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- Which of the following points is/are ‘correct’ with respect to the 55th Goods and Services Tax (GST) Council meeting chaired by Union Minister Nirmala Sitharaman, Ministry of Finance (MoF) and Ministry of Corporate Affairs (MoCA) on December 21, 2024 in Jaisalmer, Rajasthan?
A) The GST Council has decided to reduce the GST rate on FRK which is classifiable under HS Code 1904, from 18% to 9%.
B) It has clarified that ready to eat popcorn which is mixed with salt and spices are classifiable under HS 2106 90 99 will attract 5% GST if supplied as other than pre-packaged and if supplied as pre-packaged and labelled, will attract 12% GST.
C) It has decided to raise the GST rate from 12% to 18% on sale of all old and used vehicles, including Electric Vehicles (EVs).
1) Only A & B
2) Only A & C
3) Only B & C
4) Only C
5) All A, B & CAnswer-3) Only B & C
Explanation:
The 55th Goods and Services Tax (GST) Council meeting chaired by Union Minister Nirmala Sitharaman, Ministry of Finance (MoF) and Ministry of Corporate Affairs (MoCA) was held on December 21, 2024 at Jaisalmer, Rajasthan.
The GST Council has decided to reduce the GST rate on Fortified Rice Kernels (FRK) which is classifiable under HS Code 1904, from 18% to 5%.
It has decided to introduce the rate of GST applicable on restaurant services in such hotels, for a given financial year (FY), based on the ‘value of supply’ of units of accommodation made in the preceding FY i.e. 18% with Input Tax Credit (ITC) if the value of supply is more than Rs 7,500 for any unit of accommodation in the preceding FY, and 5% without otherwise.
It has decided to raise the GST rate from12% to 18% on sale of all old and used vehicles, including Electric Vehicles (EVs) except: those specified at 18%-sale of old and used petrol vehicles of engine capacity of 1200 cubic capacity (cc) or more and of length of 4000 millimetre (mm) or above; diesel vehicles of engine capacity of 1500 cc or above and length of 4000 mm and SUVs.
It has clarified that ready to eat popcorn which is mixed with salt and spices are classifiable under HS 2106 90 99 will attract 5% GST if supplied as other than pre-packaged and if supplied as pre-packaged and labelled, will attract 12% GST.
It has recommended inserting an enabling provision in CGST Act, 2017 through Section 148A, to empower the government to enforce the ‘Track and Trace Mechanism’ for specified evasion-prone commodities. Click here to read more. - Which of the following points is/are ‘correct’ with respect to the 18th edition of ‘India State of Forest Report (ISFR 2023)’ on Volume I and Volume II released by Union Minister Bhupender Yadav, Ministry of Environment, Forest and Climate Change (MoEFCC) in December 2024?
A) India’s total forest stands at 7,15,342.61 square kilometer (sq km), which is around 21.76% of the geographical area of India.
B) Highest forest cover: Madhya Pradesh (MP) (77,073 sq km) followed by Arunachal Pradesh (AR) (65,882 sq km) and Chhattisgarh (55,812 sq km) are the top three states having largest forest cover in Area wise.
C) Rajasthan (14,524.88 sq km) covers the highest tree cover in India followed by Maharashtra (10,841.12 sq km) and Uttar Pradesh (UP) (8,950.92 sq km).
1) Only A & B
2) Only A & C
3) Only B & C
4) Only C
5) All A, B & CAnswer-1) Only A & B
Explanation:
On December 21, 2024, Union Minister, Bhupender Yadav, Ministry of Environment, Forest and Climate Change (MoEFCC) released the 18th edition of ‘India State of Forest Report(ISFR 2023)’ on Volume I and Volume II at Forest Research Institute (FRI) in Dehradun, Uttarakhand.
The ISFR report was brought out by the Forest Survey of India (FSI), MoEFCC on a biennial basis in 1987.
The ISFR 2023 report provides vital information on Forest and Tree resources of the country, based on 2 major activities: Forest Cover Mapping (FCM) and National Forest Inventory (NFI)
Total Forest & Tree Cover: 8,27,356.95 sq km (25.17% of India’s area). Forest cover: 7,15,342.61 sq km(21.76%) and Tree cover: 1,12,014.34 sq km (3.41%).
Highest forest cover: MP (77,073 sq km) followed by Arunachal Pradesh(AR) (65,882 sq km) and Chhattisgarh (55,812 sq km) are the top three states having largest forest cover in Area wise.
Top 3 states of Tree cover: Maharashtra (14,524.88 sq km) covers the highest tree cover in India followed by Rajasthan (10,841.12 sq km) and Uttar Pradesh (UP) (8,950.92 sq km).
The total annual potential production of timber from trees outside forest has been estimated as 91.51 million cum.
The total carbon stock in the forest is estimated to be 7,285.5 million tonnes(increase of 81.5 million tonnes). Click here to read more. - Which ministry has recently (in December ‘24) signed an agreement with the Department of Posts (DoP), Ministry of Communications (MoC), signed an agreement to establish 600 additional Passport Seva Kendras (POPSKs) at post offices nationally?
1) Ministry of Civil Aviation
2) Ministry of External Affairs
3) Ministry of Commerce and Industry
4) Ministry of Home Affairs
5) Ministry of TourismAnswer-2) Ministry of External Affairs
Explanation:
In December 2024, the Department of Posts (DoP), Ministry of Communications(MoC), signed an agreement with the Ministry of External Affairs (MEA) to establish 600 additional Passport Seva Kendras (POPSKs) at post offices nationally. The new POPSKs are expected to be operational by 2028-29.
These centres will be spread across India, utilizing the 6,40,000 points of sale under India Post.
By expanding its POPSK network, India Post aims to provide citizen-centric services and establish itself as a logistic company offering postal and life insurance services, alongside Rural Postal Life Insurance (RPLI) and parcel delivery. - In December 2024, the Securities and Exchange Board of India (SEBI) decided to postpone the Environmental, Social and Governance (ESG) disclosure deadline for value chain partners of listed companies from the current requirement of Financial Year 2024-25 (FY25) to ___________.
1) FY30
2) FY29
3) FY28
4) FY27
5) FY26Answer- 5) FY26
Explanation:
The Securities and Exchange Board of India (SEBI) has decided to postpone the Environmental, Social and Governance (ESG) disclosure deadline for value chain partners of listed companies by 1 year. i.e. shifting from the current requirement of Financial Year 2024-25 (FY25) to Financial Year 2025-26 (FY26). This decision was taken during the 208th meeting of SEBI Board held in Mumbai, Maharashtra.
With this, disclosure of ESG for value chain will remain ‘voluntary’, instead of the present ‘comply-and-explain’ requirement.
It has also decided that ESG disclosure for “assessment or assurance” will be applicable from FY27 instead of the current requirement of FY26.
This move aimed to promote ease of doing business for listed companies and their value chain partners in achieving Business Responsibility and Sustainability Reporting (BRSR) requirements.
SEBI has introduced a new leadership indicator in Principle 6 of BRSR under mandates listed companies and their top-10 value chain partners to disclose green credits created or procured.
It has further decided to replace the word “assurance” with “assessment or assurance” in SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, related to BRSR.
Assessments will be conducted by 3rd parties as per the standards outlined by the Industry Standards Forum (ISF) in consultation with SEBI. - In December 2024, the Reserve Bank of India (RBI) imposed a monetary penalty of ________________ on IndusInd Bank Limited and Rs. 20 lakh on _______________________ for non-compliance with certain provisions issued by RBI directions.
1) Rs. 43.64 lakh and Aditya Birla Finance Limited
2) Rs. 38.7 lakh and LIC Housing Finance Limited
3) Rs. 33.69 lakh and Mahindra Finance Limited
4) Rs. 27.3 lakh and Manappuram Finance Limited
5) Rs. 22.25 lakh and Muthoot Finance LimitedAnswer-4) Rs. 27.3 lakh and Manappuram Finance Limited
Explanation:
In December 2024, the Reserve Bank of India (RBI) imposed a monetary penalty of Rs. 47.30 lakh on IndusInd Bank Limited and Manappuram Finance Limited for non-compliance with certain provisions issued by RBI directions.
The penalty of Rs. 27.3 lakh on IndusInd Bank was imposed under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, for non-compliance with specific provisions of the ‘RBI (Interest Rate on Deposits) Directions, 2016’.
The penalty of Rs. 20 lakh on Manappuram Finance was imposed under clause (b) of sub-section (1) of Section 58G read with clause (aa) of sub-section (5) of Section 58B of the RBI Act, 1934, for non-compliance with certain provisions of the “RBI (Know Your Customer, KYC) Direction, 2016.”
The RBI conducted the Statutory Inspection for Supervisory Evaluation (ISE 2023) based on IndusInd Bank’s financial position as of March 31, 2023. After finding non-compliance with its directions, RBI issued a notice asking the bank.
RBI concluded that the bank had opened certain savings accounts for ineligible entities, justifying the monetary penalty.
The RBI conducted a statutory inspection of Manappuram based on its financial position as of March 31, 2023, and issued a notice for failing to comply with its directions.
RBI found that the company failed to verify customers’ Permanent Account Number(PAN) using the issuing authority’s facility and assigned multiple identification codes to some customers instead of a Unique Customer Identification Code (UCIC), warranting a monetary penalty. - Who has been recently (in December ‘24) appointed as the chairperson of the United Nations (UN) Internal Justice Council (IJC) from 19th December 2024 to 12th November 2028 by the UN Secretary-General António Guterres?
1) Justice Brijesh Kumar
2) Justice Altamas Kabir
3) Justice Madan B Lokur
4) Justice Dipak Mishra
5) Justice Markandey KatjuAnswer-3) Justice Madan B Lokur
Explanation:
The Former Supreme Court (SC) Judge of India Justice Madan B Lokur has been appointed as the chairperson of the United Nations (UN) Internal Justice Council (IJC) from 19th December 2024 to 12th November 2028 by the UN Secretary-General António Guterres.
He would head the council which also comprises other distinguished jurists.
Justice Lokur became a judge of the SC on 4th June 2012, and retired on 30th December 2018.
He was the standing counsel for the Central government for six years, from 1990 to 1996. In 1997, he was named a senior advocate, and in 1998, he was appointed as the Additional Solicitor General (ASG) of India.
In 2019, Justice Lokur was appointed as a judge on the non-resident panel of the Supreme Court of Fiji. He was the first Indian judge to be appointed to the Supreme Court of another country.
The United Nations General Assembly (UNGA) created the IJC as part of a new system to ensure independence, professionalism, and accountability in the UN’s justice system.
The IJC consists of five members who are appointed by the Secretary-General. - Match the following according to the recent (in December ‘24) appointment of Governors to the respected states.
State Governor i) Kerala a) Arif Mohammed Khan ii) Odisha b) Ajay Kumar Bhalla iii) Bihar c) Hari Babu Kambhampati iv) Mizoram d) Rajendra Vishwanath Arlekar v) Manipur e) General (Dr.) V.K. Singh 1) i – (b); ii – (e); iii – (d); iv – (c); v – (a)
2) i – (a); ii – (b); iii – (d); iv – (e); v – (c)
3) i – (e); ii – (c); iii – (a); iv – (b); v – (d)
4) i – (d); ii – (c); iii – (a); iv – (e); v – (b)
5) i – (c); ii – (a); iii – (d); iv – (e); v – (b)Answer-4) i – (d); ii – (c); iii – (a); iv – (e); v – (b)
Explanation:
On December 25 2024, President of India, Droupadi Murmu, appointed new Governors for 5 states Kerala, Odisha, Bihar, Mizoram and Manipur at the Rashtrapati Bhavan in New Delhi, Delhi.State New Governor Previous Governor Kerala Arif Mohammed Khan Arif Mohammed Khan Odisha Ajay Kumar Bhalla Raghubar Das Bihar Hari Babu Kambhampati Rajendra Vishwanath Arlekar Mizoram Rajendra Vishwanath Arlekar Hari Babu Kambhampati Manipur General (Dr.) V.K. Singh Lakshman Prasad Acharya All the appointments will be effective from the dates, the Governors assume charge of their respective offices.
President Droupadi Murmu has accepted the resignation of Raghubar Das as Governor of Odisha and appointed Hari Babu Kambhampati as the new Governor of Odisha.
Roles and Responsibilities of Governor: Appointment: According to Article 153, a Governor must be appointed for each state, with one person being able to serve as Governor for multiple states.
