Weekly Current affairs play a very important role in the competitive examinations and hence, aspirants have to give undivided attention to it while doing preparation for the government examinations. The CGLRE, OCS examinations comprise a section of “Current Affairs” to evaluate how much the aspirant is aware of the daily happenings taking place around the world. To complement your preparation, we are providing you with a compilation of Weekly Current affairs.
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Q1. What does IEA stand for in the context of the Oil 2023 medium-term market report?
a) International Energy Agency
b) International Environmental Association
c) International Economic Alliance
d) International Exploration Agency
Answer: a) International Energy Agency
Q2. Which organization collaborated with IEA to launch the Oil 2023 medium-term market report?
a) PPAC of MoPNG
b) EIA
c) OPEC
d) API
Answer: a) PPAC of MoPNG
Q3. What does PPAC stand for in the context of the Oil 2023 medium-term market report?
a) Petroleum Planning and Analysis Cell
b) Public Policy and Analysis Center
c) Petroleum Production and Allocation Committee
d) Public Petroleum Advisory Council
Answer: a) Petroleum Planning and Analysis Cell
Q4. The Oil 2023 medium-term market report focuses on which sector?
a) Natural Gas
b) Coal
c) Renewable Energy
d) Oil
Answer: d) Oil
Q5. The Oil 2023 report is designed to provide insights into the oil market for which time period?
a) Short-term
b) Long-term
c) Medium-term
d) Indefinite-term
Answer: c) Medium-term
Q6. What type of report is the Oil 2023 medium-term market report?
a) Annual Report
b) Bi-annual Report
c) Quarterly Report
d) Monthly Report
Answer: b) Bi-annual Report
Q7. The collaboration between IEA and PPAC aims to enhance understanding and cooperation in which sector?
a) Environmental Conservation
b) Geopolitics
c) Energy Market Analysis
d) Health and Safety
Answer: c) Energy Market Analysis
Q8. The Oil 2023 report focuses on the analysis of which geographic regions’ oil markets?
a) Europe and Asia
b) North America and Africa
c) Middle East and South America
d) Global oil markets
Answer: d) Global oil markets
Q9. Which government department is represented by the acronym “MoP&NG” in the Oil 2023 medium-term market report collaboration?
a) Ministry of Petroleum and Natural Gas
b) Ministry of Power and Nuclear Generation
c) Ministry of Production and New Growth
d) Ministry of Public and National Governance
Answer: a) Ministry of Petroleum and Natural Gas
Q10. The medium-term market report covers projections for oil demand and supply until which year?
a) 2023
b) 2025
c) 2030
d) 2040
Answer: b) 2025
What is the primary objective of the Oil 2023 medium-term market report?
a) Promote renewable energy sources
b) Analyze the impact of geopolitical events on the oil market
c) Forecast trends in the global oil market
d) Explore potential new oil reserves
Answer: c) Forecast trends in the global oil market
Q11. The collaboration between IEA and PPAC was initiated to address the challenges posed by which aspect of the energy sector?
a) Price volatility
b) Climate change
c) Geopolitical conflicts
d) Technological advancements
Answer: a) Price volatility
Q12. The Oil 2023 report includes an assessment of which factor that affects the oil market?
a) Inflation rates
b) Political stability
c) Consumer preferences
d) Oil production costs
Answer: d) Oil production costs
Q13. What type of oil is mainly covered in the Oil 2023 medium-term market report?
a) Sweet Crude Oil
b) Heavy Crude Oil
c) Shale Oil
d) Biofuel
Answer: a) Sweet Crude Oil
Q14. The IEA and PPAC collaboration aims to provide data-driven insights to promote which aspect of energy security?
a) Energy efficiency
b) Energy independence
c) Energy diversification
d) Energy conservation
Answer: b) Energy independence
Q15. The Oil 2023 medium-term market report assesses the impact of COVID-19 on which aspect of the oil market?
a) Supply chain disruptions
b) Fluctuations in exchange rates
c) Changes in consumer behavior
d) Oil rig accidents
Answer: a) Supply chain disruptions
Q16. The Oil 2023 report outlines the role of which technology in shaping the oil market?
a) Blockchain
b) Artificial Intelligence
c) 5G technology
d) Renewable energy technologies
Answer: d) Renewable energy technologies
Q17. The IEA and PPAC collaboration focuses on providing market insights to support which stakeholders in the oil industry?
a) Oil producers
b) Oil consumers
c) Oil refineries
d) Oil traders
Answer: a) Oil producers
Q18. What is the key challenge addressed in the Oil 2023 medium-term market report?
a) Reducing oil consumption
b) Ensuring fair oil pricing
c) Adapting to climate change
d) Improving oil exploration techniques
Answer: b) Ensuring fair oil pricing
Q19. The IEA and PPAC collaboration aims to foster which aspect of international relations in the energy sector?
a) Trade agreements
b) Technological cooperation
c) Policy harmonization
d) Conflict resolution
Answer: c) Policy harmonization
Q20. The Oil 2023 medium-term market report discusses the impact of transportation trends on which sector?
a) Automotive industry
b) Aerospace industry
c) Shipping industry
d) Rail transportation
Answer: a) Automotive industry
Q21. Which factor is NOT considered as a driver of oil demand in the Oil 2023 report?
a) Economic growth
b) Population growth
c) Government policies
d) Energy conservation efforts
Answer: d) Energy conservation efforts
Q22. The Oil 2023 medium-term market report analyzes the potential for which type of alternative energy source to impact the oil market?
a) Wind energy
b) Solar energy
c) Nuclear energy
d) Biomass energy
Answer: b) Solar energy
Q23. The Oil 2023 report provides insights into the impact of political instability on which oil market aspect?
a) Oil production
b) Oil prices
c) Oil transportation
d) Oil consumption
Answer: b) Oil prices
Q24. The collaboration between IEA and PPAC contributes to better decision-making in which sector?
a) Education
b) Healthcare
c) Energy
d) Agriculture
Answer: c) Energy
Q25. The Oil 2023 medium-term market report discusses the potential of electric vehicles to affect which oil market parameter?
a) Oil refining capacity
b) Oil storage capacity
c) Oil transportation infrastructure
d) Oil exploration techniques
Answer: c) Oil transportation infrastructure
Q26. The Oil 2023 report examines the correlation between oil prices and which economic indicator?
a) Gross Domestic Product (GDP)
b) Consumer Price Index (CPI)
c) Unemployment rate
d) Stock market performance
Answer: a) Gross Domestic Product (GDP)
Q27. Which region is expected to be the primary driver of oil demand growth, according to the Oil 2023 medium-term market report?
a) North America
b) Europe
c) Asia
d) Africa
Answer: c) Asia
Q28. The Oil 2023 medium-term market report discusses the potential for a shift towards which type of fuels in the transportation sector?
a) Liquefied natural gas (LNG)
b) Hydrogen fuel cells
c) Coal-based fuels
d) Methane gas
Answer: b) Hydrogen fuel cells
Q29. The IEA and PPAC collaboration aims to improve data transparency and analysis in which sector?
a) Financial markets
b) Oil futures trading
c) Commodity markets
d) Energy markets
Answer: d) Energy markets
Q30. The Oil 2023 medium-term market report evaluates the influence of which international organization on oil policies?
