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EconomyHard

By which date must digitisation, including of past records at the Regional Authorities of the DGFT, be completed as directed by the minister?

  1. A.31 March 2027
  2. B.1 April 2027
  3. C.31 December 2026
  4. D.31 March 2028

Correct answer

A. 31 March 2027

Explanation

The correct answer is 31 March 2027, the deadline set for completing the necessary digitisation, including the digitisation of past data and records at the Regional Authorities of the Directorate General of Foreign Trade across the country. Option B is wrong because that is the date from which no person should be required or expected to visit any of the offices physically; it is the start of the new regime rather than the deadline for the work. Options C and D give dates that were not announced. The minister directed that all processes, including applications for licences and permits and SCOMET approvals, should move entirely online. Where original documents still need checking in person, a small counter may be provided, and computers may be placed at office entrances so documents can be verified and uploaded together. Aspirants should keep the two consecutive dates distinct, since the pairing is an obvious trap.

Read the full article: Jaipur Becomes First City With Co-located Commerce Offices

Q3.EconomyMedium

The minister linked the co-location initiative to preparing India to become an economy of what size by 2047?

  1. A.USD 10 trillion
  2. B.USD 20 trillion
  3. C.USD 30 trillion
  4. D.USD 50 trillion
Show answer
Correct answer: C. USD 30 trillion

Highlighting the Ministry's widening responsibilities in the context of several new trade agreements and the opening up of new markets, the minister said India had emerged as a bold and confident economy on the global stage and stressed the need to prepare the country for the goal of becoming an…

Q5.EconomyMedium

Why did the Union Government advance the November instalment of tax devolution?

  1. A.Because the Finance Commission's term was ending
  2. B.In view of the festive season and to help states accelerate capital spending
  3. C.To offset a shortfall in GST compensation
  4. D.Because states had failed to meet borrowing limits
Show answer
Correct answer: B. In view of the festive season and to help states accelerate capital spending

The Ministry of Finance said the early transfer would also let states finance expenditure related to development and welfare.