Current Affairs Questions & Answers - Aug 31, 2016

1)   What does LEMOA stand for in the context of defence logistics?

a. Logistics Exchange Memorandum of Agreement
b. Local Exchange Memorandum of Agreement
c. LIBOR Exchange Memorandum of Agreement
d. None of the above
Answer  Explanation 

ANSWER: Logistics Exchange Memorandum of Agreement

India and the United States signed a logistics pact on 29th August during Defence Minister Manohar Parrikar’s visit to the American nation.

  • LEMOA stands for Logistics Exchange Memorandum of Agreement, a tweaked Indian specific version of the Logistics Support Agreement which the US has with several nations that have close military to military cooperation
  • It is also one of three foundational agreements- the other two are Communications Interoperability and Security Memorandum of Agreement and Basic Exchange Cooperation Agreement for Geospatial Cooperation
  • These agreements are formed between US and countries it has close military ties with.
  • These foundational agreements are meant to build basic groundwork and promote interoperability between militaries by creating common standards and systems
  • LEMOA provides access to countries for designated military facilities on either side for refuelling and replenishment
  • Agreement will cover four areas port call, joint exercises, training and humanitarian assistance and disaster relief.
  • Requirement agreed has to be carried out on case by case basis though this is not a basing agreement

2)   Which state became the 12th to pass the landmark tax reform GST bill?

a. Assam
b. Manipur
c. Mizoram
d. Sikkim
Answer  Explanation  Related Ques

ANSWER: Sikkim

Eleven states -- Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Madhya Pradesh, Maharashtra and Nagaland, have already ratified the Bill.

  • Sikkim Assembly ratified the GST Bill as a Constitutional Amendment Bill on GST.
  • The Constitution (122nd Amendment) Bill, 2014 on GST was passed by Parliament recently and it needs to be ratified by at least 15 state legislatures before
  • The President can notify the GST Council which will decide the new tax rate and other issues. The government has set April 1, 2017 as target for rolling out GST, considered as the biggest tax reform.
  • Meanwhile, Mizoram Assembly ratifies GST Mizoram Assembly today ratified the Goods and Services Tax (GST) Constitutional Amendment bill by adopting an official resolution, becoming 13th state to have approved the legislation.
  • The state legislature unanimously adopted the official resolution moved by Finance and Taxation Minister Lalsawta after deliberations on the first day of the Assembly.
  • Telangana Legislature ratifies GST Bill The Telangana Legislature on 30th August unanimously ratified the Goods and Services Tax Constitutional Amendment Bill, becoming 14th state to have approved the legislation that will pave the way for roll-out of a single and unified tax system in the country.
  • While manufactured consumer goods will become cheaper as the incidence of excise duty and VAT will come down from 25-26 per cent at present, the cost of services would by and large, go up from the present 15 per cent levy.
  • The Constitution Amendment Bill passed by Parliament needs to be ratified by more than half of the total states before it could be sent for Presidential assent.
  • So far, 12 states have ratified the Bill.

3)   FICCI Economic Survey pegged India’s economy at which figure during the current financial year?

a. 7.6 percent
b. 7.7 percent
c. 7.8 percent
d. 7.9 percent
Answer  Explanation  Related Ques

ANSWER: 7.8 percent

As per a FICCI survey, India’s economy is likely to expand by 7.8 percent during the current financial year.

  • There has been marginal improvement in growth estimate for 2016-2017
  • RBI also pegged the growth rate at 7.6 percent in 2016-2017
  • FICCI’s Economic Outlook survey put median GDP growth forecast of 7.8 percent for the current fiscal year. Further, the estimated median GVA (gross value added) growth for Q1 FY17 has been put at 7.6 percent.
  • The survey was conducted during July-August among leading economists belonging to the industry, banking and financial services sector.
  • The trade body also said the median growth forecast for IIP has been put at 3.5 percent for the year 2016-17, with a minimum and maximum range of 2 percent and 4.3 percent, respectively. Median inflation forecast for 2016-17 has noted a marginal increase in comparison to the previous round.
  • The median forecast for Wholesale Price Index based inflation rate for 2016-17 has been put at 2.4 percent while for Consumer Price Index it is 5.2 percent.

4)   Which famous actor who starred in Willy Wonka and the Chocolate Factory passed away recently?

a. Gene Wilder
b. Johnny Depp
c. Pierce Brosnan
d. None of the above
Answer  Explanation 

ANSWER: Gene Wilder

Gene Wilder who starred in Willy Wonka and the Chocolate Factory and the Blazing Saddles, died at 83 from complications of Alzheimer’s disease.

  • He is well known for producer director Mel Brooks, who cast him in "Blazing Saddles," "Young Frankenstein" and "The Producers" in the 1960s, '70s and '80s.
  • Besides his classic collaborations with Brooks, Wilder paired memorably with comedian Richard Pryor in hits "Silver Streak" and "Stir Crazy.”
  • He also promoted ovarian cancer awareness after wife Gilda Radner passed away from this disease.

5)   Which eminent Dogri author won the Saraswati Samman for 2015?

a. Padmavati Sachdev
b. Padma Singh
c. Manisha Sachdev
d. Padma Sachdev
Answer  Explanation 

ANSWER: Padma Sachdev

Eminent Dogri author Padma Sachdev won the Saraswati Samman 2015 for her autobiography Chitt-Chete.

  • The 76 year old poet and novelist’s work was shortlisted from 22 written works
  • She is the first modern woman poet of Dogri language and has also won the Sahitya Akademi award in 1971
  • She received the Padma Shri and the Kabir Samman as well
  • She has 60 books to her credit
  • Award called Saraswati Samman is among the highest literary honours in India
  • Instituted by the KK Birla Foundation in 1991, it was named after Goddess Saraswati who expounded learning
  • The inaugural award was given to Harivanshrai 'Bachchan' for his four volume autobiography, Kya Bhooloon Kya Yaad Karoon, Needa Ka Nirman Phir, Basere Se Door and Dashdwar se Sopan Tak.

6)   Which country celebrated its Independence day on Aug 31, 2016?

a. Malaysia
b. Kyrgyzstan
c. Afghanistan
d. Uzbekistan
Answer  Explanation 

ANSWER: Kyrgyzstan

The President of India, Shri Pranab Mukherjee has extended his greetings and felicitations to the Government and people of Malaysia on the eve of their National Day (August 31, 2016).
Almu’tasimu Billahi Muhibbuddin Tuanku Alhaj Abdul Halim Mu’adzam Shah Ibni Almarhum Sultan Badlishah, The Yang di-Pertuan Agong XIV is its current president

  • The President also extended greetings to people of Kyrgyzstan for their independence day on 31st August.
  • His Excellency Mr. Almazbek Atambaev is the current the President of the Kyrgyz Republic
  • People of Trinidad and Tobago also celebrated their National Day
  • Anthony Thomas Aquinas Carmona is the president of this nation.