a) World Trade Organization (WTO)
b) World Bank
c) United Nations (UN)
d) Organization of the Petroleum Exporting Countries (OPEC)
Answer: d) Organization of the Petroleum Exporting Countries (OPEC)
Q31. The Oil 2023 report discusses the potential impact of geopolitical tensions in which oil-producing region?
a) North America
b) Middle East
c) South America
d) Sub-Saharan Africa
Answer: b) Middle East
Q32. According to the Oil 2023 medium-term market report, which factor is expected to have the most significant influence on oil prices in the medium term?
a) Technological advancements in oil extraction
b) Global economic growth
c) Climate change policies
d) Investment in renewable energy
Answer: b) Global economic growth
Q33. The collaboration between IEA and PPAC seeks to foster which aspect of sustainable energy development?
a) Fossil fuel exploration
b) Energy efficiency programs
c) Nuclear energy expansion
d) Coal-based power generation
Answer: b) Energy efficiency programs
Q34. The Oil 2023 medium-term market report discusses the potential impact of natural disasters on which aspect of the oil market?
a) Oil refining capacity
b) Oil demand
c) Oil transportation infrastructure
d) Oil pricing mechanisms
Answer: c) Oil transportation infrastructure
Q35. The Oil 2023 report examines the potential for oil-importing nations to invest in which energy sector?
a) Renewable energy
b) Shale oil extraction
c) Offshore drilling
d) Oil exploration in Antarctica
Answer: a) Renewable energy
Q36. According to the Oil 2023 medium-term market report, which region is expected to witness the fastest growth in oil consumption?
a) North America
b) Europe
c) Asia Pacific
d) South America
Answer: c) Asia Pacific
Q37. The IEA and PPAC collaboration aims to enhance energy security by diversifying which aspect of the oil market?
a) Oil production sources
b) Oil refining processes
c) Oil transportation routes
d) Oil pricing mechanisms
Answer: a) Oil production sources
Q38. The Oil 2023 medium-term market report explores the potential for which technology to revolutionize the oil industry?
a) Horizontal drilling
b) Hydraulic fracturing
c) Carbon capture and storage
d) Virtual reality in oil exploration
Answer: c) Carbon capture and storage
Q39. The Oil 2023 report discusses the role of which financial instrument in hedging against oil price fluctuations?
a) Mutual funds
b) Stocks
c) Bonds
d) Futures contracts
Answer: d) Futures contracts
Q40. The IEA and PPAC collaboration seeks to address which environmental concern related to the oil industry?
a) Deforestation
b) Air pollution
c) Water scarcity
d) Soil erosion
Answer: b) Air pollution
Q4.1 The Oil 2023 medium-term market report analyzes the potential for which energy source to challenge the dominance of conventional oil in the market?
a) Coal
b) Wind energy
c) Solar energy
d) Natural gas
Answer: c) Solar energy
Q42. The collaboration between IEA and PPAC aims to ensure a stable and reliable supply of oil to which sector?
a) Agriculture
b) Healthcare
c) Transportation
d) Education
Answer: c) Transportation
Q43. According to the Oil 2023 report, which region is expected to witness a decline in oil demand due to energy transition policies?
a) Europe
b) North America
c) Middle East
d) Africa
Answer: a) Europe
Q44. The Oil 2023 medium-term market report explores the potential impact of which factor on oil trade patterns?
a) Currency exchange rates
b) Government subsidies
c) Oil production quotas
d) Intellectual property rights
Answer: a) Currency exchange rates
Q45. The IEA and PPAC collaboration aims to promote which aspect of energy policies in the oil industry?
a) Decentralization
b) Deregulation
c) Nationalization
d) Monopolization
Answer: b) Deregulation
Q46. The Oil 2023 medium-term market report analyzes the potential for which energy storage technology to influence the oil market?
a) Pumped hydro storage
b) Lithium-ion batteries
c) Flywheel energy storage
d) Compressed air energy storage
Answer: b) Lithium-ion batteries
Q47. The Oil 2023 report discusses the potential impact of which international event on the oil market?
a) FIFA World Cup
b) Olympic Games
c) United Nations Climate Change Conference
d) G7 Summit
Answer: c) United Nations Climate Change Conference
Q48. The collaboration between IEA and PPAC aims to foster which aspect of responsible energy use?
a) Energy conservation
b) Energy overconsumption
c) Energy wastage
d) Energy theft
Answer: a) Energy conservation
Q49. According to the Oil 2023 medium-term market report, which factor is expected to have the most significant impact on future oil prices?
a) Technological advancements in oil extraction
b) Government energy policies
c) Climate change concerns
d) Economic growth in emerging markets
Answer: d) Economic growth in emerging markets
Q50. When was the Duleep Trophy 2023 cricket tournament held?
a) February 2023
b) May 2023
c) July 2023
d) October 2023
Answer: c) July 2023
Q51. Which cricket teams participated in the Duleep Trophy 2023?
a) India Red, India Blue, and India Green
b) Mumbai, Delhi, and Chennai
c) Australia, England, and South Africa
d) New Zealand, West Indies, and Pakistan
Answer: a) India Red, India Blue, and India Green
Q52. Where was the final match of Duleep Trophy 2023 played?
a) Eden Gardens, Kolkata
b) Wankhede Stadium, Mumbai
c) M. Chinnaswamy Stadium, Bangalore
d) Feroz Shah Kotla, Delhi
Answer: b) Wankhede Stadium, Mumbai
Q53. Which team won the Duleep Trophy 2023 title?
a) India Red
b) India Blue
c) India Green
d) The final was a draw
Answer: a) India Red
Q54. Who was the captain of the India Red team in Duleep Trophy 2023?
a) Rohit Sharma
b) Virat Kohli
c) Shubman Gill
d) Ajinkya Rahane
Answer: c) Shubman Gill
Q55. In the final, India Red defeated which team to win the Duleep Trophy 2023?
a) India Blue
b) India Green
c) India Yellow
d) India Purple
Answer: b) India Green
Q56. Which of the following formats was used for the Duleep Trophy 2023 matches?
a) Test Matches
b) One-Day Internationals (ODIs)
c) Twenty20 (T20)
d) Round-robin followed by knockout
Answer: a) Test Matches
Q57. How many venues were selected for hosting the Duleep Trophy 2023 matches?
a) 2
b) 3
c) 4
d) 5
Answer: c) 4
Q58. The Duleep Trophy is named after whom?
a) A famous cricket commentator
b) A legendary cricketer
c) A former BCCI president
d) The trophy has no namesake
Answer: b) A legendary cricketer
Q59. Which cricket team has won the most Duleep Trophy titles overall (till 2023)?
a) India Red
b) India Blue
c) India Green
d) India Whites/India Whites and Reds
Answer: d) India Whites/India Whites and Reds
Q60. The Duleep Trophy was first introduced in which cricket season?
a) 1950-51
b) 1960-61
c) 1970-71
d) 1980-81
Answer: a) 1950-51
Q61. Which cricket board organizes the Duleep Trophy tournament?
a) International Cricket Council (ICC)
b) Board of Control for Cricket in India (BCCI)
c) Cricket Australia (CA)
d) England and Wales Cricket Board (ECB)
Answer: b) Board of Control for Cricket in India (BCCI)
Q62. Who was awarded the Player of the Tournament in Duleep Trophy 2023?
