Insights Daily Current Events, 03 April 2015 _ INSIGHTS

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<ul><li><p>insightsonindia.com http://www.insightsonindia.com/2015/04/03/insightsdailycurrentevents03april2015/</p><p>ByINSIGHTS</p><p>INSIGHTSSimplifyingUPSCIASExamPreparation</p><p>InsightsDailyCurrentEvents,03April2015</p><p>InsightsDailyCurrentEvents,03April2015</p><p>Indirecttaxcollectionexceedstarget</p><p>TheindirecttaxescollectionhassurpassedtherevisedestimatesbyRs.4,000croretoreachRs.5.46lakhcroreforthefiscalendedMarch2015,despiteaslowdowninthemanufacturingsector.</p><p>ThetotalcollectionasonMarch31isRs.5,46,479crore,basedontheprovisionalreportagainstrevisedestimatesofRs.5,42,325crorefor201415.</p><p>IndirectTaxes:</p><p>Indirecttaxisataxcollectedbyanintermediary(suchasaretailstore)fromthepersonwhobearstheultimateeconomicburdenofthetax(suchastheconsumer).Theintermediarylaterfilesataxreturnandforwardsthetaxproceedstogovernmentwiththereturn.Inthissense,thetermindirecttaxiscontrastedwithadirecttaxwhichiscollecteddirectlybygovernmentfromthepersons(legalornatural)onwhichitisimposed.</p><p>SomeofthesignificantindirecttaxesincludeValueAddedTax,CentralSalesTax,CentralExciseDuty,CustomsDuty,stampduties,Goodsandservicestax(GST)andexpendituretax.</p><p>Sources:TheHindu,Wiki.</p><p>RajasthanbringsBillagainstwitchcraft</p><p>TheRajasthanstategovernmentrecentlytabledPreventionofWitchHuntingBillintheAssembly.</p><p>DetailsoftheBill:</p><p>TheBillprovidesforlifeimprisonmentifwitchhuntingcausesdeath,andimprisonmentuptofiveyearsandafineforpractisingwitchhunting,witchcraftandsoon.Atleast60%ofthefinewillgotothevictimforhertreatmentandrehabilitation.</p><p>TheBillproposestoimposeacollectivefineontheinhabitantsofaplacewhoabetthecrime,harbourpersonscommittingit,suppressevidenceorfailtorenderallassistanceintheirpowerstodiscoverorapprehendtheoffenders.Thefineshallbespentontherehabilitationandresettlementofthevictim.</p><p>TheBillprohibitsanyactsderogatorytohumandignitysuchasforcingawomantodrinkoreatanyinedibleorobnoxioussubstanceorparadinghernakedorinscantyclothesorwithpaintedfaceorbody.Displacingherfromherhouseandotherpropertywillbeapunishableoffence.Atpresent,thereisnopenalprovisioninthelawtoprohibitorpunishthoseaccusedofwitchhuntingandsuchpracticesintheState.</p><p>TheStategovernmenthasproposedtorolloutoneormoreschemesfortherehabilitationandresettlementofthevictimandtoconductawarenessprogrammesonsuperstitionsandsuchpractices.</p></li><li><p>Glossary:</p><p>WhoisaWitch,accordingtotheBill?</p><p>IntheBill,thetermwitchisdescribedasawoman,locallyknownasDayan,DakanorDakin,whohasbeenidentifiedbyanypersonorpersonsbelievinghertobeinpossessionof,orashaving,anyevilpowerforcausinganyharmtoanypersonorproperty.</p><p>WhatisWitchcraft?