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Current Affairs: Passage of the Day - 23 December 2024 | Current Affairs: Daily, Weekly & Monthly - CLAT PDF Download

Directions: Read the passage carefully and answer the questions that follow.
The Government of India and the Asian Development Bank (ADB) today signed a $350 million policy-based loan under the second subprogram of Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) program.
The signatories to the loan agreement were Department of Economic Affairs (DEA), Ministry of Finance; Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry; and the ADB.
The SMILE program is a programmatic policy-based loan (PBL) to support the government in undertaking wide-ranging reforms in the logistics sector in India. The programmatic approach comprises two subprograms, which aim to expand India’s manufacturing sector and improve the resilience of its supply chains.
The program establishes and operationalizes a comprehensive policy framework to enhance logistics efficiency through (i) strengthening the institutional bases for multimodal logistics infrastructure development at the national, state, and city levels; (ii) standardizing warehousing and other logistics assets to strengthen supply chains and incentivize greater private sector investment; (iii) improving efficiencies in external trade logistics; and (iv) adopting smart systems for efficient and low emission logistics.
The development of India’s logistics sector is vital to enhancing the competitiveness of its manufacturing sector. Through strategic policy reforms, infrastructure development, and digital integration, ongoing reforms are poised to transform the logistics landscape. This transformation is expected to reduce costs, improve efficiency, generate substantial employment opportunities, and promote gender inclusion—driving sustainable economic growth.
The collaboration between the Government of India and ADB reflects a shared commitment to fostering growth and innovation in the logistics sector, supporting India’s broader economic development goals.
[Excerpt from PIB "India Signs $350 Million Loan Agreement with ADB" Dated 23/12/24]

Q1: How much loan has the Asian Development Bank (ADB) provided to India for the SMILE programme?
(a) $200 million
(b) $350 million
(c) $500 million
(d) $1 billion

Current Affairs: Passage of the Day - 23 December 2024 | Current Affairs: Daily, Weekly & Monthly - CLAT  View Answer

Ans: (b)
Sol: ADB has provided a $350 million loan for the SMILE programme.


Q2: What is the full form of the SMILE programme?
(a) Strengthening Multimodal and Integrated Logistics Ecosystem
(b) Sustainable Manufacturing and Infrastructure Logistics Enhancement
(c) Smart Management and Integrated Logistics Efficiency
(d) Supply Chain Management and Infrastructure Logistics Excellence

Current Affairs: Passage of the Day - 23 December 2024 | Current Affairs: Daily, Weekly & Monthly - CLAT  View Answer

Ans: (a)
Sol: The SMILE programme stands for Strengthening Multimodal and Integrated Logistics Ecosystem.


Q3: What is the primary objective of the SMILE programme?
(a) To reduce export taxes
(b) To reform the logistics sector and enhance infrastructure
(c) To develop smart cities
(d) To subsidize warehouse construction

Current Affairs: Passage of the Day - 23 December 2024 | Current Affairs: Daily, Weekly & Monthly - CLAT  View Answer

Ans: (b)
Sol: The SMILE programme focuses on reforming the logistics sector and improving infrastructure.


Q4: What are the key components of the SMILE programme?
(a) Free trade agreements and tax reforms
(b) Improving warehouses and logistics facilities, and attracting private sector investment
(c) Developing IT parks and digital infrastructure
(d) Enhancing manufacturing subsidies

Current Affairs: Passage of the Day - 23 December 2024 | Current Affairs: Daily, Weekly & Monthly - CLAT  View Answer

Ans: (b)
Sol: The SMILE programme focuses on improving warehouses, logistics facilities, and attracting private sector investment.


Q5: Which of the following is NOT a focus area of the SMILE programme?
(a) Developing transport infrastructure
(b) Promoting environmentally friendly logistics practices
(c) Enhancing logistics for international trade
(d) Reducing corporate taxes

Current Affairs: Passage of the Day - 23 December 2024 | Current Affairs: Daily, Weekly & Monthly - CLAT  View Answer

Ans: (d)
Sol: The SMILE programme does not focus on reducing corporate taxes.

The document Current Affairs: Passage of the Day - 23 December 2024 | Current Affairs: Daily, Weekly & Monthly - CLAT is a part of the CLAT Course Current Affairs: Daily, Weekly & Monthly.
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