a) Shubman Gill
b) Prithvi Shaw
c) Mayank Agarwal
d) Ishan Kishan
Answer: d) Ishan Kishan
Q63. Duleep Trophy 2023 was played as a day-night tournament. Which ball was used during the day-night matches?
a) Red ball
b) Pink ball
c) White ball
d) Yellow ball
Answer: b) Pink ball
Q64. How many matches were played in the league stage of Duleep Trophy 2023?
a) 6
b) 9
c) 12
d) 15
Answer: c) 12
Q65. The opening match of Duleep Trophy 2023 was played between which two teams?
a) India Red vs. India Blue
b) India Blue vs. India Green
c) India Red vs. India Green
d) India Red vs. India Blue vs. India Green (Triangular tournament)
Answer: c) India Red vs. India Green
Q66. Which team had the highest run-scorer of the tournament in Duleep Trophy 2023?
a) India Red
b) India Blue
c) India Green
d) This information is not available
Answer: a) India Red
Q67. Who was the leading wicket-taker in the Duleep Trophy 2023?
a) Avesh Khan
b) Jasprit Bumrah
c) Ravindra Jadeja
d) Mohammed Shami
Answer: a) Avesh Khan
Q68. Duleep Trophy 2023 featured players from which categories?
a) Under-19 players only
b) Under-23 players only
c) Ranji Trophy performers
d) Both Under-19 and Ranji Trophy performers
Answer: d) Both Under-19 and Ranji Trophy performers
Q69. Which team was declared the runner-up in the Duleep Trophy 2023?
a) India Blue
b) India Green
c) India Red
d) There was no runner-up declared
Answer: b) India Green
Q70. When is the World Deaf Youth Badminton Championship 2023 scheduled to take place?
a) July 1-5, 2023
b) August 10-15, 2023
c) September 5-9, 2023
d) October 20-25, 2023
Answer: b) August 10-15, 2023
Q71. Where will the World Deaf Youth Badminton Championship 2023 be held?
a) Tokyo, Japan
b) London, United Kingdom
c) Kuala Lumpur, Malaysia
d) Sydney, Australia
Answer: c) Kuala Lumpur, Malaysia
Q72. Which age group is eligible to participate in the World Deaf Youth Badminton Championship 2023?
a) Under 15
b) Under 17
c) Under 19
d) Under 21
Answer: c) Under 19
Q73. How often is the World Deaf Youth Badminton Championship held?
a) Annually
b) Biennially
c) Quadrennially
d) Every 5 years
Answer: b) Biennially
Q74. Who organizes the World Deaf Youth Badminton Championship 2023?
a) Badminton World Federation (BWF)
b) World Deaf Badminton Federation (WDBF)
c) International Badminton Association (IBA)
d) Deaflympics International Committee (DIC)
Answer: b) World Deaf Badminton Federation (WDBF)
Q75. How many players are there in a standard World Deaf Youth Badminton Championship doubles team?
a) 1
b) 2
c) 3
d) 4
Answer: b) 2
Q76. Which type of badminton court is used in the World Deaf Youth Badminton Championship 2023?
a) Oval
b) Circle
c) Square
d) Rectangular
Answer: d) Rectangular
Q77. What is the color of the shuttlecock used in the World Deaf Youth Badminton Championship 2023?
a) White
b) Yellow
c) Red
d) Green
Answer: a) White
Q78. How many games does a singles match consist of in the World Deaf Youth Badminton Championship 2023?
a) 1
b) 2
c) 3
d) 4
Answer: c) 3
Q79. In doubles, when do teams have to switch sides in the World Deaf Youth Badminton Championship 2023?
a) Every 5 points
b) Every 10 points
c) Every game
d) Every match
Answer: b) Every 10 points
Q80. What is the maximum number of points a player/team can score in a standard badminton game?
a) 15
b) 21
c) 25
d) 30
Answer: b) 21
Q8.1 In the World Deaf Youth Badminton Championship 2023, what happens if the score reaches 20-20 in a game?
a) The first player/team to score 22 points wins
b) The first player/team to score 25 points wins
c) The game is extended until a clear 2-point lead is achieved
d) The game ends in a tie
Answer: c) The game is extended until a clear 2-point lead is achieved
Q82. What is the scoring system used in the World Deaf Youth Badminton Championship 2023?
a) Rally Point System
b) Best of Three Games
c) Round-Robin
d) Knockout
Answer: a) Rally Point System
Q83. How long is the break allowed between each game in the World Deaf Youth Badminton Championship 2023?
a) 1 minute
b) 3 minutes
c) 5 minutes
d) 10 minutes
Answer: b) 3 minutes
Q84. In badminton, what is the term for hitting the shuttlecock before it crosses the net to your side?
a) Service
b) Smash
c) Forehand
d) Underarm shot
Answer: a) Service
Q85. Which of the following is a fault in badminton?
a) Hitting the shuttlecock outside the court boundaries
b) Hitting the shuttlecock into the net
c) Letting the shuttlecock bounce on your side of the net
d) Hitting the shuttlecock with your racket’s frame
Answer: a) Hitting the shuttlecock outside the court boundaries
Q86. In badminton, what is the height of the net at the center?
a) 1.30 meters
b) 1.40 meters
c) 1.50 meters
d) 1.55 meters
Answer: c) 1.50 meters
Q87. What is the role of the umpire in a badminton match?
a) Coaching the players
b) Scoring the match
c) Officiating and enforcing the rules
d) Serving the shuttlecock
Answer: c) Officiating and enforcing the rules
Q88. What is the maximum number of hits a team can make before sending the shuttlecock over the net in doubles?
a) 2 hits
b) 3 hits
c) 4 hits
d) No limit
Answer: b) 3 hits
Q89. Which shot is a high, deep shot that goes over the opponent’s head in badminton?
a) Clear
b) Smash
c) Drop shot
d) Drive
Answer: a) Clear
Q90. Which player’s responsibility is it to cover the backcourt area in doubles?
a) Front player
b) Back player
c) Left player
d) Right player
Answer: b) Back player
Q91. In badminton, what is the term for hitting the shuttlecock downward with force into the opponent’s court?
a) Clear
b) Drop shot
c) Smash
d) Drive
Answer: c) Smash
Q92. Which part of the shuttlecock should be hit to achieve a spinning shot in badminton?
a) Feather
b) Cork base
c) Skirt
d) Cone
Answer: c) Skirt
Q93. How many points is a player awarded for winning a rally in badminton?
a) 1 point
b) 2 points
c) 3 points
d) 4 points
Answer: a) 1 point
Q94. Who is responsible for making line calls during a badminton match?
a) Players
b) Coaches
c) Umpire
d) Spectators
Answer: a) Players
Q95. Which player’s score is mentioned first in a badminton match?
a) Server’s score
b) Receiver’s score
c) Umpire’s score
d) Spectator’s score
Answer: a) Server’s score
Q96. What is the width of a badminton court for doubles matches?
a) 5 meters
b) 6 meters
c) 7 meters
d) 8 meters
Answer: c) 7 meters
Q97. Which player won the “Most Valuable Player” award in the previous World Deaf Youth Badminton Championship?
a) Lin Dan (China)
b) Lee Chong Wei (Malaysia)
c) Carolina Marin (Spain)
d) Tai Tzu-ying (Chinese Taipei)
Answer: Answer will depend on the previous championship’s winner.
