IAS Prelims GS Questions and Answers - Nov 25 & 26, 2016

ANSWER: Only 2

Explanation:
An Insolvency Professional Agency is a front line regulator for the insolvency professionals. It enrols professional members, lays down standards of professional conduct for them and monitors their performance. It also redresses the grievances of consumers against its members.

The Insolvency and Bankruptcy Board of India (IBBI) has granted registration to the following two Section 8 (not-for-profit) companies to act as insolvency professional agencies (IPAs) under the IBBI (Insolvency Professional Agencies) Regulations, 2016:

• a. Indian Institute of Insolvency Professionals of ICAI, and
• b. ICSI Insolvency Professionals Agency.

ANSWER: 1, 2

Explanation:
The United Nations Commission on International Trade Law (UNCITRAL) was established by the United Nations General Assembly by its Resolution 2205 (XXI) of 17 December 1966 "to promote the progressive harmonization and unification of international trade law".

UNCITRAL carries out its work at annual sessions held alternately in New York City and Vienna.

ANSWER: Only 2

Explanation:
UNCITRAL was established in 1966 with a recognition that “international trade cooperation among States is an important factor in the promotion of friendly relations and, consequently, in the maintenance of peace and security”.

India is only one of eight countries that has been a member of UNCITRAL from its inception, and has recently been re-elected for a term of six years.

2016 marks 50 years of UNCITRAL.

UNCITRAL has created practical legal and legislative guides and provided technical assistance for law reform, apart from maintaining an updated database of uniform commercial law and judicial decisions.

ANSWER: Neither 1 nor 2

Explanation:
Bonded Labour System has been abolished by law throughout the country with effect from 25^th October, 1975 under the Bonded Labour System (Abolition) Ordinance which was replaced by The Bonded Labour System (Abolition) Act, 1976.

Under The Bonded Labour System (Abolition) Act, 1976, States/Union Territories are mandated to implement the provisions of the Act. The District and Sub-Divisional Magistrates and the Vigilance Committees constituted under the Act have been entrusted with certain duties/responsibilities for implementation of the Act.

Under the Bonded Labour System (Abolition) Act, 1976 identification, release and rehabilitation of freed bonded labour is the direct responsibility of the concerned state government/union territory.

In order to assist the State Governments in the task of rehabilitation of identified and released bonded labourers, a Centrally Sponsored Plan Scheme for Rehabilitation of Bonded Labour was in operation since May, 1978. The revamped scheme is known as the ‘Central Sector Scheme for Rehabilitation of Bonded Labourers, 2016’.

ANSWER: Both 1 and 2

Explanation:
The Government has revamped the Centrally Sponsored Plan Scheme for Rehabilitation of Bonded Labourers with effect from 17th May, 2016. The revamped scheme is known as the ‘Central Sector Scheme for Rehabilitation of Bonded Labourers, 2016’. The salient features of the Scheme are as under:

• The revised scheme is a Central Sector Scheme. The State Government is not required to pay any matching contribution for the purpose of cash rehabilitation assistance.
• Financial assistance has been increased from Rs. 20,000/- to one lakh per adult male beneficiary, Rs. 2 lakh for special category beneficiaries such as children including orphans or those rescued from organized & forced begging rings or other forms of forced child labour, and women and Rs. 3 lakh in cases of bonded or forced labour involving extreme cases of deprivation or marginalization such as trans-genders, or woman or children rescued from ostensible sexual exploitation such as brothels, massage parlours, placement agencies etc., or trafficking, or in cases of differently abled persons, or in situations where the District Magistrate deems fit.
• The amount of assistance for survey of bonded labourers is Rs. 4.50 lakh per district.

ANSWER: Neither 1 nor 2

Explanation:
The scheme provides for creation of a Bonded Labour Rehabilitation Fund at District level by each State with a permanent corpus of at least Rs. 10 lakh at the disposal of the District Magistrate for extending immediate help to the released bonded labourers.

The fund is released by the Ministry under the Scheme to the District National Child Labour Project Society and the District Project Society in turn releases the fund to the implementing agencies including the district administration.

Special care is made available by the State for addressing the needs of the disabled persons, female freed bonded labourers and bonded child labour by providing safe and secure environment for the capacity building of child bonded labourers, facilities for ensuring their proper education, short stay home till education up to class 12th, skill development, marriage assistance etc.

ANSWER: Pradhan Mantri Garib Kalyan Yojana

Explanation:
An alternative Scheme namely, ‘Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016’ (PMGKY) has been proposed.

The declarant under this regime shall be required to pay tax @ 30% of the undisclosed income, and penalty @10% of the undisclosed income.

Further, a surcharge to be called ‘Pradhan Mantri Garib Kalyan Cess’ @33% of tax is also proposed to be levied.

In addition to tax, surcharge and penalty (totaling to approximately 50%), the declarant shall have to deposit 25% of undisclosed income in a Deposit Scheme to be notified by the RBI under the ‘Pradhan Mantri Garib Kalyan Deposit Scheme, 2016’.

This amount is proposed to be utilised for the schemes of irrigation, housing, toilets, infrastructure, primary education, primary health, livelihood, etc., so that there is justice and equality.

ANSWER: Both 1 and 2

Explanation:
The scheme namely PM Garib Kalyan Yojana was launched as a poverty alleviation program in India in 2015.

In this scheme there will be a workshop that is being organised for the common people.

The scheme will concentrate on the single agenda that is improvement of the weaker section of the economy. Also the schemes that are still not implemented will be discussed for further improvement as well.

The PMGKY will be such a scheme that will include Member of Parliament in the workshop so that they can closely witness the problems regarding the implementation of the schemes each department has launched.

Also through this scheme the MPs and other ministers can contribute some portion to enhance the standard of living of the poor and weaker community.

The workshops will be paid workshop. People who want to join the workshop need to pay a small fee and then they can continue with the sessions.

Anyone can join the scheme or attend the workshop to be part of this program. Mostly the MPs and other departmental representatives will be part of the program.

ANSWER: Dhasai

Explanation:
Dhasai village in Thane district’s Murbad taluka is all set to become the country’s first cashless one from December 1, 2016.

For Dhasai village, bypassing cash transactions is the culmination of efforts put in by local NGO Swatantryaveer Savarkar Rashtriya Smarak in collaboration with the Bank of Baroda.

The bank provided Point of Sale (PoS) machines to around 100 traders in the village, and have waived off the installation security deposits and monthly rental.

During the meetings, the villagers were informed about various features of the PoS machines like electronic wallets and RuPay cards, which can be used for all monetary transactions.

ANSWER: Only 1

Explanation:
UNCITRAL's original membership comprised 29 states, and was expanded to 36 in 1973, and again to 60 in 2004.

Member states of UNCITRAL are representing different legal traditions and levels of economic development, as well as different geographic regions.

States includes 14 African states, 14 Asian states, 8 Eastern European states, 10 Latin American and Caribbean states, and 14 Western European states.

The Commission member States are elected by the General Assembly.

Membership is structured so as to be representative of the world's various geographic regions and its principal economic and legal systems.

Members of the commission are elected for terms of six years, the terms of half the members expiring every three years.