</p><p>WitchcrafthasbeendescribedintheBillasuseofsupernaturalormagicalpowerswithevilintentiontocallupaspiritorcastaspellordiscoverstolengoods.</p><p>ItincludessuchotherpracticeswhichareknownasTonaTotaka,TantraMantra,JaduTonaandJhadPhunk.</p><p>WhoisaWitchDoctor?</p><p>WitchdoctormeansapersonwhoislocallyknownasGunia,Tantrikorotherwiseandclaimsthathehassupernaturalormagicalpowertocontrolorcureawitchorperformsanyritualpurportedlytofreeawomanfromevilspirit.</p><p>WhatisWitchHunting?</p><p>Witchhuntingmeansanyactorconductonthepartofanyperson,identifying,accusingordefamingawomanasawitchorharassing,harmingorinjuringsuchwomanwhethermentallyorphysicallyorbydamagingherproperty.</p><p>Sources:TheHindu.</p><p>Nabardexpects50%creditgrowthinAP,Telangana</p><p>TheNationalBankforAgricultureandRuralDevelopment(Nabard)expectsa50%growthincreditdisbursalstoAndhraPradeshandTelanganatoRs21,000croreduringfiscal201516.</p><p>Thebankalsohasformedregionaladvisorygroups(thinktanks)andtechnicalgroupsforboththestatestoassistinadvancingthelendingmechanisms.Itisalsotakingupaselfhelpgroup(SHG)digitisationdrive,withthepilottobetakenupinMedakdistrictinTelanganathisyear.</p><p>Nabard:</p><p>Itisanapexdevelopmentandspecializedbankestablishedon12July1982byanactbytheparliamentofIndia.ItsmainfocusistoupliftruralIndiabyincreasingthecreditflowforelevationofagriculture&amp;ruralnonfarmsector.</p><p>ItwasestablishedbasedontherecommendationsoftheCommitteesetupbytheReserveBankofIndia(RBI)underthechairmanshipofShriB.shivaraman.</p><p>ItreplacedtheAgriculturalCreditDepartment(ACD)andRuralPlanningandCreditCell(RPCC)ofReserveBankofIndia,andAgriculturalRefinanceandDevelopmentCorporation(ARDC).</p><p>Ithasbeenaccreditedwithmattersconcerningpolicy,planningandoperationsinthefieldofcreditforagricultureandothereconomicactivitiesinruralareasinIndia.</p><p>NABARDisactiveindevelopingfinancialinclusionpolicyandisamemberoftheAllianceforFinancialInclusion.</p><p>Itsroleandfunctions:</p><p>Itlooksafterthedevelopmentofthecottageindustry,smallindustryandvillageindustry,andotherruralindustries.</p><p>TheBankhasbeengivencertainrolesasfollows:</p></li><li><p>ItServesasanapexfinancingagencyfortheinstitutionsprovidinginvestmentandproductioncreditforpromotingthevariousdevelopmentalactivitiesinruralareas</p><p>Ittakesmeasurestowardsinstitutionbuildingforimprovingabsorptivecapacityofthecreditdeliverysystem,includingmonitoring,formulationofrehabilitationschemes,restructuringofcreditinstitutions,trainingofpersonnel,etc.</p><p>CoordinatestheruralfinancingactivitiesofallinstitutionsengagedindevelopmentalworkatthefieldlevelandmaintainsliaisonwithGovernmentofIndia,StateGovernments,ReserveBankofIndia(RBI)andothernationallevelinstitutionsconcernedwithpolicyformulation</p><p>ItUndertakesmonitoringandevaluationofprojectsrefinancedbyit.