Crisil lowers GDP growth to 6.5 %

Rating agency Crisil, on June 02 joined global banks to scale GDP (gross domestic product) growth for this fiscal down by 50 basis points to 6.5 per cent citing rising downside risks from muted investment demand, continuing policy logjam, and limited fiscal and monetary space to stimulate the economy, apart from continuing recession in the eurozone area.

The agency also attached a caveat that its new growth projection saying this is contingent on a normal monsoon forecast and no further worsening of the eurozone crisis.

Despite a massive drop in crude prices to the tune of nearly 18 per cent, and a massive drop in global commodity prices, the agency also upped its inflation guidance to 7 per cent from 6.5 per cent. The agency also upped its fiscal deficit target to 5.8 per cent.

“We have lowered the GDP growth forecast for 2012-13 to 6.5 per cent from its March 2012 estimate of 7 per cent. The forecast has been scaled down in view of the rising downside risks from recession in the eurozone, muted domestic investment demand, policy logjam, and limited fiscal and monetary space to stimulate the economy,” Crisil Research sad in a note.

The agency further argued that “unlike the swift V-shaped recovery from 6.8 per cent growth in the worst phase of the global financial crisis in 2008-09, economic growth will remain flat in 2012-13, the level of 6.5 per cent achieved in 2011-12. This will make 2012-13 the second consecutive year of lowest growth in the past decade ” Crisil Managing Director and Chief Executive Roopa Kudva said.

“Sub-normal monsoons and a further worsening of the situation in the eurozone can create downside risks to our tepid growth forecast of 2012-13,” warned Kudva.

The Crisil growth downgrade is the first from a domestic agency after the 2011-12 growth numbers were announced last Thursday and comes a couple of days after all the global financial majors such as Goldman Sachs, Morgan Stanley, StanChart, Citi, CLSA and HSBC lowered the growth prospects to 5.7-6.4 per cent for the current fiscal.

In their reports to clients worldwide, most of them blamed policy inaction by the government as the major road block to the economy, which had expanded by 8.4 per cent for two consecutive years in 2009-10 and 2010-11, before plunging to 6.5 per cent in 2011-12.

While Standard Chartered lowered its outlook to 6.2 per cent from 7.1 per cent, Morgan Stanley scaled down growth projection to as low a 5.7 per cent from 6.3 per cent for the current fiscal stating “a stagflation type environment is emerging.” In the stagflation situation, while inflation rises, there is stagnation or lowering of economic expansion. It said the banking system stress remained a concern.

However, Crisil said it saw industry growth improving to 5 per cent over a very weak base of 3.4 per cent growth last fiscal, while its revised downwards the services sector growth to 8.1 per cent, reflecting the sluggish growth prospects in IT/ITeS arising from the weak performance of the eurozone, and slower-than-earlier-expected growth in domestic services due to moderation in private consumption. Under the assumption of normal monsoons, agriculture is expected to grow at the trend rate of 3 per cent.

Raising its inflation guidance to 7 per cent from 6.5 per cent, Crisil said, “although lower economic growth will reduce demand-side pressures on inflation and lower global crude and commodity prices will have a moderating impact, these are likely to be offset by other pressure points.”

“These include the weak rupee and continuing high levels of food inflation. Additionally, an upward revision in diesel, electricity, and minimum support prices of crops can heighten inflationary pressures depending on government decisions on these issues.”

Moving up the rupee outlook to 50 from the earlier forecast of 48-49 by March 2013, Crisil chief economist Dharmakirti Joshi, said, “if the European situation improves towards the beginning of 2013, portfolio inflows into the domestic market will increase due to improved risk appetite, and resultant improved dollar supply will create a push the rupee up.”

Mr. Joshi also hedged his hope on some easing in the current account deficit this fiscal due to softer commodity and crude prices, which will also support the rupee.

On the fiscal deficit, it said it would settle at 5.8 per cent of GDP in 2012-13 versus its earlier estimate of 5.5 per cent and the government's budget estimate of 5.1 per cent.

“With slower GDP growth, government revenue growth will be lower than previously anticipated, thereby pushing up the fiscal deficit. This will increase the government's borrowing requirement and push the yields higher than our earlier projection.”

“Accordingly, we expect the 10-year G-Sec yield around 8-8.2 per cent by March 2013 as against 7.5-7.8 per cent forecast earlier,” Mr. Joshi said.

New Zealand beat Argentina to win Sultan Azlan Shah Cup Hockey Tournament

New Zealand beat Argentina 1-0 to win Sultan Azlan Shah Cup hockey tournament at Ipoh, Malaysia  on 3 June 2012. Andy Hayward scored the only goal for New Zeland in the summit clash, which prevented Argentina, the 2008 winner, to reclaim the trophy.
In a clash for the third spot and bronze medal, India defeated Great Britain 3-1. From Indian side Shivendra Singh,  Sandeep Singh and Tushar Khandekar scored goals at 42nd minute,  52nd minute and 69th minute respectively. Ashley Jackson struck the only goal for the Great Britain at 35th minute of the game. Earlier the Great Britain had outshined the Indian squad in their round robin league encounter.
In another clash for the fifth position the South Korean team defeated hosts Malaysia 3-2 to earn the fifth position. Pakistan for the first time in the history of the tournament ended with the 7th position, bottom most the in the table.

Awards

While the Fairplay Trophy was given to Great Britain, Sardar Singh of India was awarded with the trophy of the Best Player of Tournament. Kyle Pontifex of New Zealand was chosen the Best Goalkeeper for the tournament. Kyle Pontifex of New Zealand was awarded with the Man of the Final trophy. Ashley Jackson of Great Britain emerged the top scorer of the tournament

Final Table

1    New Zealand
2    Argentina   
3    India
4    Great Britain
5    South Korea
6    Malaysia
7    Pakistan

National Telecom Policy (NTP)-2012 was approved by union cabinet

The Union Cabinet approved the National Telecom Policy -2012 (NTP - 2012) and also approved introduction of Unified Licence and authorised the Department of Telecommunications to finalise the new Unified Licensing regime with the approval of Minister of Communications & IT.

The salient features of the National Telecom Policy-2012 are as follows: 

The policy envisions providing secure, reliable, affordable and high quality converged telecommunication services anytime, anywhere for an accelerated inclusive socio-economic development. The main thrust of the Policy is on the multiplier effect and transformational impact of such services on the overall economy. 

The thrust areas of NTP - 2012 are

• Increase rural teledensity from the current level of around 39 to 70 by the year 2017 and 100 by the year 2020

• Repositioning of Mobile phone- as an instrument of empowerment

• Broadband –“'Broadband For All” at a minimum download speed of 2 Mbps

• Domestic Manufacturing- Making India a global hub

• Convergence of Network, Services and Devices

• Liberalisation of Spectrum- any Service in any Technology

• Simplification of Licensing regime- Unified Licensing, delinking of Spectrum from License, Online real time submission and processing

• Consumer Focus - Achieve One Nation - Full Mobile Number Portability and work towards One Nation - Free National Roaming

• Resale of Services

• Voice over Internet Protocol

• Cloud Computing, Next Generation Network including IPV6

The policy seeks to provide a predictable and stable policy regime for a period of about ten years. Policy will be operationalised by bringing out detailed guidelines, as may be considered appropriate, from time to time. Implementation will enable smooth implementation of the policies for providing an efficient telecommunication infrastructure taking into account the primary objective of maximizing public good by empowering the people of India. The policy will further enable taking suitable facilitatory measures to encourage existing service providers to rapidly migrate to the new regime in a uniformly liberalised environment with a level playing field.

