Economy Current Affairs
June 1st Week 2015 current affairs
Category : Economy Current Affairs
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 1)   Status of the societies to the applicants and Certificates issued to the societies will be given though the new website for Multi Cooperative Societies launched by Agriculture Minister recently. Who is the Agriculture Minister? 

Ans : (1)
1. Radha Mohan singh & sanjeevbalyan
2. Radheshyam& sunder Barora
3. Sanjay Arora & RakeshKulguptha
4. Giridhar Singh
5. None

Explanation: The portal will provide easy access of information relating to the status of the societies to the applicants as well as to the general public. Initially the website shall facilitate access of information like status of applications, notices, orders, certificates issued to the societies and contact details of officers. It shall also provide link to the websites of the offices of State Registrars of Cooperative Societies.


 2)Recently Except whom, the Supreme Court barred publication of photos of leaders in government advertisements ?

 Ans : (1)
1. President, Prime Minister and the Chief Justice of India.
2. President, Prime Minister and the Chief Minister.
3. President, Vice President and Prime Minister.
4. President, Prime Minister, Chief Minister and Chief Justice of India.
5. None

Explanation: A bench headed by Justice RanjanGogoi approved the suggestions given by a three-member committee on regulation of public advertisements, barring a few exceptions. It rejected the stand of the central government that judiciary should not encroach into government policies and executive decisions and said that they can step in if there is no policy or law in place.


 3) The Government approved the procurement of how many helicopters for anti-naxal operations which are meant for Border Security Force? 

Ans : (3)
1. 7
2. 9
3. 8
4. 10
5. 12

Explanation: besides anti-naxal operations, these helicopters will also be deployed for disaster management functions and fulfills the requirements of the National Security Guards. The first batch of two helicopters was inducted in BSF Air Wing.


 4) USD 250 Million of money will be invested by the government over the next how many years in coal, power, and renewable energy to meet the power crises in the country?

 Ans : (5)
1. 1
2. 2
3. 3
4. 4
5. 5

Explanation: Addressing a seminar on Challenges in enhancing coal production in New Delhi on 13th may’15, Power and Coal Minister PiyushGoyal said that government is also planning to open 40 to 50 coal mines in next one and half years to increase the production and productivity of coal.


 5) 5% & 10% percent of disinvestment was approved by the Union Cabinet recently in National Thermal Power Corporation Limited and in which other Corporation?

 Ans : (3)
3. Indian Oil Corporation
4. Power Grid
5. OIL

Explanation: The proposed share sale of 5 per cent in NTPC will fetch the government 5,565 crore rupees while that of 10 per cent in IOC will bring in 7,932 crore rupees. Thus, the stake sale in both companies will help the government mop up over Rs 13,000 crore.


 6) Which Bollywood Celebrity has once again been summoned by the Enforcement Directorate in connection with the ongoing investigations into Indian Premier League?

 Ans : (1)
1. Sharukh Khan
2. Salman Khan
3. ShilpaShetty
4. PreityZinta
5. None

Explanation: The ED is investigating two separate sale of shares by Kolkata Knight Riders in 2009 and 2010. An audit by ED concluded that Kolkata Knight Riders` shares were undervalued during these two transactions. ED had also summoned the actor last month for questioning.


 7) Hyderabad became ……………………….in India to get Google Street View as announced recently? 

Ans : (3)
1. Second
2. Third
3. First
4. Last
5. None

Explanation: Google Street View is a technology featured in Google Maps and Google Earth that provides panoramic views from positions along many streets in the world. It was launched in 2007 in several cities in the United States, and has since expanded to include cities and rural areas worldwide. Streets with Street View imagery available are shown as blue lines on Google Maps

 8) Recently, Supreme Court dismissed a bunch of petitions filed by various telecom companies, including Vodafone and Bharthiairtel , seeking extension of their how many years spectrum Licenses? 

Ans : (1)
1. 20
2. 23
3. 12
4. 19
5. 18

Explanation: Petitioners were seeking extension of their 20-year spectrum licenses by another 10 years. The telecom operators had also challenged the government`s decision to reject their applications for extension of their licenses and auction the spectrum surrendered by them.


 9) Name the city where , Prime Minister NarendraModi held Summit level talks with Chinese President Xi Jinping recently in China? 