</p><p>NABARDrefinancesthefinancialinstitutionswhichfinancestheruralsector.</p><p>Itregulatestheinstitutionwhichprovidesfinancialhelptotheruraleconomy.</p><p>Itprovidestrainingfacilitiestotheinstitutionsworkingthefieldofruralupliftment.</p><p>ItregulatesthecooperativebanksandtheRRBs,andmanagestalentacquisitionthroughIBPSCWE.</p><p>NABARDisalsoknownforitsSHGBankLinkageProgrammewhichencouragesIndiasbankstolendtoSHGs.</p><p>Sources:TheHindu,Wiki,NABARD.</p><p>Sebiforincludingfamilytrusts,NBFCsinQIBsegment</p><p>TheSecuritiesandExchangeBoardofIndia(Sebi)hasproposedincludingsystematicallyimportantnonbankfinancialcompanies(NBFCs)andsomeregisteredfamilytrustsinthequalifiedinstitutionalbuyers(QIB)category.Further,theregulatorhassuggestedanyotherentityregisteredwithSebiandhavingaminimumnetworthofRs500croremayalsobeconsideredaQIB.</p><p>Impact:</p><p>Themovewillputsuchentitiesataparwithinstitutionalinvestorslikebanksandmutualfunds(MFs).</p><p>Whoarequalifiedinstitutionalbuyers?</p><p>Currently,QIBsaredefinedunderSebiregulationsasinstitutionalinvestorsgenerallyperceivedtopossessexpertiseandthefinancialmuscletoevaluateandinvestincapitalmarkets.</p><p>TheexistingQIBsincludepublicfinancialinstitutionslikescheduledcommercialbanks,MFs,foreigninstitutionalinvestorandventurecapitalfunds.</p><p>SEBITheSecuritiesandExchangeBoardofIndia(SEBI)istheregulatorforthesecuritiesmarketinIndia.Itwasestablishedintheyear1988andgivenstatutorypowerson12April1992throughtheSEBIAct,1992.</p><p>Composition:</p><p>SEBIiscomposedof</p><p>ThechairmanwhoisnominatedbyUnionGovernmentofIndia.</p><p>Twomembers,i.e.,OfficersfromUnionFinanceMinistry.</p><p>OnememberfromtheReserveBankofIndia.</p><p>TheremainingfivemembersarenominatedbyUnionGovernmentofIndia,outofthematleastthreeshallbewholetimemembers.</p><p>Forthedischargeofitsfunctionsefficiently,SEBIhasbeenvestedwiththefollowingpowers:</p></li><li><p>Toapprovebylawsofstockexchanges.</p><p>Torequirethestockexchangetoamendtheirbylaws.</p><p>Inspectthebooksofaccountsandcallforperiodicalreturnsfromrecognizedstockexchanges.</p><p>Inspectthebooksofaccountsoffinancialintermediaries.</p><p>Compelcertaincompaniestolisttheirsharesinoneormorestockexchanges.</p><p>Registrationofbrokers.</p><p>Sources:TheHindu,Wiki.</p><p>Indiaranks119onGlobalBusinessResilienceIndex</p><p>Indiaranked119thamong130countriesonanindexmeasuringbusinessresilienceofnationsbasedoneconomic,riskqualityandsupplychainfactors,droppedsevennotchesfromlastyear.</p><p>Detailsofthe2015FMGlobalResilienceIndex:</p><p>TheIndexhasbeentoppedbyNorwayforbeingthecountrybestsuitedforcompaniesseekingtoavoiddisruptionsintheirglobalsupplychainoperations.Venezuelaisrankedlastonthelist.</p><p>Ontheeconomicparameter,whichtakesintoaccountgrossdomesticproduct,politicalriskandoilintensity,Indiaisranked115th,thesameaslastyear.