed and built Project-15B class stealth guidedmissile destroyers and was commissioned in November 2021.

Q5. India is member of the following groups

1. The Missile Technology Control Regime (MTCR)
2. Australia Group
3. Nuclear Suppliers Group
4. Wassenaar Arrangement

Select the correct answer from the codes given below

a. 1, 2 and 3
b. 2, 3 and 4
c. 1, 2 and 4
d. 1, 2, 3 and 4

Answer : c

Why is the Question ?

India is not a member of the NSG group.
The Missile Technology Control Regime (MTCR)