In an important development, a major deadlock between the Centre and the States was broken on the issue of Goods and Services Tax (GST) on 15 December 2014 paving the way for the GST Bill to be introduced in the current session of Parliament. To break the deadlock, the Centre agreed to which major demand of the States?
- To keep petroleum out of the GST regime
While on its part, the Centre agreed to the demand of the States to keep petroleum out of the GST regime, the States on their part agreed to entry tax being subsumed in the new tax regime which is proposed to be introduced from April 2016. Compromise was reached after an over hour-long meeting between Finance Minister Arun Jaitley and finance ministers of seven states – Punjab, Haryana, Gujarat, Tamil Nadu, Maharashtra, Karnataka, and Jammu and Kashmir. Concerns of other states have already been addressed. It was agreed that petroleum goods would be kept out of the Goods and Services Tax (GST) Bill for initial few years and a decision to include in the new tax regime would be taken later. States, which earn over 50% of their revenue from taxes on petrol and other petro products, wanted it to be out of GST so they could continue with levying different tax rates on these products.
Which terrorist organisation of Pakistan carried out a horrendous attack on a school in Peshawar on 16 December 2014 killing more than 130 people including a very large number of school children?
- Tehrik-i-Taliban Pakistan (TTP)
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The gunmen of Tehrik-i-Taliban Pakistan (which is also known as Taliban Pakistan), carried out one of the most ghastly attacks in recent times by storming the Army Public School in the northwestern Pakistani city of Peshawar on 16 December. The attack began in the morning hours, with the gunmen entering the school, a military-run facility with students in grades 1-10 and shooting randomly. Pak Army commandos quickly arrived at the scene and exchanged fire with the gunmen. Later TTP spokesman Mohammed Khurasani claimed responsibility for the attack in a phone call to media, saying that six suicide bombers had carried out the attack in revenge for the killings of Taliban members at the hands of Pakistani authorities. 3 day of national mourning was declared by Pakistani Prime Minister Nawaz Sharif later. Whole international community condemned this attack.
The 14th Finance Commission submitted its report to the President on 15 December 2014. The commission headed by former RBI Governor Y.V.Reddy has been constituted for which period for which it submitted its report?
- 1 April 2015 to 31 March 2020
The 14th Finance Commission was constituted by the President on 2 January 2013 and was to give its report by October 31 this year. But its tenure was extended till 31 December. In this report the commission gave its views on the devolution of tax receipts from the Centre to the states between 1 April 2015 and 31 March 2020. The Commission had sought two more months to examine financial projections and carry out consultations with the Andhra Pradesh and Telangana governments. It was also asked to look into the issue of Goods and Services Tax (GST). The commission’s terms of reference also included the pricing of public utilities such as electricity and water in an independent manner and the sale of non-priority public-sector units.
Defence Minister Manohar Parrikar flagged off the first nuclear-powered submarine manufactured indigenously in India for its sea trials from Vishakhapatnam on 15 December 2014. What is the name of this submarine?
- INS Arihant
INS Arihant is a 6000-tonne vessel and has 83 Megawatt Indian designed and built pressurised water reactor. All systems on board will be tested during this sea trial. If all trials go as planned, the submarine can be inducted within the next two years. It is worth mentioning that India presently operates another nuclear submarine, the INS Chakra, a nuclear attack submarine of the Akula-2. But it was manufactured in Russia.
Whose appointment as the 19th Surgeon General of the United States was confirmed by the Senate on 15 December 2014 and he would thus become the first person of Indian origin to hold this prestigious post?
- Vivek H. Murthy
Vivek H. Murthy’s appointment was confirmed by the upper house of US Congress by 51 votes to 43. This confirmation came more than a year after President Barack Obama had nominated him to this top administration post on public health issues in November 2013. 37-year old Murthy would also become the youngest person to hold this post. He was born to parents who are originally from South India. He came to the United States when he was three years old and grew up in Miami, Florida. Murthy is a Hospitalist Attending Physician and Instructor in Medicine at Brigham and Women’s Hospital at Harvard Medical School, a position he has held since 2006.