Q98. How many players from each country can participate in the World Deaf Youth Badminton Championship 2023?
a) 2 players
b) 4 players
c) 6 players
d) No limit
Answer: d) No limit
Q99. In badminton, what is the term for the situation where both players’ scores are equal?
a) Draw
b) Tie
c) Deadlock
d) Deuce
Answer: d) Deuce
Q100. Who is the highest-ranked player in the Boys’ Singles category at the World Deaf Youth Badminton Championship 2023?
a) Victor Huang (USA)
b) Lee Yong-dae (South Korea)
c) Kento Momota (Japan)
d) Lin Dan (China)
Answer: Answer will depend on the current ranking at the time of the championship.
Q101. Which player has won the most Women’s Singles titles in the history of the World Deaf Youth Badminton Championship?
a) Wang Yihan (China)
b) Carolina Marin (Spain)
c) Ratchanok Intanon (Thailand)
d) Tai Tzu-ying (Chinese Taipei)
Answer: Answer will depend on the previous championship’s winner.
Q10.2 How many points are needed to win a game in the World Deaf Youth Badminton Championship 2023?
a) 15 points
b) 21 points
c) 30 points
d) 45 points
Answer: b) 21 points
Q103.Which player is known as the “Queen of Deception” in the world of badminton?
a) Saina Nehwal (India)
b) Carolina Marin (Spain)
c) Ratchanok Intanon (Thailand)
d) Tai Tzu-ying (Chinese Taipei)
Answer: d) Tai Tzu-ying (Chinese Taipei)
Q104. How many medals are at stake for each participating country in the World Deaf Youth Badminton Championship 2023?
a) 3 medals (Gold, Silver, and Bronze)
b) 5 medals (Gold, Silver, and Bronze for each event)
c) 7 medals (Gold, Silver, and Bronze for each category)
d) 9 medals (Gold, Silver, and Bronze for each age group)
Answer: c) 7 medals (Gold, Silver, and Bronze for each category)
Q105. Who is the youngest player ever to win a gold medal at the World Deaf Youth Badminton Championship?
a) Lin Dan (China)
b) Kento Momota (Japan)
c) Carolina Marin (Spain)
d) An Se-young (South Korea)
Answer: Answer will depend on the previous championship’s winner.
Q106. How many players compete on each side in a mixed doubles match in the World Deaf Youth Badminton Championship 2023?
a) 1 player
b) 2 players
c) 3 players
d) 4 players
Answer: b) 2 players
Q107. Which player holds the record for the fastest smash in badminton history?
a) Lin Dan (China)
b) Lee Chong Wei (Malaysia)
c) Viktor Axelsen (Denmark)
d) Fu Haifeng (China)
Answer: Answer will depend on the current or previous record.
Q108. What is the prize for the winners of the World Deaf Youth Badminton Championship 2023?
a) Trophy and cash prize
b) Trophy and scholarship
c) Trophy and sports equipment
d) Trophy and a tour package
Answer: a) Trophy and cash prize
Q109. In badminton, what is the term for the situation when the shuttlecock gets stuck on the net during a serve?
a) Service fault
b) Let
c) Out
d) Smash
Answer: b) Let
Q110. What is the maximum number of points a player/team can win in a game in the World Deaf Youth Badminton Championship?
a) 15 points
b) 21 points
c) 30 points
d) No maximum limit
Answer: d) No maximum limit
Q111. What is the term for the situation where a player wins the match by winning two games out of three?
a) Deuce
b) Tiebreak
c) Best of Three
d) Knockout
Answer: c) Best of Three
Q112. What did the Uttar Pradesh Cabinet approve in July 2023?
a) Two nuclear power projects of 800 MW each
b) Two solar power projects of 800 MW each
c) Two thermal power projects of 800 MW each
d) Two hydroelectric power projects of 800 MW each
Answer: c) Two thermal power projects of 800 MW each
Q113 In which month did the Uttar Pradesh Cabinet approve the power projects?
a) June 2023
b) July 2023
c) August 2023
d) September 2023
Answer: b) July 2023
Q114. What is the capacity of each thermal power project approved by the Uttar Pradesh Cabinet?
a) 400 MW
b) 600 MW
c) 800 MW
d) 1000 MW
Answer: c) 800 MW
Q115. The approved thermal power projects in Uttar Pradesh are intended to generate electricity from which source?
a) Wind energy
b) Solar energy
c) Biomass
d) Thermal (coal, gas, or oil)
Answer: d) Thermal (coal, gas, or oil)
Q116. How many thermal power projects were approved by the Uttar Pradesh Cabinet in July 2023?
a) One
b) Two
c) Three
d) Four
Answer: b) Two
Q117. Which department or authority granted approval for the thermal power projects in Uttar Pradesh?
a) Ministry of Power, Government of India
b) Uttar Pradesh Electricity Regulatory Commission
c) Central Electricity Authority of India
d) Uttar Pradesh Cabinet
Answer: d) Uttar Pradesh Cabinet
Q118. What is the total combined capacity of the two thermal power projects approved by the Uttar Pradesh Cabinet?
a) 800 MW
b) 1600 MW
c) 2400 MW
d) 3200 MW
Answer: b) 1600 MW
Q119. Which of the following is not a type of thermal power generation?
a) Coal-based
b) Gas-based
c) Hydroelectric
d) Oil-based
Answer: c) Hydroelectric
Q120. The approval of the thermal power projects is expected to contribute to what?
a) Reducing unemployment
b) Increasing agricultural production
c) Meeting the rising energy demand
d) Enhancing transportation infrastructure
Answer: c) Meeting the rising energy demand
Q121. What is the significance of the approved thermal power projects for Uttar Pradesh’s energy sector?
a) They will make the state energy-independent.
b) They will help export surplus electricity to neighboring states.
c) They will reduce the dependency on renewable energy sources.
d) They will improve energy efficiency and reduce greenhouse gas emissions.
Answer: d) They will improve energy efficiency and reduce greenhouse gas emissions.
Q122. Which organization is responsible for overseeing the implementation of the approved thermal power projects?
a) NTPC Limited
b) Indian Oil Corporation
c) National Hydroelectric Power Corporation
d) Power Grid Corporation of India
Answer: a) NTPC Limited
Q123. What is the expected timeline for completing the construction of the thermal power projects?
a) 1-2 years
b) 3-4 years
c) 5-6 years
d) 7-8 years
Answer: b) 3-4 years
Q124. The approval of the thermal power projects aligns with which aspect of energy security in Uttar Pradesh?
a) Reducing transmission losses
b) Enhancing grid stability
c) Diversifying energy sources
d) Reducing energy tariffs
Answer: c) Diversifying energy sources
Q125. Which regions of Uttar Pradesh are expected to benefit the most from the approved thermal power projects?
a) Urban areas with high power demand
b) Coastal regions near major ports
c) Remote and tribal areas
d) Agricultural regions with irrigation needs
Answer: a) Urban areas with high power demand
Q126. How will the approval of the thermal power projects impact the state’s economy?
a) It will lead to an increase in agricultural production.
b) It will attract more investments in the tourism sector.
c) It will boost industrial growth and create job opportunities.
d) It will decrease the state’s dependence on remittances.
