The Hindu: 1st July

 

  1. Which of the following is/are correct about the Tourism sector in India?
  2. 100% FDI is allowed in tourism construction projects, including the development of hotels, resorts, and recreational facilities.
  3. “COVID-19 and Tourism: An Update” is a joint report released by the UN Conference on Trade and Development (UNCTAD) and the UN World Tourism Organisation (UNWTO).

 

Select the correct answer using the code given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

 

Explanation:

 

Statement 1 is correct: India’s ranking in the Travel and Tourism Competitive Index (TTCI) of World Economic Forum moved from 52nd position in 2015 to 40th position in 2017. Now India has moved up by another 6 positions and ranked at 34th position in 2019.

100% FDI is allowed in tourism construction projects, including the development of hotels, resorts, and recreational facilities.

 

Statement 2 is correct: India experienced a 54% drop in tourist arrivals in 2020, according to COVID-19 and Tourism: An Update, a joint report released by the UN Conference on Trade and Development (UNCTAD) and the UN World Tourist Organisation (UNWTO) on Wednesday.

 

Source:

https://www.thehindu.com/news/international/international-tourism-not-seen-rebounding-until-2023-un-report/article35048586.ece

https://www.investindia.gov.in/sector/tourism-hospitality

 

 

  1. Which of the following countries are signatories of the Abraham Accords?
  2. Israel
  3. The UAE
  4. Iran

 

Select the correct answer using the code given below:

(a) 1 only

(b) 1 and 2 only

(c) 2 and 3 only

(d) 1, 2 and 3

 

Explanation: Option (b) is correct

The UAE and Bahrain normalised ties with Israel under so-called “Abraham Accords” brokered by Mr. Trump’s administration,creating a new regional dynamic based on mutual concern over Iran and Islamist groups.

 

Iran is not a part of Abraham Accords.

 

Source:https://www.thehindu.com/news/international/israel-seeks-to-build-wider-ties-across-west-asia/article35064770.ece

 

 

  1. Which of the following statements is/are correct about Fiscal Deficit?
  2. Income from taxation is the only income considered while calculating Fiscal Deficit of the Government.
  3. Fiscal deficit should be avoided at any cost to ensure economic development of the country.

 

Select the correct answer using the code given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

 

Explanation:

Statement 1 is incorrect: Fiscal Deficit is the difference between the total income of the government (total taxes and non-debt capital receipts) and its total expenditure. A fiscal deficit situation occurs when the government’s expenditure exceeds its income.

 

Statement 2 is incorrect: A high fiscal deficit can also be good for the economy if the money spent goes into the creation of productive assets like highways, roads, ports and airports that boost economic growth and result in job creation.

 

Source:

https://www.thehindu.com/business/Economy/mays-lower-spending-pegs-fiscal-deficit-at-82/article35067223.ece#:~:text=May's%20lower%20spending%20pegs%20fiscal%20deficit%20at%208.2%25%20%2D%20The%20Hindu

https://www.financialexpress.com/what-is/fiscal-deficit-meaning/1620295/

 

  1. Which of the following statements best describes “Viability Gap Funding”?

(a) Grants provided to support short term projects which are expected to yield high profit in near future.

(b) Grants provided to support infrastructure projects that are economically justified but fall short of financial viability.

(c) It is a funding method to offer financial support exclusively to Public sector enterprises engaged in socially meaningful projects.

(d) None of the above

 

Explanation: Option (b) is correct

The Union Cabinet approved a viability gap funding support of up to ₹19,041 crore for the implementation of the BharatNet project through Public-Private Partnership (PPP) model in 16 States.

 

Viability Gap Funding (VGF) means a grant one-time or deferred, provided to support infrastructure projects that are economically justified but fall short of financial viability. The lack of financial viability usually arises from long gestation periods and the inability to increase user charges to commercial levels. Infrastructure projects also involve externalities that are not adequately captured in direct financial returns to the project sponsor. Through the provision of a catalytic grant assistance of the capital costs, several projects may become bankable and help mobilise private investment in infrastructure.

 

Source:

https://www.thehindu.com/business/Industry/cabinet-approves-19041-crore-viability-gap-funding-for-bharatnet-in-16-states/article35055840.ece

http://www.arthapedia.in/index.php?title=Viability_Gap_Funding_%28VGF%29

 

 

  1. Which of the following is/are correct about judges of the Supreme Court?
  2. Judges have a fixed tenure of five years.
  3. The Supreme Court of India comprises the Chief Justice and not more than 30 other Judges.

 

Select the correct answer using the code given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

 

Explanation:

Justice Ashok Bhushan, who led the Bench that had been monitoring the COVID-19 management and relief throughout the pandemic days, completed his last working day as judge of the Supreme Court on Wednesday.

 

Statement 2 is correct: The Supreme Court of India comprises the Chief Justice and not more than 30 other Judges appointed by the President of India.

 

Statement 1 is incorrect: Supreme Court Judges retire upon attaining the age of 65 years (not fixed five year tenure). In order to be appointed as a Judge of the Supreme Court, a person must be a citizen of India and must have been, for at least five years, a Judge of a High Court or of two or more such Courts in succession, or an Advocate of a High Court or of two or more such Courts in succession for at least 10 years or he must be, in the opinion of the President, a distinguished jurist. Provisions exist for the appointment of a Judge of a High Court as an Ad-hoc Judge of the Supreme Court and for retired Judges of the Supreme Court or High Courts to sit and act as Judges of that Court.

 

Source:

https://main.sci.gov.in/constitution

https://www.thehindu.com/news/national/justice-ashok-bhushan-ends-tenure-in-sc/article35052171.ece#:~:text=Justice%20Ashok%20Bhushan%2C%20who%20led,is%20retiring%20on%20July%204.