1. Which of the following is/are not one of the key dimensions used in WEF’s Gender Gap Report:
a) Economic Participation and Opportunity
b) Educational Attainment
c) Reproductive Health
d) Political Empowerment
2. Which of the following indices are correctly matched?
1. Gender Inequality Index (GII) – UNDP
2. Gender Related Development Index – IMF
3. Social Institutions and Gender Index (SIGI) – OECD Development Centre
4. Gender Parity Index (GPI) – UNESCO
a) 1 & 4 only
b) 1 only
c) 1, 3 & 4 only
d) All of the above are correctly matched
3. In context of Goods and Services Tax Compensation Fund, which of the following is/are correct?
1. It is a non-lapsable fund.
2. It forms part of public account of India.
a) 1 only
b) 2 only
c) Both are correct
d) None is correct
4. National Company Law Appellate Tribunal (NCLAT) can hear appeals against the orders passed by:
1. National Company Law Tribunal(s) (NCLT)
2. Insolvency and Bankruptcy Board of India
3. Competition Commission of India (CCI)
a) 1 only
b) 1 & 2 only
c) 1 & 3 only
d) All of the above
5. 2019 Prelims Question
ANSWER & EXPLANATION
1. Answer: B
Explanation: We Discussed this extensively in today’s (19th December 2019)
Adding some more information here:
WEF’s GGR has 4 Dimesnions.
They further have sub-dimensions.
2. Answer: C
Explanation: Gender Inequality Index (GII) is an index for measurement of gender disparity that was introduced in the 2010 Human Development Report 20th anniversary edition by the United Nations Development Programme (UNDP).
Gender Related Development Index (GDI) is an index designed to measure gender equality.
GDI together with the Gender Empowerment Measure (GEM) were introduced in 1995 in the Human Development Report written by the United Nations Development Program. The aim of these measurements was to add a gender-sensitive dimension to the Human Development Index (HDI).
In 2007 the OECD Development Centre introduced a Social Institutions and Gender Index (SIGI), a composite indicator of gender equality that solely focuses on social institutions that affect the equality between men and women, as well as on the four dimensions of family code, physical integrity, ownership rights and civil liberties.
Social institutions comprise norms, values and attitudes that exist in a society in relation to women.
Gender Parity Index (GPI) is a socioeconomic index usually designed to measure the relative access to education of males and females. This index is released by UNESCO.
In its simplest form, it is calculated as the quotient of the number of females by the number of males enrolled in a given stage of education (primary, secondary, etc.).
A GPI equal to one signifies equality between males and females.
3. Answer: B
Explanation: What is Compensation Cess
It was introduced as relief for States for the loss of revenues arising from the implementation of GST.
Since States’ local levies were subsumed under the GST,
they were guaranteed a 14 per cent tax revenue growth in the first five years after GST implementation by the Central government.
States’ tax revenue as of FY16 is considered as the base year for the calculation of this 14 per cent growth.
Any shortfall against it is supposed to be compensated by the Centre using the funds specifically collected as compensation cess.
From Where does Compensation Cess get Money
Compensation cess is levied on five products considered to be ‘sin’ or luxury goods.
For example, SUV vehicles (more than 4 metres) are charged 50 per cent GST, of which the GST tax rate is 28 per cent and the compensation cess is 22 per cent.
The collected compensation cess flows into the Consolidated Fund of India, and then transferred to the Public Account of India, where a GST compensation cess account has been created.
States are compensated bi-monthly from the accumulated funds in this account.
Other important things about Compensation cess
The proceeds of the Compensation cess shall be credited to a non-lapsable Fund known as the Goods and Services Tax Compensation Fund.
It forms part of the public account of India.
The input tax credit in respect of compensation cess on supply of goods or services can be utilised only towards payment of the compensation cess on supply of goods or services.
This cess will not be payable by exporters and those persons who have opted for compensation levy.
4. Answer: D
Explanation: National Company Law Appellate Tribunal (NCLAT) was constituted under Section 410 of the Companies Act, 2013 for hearing appeals against the orders of National Company Law Tribunal(s) (NCLT), with effect from 1st June, 2016.
NCLAT is also the Appellate Tribunal for hearing appeals against the orders passed by NCLT(s) under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC), with effect from 1st December, 2016.
NCLAT is also the Appellate Tribunal for hearing appeals against the orders passed by Insolvency and Bankruptcy Board of India under Section 202 and Section 211 of IBC.
NCLAT is also the Appellate Tribunal to hear and dispose of appeals against any direction issued or decision made or order passed by the Competition Commission of India (CCI) – as per the amendment brought to Section 410 of the Companies Act, 2013 by Section 172 of the Finance Act, 2017, with effect from 26th May, 2017.
5. Answer: C