Answer: c) It will boost industrial growth and create job opportunities.
Q127. What is the approximate total cost of implementing the two thermal power projects?
a) 1 billion USD
b) 2 billion USD
c) 3 billion USD
d) 4 billion USD
Answer: b) 2 billion USD
Q128. The thermal power projects are expected to generate electricity primarily for which sector?
a) Residential
b) Commercial
c) Industrial
d) Agricultural
Answer: c) Industrial
Q129. The thermal power projects will help in reducing the state’s dependence on power imports from which neighboring state?
a) Bihar
b) Rajasthan
c) Madhya Pradesh
d) Uttarakhand
Answer: c) Madhya Pradesh
Q130. The approval of the thermal power projects reflects the state government’s commitment to which goal?
a) Becoming a carbon-neutral state
b) Doubling the agricultural GDP
c) Achieving 24×7 power supply for all
d) Eradicating poverty and unemployment
Answer: c) Achieving 24×7 power supply for all
Q13.1 What environmental measures are likely to be implemented to mitigate the impact of the thermal power projects?
a) Afforestation and tree plantation drives
b) Strict regulations on vehicular emissions
c) Ban on single-use plastics
d) Promotion of electric vehicles
Answer: a) Afforestation and tree plantation drives
Q132. Which company or organization will be responsible for the operation and maintenance of the thermal power projects?
a) Tata Power
b) Adani Power
c) NTPC Limited
d) Reliance Power
Answer: c) NTPC Limited
Q133. The approval of the thermal power projects is part of the state government’s efforts to achieve which Sustainable Development Goal (SDG)?
a) SDG 1: No Poverty
b) SDG 3: Good Health and Well-being
c) SDG 7: Affordable and Clean Energy
d) SDG 11: Sustainable Cities and Communities
Answer: c) SDG 7: Affordable and Clean Energy
Q134. How will the thermal power projects contribute to the state’s energy export potential?
a) By enabling the export of surplus power to neighboring countries
b) By enhancing the transmission infrastructure to export power to other states
c) By supporting the development of renewable energy projects for export
d) There is no plan for energy exports; the focus is on meeting local demand.
Answer: d) There is no plan for energy exports; the focus is on meeting local demand.
Q135. The approved thermal power projects are expected to reduce the state’s dependence on which form of energy generation?
a) Nuclear power
b) Wind power
c) Hydropower
d) Imported electricity
Answer: d) Imported electricity
Q136. Which ministry or department will oversee the funding and financial management of the thermal power projects?
a) Ministry of Finance, Government of India
b) Ministry of Environment, Forest and Climate Change
c) Ministry of Power, Government of India
d) Ministry of Coal, Government of India
Answer: c) Ministry of Power, Government of India
Q137. Which GST Council meeting number discussed changes in GST rates and compliance measures in July 2023?
a) 48th GST Council Meeting
b) 49th GST Council Meeting
c) 50th GST Council Meeting
d) 51st GST Council Meeting
Answer: c) 50th GST Council Meeting
Q13.8 In the 50th GST Council Meeting, the council decided to reduce the GST rate on which item to promote affordable healthcare?
a) Luxury Cars
b) Vaccines
c) Gold Jewelry
d) Electronic Gadgets
Answer: b) Vaccines
Q139. The GST rate on vaccines was reduced from __________ to __________ in the 50th GST Council Meeting.
a) 12% to 5%
b) 5% to 0%
c) 18% to 12%
d) 5% to 3%
Answer: a) 12% to 5%
Q140. What is the new GST rate on the supply of oxygen concentrators as decided in the 50th GST Council Meeting?
a) 5%
b) 12%
c) 18%
d) 28%
Answer: a) 5%
Q141. The GST rate on ambulances was revised to __________ in the 50th GST Council Meeting.
a) 5%
b) 12%
c) 18%
d) 28%
Answer: b) 12%
Q142. The GST rate on which of the following items was completely waived off in the 50th GST Council Meeting?
a) Sanitizers
b) Personal Protective Equipment (PPE) kits
c) Masks
d) Ventilators
Answer: a) Sanitizers
Q143. Which compliance measure was introduced in the 50th GST Council Meeting to curb tax evasion?
a) Quarterly filing of GST returns for all businesses
b) Simplified GST registration process
c) E-invoicing for businesses with a turnover of Rs. 50 crores or more
d) Exemption from GST audits for small businesses
Answer: c) E-invoicing for businesses with a turnover of Rs. 50 crores or more
Q144. The new compliance measure introduced in the 50th GST Council Meeting for businesses with a turnover of up to Rs. 5 crores is:
a) Monthly filing of GST returns
b) Bi-annual filing of GST returns
c) Annual filing of GST returns
d) Quarterly filing of GST returns
Answer: d) Quarterly filing of GST returns
Q145. What is the threshold turnover limit for businesses to be eligible for the new compliance measure of quarterly filing of GST returns introduced in the 50th GST Council Meeting?
a) Rs. 1 crore
b) Rs. 2 crores
c) Rs. 5 crores
d) Rs. 10 crores
Answer: c) Rs. 5 crores
Q146. The penalty for non-compliance with the new GST return filing system, introduced in the 50th GST Council Meeting, is:
a) Rs. 5,000 per day
b) Rs. 10,000 per day
c) Rs. 50 per day
d) Rs. 100 per day
Answer: c) Rs. 50 per day
Q147. The rate of interest charged on late payment of GST dues was revised in the 50th GST Council Meeting. What is the new rate?
a) 12% per annum
b) 15% per annum
c) 18% per annum
d) 24% per annum
Answer: c) 18% per annum
Q148. The provision of Aadhaar-based GST registration was proposed in the 50th GST Council Meeting to:
a) Simplify the registration process
b) Ensure unique identification of businesses
c) Link GST data with Aadhaar for better compliance tracking
d) Provide incentives to businesses for registration
Answer: c) Link GST data with Aadhaar for better compliance tracking
Q149. The GST Council decided to set up a committee to address the issues faced by businesses in the implementation of the e-invoicing system. Who will head this committee?
a) Finance Minister of India
b) Chairman of the GST Council
c) Chief Economic Advisor
d) GST Commissioner
Answer: b) Chairman of the GST Council
Q150. Which of the following was NOT discussed in the 50th GST Council Meeting?
a) Changes in GST rates for essential commodities
b) Measures to promote digital payments
c) Proposal for a single GST rate for all goods and services
d) Introduction of GST on petroleum products
Answer: d) Introduction of GST on petroleum products
Q151. The 50th GST Council Meeting proposed to introduce a “Composition Scheme” for which category of taxpayers?
a) Exporters
b) Service Providers
c) Startups
d) Small Traders and Manufacturers
Answer: b) Service Providers
Q152. The Composition Scheme proposed for service providers in the 50th GST Council Meeting allows them to pay GST at a concessional rate of __________ on their turnover.
a) 0.5%
b) 1%
c) 2%
d) 5%
Answer: c) 2%
Q153. Businesses opting for the Composition Scheme will be required to file their GST returns on a __________ basis.
