General Awareness Objective Questions 3...........................

1. The Union government has decided to increase the number of work days under MGNREGA from 

100 days to ____________.

(1) 110 days (2) 125 days (3) 140 days (4) 150 days (5) 165 days

The Union Government on 17 June 2015 decided to increase the number of workdays under Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) from 100 days to 150 days in drought-affected areas of the country.

• MGNREGA launched in 2009 annually provides 100 days work to rural household of India. The cost 

of providing 50 more days of work to the rural households will be borne by the Union Government 

and it will be applicable to those households only that complete its 100 days work.

• Earlier in February 2014, previous government led by Prime Minister Manmohan Singh, the number 

of workdays under MNREGA was increased from 100 days to 150 days for tribal areas who have 

received land rights under the Forest Rights Act, 2006.

2. Union ministry in June 2015 forms two committees for facilitating the implementation of which 

tax?

(1) VAT (2) GST (3) Sales Tax (4) Income Tax (5) Wealth Tax

Union Ministry of Finance on 17 June 2015 formed two committees for facilitating implementation of Goods and Services Tax (GST) from 1 April 2016. These committees are intended to speed up the process of establishing necessary administrative infrastructure to implement the GST. GST will subsume present indirect taxes like excise, services tax, sales tax, octroi, etc. and is touted as the biggest tax reform since the Constitution of India came into force.

Terms of Reference of Committee on GST rate

• It will recommend possible tax rates under GST that would be consistent with the present level of 

revenue collection of the Union and States.

• It will be headed by the Chief Economic Advisor (CEA), Ministry of Finance. The present CEA is 

Arvind Subramanian.

• While making recommendations, it would take into account expected levels of growth of economy, 

different levels of compliance and broadening of tax base under GST.

• It would also analyse the Sector-wise and State-wise impact of GST on the economy.

3. The Union Cabinet in June 2015 approved the launch of ‘housing for all’ which aims to provide 

housing for all citizens till the year __________.

(1) 2018 (2) 2020 (3) 2021 (4) 2022 (5) 2024

The Union Cabinet, on 17 June 2015, approved the launch of housing for all by 2022 scheme. Under the scheme, Central assistance of Rs. 1- 2.3 lakh per beneficiary would be provided depending on the category defined. The scheme has four components rehabilitation of slum dwellers with participation of private developers using land as a resource; promotion of affordable housing for weaker section through credit linked subsidy; affordable housing in partnership with public and private sectors; subsidy for beneficiary-led individual house construction or enhancement.

Highlights of Housing for All by 2022 Scheme

• The income ceiling defining economically weaker section (EWS) has been revised from Rs. 1 lakh to 

Rs. 3 lakh per annum. The ceiling for low income group (LIG) has been hiked from Rs. 1-2 lakh 

earlier to Rs. 3-6 lakh now, bringing more people under the beneficiary bracket.

• Under the scheme, Central grant of Rs. 1 lath a house, op an average, will be available under the slum 

rehabilitation programme.

• Also, an interest subsidy of 6.5 per cent on housing loans availed up to tenure of 15 years will be 

provided to EWS/ LIG categories, wherein the subsidy pay-out on net present value basis would be 

about Rs. 2.3 lakh per house for both the categories.

• Central assistance at Rs. 1.5 lath per house for EWS category will be provided under the affordable 

housing in partnership with private and public sector, provided 35 per cent of dwelling units of the 

projects proposed are earmarked for EWS category. Under the previous policy, this assistance was 

Rs. 75,000 per house.

• The scheme will cover 4,041 statutory towns with initial focus on 500 Class-I cities. The mission will 

be implemented in three phases - 100 cities from April 2015 to March 2017; additional 200 cities 

between April 2017 and March 2019; and remaining cities from April 2019 to March 2022, with 

room for some flexibility.

4. Cabinet in June 2015 approves introduction of Bureau of Indian standards Bill, 2015. The main 

objectives of the proposed legislation are to establish the Bureau of Indian standards as the__

(1) Bureau of National Body (2) National Standard Body of India 

(3) Body of National Standard Exam (4) All Body Governors (5) All of these

The Union Cabinet chaired by Prime Minister Narendra Modi, on 17 June 2015, gave its approval to introduction of a new Bureau of Indian Standards Bill, 2015. The Bill will be introduced in the Parliament. The new Bill will provide legislative framework for following new provisions other than the provisions in the existing Bureau of Indian Standards Act, 1986 which is proposed to be repealed.

Highlights of Bureau of Indian Standards Bill, 2015

• The main objectives of the proposed legislation are to establish the Bureau of Indian standards (BIS) 

as the National Standards Body of India.

• The Bureau will perform its functions through a Governing Council, which will consist of its 

President and other members

• The Bill seeks to include goods, services and systems, besides articles and processes under the

standardization regime , to enable the government to bring under the mandatory certification regime 

such articles, process or service which it considers necessary from the point of view of health, safety, 

environment, prevention of deceptive practices, security etc.

5. The Union Government in May 2015 gives nod to promulgation of ordinance to amend Negotiable

Instrument Act of_____ year

(1) 1981 (2) 1970 (3) 1947 (4) 1908 (5) 1881

The Union Government, in May 2015, gave nod for promulgation of Ordinance to amend Negotiable

Instruments Act, 1881. The ordinance paves way for filing of cheque bounce cases in place where the cheque was issued.

Negotiable Instruments (Amendment) Bill, 2015

• The amendment bill adds provision to specify the territorial jurisdiction of the courts in cases related 

to bouncing of cheques which was not present in the parent

• It says that cases in this regard need to be filed only in a court in whose jurisdiction the bank branch 

of the payee lies.

• It also adds provision related to more than one case is filed against the same person before different 

courts for bouncing of cheques.

• In this matter, the case will be transferred to the court that has appropriate jurisdiction. The bill also 

amends the definition of cheque.

• Now it defines it as cheque in the electronic form which is signed in a secure system with a digital 

signature or using electronic system and drawn in electronic medium using any computer resource.

Negotiable Instruments Act, 1881

• The Act defines bills of exchange, promissory notes, cheques and creates penalties for issues such as 

bouncing of cheques. It also specifies circumstances under which complaints for cheque bouncing 

can be filed.

6. Which state in June 2015 launched village mentoring project?

(1) Haryana (2) Punjab (3) Bihar (4) Rajasthan (5) Jharkhand

The Haryana Government, on 20 June 2015, launched a Village Mentoring Project (VMP) to improve healthcare and education of the villagers with a special emphasis on girl child. The project was commenced in the state from Panchkula district in association with Indian School of Business (ISB), Mohali.

7. In which of the following State, the Union Cabinet in May 2015 gave its approval for setting up of 

a new Ammonia Urea complex?

(1) Manipur (2) Assam (3) Mizoram (4) Meghalaya (5) West Bengal

The Union Cabinet on 21 May 2015 gave its approval for setting up of a new Ammonia-Urea Complex at Namrup in Assam. The complex will be set up on Public-Private Partnership (PPP) mode by a joint venture (JV). In the proposed JV, PSU Brahmaputra Valley Fertilizer Corporation Limited (BVFC), Government of Assam and Oil India Limited (OIL) shall have 11 percent, 11 percent and 26 percent equity holding respectively and balance 52 percent by private/ public sector entity (entities) which would be inducted through a competitive bidding process.

8. Name the State in which the Union Cabinet in May 2015 approved the revival of closed area unit 

of Fertilizer Corporation India Limited?

(1) Bihar (2) Jharkhand (3) Punjab (4) Haryana (5) Gujarat

The Union Cabinet, in May 2015, approved the revival of closed urea unit of Fertilizer Corporation India Limited (FICL) at Sindri in Jharkhand with an investment of 6000 crore rupees. The Sindri plant has been closed since 2002 despite the fact that there is no functional Urea unit in the eastern part of the country except two small units at Namrup in Assam.

9. The Commerce and Industry Ministry in June 2015 initiated an extensive survey on in states with 

an objective to improve the business climate of the country.

(1) Growth Target (2) Investment Scenario (3) Rate of interest 

(4) Ease of doing Business (5) All of these

The Commerce arid Industry Ministry, in June 2015, initiated an extensive survey on ‘ease of doing business’ in states with an objective to improving the business climate of the country. The key objectives of the survey are to assess the implementation of various factors enabling ease of doing business in a state and to do a comparative study of states with regards to the implementation status.

10. Government in May 2015 relaxed norms for import of which of the following commodity through 

old ships and vessels? 

(1) Sugar (2) Cement (3) Diesel (4) Vegetable oil (5) Gold

The Directorate General of Foreign Trade, on 21 May 2015, relaxed norms for import of high-speed diesel and light diesel oil through old ships and vessels that are coming to India for the purpose of breaking. Earlier such imports were allowed through state trading enterprises. The move would give a boost to the ship breaking industry. Alang in Gujarat is the Asia’s largest ship breaking yard.

11. Agriculture Minister Radha Mohan Singh in June 2015 launched _________ for farmers? 

(1) Insurance Portal (2) Literacy Programme (3) Loan Scheme 

(4) Both (1) arid (2) (5) Both (1) and (3)

Agriculture minister Radha Mohan Singh, on 18 June 2015, launched an insurance portal for farmers that will help with queries and getting cover.

• Under the current provisions, farmers can insure their crops under three programmes the National 

Agriculture Insurance Scheme (NAIS), Modified National Insurance Scheme (MNAIS) and 

Weather-Based Crop Insurance Scheme (WBCIS)

• Besides this, the Coconut Palm Insurance Scheme (CPIS) is applicable in some parts of the 

country. However, as per the agriculture ministry, only about 20% of gross cropped area was insured 

in 2014 - 15.

12. Name the State in which, Tata Steel in June 2015 sets up a new company to spearhead its 

investment in a proposed special economic zone (SEZ)?

(1) Odisha (2) Gujarat (3) West Bengal (4) Bihar (5) Punjab

Tata Steel, on 19 June 2015, announced to have set up a new company to spearhead its investment in a proposed special economic zone at Gopalpur in Odisha, seeking to attract global electronics and electrical component makers from China and Southeast Asia and defence sector manufacturers.

13. How much funding has been allocated by World Bank for ‘Jal Marg Vikas project?

(1) $1 million (2) $2.5 million (3) $3 million (4) $3.5 million 

(5) $5 million

The ‘Jal Marg Vikas’ (National Waterway-i) project, which envisages developing a fairway between 1,620 km Allahabad and Haldia stretch, took off with a $3.5 million funding from the World Bank on 2 June 2015.

• Finance Minister Arun Jaitley in the budget had announced a project on Ganga called ‘Jal Marg 

Vikas’ (National Waterway-1) to be developed between Allahabad and Haldia covering a distance of 

1,620 kms at an estimated cost of Rs 4,200 crore, to be completed in six years

• The central government has designated the Inland Waterways Authority of India (IWAI) as the 

implementing agency, with a Project Management Unit (PMU), for the Jal Marg Vikas Project, an 

IWAI spokesperson said.

• National Waterway-1 (NW-1) is a waterway passing through Uttar Pradesh, Bihar, Jharkhand and 

West Bengal, potentially serving the major cities of Haldia, Howrah, Kolkata, Bhagalpur, Patna, 

Ghazipur, Varanasi, Allahabad and their industrial hinterlands including several industries located 

along the Ganga basin.

14. REGIONAL RURAL BANKS IN INDIA-

The institution of RRBs was created to meet the excess demand for institutional credit in the

rural areas, particularly among the economically and socially marginalised sections. Although 

the cooperative banks and the commercial banks had reasonable records in terms of geographical 

coverage and disbursement of credit, in terms of population groups the cooperative banks were 

dominated by the rural rich, while the commercial banks had a clear urban bias.

The RRBs were established “with a view to developing the rural economy by providing, for the 

purpose of development of agriculture, trade, commerce, industry and other productive activities 

in the rural areas, credit and other facilities, particularly to small and marginal farmers, agricultural labourers, artisans and small entrepreneurs, and for matters connected therewith and incidental 

there to.

On Oct 2nd 1975 govt of India has established 5 RRBs in India-these were-

1-GORAKHPUR[ UP]

2-MORADABAD[ UP]

3-JAIPUR[RAJASTHAN]

4-BHIWANI[HARYANA]

5-MALDA[WB]

The capital structure of RRBs is as follows-

50 % with the govt of India.

15 % with the state govt.

35 % with the lead bank.

15. LEAD BANKS-are those banks which has the largest number of branches in a district