Contemporary Events: India: UPSC Previous Year Questions (General Knowledge)

Explanation

Statement 1 is incorrect: Global Trust Bank (GTB) was merged with Oriental Bank of Commerce (OBC) on 14th August 2004, not Punjab National Bank (PNB), after financial instability.

Statement 2 is correct: The 2003 Kelkar Committee report retained its tax reform recommendations, including abolishing housing loan tax exemptions. However they were not fully implemented due to opposition from various stakeholders.

Explanation

The Investment Commission was formed in December 2004 by the Government of India to promote and facilitate investment in the country. It had three members Ratan Tata (Chairman), Deepak Parekh, Ashok Ganguly.

Explanation

Kakinada - Known for its biodiesel plant. In 2005, Naturol Bioenergy Limited announced plans to set up a 300 tons per day biodiesel plant in Kakinada. Dundigal - Home to the Indian Air Force Academy. The Air Force Academy is located in Dundigal, near Hyderabad. Margao - Associated with the Sky Bus Metro rail test-run. The Sky Bus Metro project was tested in Margao, Goa. Bhadrachalam - Location of an ITC paper board unit. ITC has a significant paperboard manufacturing facility in Bhadrachalam.

Explanation

Statement 1 is incorrect: The Second World Buddhist Summit was held in in Lumbini, Nepal, from November 30 to December 2, 2004. The first summit was held in Thailand in November 2000.

Statement 2 is incorrect: The World Punjabi Conference in December 2004 was conducted in Haryana (Kurukshetra, Ambala, and Panipat) from December 11.

Statement 3 is correct: The 4th Meeting of the SAARC Trade Ministers was held in Islamabad in November 2004.

Explanation

A - 4 (V.R.S. Natrajan - Bharat Earth Movers Limited) V.R.S. Natrajan was the Chairman and Managing Director (CMD) of BEML. BEML is a public sector company that manufactures railway coaches, defense equipment, and heavy machinery for mining and construction. B - 1 (A.K. Puri - Bharat Heavy Electricals Limited) A.K. Puri served as the CMD of BHEL, India’s largest power generation equipment manufacturer. BHEL plays a key role in the energy sector, producing turbines, boilers, and transformers for thermal, hydro, and nuclear power plants. C - 2 (V. Thulasidas - Air India) V. Thulasidas was the CMD of Air India, India’s national airline. D - 3 (Jagdish Khattar - Maruti Udyog Limited) Jagdish Khattar was the Managing Director of Maruti Udyog Limited (now Maruti Suzuki), India’s leading car manufacturer. He played a crucial role in Maruti’s expansion, launching new models like the Swift, and improving customer service standards.

Explanation

In 2005, Onkar S. Kanwar, Chairman of Apollo Tyres Ltd., served as the President of the Federation of Indian Chambers of Commerce and Industry (FICCI). Harsha Vardhan Agarwal is the current President of FICCI.

Explanation

Statement 1 is incorrect: India’s foreign exchange reserves did exceed the $125 billion mark during 2004. According to the Economic Survey 2004-2005, the reserves stood at $128.9 billion on February 4, 2005, indicating that they surpassed $125 billion in 2004.

Statement 2 is correct: The Wholesale Price Index (WPI) series with the base year 1993-94=100 was introduced in April 2000, replacing the previous 1981-82 base year series.

Explanation

ITC Limited launched the ‘e-Choupal’ initiative to empower rural farmers by providing them with direct access to markets, agricultural information, and best farming practices. It was started in 2000 as a digital platform to eliminate middlemen and improve farmers’ income by ensuring fair prices for their produce.

Explanation

Tirupur, located in Tamil Nadu, India, is a major textile and knitwear hub known for producing and exporting knitted garments to global markets. It is often referred to as the "Knitwear Capital of India" due to its dominance in manufacturing T-shirts, innerwear, sweatshirts, and other cotton-based garments.