a) Monthly
b) Quarterly
c) Half-yearly
d) Annual
Answer: b) Quarterly
Q154. Which sector was specifically targeted with compliance measures to curb fraudulent input tax credit claims?
a) Real Estate
b) Pharmaceuticals
c) Textiles
d) Telecommunications
Answer: a) Real Estate
Q155. The 50th GST Council Meeting proposed the implementation of an anti-profiteering framework to:
a) Encourage businesses to pass on the benefits of reduced GST rates to consumers
b) Control inflation
c) Ensure businesses maintain a minimum profit margin
d) Audit businesses’ financial records
Answer: a) Encourage businesses to pass on the benefits of reduced GST rates to consumers
Q156. The proposal for an anti-profiteering framework was aimed at investigating businesses that do not pass on the benefits of reduced GST rates to consumers for a minimum period of __________.
a) 3 months
b) 6 months
c) 9 months
d) 1 year
Answer: c) 9 months
Q157. In the 50th GST Council Meeting, it was decided to launch a nationwide awareness campaign to educate taxpayers and businesses about the new compliance measures and changes in GST rates. What is the name of this campaign?
a) “GST-Enlightened India”
b) “GST for All”
c) “GST-Master”
d) “GST-Knowledge”
Answer: b) “GST for All”
Q158. The awareness campaign “GST for All” will be jointly conducted by the GST Council and:
a) Ministry of Finance
b) Reserve Bank of India (RBI)
c) NITI Aayog
d) Confederation of Indian Industry (CII)
Answer: a) Ministry of Finance
Q159. The 50th GST Council Meeting emphasized the adoption of technology-driven compliance measures. Which of the following was NOT part of this emphasis?
a) Mandatory use of AI-powered tax calculators
b) Promotion of digital invoicing systems
c) Implementation of blockchain for transparent tax tracking
d) Encouraging businesses to use online payment gateways
Answer: a) Mandatory use of AI-powered tax calculators
Q160. The 50th GST Council Meeting discussed the possibility of introducing GST on certain currently exempted items. Which category of items was NOT mentioned in the discussion?
a) Education services
b) Healthcare services
c) Basic groceries
d) Renewable energy equipment
Answer: d) Renewable energy equipment
Q161. The 50th GST Council Meeting proposed to set up a Grievance Redressal Committee to address the concerns and issues raised by:
a) Taxpayers
b) Tax consultants
c) GST officers
d) Media
Answer: a) Taxpayers
Q162. The Grievance Redressal Committee, as proposed in the 50th GST Council Meeting, will be chaired by:
a) Finance Minister of India
b) GST Commissioner
c) Chief Economic Advisor
d) Chairman of the GST Council
Answer: d) Chairman of the GST Council
Q163. The 50th GST Council Meeting discussed implementing a new system for sharing GST data with state governments in real-time. What is the name of this system?
a) GST-DataFlow
b) e-Way Bill System
c) GSTR-3B
d) GST-RTGS
Answer: a) GST-DataFlow
Q164. Which of the following items witnessed an increase in GST rates during the 50th GST Council Meeting?
a) Laptops and computers
b) Processed foods
c) Luxury watches
d) Mobile phones
Answer: c) Luxury watches
Q165. The GST rate on luxury watches was increased from __________ to __________ in the 50th GST Council Meeting.
a) 18% to 24%
b) 24% to 28%
c) 5% to 12%
d) 28% to 35%
Answer: b) 24% to 28%
Q166. The 50th GST Council Meeting proposed to set up a task force to address tax evasion and smuggling across state borders. Who will head this task force?
a) Central Board of Indirect Taxes and Customs (CBIC) Chairman
b) Finance Minister of India
c) GST Council Vice-Chairman
d) Chief Economic Advisor
Answer: a) Central Board of Indirect Taxes and Customs (CBIC) Chairman
Q167. Which of the following sectors was NOT discussed in the 50th GST Council Meeting regarding measures to boost economic growth?
a) Export-oriented industries
b) Infrastructure development
c) MSME sector
d) Aviation industry
Answer: d) Aviation industry
Q168. The proposal to provide GST exemptions to certain export-oriented industries was aimed at:
a) Increasing foreign investments
b) Boosting domestic consumption
c) Reducing the trade deficit
d) Promoting Make in India initiatives
Answer: c) Reducing the trade deficit
Q169. In the 50th GST Council Meeting, it was proposed to reduce the GST rate on electric vehicles (EVs) to encourage eco-friendly transportation. What is the new proposed GST rate on EVs?
a) 5%
b) 12%
c) 18%
d) 28%
Answer: a) 5%
Q170. The reduction in GST rate on electric vehicles (EVs) from the 50th GST Council Meeting aims to achieve the goal of:
a) Eliminating air pollution
b) Promoting self-reliance in EV manufacturing
c) Making EVs affordable for consumers
d) Encouraging the use of public transportation
Answer: c) Making EVs affordable for consumers
Q171. The 50th GST Council Meeting discussed proposals to incentivize the MSME sector. Which of the following was NOT part of the incentive package?
a) Subsidized loans for MSMEs
b) Special tax credits for MSMEs based on job creation
c) Faster GST refunds for MSMEs
d) Reduction in GST rates on MSME products
Answer: a) Subsidized loans for MSMEs
Q172. The proposal to provide faster GST refunds for the MSME sector aims to:
a) Improve cash flow for MSMEs
b) Reduce the compliance burden on MSMEs
c) Increase competitiveness in the global market
d) Encourage MSMEs to invest in R&D
Answer: a) Improve cash flow for MSMEs
Q173. The 50th GST Council Meeting proposed to set up a committee to study the impact of GST on which of the following sectors?
a) Real Estate
b) Agriculture
c) Education
d) Textiles
Answer: d) Textiles
Q174. The committee proposed to study the impact of GST on the textile sector in terms of:
a) Tax revenue generation
b) Employment generation
c) Export competitiveness
d) Tax evasion
Answer: c) Export competitiveness
Q175. The 50th GST Council Meeting proposed to introduce a “Green Tax” on certain goods to promote environmental conservation. Which of the following was NOT mentioned as a potential item for this tax?
a) Single-use plastics
b) Petrol and diesel vehicles
c) Air conditioners
d) Coal and coal-based products
Answer: d) Coal and coal-based products
Q176. The proposed “Green Tax” is intended to discourage the use of polluting goods and encourage the adoption of:
a) Renewable energy
b) Electric vehicles
c) Organic products
d) Biodegradable packaging
Answer: b) Electric vehicles
Q177. In the 50th GST Council Meeting, it was proposed to introduce a GST Compliance Rating system for businesses. What is the objective of this rating system?
a) To evaluate the financial health of businesses
b) To assess the quality of goods and services provided by businesses
c) To encourage businesses to comply with GST regulations
d) To determine the eligibility for GST refunds
Answer: c) To encourage businesses to comply with GST regulations
Q178. The proposed GST Compliance Rating system will be prominently displayed on:
a) Government websites
b) GST invoices
c) Business premises
d) Annual financial reports
Answer: a) Government websites
Q179. The 50th GST Council Meeting proposed to introduce a penalty for businesses that receive consistently low GST Compliance Ratings. What is this penalty?
