#Amendments to Foreign Contribution (Regulation) Act

Question 1

The foreign contribution regulation Act comes under which ministry

Answer 1

Ministry of Home affairs

Question 2

Minister of Home affairs

Answer 2

Amit Shah

Question 3

Foreign contribution regulation Act was enacted in

Answer 3

1976
During emergency

Question 4

Why this law

Answer 4

To regulate foreign donations
“In a manner consistent with the values of sovereign democratic republic”

Question 5

Amendments

Answer 5

2010
2020

Question 6

Changes

Answer 6

1.Receive up to 10 lakh
Earlier 1 lakh
2. 90 days to inform the government
Earlier30 days
3.45 days for the application of obtaining ‘registration’ or ‘prior permission’.
Earlier it was 30 days.

Question 7

Changes in usage of fund

Answer 7

Now- 20%
Earlier - 50%

Question 8

No. Of offences

Answer 8

Now 12
Earlier - 7

Question 9

What are Compoundable Offences?

Answer 9

the complainant (one who has filed the case, i.e., the victim), enter into a compromise, and agrees to have the charges dropped against the accused

Question 10

Remittances

Answer 10

financial or in-kind transfers made by migrants to friends and relatives back in communities of origin.

Question 11

Forex

Answer 11

Foreign exchange reserves are assets held on reserve by a central bank in foreign currencies, which can include bonds, treasury bills and other government securities.

Question 12

Trade deficit is also called

Answer 12

Current account deficit

Question 13

What is trade deficit?

Answer 13

when the total value of goods and services a country imports exceeds the total value of goods and services it exports.