India’s Fiscal Deficit eased to 5.7 in the Fiscal Year 2011-12

According to the figures released by Controller General of Accounts (CGA) on 31 May 2012, India’s fiscal deficit eased to 5.7 per cent of GDP, lower than 5.9 per cent projected in the revised estimates in the Budget.
Fiscal deficit, the difference between the government's total receipts and expenditure, capped at 5.09 trillion rupees in 2011-12. While the tax revenue receipts curbed to 6.31 trillion rupees against the projected figure of 6.42 trillion rupees, government’s expenditure both non-plan expenditure and plan expenditure also went down at 8.84 trillion rupees and 4.13 trillion rupees respectively. The revenue deficit was at 4.3% of GDP.
The government is working hard to curtail the broadening fiscal deficit and aiming to bring it down to 5.1 per cent in the fiscal year 2012-13. In order to meet its fiscal deficit target the finance ministry is eyeing to cut the subsidy bill to below 2 per cent of GDP in the fiscal year 2012-13and 1.75 per cent in the subsequent years. The slowing economy is making it difficult for the government to achieve its fiscal deficit target.
The gross domestic product (GDP) data released by the Central Statistical Organisation (CSO), had capped the GDP growth rate rate of India in 2011-12 at 6.5 per cent, as against the earlier estimate of 6.9 per cent.

India's Exports registered a Growth of 3.2 Per Cent in April 2012

According to data released by the Commerce Ministry in New Delhi on 1 June 2012 India's exports registered a growth of 3.2 per cent on year-on-year basis to 24.4 billion dollar in April 2012. Exports figure in April 2011 stood at 23.6 billion dollar. The slumping export figures are largely attributed to the slowing global demand of goods.
Imports during the same period witnessed a growth of 3.8 per cent to 37.9 billion dollar, creating a trade deficit of 13.4 billion dollar. In April 2012, the country's oil imports grew about 7 per cent to 13.9 billion dollar compared to the same period in 2011. Non-oil imports expanded 2 per cent on year-on-year basis to 24 billion dollar during April the first month of fiscal year 2012-13.
On an annual basis Indian exports expanded 21 per cent to 303.7 billion dollar in the fiscal year 2011-12. The imports during the same period grew 32.2 per cent to 488.6 billion dollar. The trade deficit for the full fiscal year was 184.9 billion dollar.
A higher trade deficit will have an adverse impact over already ailing Indian economy. The broadening trade deficit could worsen the current account balance of the country and further weaken the rupee.

Growth Rate of Eight Core Infrastructure Industries dipped to 2.2% in April 2012

As per the official data released on 31 May 2012, the growth rate of eight core infrastructure industries dipped to 2.2 per cent in April 2012 from 4.2 per cent in April 2011. The eight core sectors — crude oil, petroleum refinery products, coal, electricity, cement and finished steel has a weight of 37.9 per cent in the Index of Industrial Production (IIP). The dip in the growth of the core sector industries was attributed to poor performance by sectors such as natural gas, crude oil and fertilizers.
The overall infrastructure sector growth for March 2012 was revised downwards to 2.2 per cent as compared to a healthier 6.5 per cent expansion witnessed in the same month last year. Also, the cumulative growth of infrastructure industries was found to have slipped to 4.4 per cent, which is significantly lower than the 6.6 per cent increase seen in 2010-11.
As per the data released by the CSO, natural gas and crude oil output during April 2012 fell by 11.3 per cent and 1.3 per cent, respectively. Petroleum refinery products and fertiliser production also witnessed negative growth rates, contracting by 2.8 per cent and 9.3 per cent in April 2012. Slowdown in electricity generation was also witnessed in April. Electricity generation grew at a lower pace of 4.6 per cent during the month as compared to 6.4 per cent in April 2011.
However, three sectors- coal, steel and cement were noted to have fared better as compared to 2011. While coal production went up by 3.8 per cent in April 2012 as compared to an increase of 2.7 per cent witnessed in April 2011, the output of steel and cement grew by a healthy 5.8 per cent and 8.6 per cent during April 2012 as compared to negative growth rates of (-) 2.9 per cent and (-) 0.1 per cent witnessed by the two sectors in the corresponding period of 2011.

GENERAL AWARENESS PRACTICE MCQs

1. The Govt of India has decided to declare which of the following rivers a National River?
a) Brahmaputra
b) Yamuna
c) Ganga 
d) Kaveri    
e) None of these

2. Who amongst the folIowing economists gave the concept of "economies of scale", which says "many goods and services can be produced more cheaply in long series"?
a) Edward C Prescott
b) Amartya Sen
c) Gary S Becker
d) Edmund S Phelps
e) Paul Krugman


3. Very often we read in newspapers/magazines about "Sovereign Wealth Funds". Which of the following is/ are the correct description of the same?
(A) These are the funds or the reserves of a government or central bank of a country which are invested further to earn profitable returns.
(B) These are the funds which were accumulated by some people over the years but were not put in active circulation as they retain them as Black Money for several years.
(C) The funds which are created to be used as relief funds or bailout packages are known as sovereign funds.
a) Both B & Conly
b) Only B
c) Only C
d) Only A
e) None of these

4. Very often we read about Special economic Zones (SEZs) in newspapers. What is the purpose of promoting SEZs in India?
(A) They are established to promote exports.
(B) They are established to attract investments from foreign countries.
(C) They are established to help the poorest of the poor in India as the activities of these zones are reserved only forthe poors and those living below poverty line.
a) Only A    
b) Only B
c) Only C
d) Both A & B only
e) None of these

5. The ratio of the Cash Reserves that the banks are required to keep with the RBI is known as
a) Liquidity Ratio    
b) SLR
c) CRR    
d) Net Demand & Time Liability
e) None of these

6. The-Govt ofIndia in order to provide some relief to the exporters announced a relief-package of Rs
a) 1000 cr
b) 2500 cr
c) 4000 cr    
d) 5000 cr
e) 7000 cr

7. The availability of cash and other cash-like marketable instruments that are useful in purchases and investments are commonly known as
a) Cash crunch
b) Liquidity
c) Credit
d) Marketability
e) None of these

8. The White Tiger is a book written by
a) Amitav Ghosh    
b) Arundhati Roy
c) VS Naipaul    
d) Kiran Desai
e) Aravind Adiga

9. Besides USA and France, India has a Civil Nuclear Deal with
a) Britain    
b) Russia
c) Germany 
d) Canada
e) Australia

10. Jnanpith Award is given for excellence in the field of
a) Music    
b) Literature    
c) Sports
d) Films    
e) Social Services

11. As per newspaper reports, India's trade gap has been showing a negative growth for the last few months. "Trade Gap" means what?
a) Gap between total GDP and total consumption
b) Gap between total imports and total exports
c) Gap between available liquidity and expected demand in next five months
d) Gap between budgeted revenue collection and actual collection of the same
e) None of these

12. 'Equity schemes managed strong NAV gains, which, boost their assets' was a news in some financial newspapers. What is the full form of the term NAVas used in above head lines?
a) Nil Accounting Variation
b) Net Accounting Venture
c) Net Asset Value
d) New Asset Venture
e) None of these

13. As per reports published in various newspapers, mutual fund companies showed 94 per cent growth in their total profits during 2009-10. This means the profits earned by these companies were 94 per cent
a) in their total investments they made collectively during the year
b) more than their profits during previous year
c) of the total capital of the company
d) less than the total expenditure of the companies
e) None of these

14. As per the reports published in some major news papers "ADAG companies" made good profits during the year. ADAG companies are popularly known as
a) Companies owned by Tata Group
b) Aditya Birla Companies
c) Reliance Companies
d) Companies owned by Aptech
e) None of these