Ans : (4)
1. Xian
2. Beijing
3. Guangzhou
4. Shanghai
5. None

Explanation: Prime Minister NarendraModi and Chinese President Xi Jinping held talks at Xian in China. The talks lasted for about 90 minutes during which the two leaders discussed wide ranging issues including peace and tranquility on the border, trade imbalance and investment climate.


 10) Union Minister for Minorities Welfare started Ustav Yojana scheme which boosts the skill of artisans, craftsmen and weavers who are already engaged in their work, from Varanasi. Who is Union Minister for Minorities Welfare?

 Ans : (1)
1. NazmaHeptullah
2. Rajnath Singh
3. SadanandaGowda
4. Uma Bharathi
5. NitinGadkari

Explanation: Under the scheme, the artisans and weavers will not only get training and skill orientation but also they will be given help to sell their products.


 11) Tolkappiyar is the award given by President for lifetime achievement in Classical to SV Shanmugam for 2011-12 and R Krishna murthi for 2012-13 belongs to which language? 

Ans : (1)
1. Tamil
2. Telugu
3. Kannada
4. Oriya
5. Bengali

Explanation: President Pranab Mukherjee on 14th May’15 conferred the Presidential Awards for Classical Tamil for the years 2011-12 and 2012-13 on scholars for their outstanding contribution to the development of Classical Tamil language and literature.


 12) Eva Maria Wilden has been conferred with the KuralPitam Award by the President of India for the year 2011-12 for which languge as a non-Indian Origin? 

Ans : (2)
1. Telugu
2. Tamil
3. Kannada
4. Oriya
5. Gujrathi

Explanation: KuralPitam Award is given to eminent scholars of Classical Tamil of non-Indian origin


 13) Minister of State for Power and Coal inaugurated the New Solar Passive Building of the National Institute of Solar Energy at Gurgaon . Who is the Minister?

 Ans : (1)
1. PiyushGoyal
2. Nitingadkari
3. Nazmaheptullah
4. Raj nathsingh
5. None

Explanation: The National Institute of Solar Energy (NISE) is the apex National Centre of research and development in Solar Energy under administrative control of the Ministry of New & Renewable Energy, Government of India. It coordinates solar energy research & technology related work in the country under the Jawaharlal Nehru National Solar Mission (JNNSM).


 14) Amtrak train going from Washington to which place was derailed recently? 

Ans : (2)
1. Kensas city
2. New York
3. Boston
4. Canada
5. Milwaukee

Explanation: According to safety experts an Amtrak train derailed in Philadelphia, killing at least seven people was travelling at twice the speed limit.


 15) A two-day international conference on Conservation of natural and cultural values of which National Park was held at Sikkim? 

Ans : (1)
1. Khangchendzonga National Park
2. Jawaharlal Nehru National park
3. Hemis National park
4. Kaziranga national park
5. Ranthambore National Park

Explanation: The Khangchendzonga National Park was reportedly selected as one of the top 100 Green destinations in the world last year, while a proposal to nominate it as a World Heritage Site has been posed to the UNESCO. The conference assumes significance in view of a proposal from the State Government for declaration of the Kanchenjungha National Park as a World heritage site remains under consideration of the UNESCO.

 16) Among the following, which state’s High Court prohibited credit cooperative societies in the state from accepting deposits from people without getting licence from the RBI? 

Ans : (3)
1. Maharashtra

2. Gujarat
3. Rajasthan
4. Uttar Pradesh
5. Goa

Explanation: The division bench headed by Chief Justice Sunil Ambwani gave the orders while hearing a PIL which had raised suspicion on the credibility of the societies in terms of the deposits taken from non-members. The court observed that these societies are carrying out banking activities without any permission from RBI. The court also considered the ATM installations by these societies as a banking activity. In its order, the bench said that the societies` directors will have to return the entire deposited amount to the depositors as per rules.


 17) An international level museum at a cost of Rs 30 crore to display significant archaeological findings, is going to set up by the Govt, In Panchkula district. This district is in which state? 

Ans : (2)
1. Punjab
2. Haryana
3. Rajasthan
4. Delhi
5. Telengana

Explanation: The work to set up museum at Panchkula would commence within next 3 to 4 months, the work on museum at Rakhigarhi would be taken up within a month. A state-level museum at a cost of Rs 5 crore will also be set up at Rakhigarhi village in Hisar district to display various items excavated at Rakhigarhi which is the biggest site of Harappan civilization in the South-east Asia.


