Q:

In  which  one  of  the  following  cities  are the  Summer  Olympics,  2020  going  to  be held?

A) London B) Paris
C) Tokyo D) Moscow
 
Answer & Explanation Answer: C) Tokyo

Explanation:
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Q:

BREXIT  refers  to  the  Great  Britain  leaving which one of the following?

A) International Monetary Fund B) Common wealth
C) World Trade Organization D) European Union
 
Answer & Explanation Answer: D) European Union

Explanation:

Brexit is the withdrawal of the United Kingdom from the European Union. In a referendum  on  23  June  2016, 51.9%    of    the    participating UK electorate voted  to  leave  the  EU, out of a turnout of 72.2%.

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Q:

Which  one  of  the  following  sectors  is  not affected   by   the   changes   made   in   the Foreign  Direct  Investment  Policy  in June 2016?

A) Multi-brand retailing B) Defence
C) Private security agencies D) Manufacturing   of   small   arms   and ammunitions  covered  under  the  Arms Act, 1959
 
Answer & Explanation Answer: D) Manufacturing   of   small   arms   and ammunitions  covered  under  the  Arms Act, 1959

Explanation:

Changes  made  in  FDI  policy  in June     2016     will     not     affect manufacturing  of  small  arms  and ammunition.

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Q:

The    Indian    Navy    in    October    2016 commissioned   the   highly   maneuverable fast  attack  craft  INS  Tihayu.  INS  Tihayu would be based in

A) Kochi B) Panaji
C) Visakhapatnam D) Mumbai
 
Answer & Explanation Answer: C) Visakhapatnam

Explanation:

The Indian Navy commissioned the highly   manoeuvrable   fast   attack craft  INS  Tihayu  at  the  Eastern Naval   Command   on   19   October 2016.  The  ship  was  commissioned at  Visakhapatnam  under  the  Naval Officer-in-Charge (Andhra Pradesh) and  would  be  deployed  for  coastal patrol  and  surveillance  operations along the Eastern Coast.

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Q:

Which   one   of   the   following   statements is  correct  in  relation  to  the  Indian  Air Force?

A) It has bases in many friendly countries. B) It  does  not  carry  out  joint  exercises with any country.
C) It    has    a    separate    Maintenance Command. D) No  officer  has  ever been  elevated  to the  rank  of  Marshal  of  the  Indian  Air Force.
 
Answer & Explanation Answer: C) It    has    a    separate    Maintenance Command.

Explanation:

Maintenance Command is a command of the Indian Air Force. It was raised as Maintenance Group at Chakeri in Kanpur in 1950. In 1955, it was designated as Maintenance Command.

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Q:

The  rank  of  Captain  of  the  Indian  Navy  is equivalent to which one of the following?

A) Captain of the Indian Army B) Group Captain in the Indian Air Force
C) Lieutenant Colonel of the Indian Army D) Wing  Commander  of  the  Indian  Air Force
 
Answer & Explanation Answer: B) Group Captain in the Indian Air Force

Explanation:

Rank  of  captain  of  Indian  Navy  is equivalent   to   Group   captain   of Indian Air Force.

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Q:

Amartya Sen was awarded the Nobel Prize for his contribution to 

A) Monetary Economics B) Welfare Economics
C) Environmental Economics D) Development Economics
 
Answer & Explanation Answer: B) Welfare Economics

Explanation:

Amartya   Sen,   Indian   economist who  was  awarded  the  1998  Nobel Prize  in  Economic  Sciences  for  his contributions  to  welfare  economics and social choice theory and for his interest    in    the    problems    of society's poorest members

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Filed Under: Indian Economy
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Q:

Goods  and  Services  Tax  likely  to  be  levied in India is not a

A) gross value tax B) value-added tax
C) consumption tax D) destination-based tax
 
Answer & Explanation Answer: A) gross value tax

Explanation:

GST  is  a  destination-based  tax,  it means   end   users   consuming   any goods or services is liable to pay the Goods  and  Services  Tax.  The  tax  is collected  by  the  State  in  which  the goods or services are consumed and not  by  the  state  in  which  goods  are manufactured    and    If    there    are exports,  the  seller  of  the  goods  or services  is  exempted  from  paying the tax. GST is a consumption-based tax,  it  means  the  state  where  the goods  were  consumed  will  receive GST   and   where   goods   were   sold should  not  get  any  taxes.GST  is  a value added tax as it is based on the increase  in  value  of  a  product  or service  at  each  stage  of  production or   distribution.GST   is   not   gross value tax.

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