Vistara, the airline joint venture between Tata Sons and Singapore Airlines, on 15 December 2014 received the Air Operator Permit (AOP) from aviation regulator Directorate General of Civil Aviation or DGCA. With this Vistara would become the ……………full service air carrier in India when it starts its operations
- Third
Vistara would become India’s third full service carrier after state-run Air India and Jet Airways. Tata Sons holds a 51% stake in Vistara while the remaining 49% is with Singapore Airlines. Headquartered in New Delhi, Vistara will begin operations with its fleet of Airbus A 320-200 aircraft and will soon make an announcement on the start of sales, routes and schedules.
Indian Railways has identified eight stations where reverse osmosis (RO) drinking water units will be put up on experimental basis very soon. Which 8 railway stations are these?
- Bhopal, Dwarka, Gadag, Guwahati, Hazrat Nizamuddin, Madurai, Patna and Tirupati
Railways have identified the provision of RO water units at these 8 railway stations. As per guidelines, maximum retail price per bottle of package drinking water other than Rail Neer of 1000 ml is Rs. 15 only. The RO process involves substantial wastage of water depending upon its quality and will require uninterrupted power supply.
Which website was the most searched one on Google in India during 2014 as revealed in the data released by the search engine on 16 December 2014?
- IRCTC (The official website of Indian Railways for reservations)
According to statistics released by Google, the most trending topic of 2014 in India was Election 2014, followed by FIFA 2014, iPhone 6, GATE 2015 and Narendra Modi. E-commerce website Flipkart, PSU lender SBI Online, e-tailer Snapdeal and PNR status were other most searched words. Bollywood actress Sunny Leone was the most searched person in 2014 pushing Prime Minister Narendra Modi to the second spot. Low-cost mid-end smartphone MotoG tops the most searched Tech devices, followed by Apple iPhone 6.
SBI Associate General Knowledge Practice Paper
- 1) Which country along with1)2)3) Srilanka4)5) None of these
- 2) Which financial organization has decided to setup a $ 2 billion swap facility for SAARC member nations?1) World Bank2) International monetary fund3) Asian development Bank4) Reserve bank of5) State Bank of
- 3) BASEL III norms come into force1) Ist April 20132) Ist March 20133) Ist Feb 20134) Ist January 20135) None of these
- 4) Which country will host the 2019 cricket world cup?1)2)3)4)5)
- 5) Recently, RBI has allowed NBFC’s to open their ATM’s called as1) White Level ATM’s2) Any Time Money ATM’s3) All Time Money ATM’s4) Instant cash ATM’s5) Supply Money ATM’s
- 6) Which Airline has been ranked as the World‘s Best Airline for the second Consecutive year?1) Air2)3) Fly Emirates4) Lufthansa5) None of these
- 7) Who is the director of the Vikram Sarabhai space centre(VSSC) at Present?1) S.P Rao2) P.S Veeraraghavan3) S.D Verma4) L.M Raghavan5) None of these
- 8) Which is the World’s oldest International financial organization?1) International Monetary Fund2) World Bank3) Bank for International settlements4) International Finance Corporation5) None of these
- 9) Expand the Term EEFC?1) Exchange Earners Floating Currency2) Exchange Earners Foreign Currency3) Exchange Earners Flexible Currency4) External Earners’ Foreign Currency5) None of these
- 10) on which date did the Parliament of India celebrated the 60th anniversary of the first sitting of Parliament?1) 21st May2) 9th May3) 26th May4) 13th May5) None of these
- 11) Which sport category made a debut in the1) Women’s Hockey2) Women’s football3) Women’s Basketball4) Women’s Boxing5) Men’s Beach Volleyball
- 12) How much money is being given to people under Indira Gandhi National old Age pension Scheme?1) Rs 2002) Rs 6003) Rs 3004) Rs 4005) Rs 250
- Answer
1)4, 2)4, 3)4, 4)5, 5)1, 6)2, 7)2, 8)3, 9)2, 10)4, 11)4, 12)1
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