 18) Wholesale Inflation dropped to a new low of -2.65% in April 2015. So Deflationary pressure continued for the how much times straight month?

 Ans : (1)
1. 6
2. 5
3. 7
4. 8
5. 2

Explanation: This was largely due to a fall in the prices of fuel and manufactured items. Inflation, as measured by the Wholesale Price Index, was 5.55 per cent in April 2014.


 19) By 5.25% percent which among the following crop output is going to fall in the 2014-15 year? 

Ans : (1)
1. Food Grains
2. Mango
3. Oil seeds
4. Pulses
5. Sugar cane

Explanation: India`s food grain production is estimated to have declined by 5.25 per cent to 251.12 million tonnes in 2014-15 crop year. The country had registered a record food grain production of 265.04 million tonnes in 2013-14 crop year. The production of most of the Kharif crops fell because of the poor monsoon last year and Rabi crops due to the recent unseasonal rain and hailstorms.


 20) Tejaswini is the youngster who won her maiden world title by bagging the which medal in the under-15 category of World School Chess Championships?

 Ans : (2)
1. Silver
2. Gold
3. Bronze
4. All above
5. None of these

Explanation: In the event that concluded at Pattaya, Tajaswini - Aurangabad-girl defeated Kavinya Miyuni Rajapaksa of Sri Lanka in the ninth and final round.


 21) Punjab state’s sports department in collaboration with which country Trade Commission is going to launch a state wide sports awareness campaign?

 Ans : (3)
1. Canada
2. Pakistan
3. Australia
4. South Africa
5. New Zeeland

Explanation: state wide joint campaign to promote sports culture would witness interactive session in the presence of renowned international sportspersons with budding players motivating them to participate in international level tournaments.And also known Australian players would also impart technical sports training to the players. Melanie Jones, former Australian Cricket player, would also grace the occasion

 22) Agreements signed between India and China for bilateral cooperation in several areas including economy, trade, science and technology and culture are …………….? 

Ans : (1)
1. 24
2. 11
3. 9
4. 16
5. 29

Explanation: These agreements include enhancing cooperation in Railways, mineral and mining sectors, space, tourism, trade, vocational education and skill development. Both the countries will also establish Additional Consulate General. Both the countries have also agreed to establish China-India think tank forum and three sister cities.


 23) Dooradarshan, signed an agreement with which country’s television channel for exchange of television programmes related to art, culture and development? 

Ans : (2)
1. Japan
2. Chaina
3. Indonesia
4. Nepal
5. Australia

Explanation: PrasarBharathi CEO JawharSircar, who signed the agreement on behalf of India in Beijing on 15th May’15, said that the agreement enables both Doordarshn and CCTV to share programmes on their networks free of cost.


 24) Name the ministry that decided to launch a nation-wide unique and single emergency response number that can be used in case of any emergency, especially by women in distress? 

Ans : (4)
1. Ministry of Social Justice
2. Ministry of Human Resources
3. Ministry of Health & Family Welfare
4. Ministry of Home Affairs
5. None

Explanation: On 15th May’15 the Ministry said, it has invited proposals from reputed companies to participate in the competitive bidding process for implementation and maintenance of the Nationwide Emergency Response System. It was felt that various emergency call numbers like Police, Fire and Ambulance could be integrated into one to not only act as receivers of emergency calls but also as responders in a very quick time. The project will also integrate all smart communication facilities like calls, SMS and online chat platforms into one.


 25) 109th Birth Anniversary of which freedom fighter was celebrated on 15th May 2015? 

Ans : (1)
1. Sukhdev
2. Bhagath Singh
3. Gopal Krishna Gokhale
4. Sardarvallabhai Patel
5. Dr. rajendra Prasad

Explanation: ShaheedSukhdev was the close associate of Bhagat Singh and Rajguru. The trio laid down their lives for the freedom of the country. Punjab government has organised a state level function in the memory of Sukhdev at Ludhiana.


26) Recently to whom among the following did the Vice President Shri M. Hamid Ansari conferred the “Pt. Haridutt Sharma Award” in the field of Journalism, Writing and Social Services? 

