24 July : Daily Current Affairs Quiz

Answer:  Option C - Providing infrastructure development and basic facilities in 63,000 villages inhabited by Scheduled Tribe families.

Explanation:

• The PM Janjatiya Unnat Gram Abhiyaan aims to provide comprehensive infrastructure development and basic facilities to five crore Scheduled Tribe families across 63,000 villages.
• This initiative focuses on improving living conditions in tribal-majority areas by ensuring access to essential services such as clean water, sanitation, and education.
• The program seeks to uplift these communities by addressing gaps in infrastructure and enhancing overall village development.

Answer:  Option A - Compressed Air Energy Storage (CAES)

Explanation:

• Compressed Air Energy Storage (CAES) is used to convert excess renewable energy into a storable form by compressing air and storing it in underground caverns or tanks.
• When renewable energy sources are intermittent, the compressed air is released, heated, and expanded to drive turbines, generating electricity.
• This technology helps balance supply and demand, ensuring a stable energy supply and optimizing the use of renewable resources.

Answer:  Option C - To adjudicate issues related to corporate disputes and insolvency proceedings.

Explanation:

• The National Company Law Tribunals (NCLTs) in India primarily function to adjudicate issues related to corporate disputes and insolvency proceedings.
• They handle cases involving the Companies Act, 2013, and the Insolvency and Bankruptcy Code, 2016.
• NCLTs aim to provide a faster resolution mechanism for corporate legal matters, thereby promoting a more efficient and effective corporate regulatory environment and ensuring the protection of stakeholders' interests.

Answer:  Option B -  To stimulate economic growth through infrastructure development and job creation.

Explanation:

• The increased capital expenditure (capex) budget in India's Union Budget 2024 aims to stimulate economic growth by investing in infrastructure development and job creation.
• This approach is intended to enhance productivity, improve connectivity, and generate employment opportunities across various sectors.
• By focusing on capex, the government seeks to lay a strong foundation for long-term economic growth and development, while also addressing immediate needs for robust infrastructure.

Answer:  Option B - The standard deduction for salaried employees under the new tax regime increased from ₹50,000 to ₹75,000.

Explanation:

• In the Union Budget 2024, Finance Minister Nirmala Sitharaman announced changes to the income tax regime.
• The standard deduction for salaried employees increased from ₹50,000 to ₹75,000, and the tax slab of ₹3-6 lakh was revised to ₹3-7 lakh, with the 5% tax rate unchanged.
• Additionally, the deduction on family pension for pensioners increased from ₹15,000 to ₹25,000, providing relief to about 4 crore individuals.