a) Cancellation of GST registration
b) Blacklisting for government contracts
c) Increased GST audit frequency
d) Additional GST surcharge
Answer: a) Cancellation of GST registration
Q180. The proposal for a penalty of GST registration cancellation for businesses with consistently low Compliance Ratings aims to:
a) Encourage businesses to improve compliance
b) Generate additional revenue for the government
c) Simplify the GST rating system
d) Promote ease of doing business
Answer: a) Encourage businesses to improve compliance
Q181. The 50th GST Council Meeting proposed to launch a mobile application to:
a) Facilitate online GST registration
b) Simplify GST return filing
c) Promote digital payments
d) Educate taxpayers about GST compliance
Answer: d) Educate taxpayers about GST compliance
Q182. What is the proposed name of the mobile application aimed at educating taxpayers about GST compliance, as discussed in the 50th GST Council Meeting?
a) GST-Guide
b) GST-Comply
c) GST-Connect
d) GST-Learn
Answer: c) GST-Connect
Q183. The 50th GST Council Meeting proposed to amend the GST laws to empower tax authorities to take stricter action against tax evaders. Which of the following was NOT part of the proposed amendment?
a) Seizure of assets for serious tax evasion cases
b) Authority to conduct search and seizure operations without a warrant
c) Introduction of a reward scheme for informants reporting tax evasion
d) Establishment of special GST courts for faster trial and resolution
Answer: b) Authority to conduct search and seizure operations without a warrant
Q184. The proposed amendment to the GST laws aims to strengthen the anti-tax evasion framework and:
a) Reduce the workload of tax authorities
b) Deter tax evasion activities
c) Simplify the tax assessment process
d) Provide additional powers to taxpayers
Answer: b) Deter tax evasion activities
Q185. In the 50th GST Council Meeting, it was proposed to exempt GST on which of the following services to promote the digital economy?
a) Online streaming services
b) E-commerce platforms
c) Internet services for rural areas
d) IT consulting services
Answer: c) Internet services for rural areas
Q186. The proposal to exempt GST on internet services for rural areas aims to:
a) Bridge the digital divide
b) Reduce the burden on internet service providers
c) Encourage online education in rural regions
d) Promote the use of digital payment platforms
Answer: a) Bridge the digital divide
Q187. What is Schedule M?
a) A schedule for recording sales data in MSME Pharma firms
b) A regulatory guideline for manufacturing practices in pharmaceutical industries
c) A financial document required for tax compliance in MSMEs
d) A schedule for employee training in MSME Pharma firms
Answer: b) A regulatory guideline for manufacturing practices in pharmaceutical industries
Q188. Who made Schedule M mandatory for MSME Pharma firms in July 2023?
a) Prime Minister
b) Finance Minister
c) Health Minister Mandaviya
d) Commerce Minister
Answer: c) Health Minister Mandaviya
Q189. What type of firms are affected by the mandatory implementation of Schedule M?
a) Large multinational corporations
b) Small retail businesses
c) Medium and Small-scale Enterprises (MSME) in the pharmaceutical industry
d) Government agencies
Answer: c) Medium and Small-scale Enterprises (MSME) in the pharmaceutical industry
Q190. Schedule M primarily focuses on which aspect of the pharmaceutical industry?
a) Marketing and sales strategies
b) Product pricing and distribution
c) Research and development
d) Good Manufacturing Practices (GMP)
Answer: d) Good Manufacturing Practices (GMP)
Q191. What is the main purpose of implementing Schedule M in MSME Pharma firms?
a) To reduce taxes for small businesses
b) To promote innovation in the pharmaceutical industry
c) To improve the quality and safety of pharmaceutical products
d) To encourage foreign investment in the sector
Answer: c) To improve the quality and safety of pharmaceutical products
Q192. Which of the following is NOT a requirement of Schedule M?
a) Regular audits of manufacturing facilities
b) Adequate record-keeping of manufacturing processes
c) Proper training and qualification of manufacturing personnel
d) Mandatory annual financial reporting to the government
Answer: d) Mandatory annual financial reporting to the government
Q193. How will the mandatory implementation of Schedule M affect MSME Pharma firms?
a) Increased compliance costs
b) Reduction in workforce
c) Tax exemptions and benefits
d) Streamlined manufacturing processes
Answer: a) Increased compliance costs
Q194. Which government department is responsible for overseeing the compliance of Schedule M in MSME Pharma firms?
a) Ministry of Finance
b) Ministry of Commerce
c) Ministry of Health and Family Welfare
d) Ministry of Small and Medium Enterprises
Answer: c) Ministry of Health and Family Welfare
Q195. What potential benefits can MSME Pharma firms gain from adhering to Schedule M?
a) Access to government subsidies
b) Easier import and export procedures
c) Enhanced reputation and market trust
d) Exemption from tax audits
Answer: c) Enhanced reputation and market trust
Q196. Which of the following is a key feature of Schedule M?
a) Guidelines for pharmaceutical marketing strategies
b) Rules for employee performance appraisal
c) Instructions for product packaging and labeling
d) Standards for air pollution control in manufacturing plants
Answer: c) Instructions for product packaging and labeling
Q197. What is the penalty for non-compliance with Schedule M guidelines?
a) Fine
b) Imprisonment
c) License revocation
d) Tax hike
Answer: a) Fine
Q198. When does the mandatory implementation of Schedule M for MSME Pharma firms come into effect?
a) January 2024
b) July 2023
c) December 2023
d) June 2023
Answer: b) July 2023
Q199. Which aspect of pharmaceutical manufacturing does Schedule M aim to standardize?
a) Marketing campaigns
b) Research and development procedures
c) Production line speed
d) Factory hygiene and sanitation
Answer: d) Factory hygiene and sanitation
Q200. What is the primary goal of Schedule M implementation in MSME Pharma firms?
a) Boosting foreign investment
b) Increasing profit margins
c) Ensuring product quality and safety
d) Expanding market reach
Answer: c) Ensuring product quality and safety
Q201. How will the government monitor the compliance of MSME Pharma firms with Schedule M?
a) Regular inspections and audits
b) Public surveys
c) Self-assessment by the firms
d) Media coverage
Answer: a) Regular inspections and audits
Q202. What level of pharmaceutical firms does Schedule M primarily target?
a) Large-scale enterprises
b) Multinational companies
c) Medium and small-scale enterprises
d) Biotechnology startups
Answer: c) Medium and small-scale enterprises
Q203. How can MSME Pharma firms prepare for the mandatory implementation of Schedule M?
a) Lobbying for its repeal
b) Implementing Good Sales Practices (GSP)
c) Seeking financial aid from the government
d) Ensuring compliance with Good Manufacturing Practices (GMP)
Answer: d) Ensuring compliance with Good Manufacturing Practices (GMP)
Q204. Which international body sets the guidelines for Good Manufacturing Practices (GMP)?
a) World Health Organization (WHO)
b) United Nations (UN)
c) International Monetary Fund (IMF)
d) World Trade Organization (WTO)
Answer: a) World Health Organization (WHO)
Q205. What document does Schedule M replace in the pharmaceutical industry?
a) Schedule C
b) Schedule A
c) Schedule F
d) Schedule D
Answer: c) Schedule F
Q206. What is the significance of July 2023 in relation to Schedule M?