Ans : (3)
1. PratibhaPatil
2. JhumpaLahiri
3. Anurradha Prasadbr

4. AradhnaKumari 
5. None

Explanation: Anurradha Prasad, Editor-in-Chief-News-24 Channel awarded in the field of Journalism, Writing and Social Services. Pt. Haridutt Sharma was a renowned journalist and eminent writer. In his memory, this Annual award is given in the field of Journalism, Writing and Social Services for the outstanding contribution in their respective field.


 27) Nuclear Energy : A ‘Clean’ Energy Option is the theme of the 6th National Conference on Nuclear Energy that was organized by …………………in New Delhi recently? 

Ans : (1)
5. NIN

Explanation: The Associated Chambers of Commerce and Industry of India (ASSOCHAM) is one of the apex trade associations of India. The organisation represents the interests of trade and commerce in India, and acts as an interface between industry, government and other relevant stakeholders on policy issues and initiatives. The goal of this organization is to promote both domestic and international trade, and reduce trade barriers while fostering conducive environment for the growth of trade and industry of India.


 28) Kayakalp award has been launched by the Union Minister for Health and Family Welfare, to public health recently . Who is the Minister? 

Ans : (1)
1. Shri J. P. Nadda
2. NazmaHeptullah
3. Raj nathsingh
4. SadanandaGowda
5. SushmaSwaraj

Explanation: The Health Minister stated that the “Kayakalp” initiative will encourage every public health facility in the country to work towards standards of excellence to help the facilities stay clean and hygienic. This does not apply only to physical cleanliness, but to develop and put in place systems and procedures for activities such as bio-waste disposal or protocols etc.


 29) Recently. Minster of Road Transport, Highways and Shipping, launched the state of the art integrated data collection system. Who is the Minister? 

Ans : (2)
1. Venkaiih Naidu
2. Nitingadkari
3. Nazmaheptullah
4. ArunJaitley
5. Uma Bharthi

Explanation: Laser technology.would use this system that compiles information on road assets, condition of the pavements and traffic The outcome of integrated data collection system will assist in developing an accurate and scientific maintenance planning mechanism, finalizing road safety measures and development of the National Highways network in India. The data collected will be stored and managed through a web based application, which will be hosted in the public domain. The application, when fully developed, can also be accessed by smart phones. Information collected from this project will be useful for Transport Ministry, Finance Ministry, NHAI, State PWDs, Police departments, funding agencies, developers and citizens. The software will be equipped to interface with the indigenous Bhuvan satellite images. The survey vehicle is equipped with three cameras including pavement view, 15 advanced Lasers and GPS connected to Gagan satellite.


 30) Ministry of Urban Development for cooperation approved …………… offer in conducting the ‘Cities Challenge’ competition for selecting the cities for financing under the Smart Cities Mission of the Government?

Ans : (1)
1. Bloomberg Philanthropies
2. BBC
3. Future Group
4. KTR Group
5. None of these

Explanation: Bloomberg Philanthropies will act as Knowledge Partner for the Smart Cities Mission. The Mission for building 100 Smart Cities was approved by the Union Cabinet on April 29, 2015. Under this Mission, central government will spend Rs. 48,000 Cr. over the next five years for providing an assistance of Rs.100 cr per year for each selected city.

  31) which country announced its plans to reduce the greenhouse gas emissions by 30 % below 2005 levels by 2030 amid international efforts to create a new frame work for addressing climate change?

 Ans : (2)
1. USA
2. Canada
3. South Africa
4. China
5. Japan

Explanation: The US has committed to a 26 per cent to 28 per cent cut by 2025 from 2005 levels. The European Union has a target of 35 per cent below 2005 levels by 2030. Japan is proposing to cut its greenhouse gas emissions by up to 26 per cent by 2030.


 32) 40th edition of anniversary of joining the Indian Union is Sikkim celebrated on which day? 

Ans : (1)
1. 16th may
2. 17th may
3. 18th may
4. 19th may
5. 20th may

Explanation: It was on this day in 1975 that this erstwhile Kingdom joined the Indian Union as its 22nd State following the 38th Constitution amendment.


 33) State Bank of India launched contact-less credit and debit cards called sbilNTOUCH on which day? 

