10 PM Current Affairs Quiz #1 August 1, 2019

Explanation: The equalization levy, introduced in 2016, is a direct tax on payments made by residents to non-resident companies for online advertisement, provision of digital and advertising space or any other facility or service for online advertisement.

Explanation: The Bill proposes huge increases in various penalties for traffic violations, protection to Good Samaritans, and recall of defective vehicle parts by auto companies, holding builders accountable for poor quality of infrastructure and making vehicle owners criminally liable for violations committed by juvenile drivers.
•It makes Aadhaar mandatory for getting a driving licence and vehicle registration.
•For deaths in hit-and-run cases, the government will provide a compensation of Rs 2 lakh or more to the victim’s family. Currently, the amount is just Rs 25,000.
•In traffic violations by juveniles, the guardians or owner of the vehicle would be held responsible unless they prove the offence was committed without their knowledge or they tried to prevent it. The registration of the motor vehicle in question will be cancelled. The juvenile will be tried under the Juvenile Justice Act.
•The bill has provision for protection of Good Samaritans. Those who come forward to help accident victims will be protected from civil or criminal liability
•The minimum fine for drunk driving has been increased from Rs 2,000 to Rs 10,000.
•The fine for rash driving has been increased from Rs 1,000 to Rs 5,000.

Explanation: CCEA has a mandate to review economic trends on a continuous basis, as also the problems and prospects, with a view to evolving a consistent and integrated economic policy framework for the country. It also directs and coordinates all policies and activities in the economic field including foreign investment that require policy decisions at the highest level.
Matters regarding fixation of prices of agricultural products as well as reviewing progress of activities related to rural development including those concerning small and marginal farmers are in CCEA’s competence. Price controls of industrial raw materials and products, industrial licensing policies including industrial licensing cases for establishment of Joint Sector Undertakings, reviewing performance of Public Sector Undertakings including their structural and financial restructuring are also within the purview of CCEA, as are all matters relating to disinvestment including cases of strategic sale, and pricing of Government shares in Public Sector Undertakings (except to the extent entrusted to an Empowered Group of Ministers).
The CCEA also lays down priorities for public sector investment and considers specific proposals for investment of not less than specific levels (Rs. 3 Billion at present) as revised from time to time. It is important to note that the increase in the prices of essential commodities or bulk goods under any form of formal or informal control is decided by the CCEA, even as the CCP monitors the price behavior of essential commodities, takes decision on supply, imports and exports of essential commodities and prices for articles sold through the public distribution system.

Explanation: Government of India has introduced a pension scheme for unorganised workers namely Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) to ensure old age protection for Unorganised Workers. The unorganised workers mostly engaged as home based workers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washer men, rickshaw pullers, landless labourers, own account workers, agricultural workers, construction workers, beedi workers, handloom workers, leather workers, audio- visual workers and similar other occupations whose monthly income is Rs 15,000/ per month or less and belong to the entry age group of 18-40 years. They should not be covered under New Pension Scheme (NPS), Employees’ State Insurance Corporation (ESIC) scheme or Employees’ Provident Fund Organisation (EPFO). Further, he/she should not be an income tax payer.

Explanation: Fertilizer subsidy is the difference between the holding price of fertilizers and the price at which fertilizers are made available to consumers. For sustained agricultural growth and to promote balanced nutrient application, the fertilizers are made available to farmers at affordable prices. Financial support is also given on both indigenous and imported urea.
•At present, subsidies are paid to fertilizer companies on the basis of receipt of fertilizer at identified godowns in districts.
•Fertilizer subsidies would be transferred to manufacturers on the basis of actual sales.
•With the new system, a PoS machine would be installed in every fertilizer godowns.
•It captures the buyer’s identity based on Aadhaar biometric authentication, with the quantities purchased.
•This move which will pave the way for implementation of the direct benefit transfer (DBT) system.