Union Budget 2011-12 Part I

Union Budget 2011-12 Part I

Highlights of Union Budget 2011-12 announced by Finance Minister Pranab Mukerjee is as follows:


• The year was full of challenges for fiscal consilidation: FM
• Economy set for double-digit growth in coming years
• Growth in 2011 was broad based
• Need to make development more inclusive
• High growth trajectory is our aim
• Food inflation is a big concern
• To reconcile environment concerns, growth needs
• Much needs to be done in rural India
• Need to improve regulatory standards to fight corruption
• Agriculture sector has shown significant rebound
• Don't see resources as a constraint to growth
• Corruption is a problem we have to fight collectively
• Working on simplifying tax rules, trade and tariff norms
• Must ensure that private investment is sustained
• Agriculture growth at 5.4%, industry at 8.1% in 2010-11
• Monetary policy is keeping food inflation in check
• Seen shortcomings in food supply chains
• Recovery in developed nations has taken roots
• Average inflation to be lower next year, current account deficit to be better managed
• Impression of drift in government is misplaced
• Exports up 9.4% in 2010-11
• Laying down fiscal consolidation map for next five years
• DTC to be effective April 1, 2012
• The economy has shown remarkable resilience
• To introduce Public Debt Management Bill in 2012
• States to cut down fiscal deficit to 3 percent of Gross State GDP by 2014
• GST rounds with states making considerable progress
• Availability of fertilizers has improved post new policy
• Working on ensuring better delivery for urea, kerosene
• Nutrient based fertilizer policy for urea under consideration
• To move to direct cash subsidy for kerosene, fertilizer
• National Fertilizers up 7%, Rashtriya Chemicals up 4.28%, Coromandel Intl up 4.55%
• Retain divestment target of Rs 400 billion
• Govt committed to retain 51 percent stake in PSUs
• Nifty up by 70 points at 5,368, Sensex near 17,976, up by 275 points
• Task force working on oil subsidy plans
• FII limit in corporate bonds raised to USD 40 billion
• FIIs allowed to invest in MFs; unlisted bonds with minimum lock in period of 3 yrs
• Auto stocks down on profit-booking; Hero Honda down 4%
• To bring legislative amendments for banking licenses this year
• Plan to allow FII limit in infrastructure bonds to USD 25 bn
• Pranab proposes to allocate Rs 60 bn for some PSU banks to help them maintain Tier-I capitalat 8%
• To provide Rs 20 bn for warehousing facilities
• To provide Rs 20 bn for manufacturing facilities
• To bring legislative amendments for banking licenses this year
• Interest subvention of 1% extended from Rs 5 lakh crore to Rs 20 lakh crore
• To provide Rs 50 bn to SIDBI to meet priority lending targets
• Textile Gainers: Spentex, BSL, Abishek industries, Gokuldas, IDFC
• Reality Gainers: HDFC 2.75%, DLF 2%, Unitech 3.2%, LIC Housing Finance 3.8 %
• Reality Gainers: HDFC 2.75 %, DLF 2 %, Unitech 3.2 %, Lic Housing Finance 3.8 %
• To provide Rs 3 bn to improve production of pulses
• Plan to introduce Companies Bill in current session
• Rural housing fund corpus raised to Rs 30 bn vs Rs 20 bn
• Aim to allocate Rs 1 bn to SIDBI for women
• Fertilizers gain as FM says urea policy under consideration
• To set up Mortgage Risk Guarantee fund for rural housing
• Allocation for farm development increased to Rs 7860 cr
• Edible Oil Gainers: KS Oil up 2.24%, Raj oil up 3.45%
• To provide Rs 300 cr for implementing initiatives on vegetables
• TCI to benefit from Govt support for warehousing
• FIIs allowed to invest in 5-year unlisted bonds
• To provide Rs 3 bn to improve oil seed plantations
• PSU banks gains as FM proposes to allocate Rs 60 bn
• BSE FMCG Index up 1.5% on budget announcements
• To infuse Rs 30 bn in NABARD in phased manner
• Rupee up on increase in FII corp bond limit
• Banking gainers: Dewan housing up 4.88%, Federal Bank up 4.47%, IDBI Bank up 1.9%
• Inflation remains principal concern, to fall next yr: FM
• Cold storage projects classified as infrastructure sector
• Rs 3 bn provided to promote pulses cultivation in rain-fed areas, another Rs 3 bn to promote farm product cultivation.