Ans : (2)
1. 19thMay’
1. 14thMay’
1. 24thMay’
1. 4thMay’
1. 11thMay’

Explanation: With these cards, a customer can transact by just tapping or waving it against the reader of the point-of-sale machine.


 34) Recently, Maharashtra state government banned the digging of borewells beyond how much feet in the state ?

 Ans : (1)
1. 200
2. 250
3. 500
4. 1000
5. 100

Explanation: with a view to check the steep decline of groundwater-level, The decision came in wake of increase in the digging of new borewells by farmers and private players due to water scarcity during the summers.


 35) Japan scientist discovered a metal having a new state of matter with a rich combination of insulating, magnetic, metallic and superconducting phase. What is the name of it?

 Ans : (1)
1. Jahn-Teller
2. Jaho-Tel
3. John-Tent
4. Jahnavi-Telu
5. None

Explanation: The research provides important clues about how the interplay between the electronic structure of the molecules and their spacing within the lattice can strengthen interactions between electrons that cause superconductivity.


36) Chimediin Saikhanbileg is the present Prime Minister of which country?

Ans : (2)
1. Zambia
2. Mangolia
3. Cuba
4. Cambodia
5. Norway

Explanation: ChimediinSaikhanbileg is the present Prime Minister of Mongolia. A member of the Democratic Party, Saikhanbileg was appointed prime minister following a motion of no confidence, and has since been tasked with improving Mongolia`s slowing economy and foreign investment.


 37) Recently, Prime Minister NarendraModi announced a line of credit of one billion US Dollars to support expansion of which country’s Economic Capacity and Infrastructure?

 Ans : (1)
1. Mangolia
2. Zambia
3. Norway
4. Cuba
5. cambodia

Explanation: Prime Minister NarendraModi announced a line of credit of one billion US Dollars to support expansion of Mongolia`s economic capacity and infrastructure. Earlier, India and Mongolia signed 13 agreements to further strengthen bilateral ties in different sectors. India will establish a Cyber Security Training Centre for Defence Ministry of Mongolia. Indian and Mongolian National Security Council‘s will hold regular consultations on traditional and non-traditional security issues, counter terrorism and intelligence cooperation.


 38) At how much percent of GDP the government has contained the fiscal deficit against its own target of 4.1 per cent for the financial year 2014-15? 

Ans : (4)
1. 4.3%
2. 5.2%
3. 3.2%
4. 4%
5. 5%

Explanation: The government has contained the fiscal deficit at 4 per cent of GDP against its own target of 4.1 per cent for the financial year 2014-15, while it was 4.4 per cent during 2013-14. An official statement said as a result of prudent policies and commitment to fiscal consolidation, the fiscal deficit at the end of 2014-15 stands over five lakh crore rupees. The revenue deficit has also been confined to 2.8 percent, beating the budget target of 2.9 per cent for the last fiscal.

 39) Name the country for which the Prime Minister NarendraModi will visit on the last leg of his three nation visit during 18-19th May’15?

 Ans : (2)
1. North Korea
2. South Korea
3. Vietnam
4. Japan
5. China

Explanation: After wrapping up his successful visit to China and Mongolia, Prime Minister will be in South Korea on 18th & 19th May. During the visit, he is scheduled to hold summit level talks with the President of South Korea Ms. Park Geun-Hye. He will also be accorded a public reception by the Indian Community at the Kyung Hee University in Seoul on 18th May 2015.


 40) India & China are the two countries accounted for how much percent of the total global gold consumer demand in the first quarter of the year 2015?

 Ans : (1)
1. 54%
2. 55%
3. 60%
4. 70%
5. 12%

Explanation: According to a the Gold Demands Trends report prepared by the World Gold Council, demand for Jewellery, still the most significant component of overall demand, totalled over 600 tonnes in the first quarter of 2015, three per cent lower than the last year.


 41) Recently, Russian president played in an exhibition ice hockey game with retired NHL players and scored how many goals? 

Ans : (3)
1. 2
2. 4
3. 8
4. 9
5. 10

Explanation: Russian President Vladimir Putin played in an exhibition ice hockey game with retired NHL players and scored eight goals. Putin’s team won 18-6, with most of the 62-year-old president’s goals coming on assists from NHL stars PavelBure and ValeriKamensky. The game was played in Sochi, the city that hosted the 2014 Winter Olympics.


