P.T. Practice Questions 05th April 2021

Q. 1 Consider the following statements about Stand-up India:

  1. The purpose of Stand-Up India is to promote entrepreneurship amongst women, SC & ST category.
  2. Loans under the scheme are available for all types of  projects.
  3. Stand up India Scheme was launched on 5th April 2016 and has been extended up to the year 2025.

Choose the correct alternative:

  1. 1 Only
  2. 1 and 3 Only
  3. 2 and 3 Only
  4. 2 Only

Ans : b (1 and 3 Only)

Explanation

Stand up India Scheme was launched on 5th April 2016 to promote entrepreneurship at grassroot level focusing on economic empowerment and job creation. This scheme has been extended up to the year 2025. 

The purpose of Stand-Up India is to:

  • promote entrepreneurship amongst women, SC & ST category. 
  • Provide loans for setting up greenfield enterprises in manufacturing,  services or the trading sector & activities allied to agriculture by both ready and trainee borrowers
  • facilitate bank loans between Rs.10 lakh to Rs.1 crore to at least one Scheduled Caste/ Scheduled Tribe borrower and at least one woman borrower per bank branch of Scheduled Commercial Banks

Who all are eligible for a loan?

  • SC/ST and/or women entrepreneurs, above 18 years of age.
  • Loans under the scheme are available for only green field projects. Green field signifies, in this context, the first time venture of the beneficiary in the manufacturing,  services or the trading sector & activities allied to agriculture
  • In case of non-individual enterprises, 51% of the shareholding and controlling stake should be held by either SC/ST and/or Women Entrepreneur.
  • Borrowers should not be in default to any bank/financial institution.

Q. 2 Consider the following statements about ‘Sankalp se siddhi’ drive launched by TRIFED:

  1. In this 100 days drive, 100 villages will be targeted by TRIFED’s team.
  2. The main aim of this drive is to activate the Van Dhan Vikas Kendras in these villages. 

Choose the correct alternative:

  1. 1 Only
  2. 2 Only
  3. Both 1 and 2
  4. Neither 1 nor 2

Ans: b (2 Only)

Explanation

TRIFED under the Ministry of Tribal Affairs has now launched “Sankalp se Siddhi” – Village & Digital Connect Drive. Starting from April 1, 2021, this 100 day drive will entail 150 teams (10 in each region from TRIFED and State Implementation Agencies/Mentoring Agencies/Partners) visiting ten villages each. 100 villages in each region and 1500 villages in the country will be covered in the next 100 days. The main aim of this drive is to activate the Van Dhan Vikas Kendras in these villages. 

Among all of TRIFED’s initiatives that have been put in place to help the disadvantaged tribal sections of the society, the Scheme, Mechanism for Marketing of Minor Forest Produce (MFP) Through Minimum Support Price (MSP) & Development of Value Chain for MFP’ that provides MSP to gatherers of forest produce and introduces value addition and marketing through tribal groups and clusters and Van Dhan Vikas Kendras has found widespread acceptance across the country. Especially during the pandemic in 2020, this scheme has emerged as a panacea for the tribals. 

Q. 3 Consider the following statements about HSN code:

  1. HSN is a six-digit code that classifies more than 5000 products, arranged in a legal and logical structure.
  2. It was adopted by the World Customs Organization in 1988, however India adopted the HSN coding system in 1986.

Choose the correct alternative:

  1. 1 Only
  2. 2 Only
  3. Both 1 and 2
  4. Neither 1 nor 2

Ans: c (Both 1 and 2)

Explanation

HSN is Harmonised System of Nomenclature. It was adopted by World Customs Organization in 1988. It is a six-digit code that classifies various products. India adopted the HSN coding system in 1986 (even before WCO) mainly to classify commodities for Customs and Central Excise.

  • The HSN codes apply to both GST and Customs.
  • It is used all over the world.
  • HSN codes make the process of filing GST easy as they remove the need to upload details about the goods.
The Importance of the HSN Code

While the primary purpose of the HSN code is the systematic classification of goods, it can also be used to gather data and solve problems that would otherwise be difficult to obtain. The result is a more efficient international trade system.

HSN is in use worldwide, with 200+ countries participating. This impressive adoption rate can be chalked up to the benefits of HSN, which include:

  • Collection of international trade statistics
  • Provision of a rational basis for Customs tariffs
  • Uniform classification

Nearly 98% of international trade stock is classified in terms of HSN, further evidence of its reputation as the best form of international classification.

HSN numbers exist for each commodity in every country, and the number remains the same for almost all goods. In some countries, HSN numbers can vary a little because they are entirely based on the nature of the items classified.

Q. 4 Consider the following statements regarding the India’s location:

1. India extends from Kashmir in the north to Kanyakumari in the south and Arunachal Pradesh in the east to Gujarat in the west.

2. India’s territorial limit further extends towards the sea upto 18 nautical miles from the coast.

3. India’s southern boundary extends upto 6°45′ N latitude in the Bay of Bengal.

Choose the correct alternative:

  1. 1 and 2 Only
  2. 2 and 3 Only
  3. 1 and 3 Only
  4. All of the above

Ans. c (1 and 3 Only)                                                    

Explanation

The mainland of India, extends from Kashmir in the north to Kanyakumari in the south and Arunachal Pradesh in the east to Gujarat in the west. The extreme points of India are Dafdar , the northern point, Kibithu the eastern point, Guhar Moti, the western point and Kanyakumari, the southern point.

India’s territorial limit further extends towards the sea up to 12 nautical miles (about 21.9 km) from the coast. Being the sovereign territory of the state Territorial sea ( defined by the 1982 United Nations Convention on the Law of the Sea) is a belt of coastal waters extending at most 12 nautical miles (22 km; 14 mi) from the baseline (usually the mean low-water mark) of a coastal state.

India’s southern boundary extends up to 6°45′ N latitude in the Bay of Bengal. Kanyakumari is the southern tip of India located in the state of Tamil Nadu.