09-08-2021 MCQs Test

1. Consider the following statements about the Public Accounts Committee:

1. It consists of 25 members of which 15 are from Lok Sabha and 10 from Rajya Sabha.
2. The term of office of the members is one year.

Which of the above statements is/are incorrect?

2. In which of the following state does India has international arbitration centre?

3. Consider the following statements about the Singapore International Arbitration Centre (SIAC):

4. Who is not included in G4 Nations?

5. Which of the following Union Territory launched a month-long campaign — ‘PaniMaah’ (Water Month)?

6. Consider the following statements:

1. India till now has been elected for eight terms for a two-year non-permanent member seat.
2. In 2021 and 2022, India is a non-permanent member of the United Nations Security Council and is president for the month of August 2021.

Which of the above statements is/are incorrect?

7. What is Permanent Forum of People of African Descent?

1. The forum will consist of 10 members.
2. Five members will be elected by the General Assembly from all regions.

Select the correct answer from the codes given below.

8. Consider the following statements:

1. Long-term Capital Gains Tax is a levy on the profits from the sale of assets held for more than a year.
2. Short-term Capital Gains Tax applies to assets held for a year or less and is taxed as ordinary income.

Which of the above statements is/are correct?

9. What is Repo Rate?

1. The government increases the repo rate when they need to control prices and restrict borrowings.
2. It is decreased when there is a need to infuse more money into the market and support economic growth.

Select the correct answer using the options given below.

10. Union Government had declared the National Handloom Day in July 2015 on: