The fringe benefits tax (FBT) was introduced in India in the year 2005-2006. Fringe Benefit Tax (FBT) is fundamentally a tax that an employer has to pay in lieu of the benefits that are given to his/her employees. It was an attempt to comprehensively levy tax on those benefits, which evaded the taxman. The list of benefits encompassed a wide range of privileges, services, facilities or amenities which were directly or indirectly given by an employer to current or former employees, be it something simple like telephone reimbursements, free or concessional tickets or even contributions by the employer to a superannuation fund. FBT was introduced as a part of the Finance Bill of 2005 and was set at 30% of the cost of the benefits given by the company, apart from the surcharge and education cess that also needed to be paid.

Correct Option: C

The fringe benefits tax (FBT) was introduced in India in the year 2005-2006. Fringe Benefit Tax (FBT) is fundamentally a tax that an employer has to pay in lieu of the benefits that are given to his/her employees. It was an attempt to comprehensively levy tax on those benefits, which evaded the taxman. The list of benefits encompassed a wide range of privileges, services, facilities or amenities which were directly or indirectly given by an employer to current or former employees, be it something simple like telephone reimbursements, free or concessional tickets or even contributions by the employer to a superannuation fund. FBT was introduced as a part of the Finance Bill of 2005 and was set at 30% of the cost of the benefits given by the company, apart from the surcharge and education cess that also needed to be paid.

The Annapurna Scheme was launched by the Ministry of Rural Development on April 1, 2000 as a 100 per cent Centrally Sponsored Scheme aiming at providing food security to meet the requirement of those destitute senior citizens who though eligible have remained uncovered under the National Old Age Pension Scheme (NOAPS). From 2002-2003, this scheme was transferred to State Plan along with the NSAP. Indigent senior citizens or 65 years of age or above who though eligible for old age pension under the National Old Age Pension Scheme (NOAPS) but were not getting the pension were covered under the Scheme. 10 kgs of foodgrains per person per month was supplied free of cost under the scheme.

Correct Option: D

The Annapurna Scheme was launched by the Ministry of Rural Development on April 1, 2000 as a 100 per cent Centrally Sponsored Scheme aiming at providing food security to meet the requirement of those destitute senior citizens who though eligible have remained uncovered under the National Old Age Pension Scheme (NOAPS). From 2002-2003, this scheme was transferred to State Plan along with the NSAP. Indigent senior citizens or 65 years of age or above who though eligible for old age pension under the National Old Age Pension Scheme (NOAPS) but were not getting the pension were covered under the Scheme. 10 kgs of foodgrains per person per month was supplied free of cost under the scheme.

By merging the two erstwhile wage employment programme - National Rural Employment programme (NREP) and Rural Landless Employment Guarantee Programme (RLEGP) the Jawahar Rozgar Yojana (JRY) was started with effect from April, 1, 1989 on 80:20 cost sharing basis between the centre and the States. The main objective of the Yojana was additional gainful employment for the unemployed and under-employed persons in rural areas. The other objective was the creation of sustained employment by strengthening rural economic infrastructure and assets in favour of rural poor for their direct and continuing benefits.

Correct Option: D

By merging the two erstwhile wage employment programme - National Rural Employment programme (NREP) and Rural Landless Employment Guarantee Programme (RLEGP) the Jawahar Rozgar Yojana (JRY) was started with effect from April, 1, 1989 on 80:20 cost sharing basis between the centre and the States. The main objective of the Yojana was additional gainful employment for the unemployed and under-employed persons in rural areas. The other objective was the creation of sustained employment by strengthening rural economic infrastructure and assets in favour of rural poor for their direct and continuing benefits.

Lately, the manufacturing industry has been witnessing a positive overall growth across spectrum. This can be said on the basis of the Industrial Outlook survey that was conducted by the Reserve Bank of India (RBI) for 2010 on the Indian manufacturing sector. As per UNIDO’s new report titled ‘Yearbook of Industrial Statistics 2010’, India has emerged as one of the world’s top 10 countries in industrial production, while as per the report ‘2010 Global Manufacturing Competitiveness Index’, by Deloitte Touche Tohmatsu and the US Council on Competitiveness, India has ranked second for its manufacturing competence.

Correct Option: A

Lately, the manufacturing industry has been witnessing a positive overall growth across spectrum. This can be said on the basis of the Industrial Outlook survey that was conducted by the Reserve Bank of India (RBI) for 2010 on the Indian manufacturing sector. As per UNIDO’s new report titled ‘Yearbook of Industrial Statistics 2010’, India has emerged as one of the world’s top 10 countries in industrial production, while as per the report ‘2010 Global Manufacturing Competitiveness Index’, by Deloitte Touche Tohmatsu and the US Council on Competitiveness, India has ranked second for its manufacturing competence.

The Fourth Five-Year Plan (1969–1974) set before itself the two principal objectives – growth with stability and progress towards self – reliance. It laid great emphasis on agriculture’s growth rate so that a chain reaction can start. The Fifth Five-Year Plan (1974–1979) also focused on self-reliance in agricultural production and defense.

Correct Option: D

The Fourth Five-Year Plan (1969–1974) set before itself the two principal objectives – growth with stability and progress towards self – reliance. It laid great emphasis on agriculture’s growth rate so that a chain reaction can start. The Fifth Five-Year Plan (1974–1979) also focused on self-reliance in agricultural production and defense.