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Question 1 of 5
1. Question
Consider the following statements regarding the tax-to-GDP ratio in India:
1.The tax-to-GDP ratio is the ratio of tax revenue collected by the government to the country’s Gross Domestic Product (GDP).
2.A higher tax-to-GDP ratio indicates a greater ability of the government to fund public services.
3.India has one of the highest tax-to-GDP ratios among emerging economies.
How many of the statements is/are correct?
Correct
(b) Only two statements are correct (1st and 2nd)
The tax-to-GDP ratio measures the proportion of tax revenue collected by the government relative to the country’s GDP.
A higher tax-to-GDP ratio indeed reflects the efficiency of the tax collection system and the government’s ability to fund public services.
The tax-to-GDP ratio in India has fluctuated over the years. While there have been efforts to increase tax revenue through measures such as the Goods and Services Tax (GST) implementation, the ratio has not seen a consistent increase across the last decade. There have been periods of slight increase, followed by stabilization or decline due to economic slowdowns. (3rd statement is incorrect)
India has a relatively low tax-to-GDP ratio compared to other emerging economies. For instance, India’s ratio has historically been lower than that of countries like Brazil, China, and South Africa, which have a higher share of tax revenue in their GDP.
Incorrect
(b) Only two statements are correct (1st and 2nd)
The tax-to-GDP ratio measures the proportion of tax revenue collected by the government relative to the country’s GDP.
A higher tax-to-GDP ratio indeed reflects the efficiency of the tax collection system and the government’s ability to fund public services.
The tax-to-GDP ratio in India has fluctuated over the years. While there have been efforts to increase tax revenue through measures such as the Goods and Services Tax (GST) implementation, the ratio has not seen a consistent increase across the last decade. There have been periods of slight increase, followed by stabilization or decline due to economic slowdowns. (3rd statement is incorrect)
India has a relatively low tax-to-GDP ratio compared to other emerging economies. For instance, India’s ratio has historically been lower than that of countries like Brazil, China, and South Africa, which have a higher share of tax revenue in their GDP.
Question 2 of 5
2. Question
With reference to the Liberalised Remittance Scheme, consider the following statements:
1. All resident individuals are allowed to freely remit up to USD 2, 50,000 per financial year.
2. Remittance for trading in foreign exchange abroad is prohibited.
3. Minors are not included in this scheme.
4. The Scheme is not available to corporates.
How many of the above statements are correct?
Correct
(b) Only two
Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2, 50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both. (Statement 1 is correct and statement 3 incorrect)
The resident individuals can avail of foreign exchange facility for the purposes mentioned in Para 1 of Schedule III of FEM (CAT) Amendment Rules 2015, dated May 26, 2015, within the limit of USD 2,50,000 only.
The Scheme was introduced on February 4, 2004, with a limit of USD 25,000. The LRS limit has been revised in stages consistent with prevailing macro and micro economic conditions. If the remitter is a minor, the LRS declaration form must be countersigned by the minor’s natural guardian.
The Scheme is not available to corporates, partnership firms, HUF, Trusts, etc. (Statement 4 is correct)
The following are exempt from the scheme’s remittance facility:
(i) Remittance for any purpose specifically prohibited under Schedule-I (like the purchase of lottery tickets/sweep stakes, proscribed magazines, etc.) or any item restricted under Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, 2000.
(ii) Remittance from India for margins or margin calls to overseas exchanges / overseas counterparty.
(iii) Remittances for the purchase of FCCBs issued by Indian companies in the overseas secondary market.
(iv) Remittance for trading in foreign exchange abroad. (Statement 2 incorrect)
(v) Capital account remittances, directly or indirectly, to countries identified by the Financial Action Task Force (FATF) as “non-cooperative countries and territories”, from time to time.
(vi) Remittances directly or indirectly to those individuals and entities identified as posing a significant risk of committing acts of terrorism as advised separately by the Reserve Bank to the banks.
(vii) Gifting by a resident to another resident, in foreign currency, for the credit of the latter’s foreign currency account held abroad under LRS.
Incorrect
(b) Only two
Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2, 50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both. (Statement 1 is correct and statement 3 incorrect)
The resident individuals can avail of foreign exchange facility for the purposes mentioned in Para 1 of Schedule III of FEM (CAT) Amendment Rules 2015, dated May 26, 2015, within the limit of USD 2,50,000 only.
The Scheme was introduced on February 4, 2004, with a limit of USD 25,000. The LRS limit has been revised in stages consistent with prevailing macro and micro economic conditions. If the remitter is a minor, the LRS declaration form must be countersigned by the minor’s natural guardian.