15. "Mutual Funds reported exceptional performance in 2009-10" was the news in major financial news papers recently.  What is a mutual fund?
A. A type of collective investment scheme that pools money from many investors and invests it in stocks, bonds or other money market instruments.
B. It is a subsidiary of a bank or financial company created specially to raise money to be invested in a particular industry, ie housing or insurance etc. The money raised thus cannot be invested anywhere else.
C. When several banks and financial companies come together and create a common pool of money to fund mega infrastructural project like bridges, roads, power plants etc, the common pool is known as Mutual Fund.
a) Only A
b) Only B
c) Only C
d) All A, B & C
e) None of these

16. We very frequently read about Europe's sovereign debt crisis these days. Which of the following statements/is/are true about the same?
A. In early 2010 the Euro crisis developed in some countries like Greece, Spain and Portugal.
B. This created a credit default swap between the countries of the European Union ..
C. SAARC countries have offered some assistance to some of the severely affected countries like Portugal, Spain and Greece.
a) Only A
b) Only B
c) OnlyA & B
d) All A, B & C
e) None of these

17. As per the announcement made by the RBI, some Stock Exchanges in India are allowed to introduce Plain Vanilla Currency Options. The term Plain Vanilla Currency Options is associated with which of the following activities/operations?
a) Dollar-Rupee Exchange Rate
b) Floating of Commercial Papers
c) Launch of new mutual funds
d) Deciding the opening price of a share on a particular" business day
e) None of these

18. The process of "Artificial Application of Water to the soil usually for assisting in growing crops" is technically known as
a) water harvesting
b) irrigation
c) water recharging
d) percolation
e) none of these

19. Waste Water generates which of the following gases. which is more powerful and dangerous than C02?
a) Nitrogen    
b) Sulphur dioxide
c) Hydrogen
d) Methane
e) None ofthese

20. Which of the following days was observed as World Water Day 2010?
a) 20th June
b) 22nd July
c) 22nd March
d) 20th May
e) None of these

21. "Indira Gandhi Canal", which is around 450 km long, provides irrigation facility mainly to which of the following states?
a) Punjab
b) Haryana
c) Madhya Pradesh
d) Gujarat
e) Rajasthan

22. Who amongst the following is the director of the popular Hindi film "OyeLucky ! Lucky Oye"?
a) Mani Ratnam    
b) David Dhavan
c) Dibakar Banerjee    
d) R Balakrishnan
e) None of these

23. Which of the following is NOT a missile developed by the Defence Research and Development. Organisation (DRDO) ?
a) Shaurya
b) Pinaka
c) Brahmos
d) Agni    
e) Nag

24. Which ofthe following metals is used for generation of Nuclear Energy by most of the Nuclear Power Plants?
a) Zinc    
b) Platinum    
c) Uranium
d) Nickel    
e) None of these

25. Indus Water Treaty is a pact on' sharing of river water between India and
a) Bangladesh    
b) Pakistan
c) Nepal
d) Afghanistan
e) Myanmar

26. Which of the following is/are considered a Renewable Source of Energy?
A. Wind Energy
B. Solar Energy
C. Nuclear Energy
a) OnlyA  
b) OnlyB
c) OnlyC
d) Only A & B
e) All A, B' & C

27. Mrs. Pratibha Patil is the _______the President of India 
a) 10th President of India
b) 11th President of India
c) 12th President of India
d) 1st President of India
e) 15th President of India

28. How many intertwined rings are shown in the Olympic Flag used these days in the games?
a) Five
b) Six   
c) Seven
d) Three
e) None of these

29. India's 'Look East' trade policy is designed to help particularly members of which of the following group of nations?
a) SAARC    
b) ASEAN
c) WTO
d) NAT
e) EU

30. Which of the following countries has signed a 22-Point Agreement with Madhesi People's Right Forum (MPRF)?
a) China    
b) Nepal    
c) India
d) Bangladesh    
e) Myanmar

31. 'Brahmos' is designed to be used by which of the following?
a) Indian Navy
b) Indian Army
c) Indian Air Force
d) Border Security Force
e) All of these

32. Which of the following agencies/organisations is setting up India's first Natural Resource Data Centre in Kolkata?
a) RBI 
b) SEBI
c) NABARD
d) S~C    
e) BARC

33. The Finance Minister ofIndia recently made a mention that Infrastructure Development in India should be done on PPP model only. What is the full form of'PPP'?
a) Purchasing Power Parity
b) Public Private Partnership
c) Purchase Produce Provide
d) People's Programme & Priority
e) None of these

34. The Global Non-Violence Day was observed on which of the following days?
a) 15th August
b) 14th November
c) 19th September
d) 2nd October
e) 30th January

35. The period for 11 th Five Year Plan is
a) 2005-10
b) 2006-11    
c) 2007-12
d) 2008-13    
e) None of these

36. Who amongst the following has played the main/lead role in the film Chak De India?
a) Abhishek Bachchan    
b) Salman Khan
c) Aamir Khan    
d) Shah Rukh Khan
e) None of these

37. 'Ranji Trophy' is associated with the game of
a) Hockey    
b) Football
c) Badminton
d) Cricket
e) Tennis

38. Which ofthe following awards is given for excellence in literary work?
a) Bharat Ratna
b) Shanti Swamp Bhatnagar Award
c) DronacharyaAward
d) Arjuna Award
e) Pulitzer Prize

39. Roger Federer, who won the US Open 2007 Tennis Championship, is a citizen of
a) Belgium
b) France
c) Russia
d) USA    
e) Switzerland

40. Which of the following awards is NOT a 'Gallantry I Award'?
a) Mahavir Chakra    
b) Vir Chakra
c) Vishista Sewa Medal
d) Ashok Chakra
e) Saraswati Saminan

41. As per the to Commerce Ministry data released on 2 January 2012, India’s exports recorded their slowest pace of growth in two years in November 2011. What was the per centage of growth recorded?
a) 4.2%
b) 3.8%
c) 2.2%
d) 0.94%

42. The capital market regulator SEBI on 3 January 2012 allowed auctioning of securities through stock exchanges and introduced a new method for institutional placement of stocks. Which of the following facts related to the above statement is/are not true?
1. Under the institutional placement programme (IPP), shares can be sold only to qualified institutional buyers.
2. There shall be at least 25 allottees in every IPP issuance. No single investor shall receive allotment for more than 25% of the offer size
3. The IPP method can be used to increase public holding by 10% and could be offered to only qualified institutional buyers with 25% being reserved for mutual funds and insurance companies
4. Under the IPP, companies will have to announce the ratio of buy-back, as is done in the case of rights issues and fix a record date for determination of entitlements as per shareholding on record date
a) Only 1
b) Only 3
c) Only 2
d) Only 4

43. What is the Finace Ministry’s decision on the rates applicable on small savings instruments schemes that would be announced on April 1 each year?
a) rate would remain valid till the maturity of the scheme
b) rate would change in the first qurter of that respective year
c) rates would change depending on different maturity period
d) rates would remainvalid for six months post the maturity

44. Scientists discovered unknown species off the coast of Antarctica. Consider the following statements: i) The temperature in this region rises to 380 degree Celsius. Ii) There is plenty of light in this region.
Which of the above statements is/ are correct?
a) Only i
b) Only ii
c) Both i and ii
d) Neither i nor ii

45. Scientists produced artificial human semen to help infertile men.  Consider the following statements:
i) The scientists grew the sperm by enveloping the germ cells in a special compound called agar jelly.
ii) The artificial human semen could help infertile men father their own children.
Choose the right option:
a) Both i and ii are correct.
b) Only i is correct.
c) Only ii is correct.
d) Neither i nor ii is correct.

