IIFT 2017: 10 Hot GK topics to improve your exam score; don’t lose on cut offs

Out of the 4 testing sections, General Awareness (GK) is the most crucial in IIFT entrance exam. So, don’t ignore GK in IIFT 2017 entrance exam on December 3, 2017, the IIFT MBA entrance exam day. The GK section can add 15% score and can push your merit position among top rankers. IIFT exam preparation experts and toppers also suggest to brush up this key area and focus on current GK topics that have taken place during last one year.

MBAUniverse.com with an indepth research has brought out 10 hot GK topics to help you in your last minute preparation. Check the 10 Hot GK topics and the probable questions on them that you may face in IIFT exam tomorrow, it may help you crack the GK section with high score. Following are the hot GK topics on which you can expect questions in IIFT 2017 exam tomorrow:

1. GST and its implementation: Goods and Services Tax (GST) is a current hot topic as it was implemented only a few months back on July 1, 2017.  You may face questions on GST like:

• What are the minimum and maximum slabs of GST?
• Does GST replace direct tax or indirect taxes?
• Which taxes are replaced by GST?
• Are there any states who have not implemented GST?
• Which products are still kept outside the GST?

2. Doklam: Doklam in Tibet near Sikkim is an area claimed by China and Bhutan. It lies  between Tibet’s Chumby Valley to the north, Bhutan’s Ha Valley to the east and India’s Sikkim state to the west. The area has strategic importance. In June 2017 China attempted to build a road on the Doklam plateau near the Doka La pass. Indian troops tried to prevent Chinese troops on behalf of Bhutan from building this road. This caused a military stand-off between India and China. Bhutan also objected to China’s road construction in the disputed area. Later India through its diplomatic channels resolved this issue and Chinese as well as Indian troops retreated from the disputed place. The road construction was stopped by China.The probable questions you may find can be:

• Where is Doklam? What was the issue?
• When Doklam was figured in news?
• Which countries were involved in Doklam military stand off?
• On which country’s behalf India objected to road construction in Doklam?

3. Bank Recapitalization: Public sector banks were starving for funds due to high NPA portfolio, provisioning requirement and require growth capital. Government of India has decided to recapitalize these banks with Rs.2.1 trillion via recapitalization bonds. Probable questions you may face in IIFT 2017 exam can be:

• Has the Government earlier used the Bank recapitalization? When was it used
• What approach was used to recapitalize the Banks earlier?
• What approach is used to recapitalize the Banks in 2017?
• How much has been earmarked to recapitalize the Banks?

4. Demonetization: The demonetization was announced by Mr Narendra Modi, the Prime Minister of India, on November 8, 2016 in a sudden and unscheduled live television address at 8PM. In the days following the demonetisation, the country faced severe cash shortages. The use of Rs.500 and Rs.1000 banknotes was made invalid past midnight of November 8. Instead new Rs.500 and Rs.2000 banknotes of the Mahatma Gandhi new series were introduced.

The objective of demonetization was to curtail the black money running as shadow economy and to stop the use of counterfeit cash to fund illegal activity and terrorism.  The expected type of questions you could face on demonetization are:

• From which date demonetization came into effect?
• Which currency notes were put out of circulation due to demonetization?
• What was the immediate impact of demonetization on growth rate of economy?
• What was the total volume of currency which was replaced by new currency notes?

5. Budget Merger and Cycle: Government of India has decided to stop presenting the Railway Budget and Union General Budget separately from the financial year 2017-18. Besides, the date of presentation of Union Budget has been preponed from February 28 to February 1. The size of Budget 2017 was Rs.21.47 lakh crores. Questions on Budget can be:

• What is the revised date of Union Budget presentation in Parliament?
• Who presents Union Budget?
• From 2017 who will be presenting the Railway Budget?
• Which two Budgets are merged by Government of India for presentation to Parliament?
• What is the size of Union Budget 2017-18?

