AssamExam

APSC CCE Prelim 2020 General Studies (GS) Paper 1 Questions Analysis

Questions from Economy of India & Assam sections

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Q5. The term Black Revolution in the present context of India is associated with

1. Higher exportability of crude oil
2. Self dependence in the production of crude oil
3. Improvement in the quality of black soil
4. Self dependence in milk production

Correct option: (B) Self-dependence in the production of crude oil

Black Revolution: To increase petroleum production, the Government planned to accelerate the production of ethanol and to mix it up with petrol to produce biodiesel. Ethanol is a renewable source of energy and is a by-product of sugar production produced from molasses. The blending of ethanol with petrol has been practiced in the USA and Brazil for over 70 years. The blending of ethanol with transport fuels would provide better returns to farmers, supplement scarce resources of hydrocarbons, and be environment-friendly by reducing pollutants as it helps combustion.

Topic to focus : Economic revolutions

 

Q23. Which statement among the following is not true about GST council?

1. It is a statutory body
2. It is chaired by the PM of the country
3. It decides the rates of taxes on goods and services except some items
4. It was constituted by the President of India

Correct option: (B) is not true

Union Finance Minister is the Chairman of the GST Council

In true sense, this Question is wrong. GST Council is a constitutional body under Article 279A. It makes recommendations to the Union and State Government on issues related to Goods and Service Tax and was introduced by the Constitution (One Hundred and First Amendment) Act, 2016. The GST Council is chaired by the Union Finance Minister and other members are the Union State Minister of Revenue or Finance and Ministers in-charge of Finance or Taxation of all the States. Thus, both the option (A) and (B) are incorrect. But, if you have to choose one out of these, then its’ option (B).

Topic to focus : Economic bodies

 

Q24. The National Bamboo Mission strives to

(i) Increase the area under bamboo plantation in non-forest areas.

(ii) Rejuvenate the underdeveloped bamboo industry in India

(iii) Take over the sick paper mills in the country

(iv) Explore the export market for bamboo

1. (i) and (ii)
2. (i) and (iii)
3. (i), (ii) and (iii)
4. (i), (ii) and (iv)

Correct option: (A) (i) and (ii)

Objectives of the National Bamboo Mission

1. To increase the area under bamboo plantations in non-forest Government and private lands to supplement farm income and contribute towards resilience to climate change as well as the availability of quality raw material requirement of industries. The bamboo plantations will be promoted predominantly in farmers’ fields, homesteads, community lands, arable wastelands, and along irrigation canals, water bodies, etc.
2. To improve post-harvest management through the establishment of innovative primary processing units near the source of production, primary treatment and seasoning plants, preservation technologies, and market infrastructure.
3. To promote product development keeping in view market demand, by assisting R&D, entrepreneurship & business models at micro, small and medium levels and feed bigger industry.
4. To rejuvenate the underdeveloped bamboo industry in India.
5. To promote skill development, capacity building, awareness generation for development of bamboo sector from production to market demand.
6. To realign efforts so as to reduce dependency on import of bamboo and bamboo products by way of improved productivity and suitability of domestic raw material for industry, so as to enhance income of the primary producers.

Objective (nbm.nic.in)

Topic to focus : Economic Program/Missions

Q25. Which one of the following correctly describes Angel Tax

1. A tax imposed on the super-rich people
2. A tax relief for doing social work
3. A type of capital gains tax imposed when startups receive funding, which is higher than the fair market value of shares sold.
4. A tax relief given to startups for doing innovative work

Correct option: (C) A type of capital gains tax imposed when startups receive funding, which is higher than the fair market value of shares sold.

Angel Tax is a term basically used to refer to the income tax payable on the capital raised by unlisted companies via the issue of shares through off-market transactions. Angel tax is levied on the capital raised via the issue of shares by unlisted companies from an Indian investor if the share price of issued shares is seen in excess of the fair market value of the company. The excess realization is considered as income and therefore, taxed accordingly.

Topic to focus : Taxation types

 

ECONOMY – Assam

Q29. We often hear the term ‘CTC’ in the context of Assam Tea. What does CTC stand for?

1. Crush, Tear, Curl
2. Curl, Tear, Crush
3. Check, thrash, curl
4. Check, tear, curl

Correct option: (A) Crush, tear, curl

Crush, tear, curl is a method of processing black tea in which the leaves are passed through a series of cylindrical rollers with hundreds of sharp teeth that crush, tear, and curl the tea into small, hard pellets. This replaces the final stage of orthodox tea manufacture, in which the leaves are rolled into strips. Tea produced using this method is generally called CTC tea or mamri tea.

The first CTC machine was brought into service in 1930 at the Amgoorie Tea Garden in Assam under the supervision of Sir William McKercher.

Topic to focus : Assam Tea

 

Q32. Which of the following became the first state/UT in India to present an e-budget and stream it live on social media as well?

1. Andhra Pradesh
2. Kerala
3. Assam
4. Delhi

Correct option: (C) Assam

Andhra Pradesh is the first state to present its budget in the digital format in 2016. However, Assam is the first state to present e-budget and stream it live on social media.

Assam Budget 2018-19 – Highlights and Analysis – AssamExam

Topic to focus : Assam’s Financial Budget

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