Exercise :: Economy - Latest Current Affairs
- Economy - Latest Current Affairs
| 1. | As per ADB's Asian Development Outlook report, India is the fastest growing economy in Asia with the GDP of __________. |
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Answer: Option B Explanation: As per Asian Development Bank (ADB)'s Asian Development Outlook report India continues to be the fastest growing economy in Asia with projected GDP growth of 7.3 per cent. Growth would accelerate to 7.6 percent in 2019. Growth would be driven by increased public spending, higher capacity utilisation rate and uptick in private investment, reform in the banking sector and tax. China will decelerate to 6.6 per cent in 2018 and further to 6.4 per cent in 2019. Globally, South Asia would be the fastest growing sub-region despite trade tensions with US.
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| 2. | RBI to issue New Design Rs.100 denomination banknote. The base colour of the note is; |
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Answer: Option C Explanation: The Reserve Bank of India will shortly issue Rs100 denomination banknotes in the Mahatma Gandhi (New) Series, bearing the signature of Dr Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has Motif of "RANI KI VAV" on the reverse, depicting the country's cultural heritage. The base colour of the note is Lavender. The dimension of the banknote will be 66 mm x 142 mm.
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| 3. | Recently, CBIC launched an app to verify if the person collecting GST from the consumer is eligible to collect it or not. The name of the app is; |
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Answer: Option A Explanation: Central Board of Indirect Taxes and Customs (CBIC) has launched a mobile app 'GST Verify' developed by B Raghu Kiran, joint commissioner GST Hyderabad. It is an android app to verify if the person collecting GST from the consumer is eligible to collect it or not.
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| 4. | Which company becomes India's largest tax payer in private sector? |
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Answer: Option B Explanation: Reliance Industries Chairman Mukesh Ambani at the Reliance Industries' 41st Annual General Meeting announced that Reliance is India's largest payer of Goods and Services Tax (GST), Excise and Customs Duty, and Income Tax in the private sector paying Rs.9844 crore in FY18. Reliance has become the first Indian company to record PBDIT (Profit Before Depreciation Interest and Taxes) of over $10 billion.
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| 5. | How many countries have been tagged as "high-risk jurisdictions" by global bank? |
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Answer: Option C Explanation: China, UAE, Cyprus and significantly, Mauritius, along with 21other countries have been tagged as "high-risk jurisdictions" by global banks acting as custodians for foreign funds which comprise the largest group of investors in the Indian stock market. Large investors and beneficial owners of these funds entering India through these high-risk jurisdictions will face close scrutiny while non-resident Indians and persons of Indian origin will run into new hurdles in participating in funds set up in these countries for trading on Indian exchanges.
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