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Current Affairs MCQs for Practice – 03 Feb 2022

Question-1

The Union Budget has proposed a task force to promote which sector that has the potential to employ thousands of youth?

a) Health and fitness

b) Animation, vfx, gaming, comic

c) Information Technology

d) Tech startups

Ans- b

Explanation-

The animation, visual effects, gaming, and comic (AVGC) sector offered immense potential to employ youth, and to further unleash its scope, the Union Budget proposed an AVGC Promotion Task Force.

Question-2

Union Finance Minister Nirmala Sitharaman announced the plan to set up a National Tele-Mental Health programme where 23 tele-mental health centres would be launched with which institute as a nodal centre?

a) Parivartan

b) NIMHANS

c) AIIMS

d) Apollo Hospitals

Ans- b

Explanation-

Union Finance Minister Nirmala Sitharaman on Tuesday said the pandemic had accentuated mental health problems in people of all ages and announced the plan to set up a National Tele-Mental Health programme. She added that 23 tele-mental health centres would be launched, with the National Institute of Mental Health and Neuro-Sciences (NIMHANS) in Bengaluru as the nodal centre.

Question-3

While the Union Budget 2022 has kept income tax slabs unchanged, tax payers now have an additional ____ years to update their returns.

a) 3

b) None of the above

c) 4

d) 2

Ans- d

Explanation-

The Union Budget 2022-23 has kept income tax slabs unchanged while allowing tax payers an additional two years to update their returns. Union Finance Minister Nirmala Sitharaman on Tuesday while presenting budget proposals said the government’s objective was to further simplify the tax system, promote voluntary compliance by taxpayers, and reduce litigation.

Question-4

The Union Budget has set aside funds for the Ministry of External Affairs to spend on India’s neighbouring countries. Which of these countries has received the biggest allocation of ₹2,266.24 crore?

a) Bhutan

b) Sri Lanka

c) Afghanistan

d) Myanmar

Ans- a

Explanation-

The Budget has allocated funds for projects related to Afghanistan. The Ministry of External Affairs will have ₹200 crore to spend on Afghanistan. The MEA will also dedicate ₹600 crore for Myanmar which is currently reeling from a civil war since the military coup of February 2021. Bhutan, as usual has received the biggest allocation of ₹2,266.24 crore.

Question-5

In the Union Budget, which Central rural scheme, which did not get a mention during the Budget speech, had its allocation cut by 25% to ₹73,000 crore?

a) MGNREGS

b) PM Awas Yojna

c) Pradhan Mantri Gram Sadak Yojana

d) Provision of Urban Amenities In Rural Areas

Ans- a

Explanation-

The Centre’s ₹73,000-crore allocation for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) in 2022-23 is 25% lower than the ₹98,000 crore Revised Estimate for the scheme in the current year, reverting to the same insufficient amount allocated in the last Budget.

Question- 6

Consider the following statements regarding ‘Digital Rupee’

1. It will be issued by the National Payments Corporation of India (NPCI)

2. It will make use of blockchain technology

Choose the correct statements

a) 1 only

b) 2 only

c) Both 1 and 2

d) Neither 1 nor 2

Ans- b

Explanation-

· Statement 1 is incorrect- Digital Rupee will be issued by the Reserve Bank of India starting 2022-23

· Statement 2 is correct- The Central Bank Digital Currency (CBDC) will use block chain and other technologies.

Question 7

‘RAMP Programme’ recently announced in budget is related to

a) Space technology

b) Promoting research in medicine

c) Rural development

d) MSME

Ans- d

Explanation-

Raising and Accelerating MSME Performance (RAMP) programme with outlay of Rs 6,000 crore over 5 years will be rolled out to make the MSME sector more resilient, competitive and efficient.

Question 8

Consider the following statements

1. Capital expenditure forms nearly one-third of the total expenditure

2. Capital expenditure includes expenditure on health, education

3. Effective capital expenditure is the capital expenditure excluding grants in aids to states for creation of capital assets

Choose the correct statements

a) 1 and 2 only

b) 2 only

c) 2 and 3 only

d) 3 only

Ans- b

Explanation-

· Capital expenditure forms nearly 20% of the total expenditure in this year’s budget

· Capital expenditure is the money spent by the government on the development of machinery, equipment, building, health facilities, education, etc. It also includes the expenditure incurred on acquiring fixed assets like land and investment by the government that gives profits or dividend in future.

· Capital expenditure taken together with the provision made for creation of capital assets through Grants-in-Aid to States, the ‘Effective Capital Expenditure’ of the Central Government is estimated at Rs. 10.68 lakh crore in 2022-23, which will be about 4.1% of GDP.

Question 9

With reference to the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), consider the following statements:

1.Strengthening of the Panchayati Raj Institutions is one of its objectives.
2.It is the mandate of the MGNREGA to provide at least 100 days of guaranteed wage employment in a financial year to every household.
3.Resource transfer from Centre to States under the scheme is based on the demand for employment in each State.

Which of the statements given above are correct?

a) 1 and 2 only

b) 2 and 3 only

c) 1 and 3 only

d) All of the above

Ans-b

Explanation-

The mandate of the MGNREGA is to provide at least 100 days of guaranteed wage employment in a financial year to every rural household whose adult members volunteer to do unskilled manual work. MGNREGA is demand driven wage employment programme and resource transfer from Centre to States is based on the demand for employment in each State.

Question 10

Which of the following pair(s) is/are correctly matched?

Digital currency – Country

1.Krona ---- Norway
2. Sand Dollar ----- Bahamas
3.e-RMB ------ China

Select the correct answer from the codes given below:

a) 1 and 2 only

b) 2 and 3 only

c) 1 and 3 only

d) All of the above

Ans- a

Explanation-

According to the Bank for International Settlements, more than 60 countries are currently experimenting with the CBDC. There are few Countries that already rolled out their national digital currency. Such as,

Swedenis conducting real-world trials of their digital currency (krona)
The Bahamasalready issued their digital currency “Sand Dollar” to all citizens
China started a trial run of their digital currency e- RMB amid pandemic. They plan to implement pan-china in 2022. This is the first national digital currency operated by a major economy.