6. YONO: ‘You only need one’ (YONO) is the first integrated Omni-channel digital platform launched by State Bank of India. It offers everything related to financial services and can be accessed through mobile phones and on the web through a browser. The expected questions on YONO can be:

• What is YONO?
• Which bank has launched YONO?
• YONO can be used with which device?

7. BREXIT: Brexit is the term used for the prospective withdrawal of United Kingdom (UK) from the European Union. In a referendum on 23 June 2016, 51.9% of the participating  UK electorate voted to leave the European Union. Accordingly on March 29, 2017 the British Government invoked Article 50 of the Treaty on the European Union and now UK proposes to leave the EU on March 29, 2019. The expected questions can be:

• What is BREXIT?
• Which Article is invoked by UK to leave EU?
• When does UK propose to leave EU?

8. RERA: The Real Estate (Regulation and Development) Act, 2016 is an Act passed by  the Parliament of India. The ACT seeks to protect home-buyers as well as help boost investments in the real estate industry. The bill was passed by the Rajya Sabha on March 10, 2016 and by the Lok Sabha on March 15, 2016. The Act came into force on 1 May 2016 with 59 of 92 sections notified. Remaining provisions came into force on May 1, 2017. The Central and state governments are liable to notify the Rules under the Act within a statutory period of six months. Expected questions are:

• What does RERA stand for?
• To help whom RERA has been passed by the Parliament?
• How many states have implemented RERA?

9. Rohingya Crisis and its impact on India: The Rohingya are a stateless Muslim minority in Myanmar's Rakhine State, thought to number about 1 million people. Myanmar does not recognize them as citizens or one of the 135 recognized ethnic groups in the country and  regards them as illegal immigrants, a view rooted in their heritage in Bangadesh. In 2015 thousands of Rohingya were taken in boats from Myanmar by human traffickers and many of them died.

Rohingya have only known life in Myanmar, they are widely viewed as intruders from across the border. According to Human Rights Watch, laws discriminate against the Rohingya, infringing on their freedom of movement, education and employment. They are denied land and property rights and ownership, and the land on which they live can be taken away at any given time. Now China is taking up the role of mediator with Bangladesh and Myanmar to implement three-phased solution proposed by its Foreign Minister. Expected questions are: 

• Which country do the Rohingya belong to?
• What is the Rohingya Crisis?
• Which countries are involved in Rohingya crisis?
• Which country has offered to play role of mediator to solve Rohingya crisis?

10. Appointments by President of India: President Ram Nath Kovind has recently appointed Governors in five states viz. Arunachal Pradesh, Bihar, Tamil Nadu, Assam and Meghalaya. And Lieutenant Governor for Andaman & Nicobar Islands. 

Brigadier (Dr) BD Mishra (Retd) was appointed as Governor of Arunachal Pradesh, Satya Pal Malik was appointed as Governor of Bihar, Banwarilal Purohit was appointed as Governor of Tamil Nadu, Prof Jagdish Mukhi, Ganga Prasad was appointed as the Governor of Meghalaya, Devendra Kumar Joshi was appointed as Lt. Governor of Andaman & Nicobar islands. Expected questions are:

• To whom the newly appointed Governors succeed?
• Was there any state which did not have a Governor at the time of new appointment was announced?
•  Respective state and name of the Governor

11.  Moody's improves India Rating: International rating agency Moody's Investors Service has upgraded India's local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive. Moody’s has revised the sovereign rating of India above investment grade after a long gap of 14 years. Last time the global rating revised the rating was when the BJP government led by Atal Bihari Vajpayee was in power. The rating agency has cited the government's implementation of its reform programme which includes introduction of the GST, Aadhaar system of biometric accounts and direct benefit transfer schemes and measures taken to address bad loans in the banking system

The immediate impact of the rating upgrade is that the cost of international borrowing will now become cheaper for Indian government and Indian corporate and the sentiments in Equity market will improve. Expected questions are:

• What is Moody’s?
• What is the improvement in rating for India by Moody’s?
• What is the impact of improvement in rating by Moody’s upon India?

Stay tuned to MBAUniverse.com for more updates on IIFT 2017

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