1)  Which is/are true about the Benami Transaction Amendment Bill, 2016 passed by the Lok Sabha?

(i) Aimed at curbing black money

(ii) Imprisonment of up to 5 years

(iii) Provides for a fine of up to 30% of the fair value of the asset

(iv) Provides for a fine of up to 25% of the fair value of the asset and imprisonment of up to 7 years

A) (i) only

B) (i),(ii) and (iii) only

C) (ii),(iii) and (iv) only

D) (i) and (iv) only

(i) — True. The Benami Transactions (Prohibition) Amendment in 2016 was enacted to target benami (i.e., property held in the name of another) transactions, a mechanism often used to hide unaccounted/black money.

(ii) — False. The Act prescribes imprisonment of up to 7 years, not 5 years.

(iii) — False. The monetary penalty in the Act is up to 25% of the fair market value, not 30%.

(iv) — True. This correctly states the two key punitive measures: fine up to 25% of the fair value of the asset and imprisonment up to 7 years (and also enables confiscation of benami property).

 Ans)  D) (i) and (iv) only.


2)  The One hundred and first Amendment of the Indian Constitution relates to which of the following?

A) Demonetisation of Indian currency (Rs.1000 and Rs.500 currency notes)

B) Introduction of GST

C) Land Boundary Agreement between India and Bangladesh

D) Right to Education

The Constitution (One Hundred and First Amendment) Act, 2016 was enacted to enable the Goods and Services Tax (GST) regime in India. It introduced key constitutional changes (for example, insertion of Article 246A to provide concurrent power to Parliament and state legislatures to make laws on GST and insertion of Article 279A to create the GST Council), and amended relevant entries in the Seventh Schedule so indirect taxation could be subsumed under GST. The Amendment received Presidential assent in 2016 and GST was implemented across India from 1 July 2017.

A (Demonetisation) — Demonetisation (withdrawal of specified currency notes) was an executive/monetary policy action announced in November 2016, not a constitutional amendment.

C (Land Boundary Agreement) — The India–Bangladesh Land Boundary Agreement was a separate international/treaty matter and related legislative/constitutional steps distinct from the 101st Amendment.

D (Right to Education) — The Right to Education was introduced earlier via the 86th Amendment (2002), not the 101st.

Ans) B) Introduction of GST.