46. Health Authorities in Australia recently detected Deadly Disease, Murray Valley Encephalitis.  The disease is caused by the__.
a) Flies
b) Mosquitoes
c) Birds
d) Dogs

47. Which PSU announced on 2 January 2012 that its board approved in a meeting held on 30 December 2011 the switching over to internationally-accepted Gross Caloric Value-based pricing mechanism?
a) BHEL
b) ISPAT
c) CIL
d) IOC

48. Mukesh Ambani’s Reliance Industries Ltd (RIL) entered the media and entertainment sector by making a major investment in one of India’s largest broadcast companies. Name the broadcast company.
a) Network18 Group
b) Adlabs Films
c) Balaji Telefilms
d) Bag Films

49.  India approved the acquisition of French advanced missile systems to arm the Mirage-2000 fighter jets. Consider the following statements:
i)  The cabinet committee on Security cleared the contract for the fire and forget MICA with French company MBDA.
ii) MICA are interception and aerial combat missiles.
Choose the right option:
a) Both i and ii are correct.
b) Only i is correct.
c) Only ii is correct.
d) Neither i nor ii is correct.

50.  The Union government approved Katra-Quazigund Railway line project. The project is located in__.
a) Jammu and Kashmir
b) Bihar
c) Punjab
d) Haryana

51.
(1) Theatre director, screenplay writer and actor Satyadev Dubey, credited with introducing existential and absurd theatre, passed away on 25 December 2011. Which facts about the concerned person is/are not true?
(2) he got attracted to the post-1947 theatre and joined Theatre Unit, the theatre group-cum-school founded by Ebrahim Alkazi
(3) Dubey came into prominence with Dharamvir Bharati’s radio-play Andha Yug that brought to the fore the pervasive criminal and homicidal tendencies during the times of war.
(4) He penned screenplays/dialogue of some acclaimed films in the 1970s, including Shyam Benegal's Nishant, Ankur, Kalyug and Bhumika
(5) He won the Filmfare Award for Best Dialogue in 1980 for the film Ankur
a) Only 1
b) Only 4
c) 2 & 3
d) Only 2

52. Lok Sabha on 27 December 2011 passed the Lokpal and Lokayukta bill, 2011. Consider the following statements:
i) The setting up of Lokayuktas by the states would not be mandatory.
ii) The constitutional amendment bill fell through.
Choose the right option:
a) Both i and ii are correct.
b) Only i is correct.
c) Only ii is correct.
d) Neither i nor ii is correct.

53.
(1) Reserve Bank of India deregulated non-resident external (NRE) deposits on 16 December 2011 allowing banks  to offer higher interest rates to dollar-denominated accounts. Which of the following facts related to the above statement is/are not true?
(2) Reserve Bank freed the rates on non-resident external accounts, offering interest as high as 9.6% per annum
(3) Following RBI’s deregulation five Indian banks, including HDFC Bank and Yes Bank on 23 December 2011 raised their interest rates on such deposits in order to lure foreign money
(4) Private lender Yes Bank increased the interest rates on fixed deposits held by non-resident Indians (NRIs) to 8.4 per cent from 3.82 per cent
(5) The new rates are effective from 24 December for fresh deposits as well as those being renewed on maturity.
a) 1 & 2
b) Only4
c) Only 3
d) 1 & 4

54. According to the RBI data, India's foreign exchange reserves fell by what amount to $302.1 billion during the week ended 16 December  2011 on account of a fall in foreign currency assets?
a) $4.67 billion
b) $3.33 billion
c) $5 billion
d) $5.75 billion

55. Telecom Commission, the decision-making body of the Department of Telecommunications recommended a uniform licence fee of what per cent of adjusted gross revenues (AGR) as against the prevalent rate of 6-8 per cent?
a) 10%
b) 8%
c) 5.2%
d) 9.3%

56.  NASA's Kepler mission discovered the first Earth-size planets orbiting a sun-like star outside our solar system. These planets are called ___ and____.
a) Kepler-20e; Kepler-20f
b) Kepler-20a; Kepler-20b
c) Kepler-20c; Kepler-20d
d) Kepler-20m; Kepler-20n

57. Scientists at the Salk Institute for Biological Studies report discovered a missing link between the body’s biological clock and sugar metabolism system. Consider the following statements
i) Sugar Metabolism is a process by which the body uses sugar for energy.
ii) If the human body produces too little insulin, the amount of sugar in the blood increases abnormally, a condition known as hyperglycemia.  Choose the right option:
a) Both i and ii are correct.
b) Neither i nor ii is correct.
c) Only i is correct.
d) Only ii is correct.

58. Name the gene found by the neuroscientists, which could help in creating and altering memory.
a) Mpas 4
b) Npas 4
c) Npas 3
d) Mpas 2

59. Name the Rashtriya Lok Dal (RLD) leader who was inducted into the Union Cabinet as civil aviation minister on 18 December 2011.
a) Ajit Singh
b) Jayant Chaudhary
c) Devendra Nagpal
d) Sanjay Singh Chauhan

60. Popularly known as Adam Gondvi, this Hindi poet who  wrote revolutionary poetry focusing on the pathetic state of dalits and the poor breathed his last in Lucknow on 18 December 2011. Name the poet.
a) Bharat Bhusan
b) Ram Nath Singh
c) Uday Prakash
d) Shail Chaturvedi
e) Naresh Mehta

61. The Union cabinet of India on 22 December 2011 approved __ percent share for minorities within the 27% OBC quota in jobs and university seats.
a) 4.5
b) 5.6
c) 3.4
d) 5

62. The Manipur Legislative Assembly passed the Manipur Lokayukta Bill, 2011. Manipur will be the __state in North-Eastern India to have alegislation of Lokayukta.
a) Second
b) Third
c) First
d) Fourth

63.
(1) Former Czech president Vaclav Havel who had been suffering from chronic respiratory problems died on 18 December 2011. Which of the following facts mentioned about him is/are not true?
(2) He was the tenth and last president of Czechoslovakia (1989–92) and the second President of the Czech Republic (1993–2003)
(3) He played a seminal role in the Velvet Revolution that ended four decades of repression by a regime which Havel ridiculed as Absurdistan.
(4) He co-authored the human rights manifesto Charter 77, which drew wide attention in the West.
(5) As president, he oversaw the country's transition to democracy and a free-market economy and also the peaceful 1993 breakup into the Czech Republic and Slovakia.
a) Only 3
b) Only 1
c) 1 & 4
d) Only 4

64. The enigmatic leader of North Korea Kim who led his nation for 17 years through a devastating famine while frustrating the United States and other global powers with approach to talks on giving up nuclear arms in return for food and other assistanceon died on 17 December 2011 after he suffered a massive heart attack. Name the leader
a) Kim Jong-il
b) Kim Il-sung
c) Kim Jong-un
d) Kim Jong-chul

65. Which Controversial film based on the 116-year-old Mullaperiyar dam and directed by Sohan Roy made it to a shortlist for the Oscars under the Best Picture category?
a) Rio and The Muppets
b) Undefeated
c) Project Nim
d) Dam 999

66. India and Australia on 16 December 2011 signed an agreement to amend DTAA (Double Taxation Avoidance Agreement).  DTAA was signed between India and Australia in__.
a) 1990
b) 1991
c) 1992
d) 1995

67. The Indian women's hockey team defeated Ireland 4-1 win to clinch the bronze medal in the four-nation tournament held in Parana, Argentina in December 2011. Which team won the gold medal?
a) South Africa
b) USA
c) Argentina
d) Pakistan

68. Who defeated ace badminton player and World No. 4 Saina Nehwal of India in the women’s singles final of the $500000 BWF World Super Series badminton championship in China on 18 December 2011?
a) Zhang Ning
b) Xie Xingfang
c) Xu Huaiwen
d) Wang Yihan

