Current Affairs Quiz Today – 27th Jan 2021

ANS: (C) 3 only

Explanation:

• Manufactured sand (M-sand) is an alternative for river sand. Due to the depletion of good quality river sand for the use of construction, the use of manufactured sand has been increased.
• It is produced from hard granite stone by crushing.
• Usage of M-sand prevents dredging of river beds to get river sand which may lead to environmental disasters like groundwater depletion, water scarcity.
• It will reduce over-exploitation of river beds, it can be dust-free, etc.

ANS: (A) 1 only

Explanation

• The Ministry of Road Transport and Highways will levy a green tax on transport vehicles older than eight years at the time of renewal of fitness certificate at the rate of 10% to 25% of road tax. Hence, statement 1 is correct.
  • The revenue collected through the green tax will be kept in a different account and will only be utilised for tackling pollution.
• Vehicles like strong hybrids, electric vehicles and those running on alternate fuels like CNG, ethanol and LPG and vehicles used in farming, such as tractor, harvesters and tillers will be exempted from the green tax. Hence, statement 2 is not correct.
• Differential Taxation:
  • Personal vehicles are proposed to be charged green tax at the time of renewal of registration certification after 15 years.
  • Public transport vehicles, such as city buses, will be charged lower green tax.
  • Higher green tax (50% of road tax) will be levied on vehicles being registered in highly polluted cities.
  • Differential tax will also be charged depending on fuel (petrol/ diesel) and the type of vehicles.

ANS: (B) 2 only

Explanation

• The Padma Awards for the year 2021 were announced on the occasion of 72^nd Republic Day.
• Padma Vibhushan is highest in the hierarchy of Padma Awards followed by Padma Bhushan and Padma Shri. Hence, statement 1 is not correct.
• The Awards are given in various disciplines/ fields of activities, viz.- art, social work, public affairs, science and engineering, trade and industry, medicine, literature and education, sports, civil service etc.
• The Awards are conferred on the recommendations made by the Padma Awards Committee, which is constituted by the Prime Minister every year. Hence, statement 2 is correct.

ANS: (B) 1, 2 and 4 only

Explanation:

Off-budget borrowings are loans that are taken not by the Centre directly, but by another public institution which borrows on the directions of the central government. Such borrowings are used to fulfil the government’s expenditure needs.

But since the liability of the loan is not formally on the Centre, the loan is not included in the national fiscal deficit. This helps keep the country’s fiscal deficit within acceptable limits.

Comptroller and Auditor General report of 2019 points out, this route of financing puts major sources of funds outside the control of Parliament. “Such off-budget financing is not part of the calculation of the fiscal indicators despite fiscal implications,” said the report.

The government can ask an implementing agency to raise the required funds from the market through loans or by issuing bonds. In the Budget presentation for 2020-21, the government paid only half the amount budgeted for the food subsidy bill to the Food Corporation of India. The shortfall was met through a loan from the National Small Savings Fund.

Public sector banks are also used to fund off-budget expenses. For example, loans from PSU banks were used to make up for the shortfall in the release of fertiliser subsidy.