Railway Budget 2011-11

Highlights of Railway Budget 2011-12

• Multi-purpose smart cards for long-distance travel.
• Double-decker AC trains for Ahmedabad-Mumbai, Jaipur-Delhi.
• New trains for states going to the polls.
• Capacity of 107 Mumbai trains to be increased.
• New trains for Vivekananda, Tagore birth anniversaries.
• Mamta announces three new Shatabdhis.
• Mamta announces new Duronto trains.
• 50 per cent concession on fares for media personnel and their families twice a year.
• Concessions for the physically challenged on Rajdhani and Shatabdhi trains
• Senior citizen concessions for women start at age 58 instead of 60.
• Railways will strengthen suburban networks in Kolkata, Ahmedabad, Chennai,
  Bengaluru.
• Suburban networks of Hyderabad and Secunderabad will be improved.
• Proud of my state, will do more for it, says Mamata.
• Kindly continue, Meira Kumar tells Mamata.
• Haven't announced anything major, yet MPs are shouting, complains Mamata.
• Speaker Meira Kumar smiling, waiting for screaming MPs to settle down.
• MPs on their feet, shouting Mamata down.
• 'Poora karne deejiye,' Meira Kumar tells screaming MPs.
• Lalu is speaking, but no one can hear him in the din.
• West Bengal-orientation of Mamata's proposals irk MPs
• Mamata screams back at fellow-MPs. Meira Kumar calls for calm.
• Please sit down, please sit down, please sit down, Meira Kumar tells MPs.
• Kolkata Metro will expand its network.
• Railways will go from strength to strength, says Mamata.
• Revenue will exceed Rs 1 lakh crore, a 9.9 per cent increase over last year's number.
• Kolkata to get 15 new suburban trains.
• 2011 is Green Energy Year for railways, says Mamata.
• Safety measure: All unmanned level crossings will be removed.
• Railways facing money shortage, passing through difficult phase, says Mamata.
• 150th birth anniversary of Rabindranath Tagore: Train will go to Bangladesh on a
  commemorative journey.
• International training centre to come up at Agra.
• Meira Kumar makes a farmaish:' Where are your couplets?'
• 10 year-backlog in recruitment will be addressed right away, says Mamata.
• Elderly workers will be transferred to less strenuous positions.
• Ticket booking charges reduced by 50 per cent.
• Smart card tickets to be introduced.
• Mamata apologises for missed targets. Will do better this year, she promises.
• Railways environment-friendly and fuel-efficient, says Mamata.
• Railways to get help from IITs to develop new technology.
• Trouble-free states can decide what reward projects they want.
• Two extra trains and two new projects for states with no rail roko agitations.
• Rail is 'desh ka service', stop rail roko agitations, urges Mamata.
• Lalu suppresses a yawn as Mamata delivers budget speech.
• Anti-collision device is ready, three zonal railways will commission it soon.
• Fund for social causes will be called PM Rail Vikas Yojana.
• Mamata to set up fund to support social causes.
• Mamata plans gas-based power plant in Maharashtra.
• Questions and shouts distract Mamata, but she resumes her budget speech.
• Mamata on new connections: "If rail connectivity is there, every connectivity will increase in this country."
• Railways to create 10,000 shelters for the poor.
• Mamata plans to raise Rs 10,000 crore from tax-free bonds.
• More than 4 lakh travelled on Izzat tickets, priced at Rs 25.
• Railways' infrastructure will be expanded, says Mamata.
• Nandigram to get railway industrial park.
• Singur in West Bengal to get metro coach factory.
• Track-making centre to come up at Uluberia in West Bengal.
• Economic focus along with social concerns
• Railway Industrial Park to be set up in Nandigram
• 10,000 shelters to be built for homeless
• Manipur to be connected to Rail network for the first time
• Proposal for setting up gas-based power plant in Maharashtra
• Housing units will come up in Mumbai, Sealdah, Siliguri and Tiruchirapalli on pilot basis ...