</p><p>Intheriskqualityfactor,itranked109thforitsqualityofnaturalhazardandfireriskmanagement,aslightimprovementfromits113thrankin2014.</p><p>Inthethirdcategoryofsupplychain,whichlooksatcorruptioncontrol,infrastructureandlocalsupplierquality,Indiaisranked89th,falling11spotsfromthepreviousyear.</p><p>Amongthetop10countriesthataremostresilient,NorwayisfollowedbySwitzerland(2),Netherlands(3),Ireland(4),Luxembourg(5),Germany(6),Qatar(7),Canada(8),Finland(9)andtheUS(10).Atthe123rdspot,Pakistanisinthebottom10countriesontheindex.</p><p>TheotherleastresilientnationstobusinesssupplychaindisruptionareDominicanRepublic(126),Nicaragua(127)andKyrgyzRepublic(129).</p><p>Thereportalsosaysthat:</p><p>Economically,Indiasuffersfromaformidabletangleofproblems.AthirdofitspopulationstillliveinextremepovertyoneofthehighestincidencesoutsidesubSaharanAfrica.TheimplementationofeconomicreformshasbeenidentifiedasaprioritybyIndiasnewgovernment.Theexceptionisthecountrysrelativelylowexposuretonaturalhazards,whichsuggeststhatIndiasdestiny,toanencouragingextent,liesinitsownhands.</p><p>Theindexprovidesanannualrankingof130countriesandterritoriesaccordingtotheirbusinessresiliencetosupplychaindisruption.</p><p>Sources:BS.</p><p>InsightsSecurePrelims2015Timelimit:0</p><p>Quizsummary</p><p>0of4questionscompleted</p><p>Questions:</p></li><li><p>1. 1</p><p>2. 2</p><p>3. 3</p><p>4. 4</p><p>Information</p><p>WelcometoInsightsSecurePrelims2015initiative.ThefollowingquestionsarebasedoncurrenteventsthatappearinPIB(PublicInformationBureau)andfromsomeimportantnewspapers.Formorechallengingquestionpapers(FullLength),pleasejoinourPreliminaryExam2015TestSeries(PleaseClickHereforReviews)</p><p>ToviewSolutions,followtheseinstructions:</p><p>1. ClickonStartQuizbutton</p><p>2. SolveQuestions</p><p>3. ClickonQuizSummarybutton</p><p>4. ClickonFinishQuizbutton</p><p>5. NowclickonViewQuestionsbuttonhereyouwillseesolutionsandlinks.</p><p>Youhavealreadycompletedthequizbefore.Henceyoucannotstartitagain.</p><p>Quizisloading...</p><p>Youmustsigninorsignuptostartthequiz.</p><p>Youhavetofinishfollowingquiz,tostartthisquiz:</p><p>Results</p><p>0of4questionsansweredcorrectly</p><p>Yourtime:</p><p>Timehaselapsed</p><p>Youhavereached0of0points,(0)</p><p>Categories</p><p>1. Notcategorized0%</p><p>YourresulthasbeenenteredintoleaderboardLoading</p><p>maximumof8points</p><p>Pos. Name Enteredon Points Result</p><p>Tableisloading</p><p>Nodataavailable</p><p>1 Bashir 2015/04/0311:51PM 8 100%</p></li><li><p>2 annu 2015/04/0311:54PM 8 100%</p><p>3 tejharman 2015/04/0311:57PM 8 100%</p><p>4 Siddu 2015/04/0311:59PM 8 100%</p><p>5 PRATIK 2015/04/0412:07AM 8 100%</p><p>6 dineshkumar 2015/04/0412:08AM 8 100%</p><p>7 AditiPurohit 2015/04/0412:14AM 8 100%</p><p>8 poorani 