The Scheme is not available to corporates, partnership firms, HUF, Trusts, etc. (Statement 4 is correct)
The following are exempt from the scheme’s remittance facility:
(i) Remittance for any purpose specifically prohibited under Schedule-I (like the purchase of lottery tickets/sweep stakes, proscribed magazines, etc.) or any item restricted under Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, 2000.
(ii) Remittance from India for margins or margin calls to overseas exchanges / overseas counterparty.
(iii) Remittances for the purchase of FCCBs issued by Indian companies in the overseas secondary market.
(iv) Remittance for trading in foreign exchange abroad. (Statement 2 incorrect)
(v) Capital account remittances, directly or indirectly, to countries identified by the Financial Action Task Force (FATF) as “non-cooperative countries and territories”, from time to time.
(vi) Remittances directly or indirectly to those individuals and entities identified as posing a significant risk of committing acts of terrorism as advised separately by the Reserve Bank to the banks.
(vii) Gifting by a resident to another resident, in foreign currency, for the credit of the latter’s foreign currency account held abroad under LRS.
Question 3 of 5
3. Question
Who of the following is the author of the book “Pax Indica: India and the World of 21st century”?
Correct
(c) Shashi Tharoor
Pax Indica: India and the World of the Twenty-First Century is a book written by Shashi Tharoor. The book talks about India’s relationship with the foreign nations in recent times. It also proposes ideas on how to lead a constructive relationship with other nations.
Incorrect
(c) Shashi Tharoor
Pax Indica: India and the World of the Twenty-First Century is a book written by Shashi Tharoor. The book talks about India’s relationship with the foreign nations in recent times. It also proposes ideas on how to lead a constructive relationship with other nations.
Question 4 of 5
4. Question
Consider the following statements,
1.Shigella infection is an intestinal infection caused by a family of bacteria known as shigella.
2.Shigella sonnei, Shigella flexneri, Shigella boydii and Shigella dysenteriae are the four species of Shigella.
3.Currently, there are no vaccines available for shigella.
How many of the statements is/are correct?
Correct
(c) All three are correct
Shigella infection is an intestinal infection caused by a family of bacteria known as shigella. The four species of Shigella are: Shigella sonnei, Shigella flexneri, Shigella boydii and Shigella dysenteriae.
Symptoms: Diarrhea, Stomach pain or cramps, Fever, Nausea or vomiting.
Transmission: It is very contagious. People get infected with shigella when they come in contact with and swallow small amounts of bacteria from the stool of a person
Children under age 5 are most likely to get shigella infection, but it can occur at any age.
Vaccine: Currently, there are no vaccines available for shigella.
Precautions: Wash your hands thoroughly before and after a meal. Wash your hands properly after a bowel movement. Ensure the water that you drink is clean and the fruits and vegetables are fresh.
Disease burden: It has been estimated that shigella triggers a huge disease burden globally, causing nearly 125 million diarrhoeal episodes annually and around 1,60,000 deaths, with a third of these associated with children under five years of age.
Incorrect
(c) All three are correct
Shigella infection is an intestinal infection caused by a family of bacteria known as shigella. The four species of Shigella are: Shigella sonnei, Shigella flexneri, Shigella boydii and Shigella dysenteriae.
Symptoms: Diarrhea, Stomach pain or cramps, Fever, Nausea or vomiting.
Transmission: It is very contagious. People get infected with shigella when they come in contact with and swallow small amounts of bacteria from the stool of a person
Children under age 5 are most likely to get shigella infection, but it can occur at any age.
Vaccine: Currently, there are no vaccines available for shigella.
Precautions: Wash your hands thoroughly before and after a meal. Wash your hands properly after a bowel movement. Ensure the water that you drink is clean and the fruits and vegetables are fresh.
Disease burden: It has been estimated that shigella triggers a huge disease burden globally, causing nearly 125 million diarrhoeal episodes annually and around 1,60,000 deaths, with a third of these associated with children under five years of age.
Question 5 of 5
5. Question
Joint military exercise “Ex Ekuverin” between the Indian Army and which country?
Correct
(c) Maldives
The 12th edition of joint military exercise “Ex Ekuverin” between the Indian Army & the Maldives National Defence Force has commenced at Chaubatia, Uttarakhand from 11 to 24 June 2023. Ekuverin meaning ‘Friends’ is a bilateral annual exercise conducted alternatively in India and Maldives.
Incorrect
(c) Maldives
The 12th edition of joint military exercise “Ex Ekuverin” between the Indian Army & the Maldives National Defence Force has commenced at Chaubatia, Uttarakhand from 11 to 24 June 2023. Ekuverin meaning ‘Friends’ is a bilateral annual exercise conducted alternatively in India and Maldives.