Daily Static Quiz – 12th January, 2023

Ans: (c)
• The GST Appellate Tribunal (GSTAT) is the second appeal forum under GST for any dissatisfactory order passed by the First Appellate Authorities.
• The National Appellate Tribunal is also the first common forum to resolve disputes between the centre and the states.
• It holds the same powers as the court and is deemed Civil Court for trying a case.
• Section 109 of the GST Act mandates the constitution of the Tribunal.

Ans: (b)
The objective of the CAA is to grant Indian citizenship to persecuted minorities — Hindu, Sikh, Jain, Buddhist, Parsi and Christian — from Pakistan, Bangladesh and Afghanistan. o It does not protect all religious minorities, nor does it apply to all neighbours. Ex: Ahmedia Muslim sect in Pakistan, Rohingya Muslims and Hindus from Burma etc.
•The Act does not apply to tribal areas of Tripura, Mizoram, Assam and Meghalaya because of being included in the 6th Schedule of the Constitution.
• Also areas that fall under the Inner Limit notified under the Bengal Eastern Frontier Regulation, 1873, will also be outside the Act’s purview.

Ans: (a)
Production-Linked Incentive (PLI) scheme:
As the name suggests, the scheme provides incentives to companies for enhancing their domestic manufacturing apart from focusing on reducing import bills and improving the cost competitiveness of local goods. PLI scheme offers incentives on incremental sales for products manufactured in India. The scheme for respective sectors has to be implemented by the concerned ministries and departments.

Ans: (a)
The Scheme is applicable only for rural areas of the country. o Eligible Household: A household is defined as a unit comprising of Head of family, spouse, children and parents. All such households where none of the family member is digitally literate will be considered as eligible household under the Scheme.
o Entry criteria
▪ The beneficiary should be Digitally Illiterate
▪ Only one person per eligible household would be considered for training
▪ Age Group: 14 – 60 years
• The implementation of the Scheme would be carried out under the overall supervision of Ministry of Electronics and IT in active collaboration with States/UTs through their designated State Implementing Agencies, District eGovernance Society (DeGS), etc.

Solution: c)
Commensalism is a type of symbiotic relationship between organisms in which one organism benefits without harming the other. Many birds form a commensal relationship with some species of ants like the army ants. A great number of army ants trail on the forest floor, and while moving, stir up many insects lying in their path. The birds follow these army ants and eat up the insects that try to escape from them. The birds benefit by catching their prey easily, while the army ants are totally unaffected.

Solution: b)
Exposure to POPs can lead to cancer, damage to central & peripheral nervous systems, diseases of immune system, reproductive disorders and interference with normal infant and child development. Uniqueness of POPs: POPs are lipophilic, which means that they accumulate in the fatty tissue of living animals and human beings. In fatty tissue, the concentrations can become magnified by up to 70 000 times higher than the background levels. As you move up the food chain, concentrations of POPs tend to increase so that animals at the top of the food chain such as fish, predatory birds, mammals, and humans tend to have the greatest concentrations of these chemicals.

Solution:
(C)
The WPI and the CPI baskets are different, both at the weightage assigned to food, fuel and manufactured items as well as at the brokendown level of these segments.
The weight of food in CPI is higher than in WPI.
The WPI inflation does not capture price changes of services but the CPI does.
WPI inflation is released by Office of the Economic Adviser (OEA), Department for Promotion of Industry and Internal Trade (DPIIT).
CPI for Industrial workers CPI(IW), CPI for Rural Labourers (RL) and CPI for Agricultural Labourers CPI(AL) are compiled by Labour Bureau.
CPI(Urban), CPI(Rural) and CPI Combined are compiled by Central Statistical Organisation (CSO).

Solution:
(D)
Stagflation is a condition of slow economic growth and relatively high unemployment, or economic stagnation, accompanied by rising prices, or inflation.
Deflation is the general decline in prices for goods and services occurring when the inflation rate falls below 0%.

Solution:
(C)
Banks Board Bureau (BBB) is an autonomous body of the Government of India tasked to improve the governance of Public Sector Banks, recommend selection of chiefs of government owned banks and financial institutions and to help banks in developing strategies and capital raising plans.
The BBB works as step towards governance reforms in Public Sector Banks (PSBs) as recommended by P.J. Nayak Committee.
The BBB was the part of Indradhanush Plan of government.

Solution:
(C)
High and erratic inflation deters investors from making investment decisions because real returns on investments are uncertain.
Savings forms the base of the money that is borrowed for infrastructure building in the economy.
Low savings and high demand of capital lead to high borrowing costs and deter investors.