Pandora Box XII

Feb 2011 Part IV

Consider the following statements:

1. The Minimum Wage Act 1948 is implemented by the Department of Revenue of all the State Governments

2. The Minimum Wages are Fixed by the Central Government

Which among the above statements is / are correct?

(A)Only 1 is correct

(B)Only 2 is correct

(C)Both 1 & 2 is correct

(D)Neither 1 nor 2 are correct

Ans:D

2.Consider the following statements:

1. The subject of Education is in Concurrent List

2. Many states demand that education should be placed in the State List

Which among the above statements is / are correct?

(A)Only 1 is correct

(B)Only 2 is correct

(C)Both 1 & 2 are correct

(D)Neither 1 nor 2 is correct

Ans:C

3.Consider the following:

1. Convention on Biological Diversity

2. United Nations Framework Convention on Climate Change

3. Kyoto Protocol

The United States Government has ratified which among the above?

(A)Only 1

(B)Only 1 & 2

(C)Only 2 & 3

(D)Only 2

Ans:D

4.With which among the following subjects, the Agenda 21 , that came out of Earth Summit 1992 , explicitly deals with ?

(A)Green House Gases

(B)Climate Changes

(C)Sustainability

(D)Ozone Layer Protection

Ans:C

5.Where is located the National Biodiversity Authority ?

(A)Hyderabad

(B)Chennai

(C)Kolkata

(D)New Delhi

Ans:B

6.Which among the following country does not come in the "Horn of Africa"?

(A)Somalia

(B)Eritrea

(C)Djibouti

(D)Sudan

Ans:D

7.The recently adopted "Nagoya Protocol " is related to which among the following?

(A)International Finance

(B)Biodiversity

(C)Pharmaceutical Industry

(D)Global Warming

Ans:B

8.What is the motive of the Reserve Bank of India to launch a "Housing start-up index (HSUI)"?

(A)The people would be able to find the houses of their budget and choice

(B)The Index will be a separate index made up of shares of construction companies, so that the investors get better picture of this sector

(C)The index will give a clear picture of the economic activities as the new start ups in the housing sector boost demand and supply

(D)All of above

Ans:C

9.Consider the following:

1. Liquefied Natural Gas (LNG)

2. Compressed Natural Gas (CNG)

3. Shale Gas

Methane is the main component of which among the above gases?

(A)Only 1

(B)Only 1 & 2

(C)Only 2 & 3

(D)All of them

Ans:D

10.How does the Isotope of Iodine, Iodine-135 plays an important role in Nuclear Power Generation?

(A)It is used as a fuel supplement in some of the modern Nuclear Reactors

(B)It is a bi-product of Nuclear Reaction which kills the neutrons and this inhibits the power formation

(C)It is a moderator used actively in the Nuclear Reactors

(D)It is an experimental substance for Nuclear Fusion

Ans:B

11.Which among the following is the dangerous Green House Gas, created by the Waste Water?

(A)Nitrogen

(B)Sulfur Dioxide

(C)Methane

(D)Carbon Dioxide

Ans:C

12.Which among the following has not been a source of substantial power in India as of now?

(A)Solar Energy

(B)Wind Energy

(C)Bio-Energy

(D)Tidal Energy

Ans:D

13.A two-week long joint counter-insurgency exercise named "Nomadic Elephant" was conducted in Belgaum in December 2010 between India and which among the following armed forces?

(A)Malaysia

(B)Sri Lanka

(C)Mongolia

(D)Myanmar

Ans:C

14.The Jasmine Revolution of late 2010, is related to which among the following countries?

(A)Egypt

(B)Myanmar

(C)Poland

(D)Tunisia

Ans:D

15.Which among the following country is world's largest Offshore Oil and Gas producer?

(A)USA

(B)UK

(C)Norway

(D)China

Ans:A

16 . Which among the following ministries of India was recently making news for its controversial Go and no go policy ?

(A) Ministry of Tourism

(B) Ministry of Environment and Forests

(C) Ministry of External Affairs

(D) Ministry of Overseas Indians

Ans:B

17 . Which among the following pesticide was recently under controversies for its use or ban in India, particularly in Kerala for its mal-effects on workers of the Cashew Plantations?