69. Which India striker was on 20 December 2011 voted Player of the Year by the All India Football Federation?
a) Sunil Chhetri
b) Savio Medeira
c) Kyrshan Lyngshing
d) Babu Mani

70. Diesel consumption in Delhi declined by a startling 26% in 2010-11 compared to 2009-10. Delhi was however found to have used 2.24% more petrol in the same period. As per the latest Delhi government figures, the consumption of diesel in the city stood at what amount in 2010-2011?
a) 10.98 lakh metric tonnes
b) 7.5 lakh metric tonnes
c) 8.11 lakh metric tonnes
d) 6 lakh metric tonnes

71. Fears of continuing economic slowdown, lack of decision making at the centre, rising fiscal deficit combined with not-so-impressive revenue collections upset Dalal Street investors on 20 December 2011. Which of the foolowing facts  related to the above statement is/are not true?
1. Fears of continuing economic slowdown, lack of decision making at the centre, rising fiscal deficit combined with not-so-impressive revenue collections led to a 204 points loss in sensex that ended at 15175
2. The slide on 20 December 2011 was triggered by FII selling which recorded a net outflow of Rs 600 crore, taking the month’s total net outflow to about Rs 1700 crore.
3. The combined effect of the market’s slide and the depreciation of the rupee forced India to exit from the select group of countries with a $1 trillion market capitalization
4. There was not even a single ADR issue in 2011. However, companies raised about $220 million through GDRs (Global Depository Receipts) during 2011
a) Only 1
b) 3 & 4
c) Only 3
d) Only 2

72. Credit rating agency Moody's on 21 December 2011 upgraded the credit rating of the Indian government's bonds from the speculative to investment grade. Which of the following facts related to the above statement is/are true?
1. According to a release issued by the Finance Ministry, Moody's unified India's local and foreign currency bond ratings at Baa3
2. Moody's Investor Service upgraded its local currency rating for Indian government bonds to Baa3 which is speculative grade as compared to the earlier Ba1 which is junk or investment grade.
3. India's foreign currency bond ceiling is unchanged at Baa2, and the foreign currency bank deposit ceiling is Baa3. The local currency bond and bank deposit ceilings are unified at A1.
4. The government's local currency short-term rating has been changed to P-3 from NP, indicating the government's ability to repay short-term debts.
a) Only 2
b) Only 1
c) 1 & 3
d) Only 4

73. According to official data released here on 22 December 2011, food inflation dropped sharply to an almost four-year low of what per cent during the week ended 10 December indicating an overall easing of prices?
a) 1.5%
b) 1.32%
c) 1.81 %
d) 2.32%

74. Which of India's leading commodity bourses on 20 December 2011 became the world's fifth-largest commodity futures exchange?
a) National Multi Commodity Exchange of India
b) Bharat Diamond Bourse
c) Multi Commodity Exchange
d) Bombay Stock Exchange

75. Ravi Ruia decided on 21 December 2011 to step down as chairman of which of the following London-listed after a trial court admitted a criminal chargesheet filed by the investigating agency, CBI?
a) Essar Energy
b) Essar Shipping
c) Essar Oil
d) Eaasr Technologies

76. Which company won the award for Alternative Thinking and Driving Positive Change in the Fleet Owner category at the Mahindra Navistar Transport Excellence Awards 2011 at Hotel Ashok here on 20 December 2011?
a) Tata Motors
b) Hero Group
c) Edu Comp
d) Agarwal Packers & Movers

77. Which PSU lender decided to aggressively market its gold loan scheme for farmers to prevent defaults after the agriculture sector witnessed a sharp spike in bad debt in the past one year?
a) Union Bank
b) United Bank of India
c) Industrial Development Bank of India
d) State Bank of India

78. Who did the Central Government appoint as Chairman and Managing Director (CMD) of Andhra Bank?
a) B. A. Prabhakar
b) O. P. Bhatt
c) Pratip Chaudhuri
d) S. Vishvanathan

79. The directorate general of hydrocarbons (DGH), the technical arm of the oil ministry approved which company’s proposal to commence production from Bhagyam, the second-largest oil field in the Rajasthan block?
a) Essar Oil
b) ONGC
c) Cairn India
d) Indian Oil

80. Scientists discovered that the protein__ is responsible for regulating fatty acid oxidation in the liver and is critical for metabolism.
a) CPT1
b) CTP1
c) CTT1
d) CPT2

81. British Scientists recently developed a technology to produce pocket TV. Consider the following statements:
i) Scientists developed a new form of light-emitting crystals, known as quantum dots.
ii) These tiny crystals are 100000 times smaller than the width of human hair.
Choose the right option:
a) Both i and ii are correct.
b) Only i is correct.
c) Only ii is correct.
d) Neither i nor ii is correct.

82. Scientists developed a hydrogel that regenerate healthy and scar-free tissue on skin damaged by severe burns.  Consider the following statements:
i) The hydrogel helps in formatting of new blood vessels and skin including hair follicles.
ii) The injured soldiers, fire victims and people with third degree burns can avail of the gel.
Choose the right option:
a) Both i and ii are correct.
b) Only i is correct.
c) Only ii is correct.
d) Neither i nor ii is correct.

83. The Sangita Kalanidhi M.S. Subbulakshmi Award was presented to whom at the inauguration of the 85th annual conference of the Music Academy in Chennai on 15 December 2011?
a) S.R. Nathan
b) Trichy Sankaran
c) Subramania Pillai
d) Subramaniyam Iyer

84. The 40th anniversary of vijay diwas was celebrated on which day marking the finest hour of the Indian armed forces when they defeated Pakistan, leading to the creation of Bangladesh in 1971?
a) 12 December
b) 15 December
c) 16 December
d) 18 December

85. The Himachal Pradesh Cabinet on 15 December 2011 approved amendment to the state industrial policy. Consider the following statements:
i) The amended industrial policy seeks to promote environmentally sustainable development in the state and encourage cleaner production and adoption.
ii) Under this policy, disincentive industries will be put on negative list.
Choose the right option:
a) Both i and ii are correct.
b) Only i is correct.
c) Only ii is correct.
d) Neither i nor ii is correct.

86. The Supreme Court of India directed Tamil Nadu to ensure that the water level in the Mullaperiyar dam does not exceed __but declined to entertain Kerala’s plea for reducing the level to__.
a) 136 feet; 120 feet
b) 120 feet; 136 feet
c) 140 feet; 112 feet
d) 150 feet; 140 feet

87. A parliamentary committee on 13 December 2011 rejected the proposal to allow what percentage foreign direct investment in the insurance sector?
a) 51%
b) 49%
c) 43%
d) 29%

88. According to data from research body All India Organisation of Chemists and Druggists (AIOCD), Indian drugmakers posted a certain per cent month-on-month growth in sales of November 2011 which was the highest in the past 14 months. What was the per cent of sales growth projected for the month?
a) 23%
b) 31%
c) 21%
d) 43%

89. The government waived loan of handloom weavers in India to help revive the sector under the scheme of Revival, Reform and Restructuring Package for Handloom Sector. What amount of loan was waived?
a) Rs 548.35 crore
b) Rs 420.66 crore
c) Rs 506.64 crore
d) Rs 3521 crore

90. A committee on mutual funds, constituted by SEBI in december 2011 recommended to the regulator’s board to break down the bifurcation within the fee structure known as expense ratio. Which of the following facts are not true with regard to the above statement?
1. Currently  mutual funds are allowed to charge up to 2.25% as expense ratio. fund houses are allowed to accept only 1.25% as asset management charges
2. Funds with large corpuses currently charge 1.55% as expenses charges
3. SEBI was suggested to keep overall scheme expenses unchanged at 2.25% for schemes with assets under management not exceeding Rs 400 crore
4. Expense ratio is more than important in debt schemes where the rate of return is not hig.
a) 1 & 2
b) 3 & 4
c) 1 & 3
d) Only 2
e) None of the above

