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    Direction: Read the given passage and answer the questions that follow based on the information mentioned in it.
    Foreign investors focused on debt markets also enjoy an extension in reduced withholding taxes on coupon payments on rupee denominated debt instruments till 2020. The provisions relating to a reduced 5% tax on interest on masala bonds (rupee denominated) issued before July 1, 2020, which were announced last year have made their way into the Finance Bill, 2017 (“Finance Bill“) along with extension of the benefit of 5% withholding tax on interest paid on Non-Convertible Debentures (“NCD“) to Foreign Portfolio Investors (“FPI“). With a view to increase depth in the bond market, the transfer of rupee-denominated bonds from one non-resident to another has also been exempted.
    The Budget has exempted investors (direct / indirect) in category I (sovereign funds) and category II (broad-based funds) FPIs from the application of the indirect transfer tax provisions. This move will hopefully address the significant concern that had been raised by FPIs in respect of multiple layers on taxation and also the potential retroactive application. This exemption must be extended to Category III (other than broad-based) FPIs too. The FM has also announced that offshore redemptions / buybacks of shares of foreign companies, consequent to sale of an investment in India, which could have triggered an inadvertent application of indirect transfer tax, will also be exempted, though the same has not yet come through in the fine print of the Finance Bill. It is hoped that this anomaly is addressed soon since this is of significant importance to the PE / VC industry and corporate. However, concerns continue to linger on various other aspects of the application of the indirect transfer tax provisions such as offshore mergers and reorganizations, disclosure and reporting requirements.

    ‘‘Operation Greens’’ shall promote Farmer Producers Organizations (FPOs), agri-logistics, processing facilities and professional management. I propose to allocate a sum of _____ for this purpose.

    Options :-

    1. 400 Crore
    2. 600 Crore
    3. 550 Crore
    4. 500 Crore
    5. 450 Crore
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