(A) Eldrin

(B) DDT

(C) Endosulfan

(D) Paraquat

Ans:C

18 . Consider the following:

1. SEBI

2. RBI

3. PFRDA

4. IRDA

Which among the above are proposed to be the members of the proposed Financial Stability Development Council (FSDC)?

(A) SEBI and RBI

(B) SEBI, RBI & PFRDA

(C) SEBI, RBI, PFRDA and IRDA

(D) SEBI, RBI and IRDA

Ans:C

19 . Consider the following:

1. Both India and United States have ratified the Convention on Supplementary Compensation for Nuclear Damage

2. India is among five countries with a minimum of 400,000 units of installed nuclear capacity, that have ratified the Convention on Supplementary Compensation for Nuclear Damage

Which among the above statements is / are correct?

(A) Only 1 is correct

(B) Only 2 is correct

(C) Both 1 & 2 are correct

(D) Both 1 & 2 are incorrect

Ans:C

20 . Consider the following statements regarding GSLV Mk III:

1. GSLV -Mk III is a successor to the GSLV-II that was in use after India and Russia collaborated on the technology transfer successfully

2. GSLV-Mk III will be used to send Indian Satellites into sun synchronous orbits

Which among the above statements is / are correct?

(A) Only 1 is correct

(B) Only 2 is correct

(C) Both 1 & 2 are correct

(D) Neither 1 nor 2 is correct

Ans:D

21 . Consider the following:

1. Bioaccumulation

2. Bio-concentration

3. Bio-magnification

Which among the above take place at the same trophic level of the Food Chain?

(A) Only 1

(B) Only 2

(C) Only 2 & 3

(D) Only 1 & 2

Ans:D

22 . The Hydro chlorofluorocarbons (HCFCs) are the compounds which have the following molecules:

1. Hydrogen

2. Carbon

3. Chlorine

4. Fluorine

Which among the above plays the most important role in Ozone depletion?

(A) Hydrogen

(B) Carbon

(C) Chlorine

(D) Fluorine

Ans:C

23 . The Washington Convention whose formal name is abbreviated as CITES is related to which among the following?

(A) Pesticides

(B) Ozone Depletion

(C) Endangered Species

(D) Human Rights

Ans:C

24 . If a Hydrogen atom is removed from a hydrocarbon of Benzene group, the remaining residue is called _________?

(A) Alkyl

(B) Aryl

(C) Arene

(D) Azene

Ans:B

25 . Where is located Asthenosphere?

(A) Above stratosphere

(B) Below Ionsphere

(C) Below Lithosphere

(D) Above Lithosphere

Ans:C

26 . Haber Process is used to produce which among the following?

(A) Potash

(B) Ammonia

(C) Urea

(D) Nitrates

Ans:B

27 . Which among the following is popularly known as mercantile law of India ?

(A) Contract Law

(B) Law of Torts

(C) Labour Law

(D) Property Law

Ans:A

28 . Overdose of antibiotics will cause the suppression of synthesis of which among the following vitamins in human body?

(A) Vitamin A

(B) Calciferol

(C) Vitamin K

(D) Biotin

Ans:D

29 . Consider the following statements:

1. Brackish water is water that has less salinity than seawater

2. Brackish water is water that has less density than seawater

Which among the above statements is / are true?

(A) Only 1 is correct

(B) Only 2 is correct

(C) Both 1 & 2 are correct

(D) Neither 1 nor 2 is correct

Ans:C

30 . The Upper House of Egypt parliament is known as which among the following?

(A) Shura Council

(B) Majilis Al-Sha’ab

(C) Dewan Raky

(D)Majlis al-Nuwaab

Ans:A

Pandora Box XI

CURRENT AFFAIRS ON BUSINESS AND ECONOMY

Feb 2011 Part III

1. What is RBI's share in NABARD equity currently?

a.99% b.51%

c.49% d.1%

ANS:D

2. … is the indirect tax that registered maximum growth during the first half of 2010-11