2015/04/0412:21AM 8 100%</p><p>9 cxc 2015/04/0612:45AM 8 100%</p><p>10 swati 2015/04/0412:37AM 8 100%</p><p>11 Demos 2015/04/066:27AM 8 100%</p><p>12 sajan 2015/04/0412:56AM 8 100%</p><p>13 AamirKhan 2015/04/0412:57AM 8 100%</p><p>14 SaurabhBiyani 2015/04/0412:57AM 8 100%</p><p>15 AzharShaikh 2015/04/041:56AM 8 100%</p><p>16 UmeshKumar 2015/04/047:44AM 8 100%</p><p>17 PalashGupta 2015/04/047:49AM 8 100%</p><p>18 Insighter 2015/04/048:47AM 8 100%</p><p>19 raman 2015/04/048:53AM 8 100%</p><p>20 IM 2015/04/0611:06AM 8 100%</p><p>21 SKNAYAK 2015/04/0611:33AM 8 100%</p><p>22 prabhatsingh 2015/04/049:44AM 8 100%</p><p>23 shivpreet 2015/04/049:47AM 8 100%</p><p>24 vc 2015/04/0611:43AM 8 100%</p><p>25 neena 2015/04/0410:10AM 8 100%</p><p>26 LeoJohny 2015/04/0410:31AM 8 100%</p><p>27 Chirag 2015/04/0612:05PM 8 100%</p><p>28 anilparihar 2015/04/0411:31AM 8 100%</p><p>29 devika 2015/04/0411:44AM 8 100%</p><p>30 Prashant 2015/04/0412:07PM 8 100%</p><p>31 lucky 2015/04/0412:27PM 8 100%</p><p>32 RakeshKumar 2015/04/0412:50PM 8 100%</p></li><li><p>33 abhishek 2015/04/0412:52PM 8 100%</p><p>34 zualisailo 2015/04/041:10PM 8 100%</p><p>35 devesh 2015/04/041:33PM 8 100%</p><p>36 nidhi.niharika 2015/04/041:48PM 8 100%</p><p>37 gargisagar 2015/04/042:48PM 8 100%</p><p>38 Mayuresh 2015/04/042:53PM 8 100%</p><p>39 SaumyaGupta 2015/04/043:07PM 8 100%</p><p>40 priya 2015/04/043:58PM 8 100%</p><p>41 SyamMohan 2015/04/044:17PM 8 100%</p><p>42 Sid 2015/04/045:09PM 8 100%</p><p>43 kausik 2015/04/045:40PM 8 100%</p><p>44 VNR 2015/04/045:55PM 8 100%</p><p>45 sarla 2015/04/046:12PM 8 100%</p><p>46 ANWAR 2015/04/046:18PM 8 100%</p><p>47 manish 2015/04/046:28PM 8 100%</p><p>48 sfhxf 2015/04/047:36PM 8 100%</p><p>49 DC 2015/04/048:00PM 8 100%</p><p>50 sagar 2015/04/048:15PM 8 100%</p><p>51 yogitha 2015/04/0410:37PM 8 100%</p><p>52 Ashuto 2015/04/0512:10AM 8 100%</p><p>53 inderjit 2015/04/0512:37AM 8 100%</p><p>54 RadheShyam 2015/04/068:27PM 8 100%</p><p>55 albus 2015/04/053:39AM 8 100%</p><p>56 Mahendra 2015/04/069:45PM 8 100%</p><p>57 rishukrsingh 2015/04/0510:07AM 8 100%</p><p>58 GShankar 2015/04/0510:13AM 8 100%</p><p>59 geogigeorge 2015/04/0610:28PM 8 100%</p><p>60 Janani 2015/04/039:13PM 8 100%</p><p>61 Mayankkumar 2015/04/039:23PM 8 100%</p><p>62 k.t.naidu 2015/04/039:27PM 8 100%</p><p>63 khushii 2015/04/039:30PM 8 100%</p></li><li><p>64 zaid 2015/04/039:32PM 8 100%</p><p>65 SABIR 2015/04/0512:32PM 8 100%</p><p>66 vikasverma 2015/04/039:33PM 8 100%</p><p>67 Ajinkya 2015/04/039:41PM 8 100%</p><p>68 murari 2015/04/039:42PM 8 100%</p><p>69 simar 2015/04/039:44PM 8 100%</p><p>70 vibhu 2015/04/039:49PM 8 100%</p><p>71 Dilipkumar 2015/04/039:50PM 8 100%</p><p>72 naveen 2015/04/039:55PM 8 100%</p><p>73 YashAgrawal 2015/04/052:27PM 8 100%</p><p>74 RajuGogula 2015/04/0310:03PM 