 42) Opah is the world’s first fully warm-blooded species of which animal discovered by researchers from the National Oceanic and Atmospheric Administration (NOAA)?

 Ans : (3)
1. Kangaroos
2. Crocodiles
3. Fishes
4. Snakes
5. Rats

Explanation: These fishes are found in the deep waters off the US, Australia and several other countries.


 43) 17th may is the Constitution Day of which country?

 Ans : (3)
1. Cuba
2. Zambia
3. Norway
4. Afghanisthan
5. Indonesia

Explanation: Norway’s Constitution Day is celebrated on May 17. It commemorates the date when the nation`s constitution was signed at Eidsvoll on May 17, 1814. It is usually referred to as syttendemai (May 17) or Nasjonaldagen (The National Day) in Norwegian.


 44) The 68th Session of the World Health Assembly (WHA) is scheduled in which country recently? 

Ans : (4)
1. Britain
2. South Africa
3. Brazil
4. Geneva
5. India

Explanation: Minister of Health & Family Welfare ShriJagatPrakashNadda will preside over the 68th Session of the World Health Assembly (WHA) at Geneva as India assumes the Presidency of the WHA, the high decision making body of the World Health organisation (WHO), after a gap of 19 years. The Union Minister is leading a high level Indian delegation to the WHA, to be held in Geneva during 18-27 May, 2015.


 45) GaganNarang won which medal in the 50m Rifle Prone Event of the ISSF World Cup at Fort Benning in USA?

 Ans : (1)
1. Bronze
2. Gold
3. Silver
4. Platinum
5. None

Explanation: GaganNarang won the bronze medal in the 50 metre Rifle Prone Event of the ISSF World Cup at Fort Benning in the US on 15th May’15. He has earned himself a quota place for the 2016 Rio Olympics.


 46) Chennai, Hyderabad & Aurangabad are the three Indian cities that will have Sister Cities in which country as proposed in the 24 agreements signed between India and that country?

 Ans : (2)
1. Japan
2. China
3. Mangolia
4. South Korea
5. Bhutan

Explanation: The Sister Cities will be Chennai-Chongqing, Hyderabad-Qingdao and Aurangabad-Dunhuang. Sister Cities exchange notes and look to bring synergy in various areas including education, culture, sports, youth affairs, urban planning, waste water management, infrastructure, environment, public health and exchange of trade and commerce. During President Xi Jinping`s visit to India in September 2014, an agreement was signed establishing Sister City relationship between Ahmedabad and Guangzhou. Gujarat and Guangdong had become Sister Provinces


 47) Name the state that will have province ties with Sichuan province of China?

 Ans : (4)
1. Andhra Pradesh
2. Maharashtra
3. Goa
4. Karnataka
5. Telengana

Explanation: It is a province in southwest China. The capital is Chengdu, a key economic centre of Western China


 48) VasantDattatrayGurjar is the of the ‘Gandhi Mala Bethala’ – It is which languge Poem?

 Ans : (1)
1. Marathi
2. Telugu
3. Oriya
4. Bengali
5. Tamil

Explanation: The Marathi poem `Gandhi Mala Bhetla` (I met Gandhi) was written in 1984 but Tuljapurkar had published it in the bank`s magazine in 1994. The Supreme Court said Marathi poet VasantDattatrayGurjar, who had written a political satire on the father of nation, will face trial for using obscene words.


  49) ArvindPanagariya launched the website of NITI Aayog. The full form of NITI is …….? 

Ans : (1)
1. National Institution for Transforming India
2. National Institute for Transport India
3. National Indian Transforming Institute
4. National Indo-Tibet Institute
5. National Indo-tech institute

Explanation: The Vice Chairman of NITI Aayog, Dr. ArvindPanagariya launched the website of NITI Aayog in New Delhi. The website will provide details of the constitution, functions and current activities of the Aayog. The reports prepared by the institution in its initial stages have also been shared on the website. The website has a unique feature of NITI Blogs, which will incorporate articles, field reports, work in progress, and opinions by NITI officials.


 50) Among the following , Which state’s legislative assembly was addressed by the President of India recently? 

Ans : (1)
1. Uttarakhand
2. West Bengal
3. Assam
4. Jammu & Kashmir
5. None

Explanation: President Pranab Mukherjee addressed the special session of Uttrakhand Legislative Assembly.