Current Affairs Questions And answers

 

Question 1. Consider the following statements-

1) The World Economic Forum issues the Global Energy Transition Index every year.

2) India is ranked 74th in this index in 2020.

3) India was ranked 76th last year.

Which of the above statements is / are true?

a 1 and 2 only

b only 1 and 3

c 2 and 3 only

d. All of the above

Ans d

On 13 May 2020, the Global Energy Transition Index was released by the World Economic Forum. 115 countries are included in this index. This index compares the energy sectors of these countries and analyzes their readiness for the energy transition. Sweden is ranked third in this index. India is ranked 74th in 2020. India ranked 76th in 2019.

Question 2. Consider the following statements.

1) The UN Security Council has 5 permanent and 10 temporary members.

2) India has been elected as a permanent member from the Asia Pacific category for 2021-22.

Which of the above statements is / are true?

a 1 only

b only 2

c both 1 and 2

d neither 1 nor 2

Ans A

On 17 June 2020, India was elected as a temporary member of UNSC in the United Nations Security Council for the eighth time. Now India has become a temporary member of this apex institution for the year 2021-22. After securing 184 votes in the 193-member General Assembly, India has been elected as a non-permanent member of the United Nations Security Council.

Question 14. dexamethasone medicine has been in the news recently. In which disease is this medicine used?

a corona virus

b Arthritis and asthma disease

c Malaria disease

d none of the above

Ans b

Dexamethasone has been a drug used in the treatment of arthritis and asthma since the 1960s. Dexamethasone may help save the lives of critically ill patients infected with coronavirus.

Experts in Britain believe that the use of this drug in small amounts is a major success in the coronavirus fight.

Question 4. Consider the following statements.

1) In the report released by UNCTAD, India ranked 9th among the countries receiving FDI in 2019.

2) World Investment Report is released by UNCTAD every year.

Which of the above statements are / are incorrect?

a 1 only

b only 2

c both 1 and 2

d neither 1 nor 2

Ans D

India has received foreign investment of USD 51 billion in the year 2019 and is ranked ninth among the countries receiving more FDI worldwide during the year. This information is given in a report of the business unit of the United Nations. The United Nations Trade and Development Conference (UNCTAD) has said in a report released on June 2020 that India will continue to achieve weak but positive economic growth after Kovid-19 and India's broader markets continue to attract investment for the country.

Question 5. Consider the following statements.

1) 'Anfan' was a tropical cyclonic storm in the Bay of Bengal.

2) A cyclonic storm named 'Nisarg' originated in the Arabian Sea, it was a subtropical cyclone.

Which of the above statements is / are true?

a 1 only

b only 2

c both 1 and 2

d neither 1 nor 2

Ans A

Cyclone Amfan knocked in West Bengal and Odisha on 20 May. Due to this, there was strong thunderstorm and rain in the coastal areas of both the states. After hitting the coast, its speed was 155 to 165 km / h. Cyclone 'Nisarg' hit the coast of Alibaug in Mumbai. According to the Meteorological Department, the storm hit at a speed of about 120 kilometers per hour. Both storms were tropical.

 

DEPRECIATION

 DEPRECIATION

 Important Features:

 Depreciation is charged on Fixed Asset (Tangible as well as Intangible).

 Depreciation is non cash expenditure and does not affect the cash flow statement.

 Value of such fixed assets decreases over a period of time due to usage, normal wear and

     tear, passage of time, obsolescence of technology and market changes.

 Depreciation of a fixed asset starts from the date when it is put to use.

 Schedule II of the Companies Act, 2013 prescribes the rate of depreciation for companies.

 Depreciation is not chargeable on Land as the useful life of land is unlimited.

 Amortization means writing off intangible Assets.

 Obsolescence means decline in the value of Fixed Asset due to Innovations and Inventions

which is an external factor.

Straight Line Method: Cost of Asset – Scrap Value Useful Life

Reducing Balance Method: A fixed percentage is charged to the written down value of asset each year so as to reduce the value of asset to its break-up value at the end of its life. Annual charge of depreciation decreases from year to year and Annual charge of repairs increases from year to year and hence a proper amount is charged to Profit each year for the use of fixed asset. (Widely Used in Income Tax)

Sum of year of Digit Method:

Depreciation =(Original Cost – Scrap Value) * Number of years of remaining life of asset Total of all digits of the life of the Asset

Total of all digits of the life of asset = n(n+1) 2

 Production Units Method:

Depreciation = Depreciable Amount * Production during the period/ Estimated total production

Annuity Method:

This method of depreciation takes into account the element of interest on capital outlay on fixed asset and seeks to write off the value of asset as well as the interest lost over the life of the asset. It assumes that amount paid out in acquiring asset, if invested elsewhere, would have earned interest which is considered as a cost of asset.

Machine Hour Method:

Where it is practicable to keep a record of the actual running hours of each machine, depreciation may be calculated on the basis of hours that the concerned machine worked. The machine hour rate of the depreciation is calculated after estimating the total number of hours that machine would work during its whole life.