91. Which player became the first player to win the Orders of Merit on both sides of the Atlantic on 11 December 2011 when he shot a closing 66 to finish third in the Dubai World Championship?
a) Luke Donald
b) Alvaro Quiros
c) Rory McIlroy
d) Paul Lawrie

92. Which country defeated Spain 1-0 to win for the 4th time hockey’s Champions Trophy title on 11 December 2011?
a) Pakistan
b) New Zealand
c) Australia
d) Greece

93. Name the woman squash player who on 10 December 2011 annexed the elusive women’s title while in the Senior National Squash Championship in Chennai.
a) Sarah Fitz-Gerald
b) Dipika Pallikal
c) Anaka Alankamony
d) Sushma Pillai

94.
(1) The Centre for Development of Telematics (C-DoT) on 5 December 2011 transferred indigenously-developed Gigabit Passive Optical Network (GPON) technology to seven telecom equipment manufacturers. Which of the following facts about the technology is not true?
(2) The GPON technology is a pivotal component required for broadband connectivity over optical fibre.
(3) C-DOT indigenously designed and developed GPON technology, which can be used to provide triple play (voice, video and data) through fibre-based networks
(4) The GPON technology was tested, validated, field-evaluated and made operational in MTNL's/VSNL’s network in Ajmer (Rajasthan)
(5) The technology will help fulfil requirements of major national programmes like the National Optical Fibre Network and the State Wide Area Network.
a) Only 1
b) Only 3
c) 1 & 4
d) Only 4

95. Bank lending to the priority sector grew at what percentagein October 2011 on an annual basis due to lower offtake by agriculture and MSME segments as well as decline in micro credit?
a) 10%
b) 12%
c) 13.7%
d) 8.3%

96. With the inauguration of the first state-of-the-art ATDC-SMART (Skill for Manufacturing Apparels through Research and Training) in Egmore, Chennai, the Ministry of Textiles launched which of the following schemes?
a) National Technology Mission for Technical Textiles
b) Integrated Skill Development Scheme
c) Technology Upgradation Fund Scheme (TUFS) For Textile
d) Rural Textiles Technology Development Skill


97. Which bank signed a memorandum of understanding with Life Insurance Corporation of India (LIC) to use the National Electronic Funds Transfer (NEFT) facility  to facilitate electronic funds transfer of policy payments to policyholders?
a) IDBI
b) Corp Bank
c) Indian Overseas Bank
d) Dhanlaxmi Bank

98. World Aids Day is observed anually on 1 December 2011. What was the theme of World AIDS Day 2011?
a) Getting to Zero
b) Stigma and Discrimination
c) Women & AIDS
d) Force For Change: World AIDS Campaign With Young People

99.
(1) An icon of Indian cinema and evergreen star Dev Anand died at the age of 88 in London on 3 December 2011 (4 December according to IST) after suffering a massive cardiac arrest. Which of the following facts about him is/are not true?
(2) Dev Anand started his career with Prabhat Films' Hum Ek Hain (1946) soon after he joined IPTA
(3) Anand started producing films after the success of Ziddi. He launched his own company Navketan in 1949 which, by 2011, had produced 31 films
(4) His first colour film, Johny Mera Naam with Waheeda Rehman was based on the novel of the same name by R. K. Narayan
(5) The Government of India honoured him with the Padma Bhushan in 2001 and the Dadasaheb Phalke Award in 2002
a) 1 & 4
b) Only 3
c) 2 & 4
d) 1 & 4

100. The Golden Peacock Award for the Best Film was given to which of the following films at the 42nd International Film Festival of India which came to an end at the Kala Academy in Panaji, Goa on 3 December 2011?
a) Russian film Elena
b) an Israeli film Restoration
c) Columbian Film Porfirio
d) Malayalam film Adaminte Makan Abu
 

Answers
1.	(c)	26.	(d)	51.	(b)	76.	(d)
2.	(e)	27.	(c)	52.	(a)	77.	(d)
3.	(d)	28.	(a)	53.	(c)	78.	(a)
4.	(d)	29.	(b)	54.	(a)	79.	(c)
5.	(c)	30.	(b)	55.	(b)	80.	(a)
6.	(d)	31.	(b)	56.	(a)	81.	(a)
7.	(b)	32.	(c)	57.	(a)	82.	(a)
8.	(e)	33.	(b)	58.	(b)	83.	(b)
9.	(b)	34.	(d)	59.	(a)	84.	(c)
10.	(b)	35.	(c)	60.	(b)	85.	(a)
11.	(b)	36.	(d)	61.	(a)	86.	(a)
12.	(c)	37.	(d)	62.	(b)	87.	(b)
13.	(b)	38.	(e)	63.	(b)	88.	(c)
14.	(c)	39.	(e)	64.	(a)	89.	(d)
15.	(a)	40.	(e)	65.	(d)	90.	(d)
16.	(a)	41.	(b)	66.	(b)	91.	(a)
17.	(a)	42.	(c)	67.	(c)	92.	(c)
18.	(b)	43.	(a)	68.	(d)	93.	(b)
19.	(d)	44.	(a)	69.	(a)	94.	(b)
20.	(c)	45.	(a)	70.	(c)	95.	(a)
21.	(e)	46.	(a)	71.	(d)	96.	(b)
22.	(c)	47.	(c)	72.	(a)	97.	(d)
23.	(a)	48.	(a)	73.	(c)	98.	(a)
24.	(c)	49.	(a)	74.	(d)	99.	(b)
25.	(b)	50.	(a)	75.	(a)	100.	(c)

National Green Tribunal suspended Environment Clearance to the Srikakulam Thermal Power Plant

The National Green Tribunal suspended environment clearance to the thermal power plant in Srikakulam district in Andhra Pradesh on 24 May 2012. The tribunal also instructed the Union Environment Ministry to come with the final guidelines and site criteria for Thermal Power Plants urgently.
The tribunal was hearing petitions filed by 6 locals against the 2640 MW thermal power plant of Nagarajuna Construction Company. The petitioners had alleged that the land allotted for the thermal power plant is not suitable for the commercial use. They argued that the proposed plant will adversely affect the ecological system of the vicinity.
The tribunal in its findings mentioned that the existing guidelines to set up a thermal power plant don’t take notes of the factors that affect the environment and ecology today. The tribunal also quashed environment clearance to the 1200 MW thermal power plant in the Cuddalore district of Tamil Nadu.

Annual Conference on Disaster Management

Annual Conference of Relief Commissioners/ Secretaries, Department of Disaster Management of States/ UTs will be held on 28th May, 2012 in New Delhi to review the status of preparedness for dealing with crisis situations resulting from the South-west Monsoon, 2012 and to discuss other disaster management related issues. Representatives of concerned Central Ministries/ Organizations rendering Emergency Support Functions will also participate besides representatives of Central Armed Police Forces.

The Conference will be inaugurated by Shri R.K. Singh, Union Home Secretary and will be presided over by Shri A.E. Ahmad, Secretary (Border Management), Ministry of Home Affairs.

India Meteorological Department, Central Water Commission, Ministry of Defence, National Disaster Management Authority, Indian National Centre for Ocean Information Services, National Disaster Response Force, Snow and Avalanche Studies Establishment and Indian Space Research Organization will also participate in the conference. The role of these organizations in preparedness and further enhancement of their capabilities to deal with the disasters will be discussed. The various issues related to disaster preparedness and other disaster management relating to the States/UTs will be reviewed/discussed.

