UPSC Current Affairs Practice Questions – 05 October 2024

1. Consider the following statements regarding the Mumbai Interbank Offered Rate (MIBOR):

1. MIBOR serves as a benchmark interest rate for short-term loans in the Indian interbank market.
2. It was first introduced by the Reserve Bank of India (RBI).

Which of the statements given above is/are correct?

2. Consider the following statements regarding the National Mission on Edible Oils (NMEO):

1. It aims to increase domestic oilseed production to reduce dependence on edible oil imports.
2. The NMEO includes a component specifically focused on oil palm cultivation.
3. The mission was launched by the Ministry of Food Processing Industries.

Which of the statements given above is/are correct?

3. Consider the following statements regarding the PM Rashtriya Krishi Vikas Yojana (PM-RKVY):

1. It aims to promote sustainable agriculture and improve agricultural productivity.
2. The scheme provides flexibility and autonomy to states in planning and executing agricultural projects.
3. It is a central sector scheme with a 100% funding from the central government.

Which of the statements given above is/are correct?

4. Consider the following statements regarding the PM Internship Scheme:

1. The scheme aims to provide internship opportunities to one crore youth over five years.
2. The scheme is implemented by the Ministry of Skill Development and Entrepreneurship.
3. Candidates aged between 21 and 24 years who are not engaged in full-time employment are eligible.

Which of the statements given above is/are correct?

5. With reference to Input Tax Credit (ITC) under the Goods and Services Tax (GST) regime, consider the following statements:

1. ITC allows businesses to reduce their tax liability by claiming credit for the taxes paid on inputs used in their business.
2. ITC is available for all goods and services purchased, without any restrictions.

Which of the statements given above is/are correct?