51. India has been constantly negotiating for an expansion in the trade in services via Mode 4 as defined under the General Agreement on Trade in Services (GATS). Consider the following pairings regarding different modes of Services under GATS of the WTO : 1. Mode 1 : Cross-Border Supply of Services 2. Mode 2 : Temporary cross-border movement of a natural person to consume services abroad 3. Mode 3 : Cross-border provision of services via the commercial presence of a company in another country 4. Mode 4 : Temporary cross-border movement of service providers
Which of the above are correctly paired ?
Only 1 and 4
Only 2 and 3
Only 1, 3 and 4
All of the above
52. Which among the following are sources of non-tax revenue receipts for the Union Government ? 1. Disinvestment Receipts 2. Spectrum Fees 3. Dividends from Public Sector Undertakings 4. Interest Received on Loans given by the Government
Choose the correct answer from the choices given below :
Only 3 and 4
Only 3
Only 2, 3 and 4
54. Commission for Agriculture Costs and Prices (CACP) submits its recommendation for MSPs of agricultural commodities in form of Price Policy Reports. Consider the following statements : 1. CACP is a statutory body formed under Agriculture Price Commission Act, 1962. 2. Currently MSP is devoid of any legal backing except for Sugarcane to some extent. 3. Before submitting Price Policy Report for any crop, CACP also analyses demand and supply and the implications of MSP on consumers of that product along with the costs of production.
Which among the following statements is/are incorrect ?
Only 1
Only 1 and 3
Only 1, 2 and 3
None of the above
55. Some suggest that India needs to move to an escrow-based payment mechanism to ensure a fearless business environment in the country.
Which of the following correctly describes an escrow account ?
A third-party bank account for safeguarding the buyer from the risk of seller defaulting on the quality of goods and services.
A bank account used by individuals/firms for routing the funds through tax havens for the purpose of tax evasion.
A third-party bank account for safeguarding the seller from the risk of the buyer defaulting on the payment to the seller after having received the goods and/or services.
56. The Mineral Laws (Amendment) Bill, 2020 has recently been passed. Consider the following regarding the same : 1. With the introduction of this Bill, companies which do not have any prior coal mining experience in India can also participate in the auction of coal blocks. 2. Private companies will now be able to undertake coal mining for commercial mining purposes, thereby ending the captive end-use criteria. 3. A composite license namely Prospecting Licence-Cum-Mining Lease has been introduced in the Bill. 4. The revenue sharing model detailed in the Bill is based on recommendations of an expert committee headed by Injeti Srinivas.
Which of the above are true ?