Eligibility: Article 157 and 158 outline the eligibility criteria for a person to be appointed as a Governor.
Appointment of CM and Ministers: Under Article 164, the Governor appoints the CM and other Ministers.
Assent to Bills: Under Article 200, the Governor has the power to assent to or withhold assent to bills passed by the Legislative Assembly, or reserve the bill for the President’s consideration. Click here to read more. - Which organisation has recently (in December ‘24) signed an agreement with the Indian Space Research Organisation to collaborate on activities related to astronaut training, mission implementation, and research experiments in space?
1) China National Space Administration
2) Japan Aerospace Exploration Agency
3) European Space Agency
4) National Aeronautics and Space Administration
5) Space Exploration Technologies CorporationAnswer-3) European Space Agency
Explanation:
In December 2024, the Indian Space Research Organisation (ISRO) and the European Space Agency (ESA) signed an agreement to collaborate on activities related to astronaut training, mission implementation, and research experiments in space.
The agreement was signed by Dr. S. Somanath, ISRO Chairman, Secretary, Department of Space (DoS), and Dr Josef Aschbacher, Director General(DG) of ESA.
The agreement establishes a framework for collaborative human space exploration and research activities in astronaut training, experiment development and integration, use of ESA facilities on the International Space Station (ISS), biomedical and human research experiments implementation, and joint outreach and education initiatives.
Both organisations are working together to implement experiments shortlisted by Indian Principal Investigators on ISS for the next Axiom-4 mission, which will include ISRO’s Gaganyatri and ESA’s astronaut as crew members. - In which event Riya Shirish Thatte has recently (in December ‘24) won a gold medal at the 67th National Shooting Championship Competitions (NSCC) in New Delhi, Delhi?
1) 25m Pistol
2) 10m Air Pistol
3) 10m Air Rifle
4) 25m Rifle
5) 50m Rifle 3 PositionsAnswer- 1) 25m Pistol
Explanation:
In December 2024, Riya Shirish Thatte from Aurangabad clinched the gold medal in her first senior national title in the women’s 25m pistol event at the 67th National Shooting Championship Competitions (NSCC) at the Dr. Karni Singh Shooting Range in New Delhi, Delhi.
She defeated Simranpreet Kaur Brar of Punjab 7-2 in a shoot-off after they had tied 2-2 at 31 hits in the eighth series of five-shot deciding. Rahi Sarnobat, a former Asian Games champion and Olympian, finished third with 25 hits.
Simranpreet won the junior women’s title to add to her senior silver. She defeated Payal of Haryana 5-2 in a shoot-off after the two had matched at 34 hits apiece. Riya’s 30-hit total earned her bronze in this category. - Which state has recently (in December ‘24) signed an MoU with Uttar Pradesh (UP) to implement the ‘Ek Bharat Shreshtha Bharat’ program in Lucknow, UP?
1) Jharkhand
2) Madhya Pradesh
3) Haryana
4) Assam
5) ManipurAnswer-5) Manipur
Explanation:
In December 2024, Uttar Pradesh (UP) and Manipur governments signed a Memorandum of Understanding (MoU) to implement the ‘Ek Bharat Shreshtha Bharat’ program in Lucknow, UP.
The program aims to enhance the interaction and promote mutual understanding between people of different states/Union Territories (UTs) through the concept of state/UT pairing.
The Uttar Pradesh Department of Tourism and Culture organized the signing ceremony in Lucknow.
The MoU between two states lasts for three years from the signing date and can be extended for another three years if both states agree.
Manipur is the third state to sign an MoU with Uttar Pradesh(UP) under the Ek Bharat Shreshtha Bharat programme after Arunachal Pradesh (AR) and Meghalaya.
On 31st October 2015, Prime Minister(PM) Narendra Modi announced the ‘Ek Bharat Shreshtha Bharat’ program to mark the 140th birth anniversary of Sardar Vallabhbhai Patel, India’s first Deputy PM and Home Minister.
The initiative aims to foster active interaction between people from diverse cultures across different States and UTs in India, with the goal of promoting greater mutual understanding among them.
Bhasha Sangam: It is an initiative by MoE aimed at teaching basic everyday sentences in 22 Indian languages, developed by the National Council of Educational Research and Training (NCERT).
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