PIB Policy Dossier: अरुणाचल प्रदेश के तवांग में 31,000 श्रद्धालुओं ने शाक्यमुनि बुद्ध के पवित्र अवशेषों के दर्शन किए
Autonomous verified briefing of government policy notifications, Cabinet decisions, and high-yield Prelims MCQs for 2026-11-08.
Executive Summary
⚡ Today's Prelims Practice Quiz
🎯 UPSC Prelims Practice Drill
With reference to the Goods and Services Tax (GST) framework in India, consider the following statements: 1. Petroleum products such as petrol and diesel, as well as alcohol for human consumption, are kept exempt under the GST regime. 2. The GST laws enable the central government to constitute an anti-profiteering authority to ensure that tax rate reductions lead to a reduction in consumer prices. 3. Essential social services such as healthcare and education are placed under the 28% tax bracket with an additional compensation cess. Which of the statements given above are correct?
- [A] 1 and 2 only
- [B] 2 and 3 only
- [C] 1 and 3 only
- [D] 1, 2 and 3
▶ Reveal Official Answer & Analytical Explanation
Statements 1 and 2 are correct. Under the GST laws, alcohol for human consumption and key petroleum products like petrol and diesel are exempt, and the central government is empowered to set up an anti-profiteering authority to pass tax benefits to consumers. Statement 3 is incorrect because healthcare and education are exempt from GST, not placed under the 28% plus cess slab.
🎯 UPSC Prelims Practice Drill
With reference to the Reserve Bank of India (RBI) financial dispatches and recent legislative updates, consider the following statements: 1. Under the Banking Laws (Amendment) Act, 2025, the definition of a banking fortnight in India was revised from alternate Fridays to the 15th and last calendar day of a month. 2. Foreign Currency Assets (FCA) compiled by the RBI exclude SDR holdings of the Reserve Bank, investments in IIFC (UK) bonds, and RBI's contribution to funding of Nexus Global Payments. Which of the statements given above is/are correct?
- [A] 1 only
- [B] 2 only
- [C] Both 1 and 2
- [D] Neither 1 nor 2
▶ Reveal Official Answer & Analytical Explanation
Statement 1 is correct: As per the Banking Laws (Amendment) Act, 2025, the definition of a banking fortnight was revised from alternate Fridays to the 15th and last calendar day of a month. Statement 2 is also correct: The RBI explicitly excludes SDR holdings, investments in IIFC (UK) bonds, SAARC/ACU currency swap arrangements, and contributions to Nexus Global Payments from its compiled Foreign Currency Assets (FCA).
🎯 UPSC Prelims Practice Drill
Consider the following statements regarding the financial restructuring and recommendations for Air India:
- [A] 1 and 2 only
- [B] 2 and 3 only
- [C] 1 and 3 only
- [D] 1, 2 and 3
▶ Reveal Official Answer & Analytical Explanation
Statements 1 and 2 are correct as the National Transport Development Policy Committee (NTDPC) recommended writing off legacy liabilities, granting full operational autonomy, and maintaining competitive neutrality to prevent market distortion. Statement 3 is correct because, under the Turnaround Plan (TAP) approved in 2012, government equity infusion was tied to meeting specific milestones such as Pay Load Factor, on-time performance, and fleet utilization.