IASbaba Daily Prelims Quiz
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The Current Affairs questions are based on sources like ‘The Hindu’, ‘Indian Express’ and ‘PIB’, which are very important sources for UPSC Prelims Exam. The questions are focused on both the concepts and facts. The topics covered here are generally different from what is being covered under ‘Daily Current Affairs/Daily News Analysis (DNA) and Daily Static Quiz’ to avoid duplication. The questions would be published from Monday to Saturday before 2 PM. One should not spend more than 10 minutes on this initiative.
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Question 1 of 5
1. Question
Which of the statements given below is not true with reference to Foreign Contribution (Regulation) Act?
Correct
Solution (c)
As per the Foreign Contribution (Regulation) Act (FCRA Act 2010), all NGOs are required to be registered under the Act to receive foreign funding.
As per the existing rules, all banks have to report to the Central government within 48 hours the “receipt or utilisation of any foreign contribution” by any NGO, association or person whether or not they are registered or granted prior permission under the FCRA.
Last September (2020), the Foreign Contribution (Regulation) Act, 2010, was amended by Parliament and a new provision that makes it mandatory for all NGOs to receive foreign funds in a designated bank account at the State Bank of India’s (SBI) New Delhi branch was inserted.
All NGOs seeking foreign donations have to open a designated FCRA account at the SBI branch by March 31. The NGOs can retain their existing FCRA account in any other bank but it will have to be mandatorily linked to the SBI branch in New Delhi.
Article link: India tightens oversight on funds received by NGOs
Incorrect
Solution (c)
As per the Foreign Contribution (Regulation) Act (FCRA Act 2010), all NGOs are required to be registered under the Act to receive foreign funding.
As per the existing rules, all banks have to report to the Central government within 48 hours the “receipt or utilisation of any foreign contribution” by any NGO, association or person whether or not they are registered or granted prior permission under the FCRA.
Last September (2020), the Foreign Contribution (Regulation) Act, 2010, was amended by Parliament and a new provision that makes it mandatory for all NGOs to receive foreign funds in a designated bank account at the State Bank of India’s (SBI) New Delhi branch was inserted.
All NGOs seeking foreign donations have to open a designated FCRA account at the SBI branch by March 31. The NGOs can retain their existing FCRA account in any other bank but it will have to be mandatorily linked to the SBI branch in New Delhi.
Article link: India tightens oversight on funds received by NGOs
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Question 2 of 5
2. Question
Which article of the Constitution deals with ‘Annual Financial Statement’?
Correct
Solution (b)
Article 110 of Constitution of India deals with ‘Definition of Money Bill’.
Article 111 of Constitution of India deals with ‘Assent to Bills passed by the Parliament’.
Article 112 of Constitution of India deals with ‘Annual Financial Statement’.
Article 113 of Constitution of India deals with ‘Procedure in Parliament with respect to estimates’.
Incorrect
Solution (b)
Article 110 of Constitution of India deals with ‘Definition of Money Bill’.
Article 111 of Constitution of India deals with ‘Assent to Bills passed by the Parliament’.
Article 112 of Constitution of India deals with ‘Annual Financial Statement’.
Article 113 of Constitution of India deals with ‘Procedure in Parliament with respect to estimates’.
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Question 3 of 5
3. Question
Consider the statements below in regard to Budget:
- Constitution provides that “Budget” be laid before both the Houses of Parliament every financial year.
- The “Budget” is a statement of the estimated receipts and expenditure of the Government of India in a financial year.
- Ministry of Finance prepares the Budget.
Which of the statements given above is/are correct?
Correct
Solution (c)
Article 112 of the Constitution refers to the budget as the ‘annual financial statement’. In other words, the term ‘budget’ has nowhere been used in the Constitution. Hence, statement (1) is wrong.
The budget is prepared by the budget division in the Ministry of Finance after consulting with other ministries and the Planning Commission.
Incorrect
Solution (c)
Article 112 of the Constitution refers to the budget as the ‘annual financial statement’. In other words, the term ‘budget’ has nowhere been used in the Constitution. Hence, statement (1) is wrong.
The budget is prepared by the budget division in the Ministry of Finance after consulting with other ministries and the Planning Commission.
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Question 4 of 5
4. Question
Which of the following organization is responsible for the preparation of economic survey in India?
Correct
Solution (d)
Economic Survey of India
The Department of Economic Affairs, Finance Ministry of India presents the Economic Survey in the parliament every year, just before the Union Budget. It is prepared under the guidance of the Chief Economic Adviser, Finance Ministry.
It is the ministry’s view on the annual economic development of the country. A flagship annual document of the Ministry of Finance, Government of India, Economic Survey reviews the developments in the Indian economy over the previous 12 months, summarizes the performance on major development programs, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term. This document is presented to both houses of Parliament during the Budget Session.
Article reference: 10 major points made by the Economic Survey
Incorrect
Solution (d)
Economic Survey of India
The Department of Economic Affairs, Finance Ministry of India presents the Economic Survey in the parliament every year, just before the Union Budget. It is prepared under the guidance of the Chief Economic Adviser, Finance Ministry.
It is the ministry’s view on the annual economic development of the country. A flagship annual document of the Ministry of Finance, Government of India, Economic Survey reviews the developments in the Indian economy over the previous 12 months, summarizes the performance on major development programs, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term. This document is presented to both houses of Parliament during the Budget Session.
Article reference: 10 major points made by the Economic Survey
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Question 5 of 5
5. Question
Who among the following was concerned about the problem of food security in India and sowed the seeds of the Green Revolution in Indian agriculture?
Correct
Solution (b)
Chidambaram Subramaniam, an Indian politician and independence activist, was concerned about the problem of food security in India. He sowed the seeds of the Green Revolution in Indian agriculture. Dr. Subrahmanyan Chandrasekhar explored space and propounded the concept of black holes, while Mr. Subramaniam championed the cause of science and technology to solve societal problems.
As the Minister for Food and Agriculture, he ushered the Indian Green Revolution, an era of self-sufficiency in food production along with M. S. Swaminathan, B. Sivaraman and Norman E. Borlaug. He was awarded Bharat Ratna, Indian’s highest civilian award, in 1998, for his role in ushering Green Revolution.
Article reference: A champion of science, pro-poor technology
Incorrect
Solution (b)
Chidambaram Subramaniam, an Indian politician and independence activist, was concerned about the problem of food security in India. He sowed the seeds of the Green Revolution in Indian agriculture. Dr. Subrahmanyan Chandrasekhar explored space and propounded the concept of black holes, while Mr. Subramaniam championed the cause of science and technology to solve societal problems.
As the Minister for Food and Agriculture, he ushered the Indian Green Revolution, an era of self-sufficiency in food production along with M. S. Swaminathan, B. Sivaraman and Norman E. Borlaug. He was awarded Bharat Ratna, Indian’s highest civilian award, in 1998, for his role in ushering Green Revolution.
Article reference: A champion of science, pro-poor technology