a. Excise duty

b. Custom duty

c. Service tax

d. None of the above

ANS:B

3. India recently signed a Line of Credit Agreement worth $ 1 billion with …

a. Germany

b. Australia

c. Malaysia

d. Indonesia

ANS:A

4. Which of the following key rate of RBI was highest among all as on November 2, 2010?

a. Repo rate

b. Reverse repo rate

c. Bank rate

d. Cash reserve ratio

ANS:A

5. US recently announced one of the largest weapons sales in its history worth about $ 60 billion to which country?

a. Kuwait

b. Saudi Arabia

c. Pakistan

d. Afghanistan

ANS:B

6. Who among the following did not bag the Nobel Prize 2010 for Economics?

a. Christopher Pissarides

b. Peter Diamond

c. Dale Mortensen

d. Akira Suzuki

ANS:D

7. Among the following, who did not fi gure in the Forbes' 100 Most Powerful Women list?

a. Indra Nooyi

b. Chanda Kochhar

c. Savitri Jindal

d. Shikha Sharma

ANS:C

8. The direct tax that registered negative growth during the first half of 2010-11 is …

a. Corporate tax

b. Income tax

c. Wealth tax

d. Securities transaction tax

ANS:D

9. … is not a financial regulator.

a. IRDA

b. PFRDA

c. AMFI

d. SEBI

ANS:C

10. The Indian rupee symbol is based on which script?

a. Roman

b. Devnagri

c. Both a and b

d. None of the above

ANS:C

11. The Nobel Prize in Economics 2010 was shared by how many economists?

a. 2

b. 3

c. 4

d. 5

ANS:B

12. Indentify the Indian state that was the fi rst to introduce Public Service Guarantee Act 2010.

a. Gujarat

b. Madhya Pradesh

c. Haryana

d. Bihar

ANS:B

13. Who won the 'Business Leader of the Year' title at Economic Times Corporate Excellence

Awards2010?

a. R. C. Bhargava(Maruti Suzuki)

b. Mukesh Ambani (RIL)

c. Aditya Puri (HDFC Bank)

d. Ratan Tata (Tata Group)

ANS:C

14. The Union Government has declared … as the 'National Heritage Animal' recently.

a. Tiger

b. Elephant

c. Lion

d. Camel

ANS:B

15. India was ranked … in the Global Hunger Index released by IFPRI in October 2010.

a. 67th

b. 69th

c. 71st

d. 74th

ANS:A

16. The new chief of National Green Tribunal, constituted in October 2010 is ..

a. S. K. Puri

b. Anil K. Pandey

c. Lokeshewar Singh

d. Y. S. Dadwal

ANS:C

17. The Goods and Service (GST) proposed to be introduced in 2011 is likely to cover

a. Trade, Sales tax

b. Service, Trade tax

c. Service, Excise, Sales tax

d. Excise, Service, VAT tax

ANS:D

18. India is exploring Shale gas reserves with which country?

a. France

b. Germany

c. United Kingdom

d. USA

ANS:D

19. Who won the Lal Bahadur Shastri Award 2010 for excellence in public administration academia

andmanagement?

a. Arvind Kezeriwal

b. Aruna Roy

c. Kapil Sibal

d. Zia Modi

ANS:B

20. The first World Statistics Day was celebrated on …

a. October 17, 2010

b. October 18, 2010

c. October 19, 2010

d. October 20, 2010

ANS:D

21. ... is not a part of the TAPI gas pipeline project.

a. India

b. Afghanistan

c. Turkmenistan

d. Pakistan

ANS:B

22. The two-day summit of Finance Ministers of G-20 nations was held in which country?

a. China

b. India

c. South Korea

d. Canada

ANS:C

23. Name the chairman of the high level infra finance committee formed by the Indian

Government.

a. Y. K. Alagh

b. Y. B. Reddy

c. C. Rangrajan

d. Rakesh Mohan

ANS:D

24. 'Udyami', a newly inaugurated helpline assists …

a. Micro, Small and Medium enterprises

b. Large capital industries

c. Only female entrepreneurs

d. Farmers introducing technology in farming

ANS:A

25. What is the term 'Smart Money' used for?

a. FDRs in Banks

b. Demand Drafts

c. Credit Cards

d. Internet Banking

ANS:C

26. Companies are required to list shares within … days of the closure of the Initial Public Offers (IPOs), as per the new guidelines issued by SEBI.

a. 9

b. 12

c. 15

d. 18

ANS:B

27. According to Census 2001, what is the percentage of urban population in India?

a. 26.7

b. 27.1

c. 27.8

d. 28.6

ANS:C

28. India is placed at ... position, out of 169 countries, in the 'Medium Human Development' category classified by Human Development Report 2010.

