Current Affairs Quiz 2017

1.The World Bank (WB) has approved how much amount of loan to help India develop its first modern waterway?

$275 million $375 million $475 million $575 million

2.Which port has topped the list in the first-ever ranking of the ports on Sanitation Parameters under the Union Ministry of Shipping?

Kandla Port Cochin Port Haldia Port Vizag Port

3.India has signed sport partnership agreement with which country to increase cooperation in sports?

Canada United States Russia Australia

4.India’s first industrial-articulated robot “TAL Brabo” has been launched by which Indian company?

Tata Motors Maruti Suzuki Mahindra & Mahindra Eicher Motors

5.Dr. Mark Weinberhg, the renowned AIDS researcher has passed away. He hailed from which country?

Finland Canada Norway Australia

Food Crisis Continuation

Project Status: Global Food Crisis Response Program

Project Status: Externally Funded Trust Funds

As of January 2011, GFRP has approved $1,443.6 million. To date, $1,077.8 million out of the $1,443.6 million in total approved funding has been disbursed (75% of approved funds).

Total Bank-funded, Board-approved GFRP projects amount to $1,238.2 million, of which $202.4 million is from the Food Price Crisis Response (FPCR) Trust Fund for 27 countries, 17 of which are in Africa; $835.8 million is from IDA for 13 countries; and $200 million is from IBRD for a project in the Philippines. 80 percent of Bank-sourced Boardapproved funds have been disbursed).

Food Crisis

Food Crisis Facts & Figures

1.1 billion People were living on less than $1 a day and 923 million were undernourished, even before the food, fuel and financial crises.

Food prices remain volatile. Local food prices in many countries haven’t come down, although international food prices have fallen.

What the World Bank Is Doing(Updated January 13, 2011)



In response to the severity of the food crisis and the need for prompt action, the World Bank Group set up the Global Food Crisis Response Program (GFRP) in May 2008 to provide immediate relief to countries hard hit by food high prices. The Bank response has been articulated in coordination with the United Nations’ High-Level Task Force on food security.

2G OR NOT 2G

2G or Second Generation Spectrum Scam or the ‘mother of all scams’  as Christened by the media, has washed out all the other scams so far in  the history of Indian politics. With the opposition crying for a JPC (Joint Parliamentary Committee)  probe into the biggest scam ever, media has had a tough time covering  all the allegations and forced adjournments in the Parliament this winter  session.
 
The Government, on the other hand, has been asserting the adequacy  of the Public Accounts Committee for a probe into the irregularities. The standoff between the BJP-led NDA and the other members-the left  parties, AIADMK, Samajwadi party, BJD and TDP got another spurt with  the Comptroller and Auditor General of India (CAG) report that disclosed  a total loss of revenue to the exchequer by Rs.1.76 Lakh Crores. It the biggest ever in terms of the tax-payer’s money ever laundered  in the Indian History and is also termed as independent India’s biggest  financial scam.

PRELIMINARY

 1.
(1) This Act may be called the Direct Taxes Code, 2010.
(2) It extends to the whole of India.
(3) Save as otherwise provided in this Code, it shall come into force on the 1st day of April, 2012.

INCOME-TAX

BASIS OF CHARGE

2.
(1) In accordance with the provisions of this Code, every person shall be liable to pay income-tax in respect of his total income of the financial year.


(2) Subject to the provisions of this Code, income-tax, including additional income-tax, shall be charged in respect of the total income of a financial year of every person.
(3) Where the income-tax referred to in sub-section (2) is to be charged in respect of the income of a period other than the financial year, the income-tax for such period shall be charged accordingly.
(4) The income-tax referred to in sub-section (2) shall be charged at the rate specified in the First Schedule in the manner provided therein.
(5) In respect of the income chargeable under sub-section (2), income tax shall be deducted or collected at source or paid in advance, in accordance with the provisions of this Code.
(6) The chargeability of income-tax on the income of a financial year under the foregoing provisions shall be determined in accordance with the provisions of this Code as they stand on the 1st day of April of that financial year.
3.
(1) Subject to the provisions of this Code, the total income of any financial year of a person, who is a resident, shall include all income from whatever source derived which—
(a) accrues, or is deemed to accrue, to him in India during the year;