8 100%</p><p>75 arihant 2015/04/0310:04PM 8 100%</p><p>76 dhara 2015/04/0310:22PM 8 100%</p><p>77 sonu 2015/04/0310:27PM 8 100%</p><p>78 ABHISHEKCRAJ 2015/04/0310:34PM 8 100%</p><p>79 felix 2015/04/0310:40PM 8 100%</p><p>80 balamurugank 2015/04/056:12PM 8 100%</p><p>81 Moni 2015/04/0310:47PM 8 100%</p><p>82 kaddu 2015/04/0311:01PM 8 100%</p><p>83 crazyforips 2015/04/0311:06PM 8 100%</p><p>84 anK 2015/04/057:42PM 8 100%</p><p>85 harendra 2015/04/0311:08PM 8 100%</p><p>86 psychelectron 2015/04/0311:09PM 8 100%</p><p>87 At 2015/04/0311:28PM 8 100%</p><p>88 sky 2015/04/0311:37PM 8 100%</p><p>89 Sunny 2015/04/0311:46PM 8 100%</p><p>90 RaviM 2015/04/0511:22PM 6 75%</p><p>91 AshutoshAditya 2015/04/0311:55PM 6 75%</p><p>92 jaskiran 2015/04/0311:56PM 6 75%</p><p>93 fff 2015/04/0511:40PM 6 75%</p><p>94 AP 2015/04/0412:00AM 6 75%</p></li><li><p>95 nikitha 2015/04/0412:36AM 6 75%</p><p>96 rockey 2015/04/0412:40AM 6 75%</p><p>97 SAHIL 2015/04/061:39AM 6 75%</p><p>98 ashwinikrverm 2015/04/0412:44AM 6 75%</p><p>99 mblaze 2015/04/067:51AM 6 75%</p><p>100 Nagamani 2015/04/0412:58AM 6 75%</p><p>1. 1</p><p>2. 2</p><p>3. 3</p><p>4. 4</p><p>1. Answered</p><p>2. Review</p><p>1. Question1of4</p><p>1.Question</p><p>Considerthefollowingstatementswithreferencetothe2015FMGlobalResilienceIndex:</p><p>1. TheIndexhasbeentoppedbyNorway.</p><p>2. Ontheeconomicparameter,whichtakesintoaccountgrossdomesticproduct,politicalriskandoilintensity,Indiaisranked115th,thesameaslastyear.</p><p>3. Intheriskqualityfactor,Indiaisranked109thforitsqualityofnaturalhazardandfireriskmanagement.</p><p>Whichoftheabovestatementsis/aretrue?</p><p>Correct</p><p>Answer:d</p><p>Incorrect</p><p>Answer:d</p><p>2. Question2of4</p><p>2.Question</p><p>ConsiderthefollowingstatementswithreferencetotheSecuritiesandExchangeBoardofIndia(SEBI):</p><p>1. Itwasgivenstatutorypowersin1992throughtheSEBIAct,1992.</p><p>2. ThechairmanoftheboardisnominatedbyUnionGovernmentofIndia.</p><p>Whichoftheabovestatementsis/aretrue?</p><p>Correct</p></li><li><p>Answer:c</p><p>Incorrect</p><p>Answer:c</p><p>3. Question3of4</p><p>3.Question</p><p>Whichofthefollowingareindirecttaxes?</p><p>1. CentralSalesTax.</p><p>2. CentralExciseDuty.</p><p>3. CustomsDuty.</p><p>4. Stampduties.</p><p>5. Goodsandservicestax(GST).</p><p>Choosethecorrectanswerusingthecodesbelow:</p><p>Correct</p><p>Answer:d</p><p>Incorrect</p><p>Answer:d</p><p>4. Question4of4</p><p>4.Question</p><p>Whichofthefollowingarecorrectlymatched?</p><p>1. ArunachalPradesh:CorbettTigerReserve</p><p>2. Assam:NameriTigerReserve</p><p>3. Karnataka:BandipurTigerReserve</p><p>4. Uttarakhand:NamdaphaTigerReserve</p><p>Choosethecorrectanswerusingthecodesbelow:</p><p>Correct</p><p>Answer:b</p><p>Incorrect</p><p>Answer:b</p><p>INSIGHTS2015.AllRightsReserved.</p></li></ul>