a. 116th

b. 117th

c. 118th

d. 119th

ANS:D

29. Name the country that tops the Human Development Index (HDI) in the Human Development Report 2010.

a. Norway

b. United States

c. Australia

d. New Zealand

ANS:A

30. What is the number of Finance Commissions set up till date?

a. 11

b. 12

c. 13

d. 14

ANS:C

31. RBI did not alter … in its review of monetary policy 2010-11 on November 2, 2010.

a. Only CRR

b. Only Bank Rate

c. Repo and Reverse Repo Rates

d. Both CRR and Bank Rate

ANS:D

32. The per capita income in India stands at … (as per the revised estimated data for 2009-10)

a. Rs. 40,000

b. Rs. 44,354

c. Rs. 47,690

d. Rs. 48,356

ANS:B

33. Identify the private telecom operator that was the first to introduce 3G services in India.

a. Vodafone

b. Docomo

c. Airtel

d. Aircel

ANS:B

34. Foodgrains production stood at … million tonnes for the year 2009-10, as per the 4th advance estimates.

a. 218.20

b. 218.25

c. 218.50

d. 218.75

ANS:A

35. The organisation that recently celebrated the silver jubilee year of its establishment is …

a. G-8

b. G-20

c. ASEAN

d. SAARC

ANS:D

36. Agriculture accounts for … of overall employment in India.

a. 41%

b. 48%

c. 52%

d. 57%

ANS:C

37. Youth Festival 2011 will be organised in which city?

a. Udaipur

b. Goa

c. Hyderabad

d. Bhubaneshwar

ANS:A

38. When was Jawahar Rozgar Yojana (JRY) started?

a. January 1, 1989

b. March 15, 1989

c. April 1, 1989

d. None of the above

ANS:C

39. Forward Market Commissions independently regulate …

a. Foreign exchange markets

b. Mutual funds

c. Commodity exchanges

d. Stock market

ANS:C

40. What percent of the Gross Domestic Product did agriculture account for in the year 2008-09?

a. 12.2

b. 13.5

c. 14.3

d. 15.7

ANS:D

41. The 17th ASEAN Summit was concluded on October 30, 2010 at which place?

a. Hanoi

b. Singapore

c. Manila

d. Kuala Lumpur

ANS:A

42. What is the total number of regional rural banks that are working in India?

a. 91

b. 96

c. 100

d. 102

ANS:B

43. Who coined the term 'transformational leadership'?

a. Ronald G. Greenwood

b. John Jacob Bausch

c. Solomon Loeb

d. James MacGregor Burns

ANS:D

44. The scheme …, was launched on December 31, 2001 with the objective to lessen the burden of parents in meeting the educational expenses of their children.

a. Shiksha Mitra Yojana

b. Sarva Shiksha Yojana

c. Shiksha Sahayog Yojana

d. Shiksha Madad Yojana

ANS:C

45. OECD has estimated the Indian economy to grow by … in the current fiscal.

a. 9.1%

b. 10.1%

c. 11.1%

d. 11.4%

ANS:A

46. What is the new bilateral trade target to be achieved by 2015 that has been agreed upon by India and China?

a. $60 billion

b. $66 billion

c. $71 billion

d. $75 billion

ANS:B

47. JWS Steel Ltd has entered into an agreement with Ispat Industries to buy stake worth …

a. `2,150 crores

b. `2,153 crores

c. `2,157 crores

d. `2,159 crores

ANS:C

48. The worth of the order that was recently bagged by Lanco Infratech from an arm of Moser Baer Projects to execute a 1200-MW power project is ...

a. `4,100 crores

b. `4,800 crores

c. `5,200 crores

d. `5,300 crores

ANS:A

49. Identify the woman who will join HPCL, a state owned oil company as its first ever woman director (marketing).

a. Sonali Gulati

b. Nishi Vasudeva

c. Sanghamitra Chaudhuri

d. None of the above

ANS:B

50. Malaysian automobile group DRB-Hicom will be investing more than … in Germany's Volkswagen AG to assemble vehicles for its regional market.

a. $100 million

b. $200 million

c. $250 million

d.$300million

ANS:. D