1636: Which one of the following statements is correct with reference to FEMA in India?
(a) The Foreign Exchange Regulation Act (FERA), was replaced by Foreign Exchange Management Act (FEMA) in the year 2001
(b) FERA was given a sunset clause of one year till 31st May 2002 to enable Enforcement Directorate to complete the investigation of pending issues
(c) Under FEMA, violation of foreign exchange rules has ceased to be a criminal offence
(d) As per the new dispensation, Enforcement Directorate can arrest and prosecute the people for the violation of foreign exchange rules
1637: With reference to the recent developments in science, which one of the following statements is not correct?
(a) Functional chromosomes can be created by joining segments of DNA taken from cells of different species.
(b) Pieces of artificial functional DNA can be created in laboratories.
(c) A piece of DNA taken out from an animal cell can be made to replicate outside a living cell in a laboratory.
(d) Cells taken out from plasma and animals can be made to undergo cell division in laboratory petri dishes.
1638: Consider the following statements :
In India, taxes on transactions in Stock Exchanges and Futures Markets are
1. levied by the Union
2. collected by the State
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
1639: India enacted The Geographical Indications of Goods (Registration and Protection) Act, 1999 in order to comply with the obligations to
(a) ILO
(b) IMF
(c) UNCTAD
(d) WTO
1640: What is the likely impact of decrease of population on economy?
(a) Increase in per capita income
(b) Decrease in per capita income
(c) Increase in investment
(d) Decrease in savings