Which country passed the ‘Inflation Reduction Act, 2022’?
- A. Iran
- B. USA
- C. Sri Lanka
- D. Venezuela
Correct Answer: B. USA
The US government recently pass the Inflation Reduction Act, 2022, joining forces with its central bank in the fight to reduce inflation. The US Federal Reserve has increased policy rates by an unprecedented 225 basis points over the last four monetary policy meetings. The act aims to boost government revenues by around USD 737 billion and spend USD 437 billion during 2022-31. The savings are expected to translate into lower deficits.
Correct Answer: B. October 15
Many people, government agencies, community groups and non-government associations celebrate the International Day of Rural Women on October 15 every year. The first International Day of Rural Women was observed on October 15, 2008. This day recognizes the role of rural women, including indigenous women, in enhancing agricultural and rural development, improving food security and eradicating rural poverty.
Correct Answer: A. $609.02 billion
India`s foreign exchange reserves rose for a third straight week to total $609.02 billion as of July 14, the highest in nearly 15 months, data from the central bank showed on July 21, 2023. They rose by $12.74bn from the week earlier the biggest gain in four months having risen by a total of $3.08bn in the prior two weeks.
Correct Answer: C. Geneva
The World Summit on the Information Society (WSIS) Forum 2022 started on 15 March in a virtual format with the final week held physically from 30 May to 3 June 2022 at the ITU Headquarters in Geneva, Switzerland. The forum was held under the theme of ‘ICTs for Well-Being, Inclusion, and Resilience: WSIS Cooperation for Accelerating Progress on the SDGs’. The WSIS Forum is co-organized by ITU, UNESCO, UNDP, and UNCTAD.
Correct Answer: D. Shortage of foreign currency
Sri Lanka’s government recently offered unsolicited value-added and income tax cuts to taxpayers. This led to an extreme loss of government revenue. As a consequence, the Sri Lankan Rupee started to slip. Without the necessary cash reserves in place, in early March Sri Lanka had to allow the rupee to free fall.
Correct Answer: C. Maldives
the Maldives becomes 54th member of the Commonwealth family. The Commonwealth has welcomed its 54th family member after Maldives’ application for re-admission was approved. The small island nation officially re-joined the Commonwealth at 00:01 today (Saturday, February 1, 2020).
Correct Answer: D. June 22, 2022
Saudi Crown Prince Mohammed bin Salman has landed in the Turkish capital, Ankara, for a first visit to the country since the 2018 murder of journalist Jamal Khashoggi at the kingdom’s Istanbul consulate. The visit began with a welcome ceremony and will be followed by a one-on-one meeting between Turkish President Recep Tayyip Erdogan and the crown prince.