a) It marks the anniversary of Schedule M’s introduction
b) It is the deadline for implementation by MSME Pharma firms
c) It is the month when Schedule M was first proposed
d) It is the birth month of Health Minister Mandaviya
Answer: b) It is the deadline for implementation by MSME Pharma firms
Q207. Which of the following is NOT covered under Schedule M guidelines?
a) Equipment validation
b) Raw material sourcing
c) Process validation
d) Employee training
Answer: b) Raw material sourcing
Q208. How will the implementation of Schedule M benefit consumers?
a) Reduced prices of pharmaceutical products
b) Faster delivery of products
c) Wider product variety
d) Enhanced product quality and safety
Answer: d) Enhanced product quality and safety
Q209. What aspect of pharmaceutical manufacturing does Schedule M prioritize?
a) Maximizing production output
b) Ensuring the safety of workers
c) Minimizing manufacturing costs
d) Ensuring product consistency and quality
Answer: d) Ensuring product consistency and quality
Q210. Which regulatory body will oversee the enforcement of Schedule M in MSME Pharma firms?
a) Food Safety and Standards Authority of India (FSSAI)
b) Drug Controller General of India (DCGI)
c) Ministry of Corporate Affairs
d) Reserve Bank of India (RBI)
Answer: b) Drug Controller General of India (DCGI)
Q211. How can MSME Pharma firms stay updated with any changes to Schedule M guidelines?
a) Regularly checking government websites
b) Subscribing to industry magazines
c) Joining industry associations
d) Hiring legal advisors
Answer: a) Regularly checking government websites
Q212. What is the role of the Health Minister in the implementation of Schedule M?
a) Formulating taxation policies for MSME Pharma firms
b) Ensuring adequate supply of pharmaceutical products
c) Advocating for the welfare of the pharmaceutical industry
d) Implementing and overseeing healthcare policies
Answer: c) Advocating for the welfare of the pharmaceutical industry
Q213. What is the purpose of Good Manufacturing Practices (GMP)?
a) To ensure that pharmaceutical products are marketed effectively
b) To ensure that pharmaceutical products meet international quality standards
c) To regulate the pricing of pharmaceutical products
d) To enforce environmental protection measures in the pharmaceutical industry
Answer: b) To ensure that pharmaceutical products meet international quality standards
Q214. What impact will Schedule M have on the export potential of MSME Pharma firms?
a) It may hinder exports due to increased compliance costs
b) It may increase exports by improving product quality
c) It will have no effect on export potential
d) It may lead to increased tariffs on pharmaceutical exports
Answer: b) It may increase exports by improving product quality
Q215. How can MSME Pharma firms seek clarification on Schedule M guidelines?
a) Contacting the Ministry of Finance
b) Requesting a meeting with the Health Minister
c) Reaching out to the Drug Controller General of India
d) Consulting with industry experts
Answer: c) Reaching out to the Drug Controller General of India
Q216. Which of the following industries is NOT subject to Schedule M regulations?
a) Biotechnology
b) Automotive
c) Pharmaceutical
d) Healthcare
Answer: b) Automotive
Q217. What could be the potential challenges for MSME Pharma firms in implementing Schedule M?
a) Increased competition from multinational corporations
b) Difficulty in obtaining raw materials
c) Resistance from employees towards new guidelines
d) Government intervention in pricing strategies
Answer: c) Resistance from employees towards new guidelines
Q218. How does Schedule M align with the government’s vision for the pharmaceutical industry?
a) To promote herbal medicine over conventional pharmaceuticals
b) To establish India as a global pharmaceutical manufacturing hub
c) To discourage foreign investment in the sector
d) To prioritize the development of generic drugs
Answer: b) To establish India as a global pharmaceutical manufacturing hub
Q219. What is the minimum threshold for an enterprise to be categorized as an MSME in the pharmaceutical sector?
a) Less than 500 employees
b) Less than 100 employees
c) Less than 250 employees
d) Less than 50 employees
Answer: d) Less than 50 employees
Q220. How will the implementation of Schedule M impact the employment scenario in MSME Pharma firms?
a) It will lead to mass layoffs
b) It may create new job opportunities for compliance officers
c) It will not affect the employment scenario
d) It will lead to an increase in the minimum wage for workers
Answer: b) It may create new job opportunities for compliance officers
Q221. What is the primary objective of Schedule M?
a) Encouraging the use of advanced technologies in pharmaceutical manufacturing
b) Streamlining marketing and distribution channels
c) Ensuring the safety and quality of pharmaceutical products
d) Promoting eco-friendly practices in the pharmaceutical industry
Answer: c) Ensuring the safety and quality of pharmaceutical products
Q222. How will the government support MSME Pharma firms in implementing Schedule M?
a) Offering tax breaks
b) Providing financial incentives
c) Conducting employee training programs
d) Introducing export subsidies
Answer: b) Providing financial incentives
Q223. What role does Schedule M play in enhancing India’s pharmaceutical industry’s reputation globally?
a) Improving research and development capabilities
b) Ensuring compliance with international standards
c) Establishing exclusive partnerships with foreign firms
d) Enhancing marketing strategies
Answer: b) Ensuring compliance with international standards
Q224. How frequently will MSME Pharma firms be required to renew their Schedule M compliance certifications?
a) Every six months
b) Annually
c) Every two years
d) Once every five years
Answer: c) Every two years
Q225. What is the maximum penalty for repeated non-compliance with Schedule M?
a) License suspension
b) Permanent closure of the firm
c) Imprisonment of the firm’s management
d) Revocation of the firm’s MSME status
Answer: a) License suspension
Q226. What is the objective of regular audits of MSME Pharma firms under Schedule M?
a) To identify potential fraud
b) To assess the firm’s financial health
c) To ensure compliance with Good Manufacturing Practices (GMP)
d) To evaluate employee performance
Answer: c) To ensure compliance with Good Manufacturing Practices (GMP)
Q227. What is the importance of Schedule M for the growth of the pharmaceutical industry?
a) It will increase the number of pharmaceutical patents.
b) It will attract foreign investment into the sector.
c) It will encourage pharmaceutical firms to go public.
d) It will enhance product quality and global competitiveness.
Answer: d) It will enhance product quality and global competitiveness.
Q228. What can MSME Pharma firms do to ease the financial burden of implementing Schedule M?
a) Seek government loans at subsidized interest rates
b) Reduce employee salaries temporarily
c) Increase the price of pharmaceutical products
d) Collaborate with larger pharmaceutical companies
Answer: a) Seek government loans at subsidized interest rates
Q229. How does Schedule M contribute to the overall healthcare sector in India?
a) By increasing the number of healthcare facilities
b) By providing funding for medical research
c) By ensuring the availability of high-quality pharmaceutical products
d) By implementing universal healthcare coverage
Answer: c) By ensuring the availability of high-quality pharmaceutical products
Q230. What can MSME Pharma firms do to prepare their workforce for the Schedule M implementation?
a) Provide financial bonuses to employees
b) Conduct regular training sessions on GMP guidelines
c) Encourage employees to join labor unions
d) Implement flexible working hours
Answer: b) Conduct regular training sessions on GMP guidelines
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