UPSC LAW Optional

❔❔❔QUESTION❔❔❔ (Q.) Which of the following are the objectives of 'National Nutrition Mission'? 1. To create awareness relating to malnutrition among pregnant women and lactating mothers. 2. To reduce the incidence of anemia among young children, adolescent girls and women. 3. To promote the consumption of millets, coarse cereals and unpolished rice. 4. To promote the consumption of poultry eggs.

Explanation The correct answer is Neither 1 or 2. Key Points • National Infrastructure and Investment Fund (NIIF): ○ The National Infrastructure Investment Fund (NIIF) is a cooperative investment platform for foreign and Indian investors who are looking for investment possibilities in infrastructure and other high-growth industries in India. ○ It was established in accordance with the Securities and Exchange Board of India's (SEBI) Regulations as a Category II Alternate Investment Fund (AIF). ○ It was established by the Indian government in February 2015 and was the country's first infrastructure-specific investment fund. ○ The fund's entire corpus is 40 billion rupees.

❔❔❔QUESTION❔❔❔ 👇👇👇👇👇👇👇👇👇👇👇 (Q.) With reference to 'National Investment and Infrastructure Fund', which of the following statements is/are correct? 1. It is an organ of NITI Aayog. 2. It has a corpus of ` 4, 00,000 crore at present.

Explanation The correct answer is Neither 1 or 2. Key Points Tax to GDP • Decade 2001-2011: after the subprime crisis (2007–2010), a steady decline followed by a comeback. • Decade 2006-2016: There is consistent increase, with the exception of the decline from 2008 to 2010. Therefore, assertion 1 is untrue. Fiscal Deficit to GDP • Decade 2001-2011: Decline between 2009-11. • Decade 2006-2016: dropping steadily from 2011 to 2016. Therefore, assertion two is also false.

❔❔❔QUESTION❔❔❔ 👇👇👇👇👇👇👇👇👇👇👇👇 (Q.) Consider the following statements: 1. Tax revenue as a per cent of GDP of India has steadily increased in the last decade. 2. Fiscal deficit as a per cent of GDP of India has steadily increased in the last decade.

Explanation The correct answer is 2 only Explanation • The primary tenet of the Indian legal system is that "Ignorance of the law can never be a justification for the violation of law," hence a property transaction is viewed as a Benami transaction even if the owner of the property is unaware of it. Therefore, assertion 1 is untrue. • The government may confiscate any property held by Benami. • And also subject to government expropriation without payment of just compensation. Therefore, claim two is true. • The Adjudicating Authority and Appellate Tribunal have been established as an appellate process. Therefore, assertion 3 is untrue. • Up to 7 years in prison and a fine could be imposed on anyone involved in Benami transactions.

❔❔❔QUESTION❔❔❔ 👇👇👇👇👇👇👇👇👇👇👇 (Q.) With reference to the 'Prohibition of Benami Property Transactions Act, 1988 (PBPT Act)', consider the following statements: 1. A property transaction is not treated as a benami transaction if the owner of the property is not aware of the transaction. 2. Properties held benami are liable for confiscation by the Government. 3. The Act provides for three authorities for investigations but does not provide for any appellate mechanism.

Explanation The correct answer is 1 Only. Key Points Goods and Services Tax (GST) • The majority of products and services sold for domestic use are subject to the Goods and Services Tax (GST), a value-added tax. • The firms that sell the products and services are responsible for remitting the GST to the government on behalf of the consumers. • GST is a supply-side tax, which means that it applies to the "supply" of goods and services. • The GST is based on the idea of consumption taxation depending on destination. • It would replace the many taxes gathered by various authorities, resulting in the creation of a single market in India. Therefore, Statement 1 is true. • The Centre and the States both levy tax at the same time on a same base, making it a dual GST. The GST that the Center will levy is known as Central GST (CGST), while the GST that the States will levy is known as State GST (SGST). • The 122nd Constitutional Amendment Bill was the name given to the GST Bill when it was first introduced in India. • Rajya Sabha renamed this act in the law as the 101st Constitutional Amendment Act, 2016, after it received approval in 2016. • GST is unlikely to "dramatically" lower the current account deficit due to the import of crude oil and the OPEC cartel's price manipulation. Therefore, assertion 2 is untrue. • In a similar vein, the IMF's prediction of a growth rate addition of 1% to 1.5% means that the GST is unlikely to significantly expand the size of our economy. We won't be able to surpass China anytime soon since doing so would need undervaluing our currency and abusing our workforce. Therefore, assertion 3 is untrue.

❔❔❔QUESTION❔❔❔ 👇👇👇👇👇👇👇👇👇👇👇 (Q.) What is/are the most likely advantages of implementing 'Goods and Services Tax (GST)'? 1. It will replace multiple taxes collected by multiple authorities and will thus create a single market in India. 2. It will drastically reduce the 'Current Account Deficit' of India and will enable it to increase its foreign exchange reserves. 3. It will enormously increase the growth and size of economy of India and will enable it to overtake China in the near future.

[In reply to Beandbyias] Explanation The correct answer is All State Government employees joining the services after the date of notification by the respective State Governments. Key Points • The Government of India introduced the NPS (National Pension System), a defined contribution-based pension programme.Eligibility ○ The NPS is applicable to all new Central Government workers (apart from those in the Armed Forces) and Central Autonomous Bodies joining the Government on or after January 1, 2004. Therefore, statement 4 is untrue. ○ The National Pension System (NPS) is applicable to all State Government and State Autonomous Body employees who begin employment following the State Governments' respective notification dates. Therefore, statement three is true. ○ Anyone who is an Indian citizen who is between the ages of 18 and 60 on the date that their application is submitted to a Point of Presence (POP) or Point of Presence-Service Provider (POP-SP) is eligible to join NPS. Therefore, assertion 2 is untrue. ○ The National Pension Scheme (NPS) now allows NRIs to register online accounts. Therefore, assertion 1 is untrue. NPS: • NPS is regulated by the Pension Fund Regulatory and Development Authority. • National Pension System Trust (NPST) established by PFRDA • NPS was made available to all citizens of India from May 01, 2009.

❔❔❔Question❔❔❔ 👇👇👇👇👇👇👇👇👇👇 (Q.) Who among the following can join the National Pension System (NPS)? (a) Resident Indian citizens only (b) Persons of age from 21 to 55 only (c) All State Government employees joining the services after the date of notification by the respective State Governments (d) All Central Government employees including those of Armed Forces joining the services on or after 1st April, 2004

Explanation The correct answer is 1 and 2 only. Key Points • As per the RBI guidelines: ○ The goals of establishing small finance banks are to increase financial inclusion through (a) the provision of savings vehicles and (ii) the provision of credit to micro and small industries, small and marginal farmers, and other unorganised sector entities through high technology, low-cost operations. (Therefore, statements 1 and 2 are true.) ○ There is no clear clause stating that SFBS were established to promote the establishment of businesses in rural regions. (Statement 3 is therefore false.)