Page 254 - General Knowledge

GENERAL KNOWLEDGE 2019

 Here are the highlights of Union Budget 2014 tabled by Finance Minister Arun Jaitley.
 Tax proposals on indirect tax front would yield Rs 7,525 crore.
 Indian Custom Single Window Project to be taken up for facilitating trade.
 Clean energy cess increased from Rs 50/tonne to Rs 100/tonne.
 Additional 5% excise tax to be levied on aerated drinks with added sugar.
 Tobacco products also to get costly as excise duty hiked to 72%.
 Government announces reduction in excise duty for specified food package industry from
10% to 6%.
 Excise duty on footwear reduced from 12% to 16%.
 Government announces measures to encourage manufacture of LCD/LED panels of TVs.
 Housing loan rebate to raise from Rs1.5 lakh to Rs2 lakh.
 Net effect of direct tax proposals is revenue loss of Rs 22,200 crore.
 Government proposes to increase investment limit under Section 80C from Rs 1 lakh to Rs
1.5 lakh.
 Tax exemption limit for small and marginal, and senior tax payers changed from Rs 2.0 to Rs
2.5 lakh.
 For senior citizens, no tax for income up to Rs 3 lakh per annum.

Infrastructure status of Union Budget 2017
 Capital infusion of Rs10, 000 crore for recapitalization of PSU Banks will be a morale booster
in scenarios where Banks are in dire need of capital for Credit growth and Basel III
compliance.
 Further, the deductions allowed for NPA provisions made by banks have been increased
upto 8.5% of the income which will act as a breather in supplementing profitability of banks,‖
said Ashwani Kumar, chairman and managing director, Dena Bank.
 According to another public sector banker who spoke on conditions of anonymity, the
increase in allowable provision could have been slightly higher as the banking sector‘s NPA
troubles are very big.
 ―With some higher tax deductions, banks could have gotten a higher tax write back and that
could have helped the bank books,‖ the anonymous banker said.
 In the budget announcement, the finance minister also talked about allowing asset
reconstruction companies (ARCs) to list the security receipts they issue against bad loans on
stock exchanges registered with the Securities and Exchanges Board of India (Sebi).

7. INTERNATIONAL ECONOMIC ORGANISATIONS
 An international organization is an organization with an international membership, scope, or
presence.
 There are two main types: International nongovernmental organizations (INGOs) and Non-
governmental organizations (NGOs) that operate internationally.
International Monetary System

 The International Monetary Fund (IMF) and the International Bank for Reconstruction and
Development (IRBD or World Bank hereafter) are among the most well-known and criticized
international organizations primarily because of the influence they exert over member
countries‘ economic choices.

250 | P a g e shop.ssbcrack.com