Sustaining the Environment

On completing three years in office the UPA Government recently released a ‘Report To The People’. The following achievements pertain to the Ministry of Environment & Forest and in the field of sustaining the environment.

National Action Plan on Climate Change
The National Action Plan advocates a strategy that promotes, firstly, the adaptation to climate change and secondly, further enhancement of the ecological sustainability of India’s development path. The eight missions under the PM’s Council on Climate Change are the Jawaharlal Nehru National Solar Mission, the National Water Mission, the National Missions on Enhanced Energy Efficiency, Sustainable Habitat, and Strategic Knowledge for Climate Change, and the National Missions for Sustaining the Himalayan Ecosystem, a Green India and Sustainable Agriculture.

Forest Conservation
An amount of Rs. 848 crore was released to State Level Compensatory Afforestation Fund Management & Planning Authorities to carry out protection, conservation and regeneration of natural forests in addition to compensatory afforestation. National Green Tribunal

The National Green Tribunal (NGT) was established in October, 2010 for effective and expeditious disposal of cases relating to environmental protection and conservation of forests and other natural resources including enforcement of any legal right relating to environment and giving relief and compensation for damages to persons and property. Delhi, Bhopal, Pune, Kolkata and Chennai are the five place of sitting of the NGT.

Mission Clean Ganga
Projects worth nearly Rs. 2,600 crore have been sanctioned by the National Ganga River Basin Authority (NGRBA). These include projects for development of sewer networks, sewage treatment plants and sewage pumping stations, electric crematoria, community toilets and development of river fronts.

Several innovations have been introduced for improved implementation of projects sanctioned by the NGRBA. These include Tripartite Memoranda of Agreements, project appraisal by independent institutions, Third Party Inspection, etc. State River Conservation Authorities have been constituted in the five Ganga basin States to facilitate better coordination and implementation of conservation activities at the State level.

The Central Government has secured World Bank assistance of US$ 1 billion for the NGRBA Programme. The World Bank project will support NGRBA’s immediate objective of Mission Clean Ganga.

Tiger Conservation
A detailed report on the country level status of tigers, co-predators and prey in India was released in July, 2011. This was the second round of country level snapshot assessment. The earlier estimation made in 2006 indicated that there were 1411 tigers in the country; the current estimates show that this number has increased by about 20% to 1706.

National Conference on Livlihoods for Persons with Disabilities

KM Acharya, Secretary Ministry of Social Justice and Empowerment has reiterated that much progress can be achieved in disability sector if Government and Private organisation work together. Shri Acharya was inaugurating National Conference on Livelihoods for Persons with Disabilities organized by the Office of the Chief Commissioner of Persons Disabilities (CCPD), Ministry of Social Justice and Empowerment and other partner organisation here today. Keeping in view the issues of people with disabilty Shri Acharya said a separate department for Person with Disability has already been formed on 14 May, 2012 which would be headed by Secretary-rank officer and will work along with the department of social justice under the Ministry.

The Union Minister of Social Justice and Empowerment Shri Mukul Wasnik whose address to the conference was read in-absentia,stressed upon the need for providing education and training to the disable people. "As per NSSO surveys 2002, only a small percentage of persons with disabilities were employed and had studied higher secondary or above. This shows that there is a huge task of providing appropriate education and training to Persons with Disabilities to make them employable," he said. Observing that effective inclusion of disabled people in the present work force is a pre-requisite of inclusive growth in the country, he said, "This will require very effective and coordinated efforts and convergence among various stakeholders in the Government, corporate and civil society,”.

Wasnik expressed confidence that all the stakeholders in this area would come up with new innovative ideas for generating livelihood options for disabled people. On amendments in the Disabilities Act as per United Nation Convention, he said, "In view of developments over last one and half decade and the approach of UN Convention on the Rights of Persons with Disabilities, government has decided to draft a new legislation for empowerment of Persons with Disability in harmony with the UN Convention."

Chief Commissioner for Persons with Disabilities Shri P.K Pincha while addressing the gathering emphasised on the need for exploring inherent and hidden potential of people with disability. He also stressed upon recognising their abilities and running massive training campaigns and sessions to make them more skilled.

On this occasion a web portal Jobability was also launched to generate awareness on available employment opportunities of disabled people and support candidates to build links with local employers and community stake holders in order to access training and opportunity for wage and self employment. The portal will also have online training programme to enhance their skill further.

As per the 2001 Census, there were 21.90 million Persons with Disability in the country which is 2.1 per cent of the total population. While 74.80 per cent of these people are located in rural areas, rest 25.20 per cent live in urban and semi-urban locations. Literacy rate of disabled people was estimated at 49.31 per cent and only 34.54 per cent were engaged in some kind of employment.

90% rural households will have tapped water system by 2022

The Government  said that 90 percent of all rural households in the country will be covered by tapped water system by 2022, as the focus now is shifted from the hand pump approach to the surface water supply system. Briefing the media after a two-day Conference of State Ministers in charge of Rural Drinking Water Supply and Sanitation, Rural Development Minister Shri Jairam Ramesh said here that at present only 35 percent households in rural India has piped water system. He informed that while Tamil Nadu and Himachal Pradesh have more than 80 percent rural areas covered by tapped water supply, in Uttar Pradesh and Bihar less than 10 percent areas are under the piped water scheme, as the focus in these North Indian States are more on hand pumps. Shri Ramesh said, due to absence of electricity in rural and extremely backward areas, some States have demanded solar-energy based drinking water system. He said that the Centre has already approved installation of solar-based water system in 10,000 villages of 78 naxal-affected districts with an outlay of 540 crore rupees and the project will be completed in 18 months. The Rural Development Ministry has sought 230 crore rupees as grant from the Finance Ministry for this project. The Minister said that naxal-affected Gadchiroli district in Maharashtra has already 200 solar-water systems. He said, form 12th Five Year Plan every person in rural India will get 55 litres of water per day as against the current entitlement of 40 litres and the same is 135 litres per person per day in Urban Areas, which the Minister described as biased in nature. Shri Ramesh said that from the 12th Plan, State Governments can spend up to 62 percent of the funds on improving the water quality, which is at present only 11 percent. He said, 60 districts have been selected including 20 in Uttar Pradesh to deal with the problems of water borne diseases like Japanese encephalitis and the diseases caused due to excessive arsenic, iron and fluoride in drinking water in the States like West Bengal, Rajasthan, Bihar, Jharkhand, Assam and Karnataka.On the Sanitation Issue, the Minister said that Total Sanitation Campaign will be changed to Nirmal Bharat Abhiyan and Rs.9,500 will be allocated for the toilet construction in the Gram Panchayats, nearly double the amount currently spent on individual latrines.

India and Netherlands sign Protocol Amending DTAC

The Convention between the Kingdom of Netherlands and the Republic of India for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income and on capital was signed on 30th July, 1988 (DTAC). Both India and Netherlands have concluded a Protocol to amend the Article 26 of the DTAC concerning Exchange of Information to bring it in line with the international standards.

On 10th May, 2012, India and Netherlands have signed the Protocol at The Hague, Netherlands. The protocol was signed by Ms. Bhaswati Mukherjee, Ambassador of India to The Netherlands and Mr. F.H.H.Weekers, state Secretary of Finance, Netherlands. The Protocol will replace the Article concerning Exchange of Information in the existing DTAC between India and Netherlands and will allow exchange of banking information as well as information without domestic interest. It will, now, allow use of information for non-tax purpose if allowed under the domestic laws of both the countries, after the approval of the supplying state.