 Sinking Fund Method:

The amount of depreciation set out annually may be available in cash or may be not able to realize in cash at the time of replacement of asset, so to avoid this situation, the amount of depreciation set out annually can be invested annually in government securities and interest earned on such government securities will be reinvested and the amount thereof shall be credited to sinking fund account.

Governor of Tamil NaduShri Bhanwarilal Purohit Ji, Chief Minister of Tamil Nadu Shri Palaniswami Ji, Deputy Chief Minister, Shri OPS, My colleague,Pralhad Joshi Ji,Minister in the Tamil Nadu Government, Shri Velumani Ji Dignitaries, Ladies and Gentlemen.

 Governor of Tamil NaduShri Bhanwarilal Purohit Ji, Chief Minister of Tamil Nadu Shri Palaniswami Ji, Deputy Chief Minister, Shri OPS, My colleague,Pralhad Joshi Ji,Minister in the Tamil Nadu Government, Shri Velumani Ji Dignitaries, Ladies and Gentlemen.

Vanakkam.

I am happy to be here in Coimbatore. This is a city of industry and innovation. Today we beginmany development worksthat will benefit Coimbatore and the entire Tamil Nadu.

Friends,

The foundation stone to modernise the Bhavanisagar damis being laid. This will irrigateover two lakh acres of land. The districts of Erode, Tiruppur and Karurwill especially benefitfrom this project. This project will be ofgreat benefit for our farmers. I am reminded of the wordsof the great Thiruvalluvar. He said;

உழுதுண்டு வாழ்வாரே வாழ்வார்மற் றெல்லாம்

தொழுதுண்டு பின்செல் பவர்.

It means, ‘the farmers are the one who truly live and all others livebecause of them;worshiping them’.

Friends,

Tamil Nadu is making a major contribution to India’s industrial growth. One of the basic needsfor industry to grow is continuous power supply.Today, I am happy to dedicate to the nation two major power projectsand lay the foundation forone more power project. The 709megawatt solar power project is developed by Neyveli Lignite Corporation India Limited in Tirunelveli, Thoothukudi, Ramanathapuram and Virudhunagar Districts.The cost of this project is over three thousand crore Rupees. Another 1000 megawattthermal power project of NLC,constructed at a total cost of almost Seven Thousand Eight hundred crore rupees will be of great benefit to Tamil Nadu. Oversixty-five percent of power generated in this project will be given to Tamil Nadu.

Friends,

Tamil Nadu has a glorious history of sea trade and port led development.I am happy to launch various projects related to V.O. Chidambaranar Port, Thoothukudi. We recall the efforts of the great freedom fighter V-O-C. His vision for a vibrant Indian shipping industryand maritime developmentinspires us greatly.The projects launched today will further strengthen the cargo handling ability of the port.It will even supportthe green port initiative.Apart from this, we will take further steps to make the Port into a big trans-shipmentport in the east coast. When our ports are more efficient, it contributes to India being Aatmanirbhar and a global hub for trade as well as logistics.

The Government of India’s commitmentto port-led developmentcan be seen throughthe Sagarmala Scheme. About 575 projectsat a total cost of oversix lakh crore rupees have been identified for implementation during 2015-2035 period.These works cover:Port modernization,New port development,Port connectivity enhancement,Port-linked industrialisation and Coastal community development.

I am also happy to note that a new Multi-Modal Logistics Parkis going to be launched soon at Mappedu near Sriperumbudur in Chennai. The ‘8-laning of Korampallam Bridge and Rail Over Bridge’was also taken upunder ‘Sagarmala programme’. The Project will facilitate seamless and congestion free transit to and from the Port.It will also further reducethe turn around timeof the cargo trucks.

Friends,

Development and care for the environment are closely linked. V-O-C port has already installed 500 kilowatt roof top solar power plant. Installation of another 140kilowatt roof top solar projectis in progress. It makes me happy that V-O-C Port has taken up the grid connected 5 megawattground-based solar power plant at a cost of almost twenty crore rupees. This project will help meet 60 percent of the total energy consumptionof the Port.This is truly an example of Urja Aatmanirbharta.

Dear Friends,

At the core of development is ensuring dignity to every individual.One of the ways of ensuring dignity is to provide shelter for everyone.To give wings to the dreams and aspirations of our people, Pradhan Mantri Awas Yojnawas started.

Friends,

It is my privilege to inaugurate Four Thousand One Hundred and Forty Four tenements. They are built in Tiruppur, Madurai and Tiruchirappalli Districts.The cost of this project is 332 crores rupees.These houseswill be handed over to those who never had a roof over their head after 70 long years of independence.

Friends,

Tamil Nadu is a heavily urbanized state. The Government of India and Government of Tamil Naduare committed to all-round growth of the cities. I am happy to lay foundation stone for Integrated Command and Control Centres in smart cities across Tamil Nadu. This will provide an intelligent and integrated IT solutionsto manage various servicesacross these cities.

Friends,

I am sure that the projects launched today will give a big boostto the lives and livelihood of the people of Tamil Nadu.Best wishes to all the familieswho are gettingtheir new homes today.We will keep working to fulfil the dreams of the people and build an Aatmanirbhar Bharat.