PM chairs meeting to discuss recommendations of the Committee on Allocation of Natural Resources

The Prime Minister on May 25 convened a meeting of Ministers and Senior Officials to examine the Report of the Committee on Allocation of Natural Resources, commonly known as the Ashok Chawla Committee. The meeting was attended by the Finance Minister, Deputy Chairman Planning Commission and the Ministers of Petroleum and Natural Gas, Urban Development, Human Resource Development, Water Resources and Coal and the MoS of Environment and Forests. The Principal Secretary and Secretaries of all the concerned Departments attended the Meeting. The Secretary, Department of Economic Affairs made a presentation on recommendations of the Committee.

The Committee on Allocation of Natural Resources was constituted to examine the approach to allocating natural resources such as land, coal, minerals, petroleum, natural gas, etc. The purpose was to obtain recommendations which would enhance transparency, effectiveness and sustainability in the allocation, pricing and utilization of natural resources through open, transparent and competitive mechanisms and to suggest changes in the legal, institutional and regulatory framework to implement the recommendations.

The recommendations of the Committee had been examined by the Group of Ministers on corruption headed by the Finance Minister and the GoM had accepted 69 of the 81 recommendations. 11 recommendations were to be examined further.

At the end of the meeting it was decided that all the 69 agreed recommendations would be pursued for implementation by individual Ministries in a timely manner. Detailed timelines will be finalized.

BANK EXAMS GENERAL AWARENESS QUESTIONS

1) The Reserve Bank of India(RBI) in March 2012 hiked bank rate for Primary cooperative banks to

1) 10.5 percent

2) 9.5 percent

3) 5.5 percent

4) 8 percent

5) 7 percent

Ans. 9.5 percent

2) Which Indian City in March 2012 became the first one to provide guaranteed land titles by distributing property cards?

1) Hyderabad

2) Mysore

3) Mangalore

4) Ahmedabad

5) Chandigarh

Ans. Mysore

3) IT Company HCL technologies Ltd. in March 2012 signed a five year information technology outsourcing deal worth ------- with finnish recyclable product maker UPM.

1) $ 50 million

2) $ 100 million

3) $ 150 million

4) $ 250 million

5) $ 300 million

Ans. $ 300 million

4) The department of information technology in March 2012 has been renamed as ----

1) Department of electronics

2) Department of IT

3) Department of Electronics and IT.

4) All of the above

5) None of these

Ans.  Department of Electronics and IT

5) India in March 2012 banned --------- exports to ensure supplies for domestic industry.

1) Cotton

2) Sugarcane

3) Jute

4) Coffee

5) Tea

Ans. Cotton

6) Delhi government in March 2012 raised the price of compressed natural gas (CNG) by --- per Kg.

1) Rs 1

2) Rs 1.45

3) Rs 1.60

4) Rs 1.90

5) Rs 2.10

Ans. Rs 1.90

7) India in March 2012 announced ------ aid for skill development and education for the Afro-Asian Rural development organization (AARDO).

1) $ 100000

2) $ 150000

3) $ 200000

4) $ 250000

5) $ 300000

Ans. $ 200000

8) Thailand based dry bulk cargo specialist precious shipping public Co. Ltd. in March 2012 purchased three small dry cargo carrying ships owned by chennai based goodearth maritime for-------

1) $ 40 million

2) $ 49 million

3) $ 51 million

4) $ 56 million

5) $ 60 million

Ans. $ 51 million

9) India in March 2012 reduced the Railway  charges on Iron ore meant for exports by ---------

1) 4 percent

2) 8 percent

3) 12 percent

4) 16 percent

5) 20 percent

Ans. 16 percent

10) Morgan stanley in March 2012 invested about -------- in a project of Sheth Developers Pvt. Ltd. primarily to help the real estate firm refinance debt. It had taken to buy land in Mumbai.

1) $ 40 million

2) $ 50 million

3) $ 60 million

4) $ 80 million

5) $ 90 million

Ans. $ 90 million

11) Reliance Industry Ltd. in March 2012 increased its stake in Hospitality Firm EIH Ltd. to 18.53 percent by investing-----

1) Rs 100 Crore

2) Rs 124 Crore

3) Rs 171 Crore

4) Rs 192 Crore

5) Rs 216 Crore

Ans. Rs 192 Crore

12) Which drug maker in March 2012 received demand notices for Rs 424.64 Crore from the National Pharmaceutical Pricing Authority towards interest for alleged drug overpricing?

1) Cipla Ltd.

2) Ranbaxy

3) Dr. Reddy’s

4) Madikare

5) All of these

Ans. Cipla Ltd.

13) The Reserve bank of India in March 2012 bought --------- of government bonds through an open market operation.

1) Rs 5000 Crore

2) Rs 7198 Crore

3) Rs 9125 Crore

4) Rs 10776 Crore

5) Rs 11000 Crore

Ans. Rs 10776 Crore

14) India in March 2012 refused ton Provide its sovereign guarantee for oil imports from ----------

1) Syria

2) Afghanistan

3) Iran

4) Iraq

5) Saudi Arab

Ans.  Syria

15) In Budget 2012-13 , the government raised excise and service tax rates by 2 percent age points to ---- in order to shore up falling revenues.

1) 6 Percent

2) 8 Percent

3) 10 Percent

4) 12 Percent

5) 14 Percent

Ans. 12 Percent

16) Budget 2012-13  raised the basic customs duty on large vehicles from 60 percent to -------

1) 65 Percent

2) 68 Percent

3) 70 Percent

4) 72 Percent

5) 75 Percent

Ans. 70 Percent

17) In Budget 2012-13, expemption limit of income tax is raised to

1) Rs 1 Lakh

2) Rs 1.5 Lakh

3) Rs  2 Lakh

4) Rs 2.5 lakh

5) Rs 3 lakh

Ans. Rs  2 Lakh

18) Budget 2012-13 reduced the securities transaction tax by

1) 6 Percent

2) 10 Percent

3) 15 Percent

4) 20 Percent

5) 25 Percent

Ans. 20 Percent

19) Finance Minister in his budget 2012-13 Proposed to raise the target for agriculture loans in Fiscal 2013 to -----

1) Rs 4 trillion

2) Rs 4.8 trillion

3) Rs 5.3 trillion

4) Rs 5.75 trillion

5) Rs  6.2 trillion

Ans. Rs 5.75 trillion

20) Budget 2012-13 increased the Plan outlay for --------- by 18 Percent to Rs 20,208 Crore and announced a series of measures

1) Agriculture

2) Industry

3) Jute Sector

4) Non-organised Sector

5) All of these

Ans. Agriculture

21) In 2010-11 the share of agriculture in India’s gross domestic product was-----

1) 45 Percent

2) 39 Percent

3) 30 Percent

4) 21 Percent

5) 14.5 Percent

Ans. 14.5 Percent

22) The Finance Minister in Budget 2012-13 proposed to provide ---------- for capitalization of public sector, regional rural banks and Nabard

1) Rs 10000 Crore

2) Rs 12400 Crore

3) RS 14105 Crore

4) Rs 15888 Crore

5) Rs 17100 Crore

Ans. Rs 15888 Crore

23) Budget 2012-13 increased the plan outlay for Rural drinking water and sanitation by

1) 20 Percent

2) 23 Percent

3) 27 Percent

4) 31 Percent

5) 36 Percent

Ans. 27 Percent

24) Budget 2012-13 Proposed to upgrade -------- Medical colleges for the urban poor.

1) 15

2) 11

3) 8

4) 7

5) 3

Ans. 7

25) Which among the following is not a feature of Budget 2012-13 for the aviation sector?

1) Airlines be allowed to raise working capital through ECB’s

2) Exemption on Basis customs duty on spare parts

3) Air India Ltd. sees on infusion of Rs 4000 Crore

4) All of these

5) None of these

Ans. None of these