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
Consider the following statements with respect to ‘Public Accounts Committee’
- It is the oldest Parliamentary Committee and was constituted under the provisions of the Government of India Act of 1919
- The committee has no representation from Rajya Sabha
- It is constituted by Parliament each year for examination of accounts
Which of the given statement(s) above is /are correct
Correct
Solution(b)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Incorrect Correct It is the oldest Parliamentary Committee and was first constituted in 1921 under the provisions of the Government of India Act of 1919 Public Accounts Committee consists of 22 Members; 15 Members are elected from Lok Sabha and 7 Members from the Rajya Sabha are associated with it It is constituted by Parliament each year for examination of accounts showing the appropriation of sums granted by Parliament for expenditure of Government of India, the annual Finance Accounts of Government of India, and such other accounts laid before Parliament as the Committee may deem fit Context – Hundred years of establishment of Public Accounts Committee.
Incorrect
Solution(b)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Incorrect Correct It is the oldest Parliamentary Committee and was first constituted in 1921 under the provisions of the Government of India Act of 1919 Public Accounts Committee consists of 22 Members; 15 Members are elected from Lok Sabha and 7 Members from the Rajya Sabha are associated with it It is constituted by Parliament each year for examination of accounts showing the appropriation of sums granted by Parliament for expenditure of Government of India, the annual Finance Accounts of Government of India, and such other accounts laid before Parliament as the Committee may deem fit Context – Hundred years of establishment of Public Accounts Committee.
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Question 2 of 5
2. Question
Consider the following statements regarding Dispute Settlement Mechanism of WTO
- Settling disputes is the responsibility of the General Council which consists of all the developed countries.
- The decision of the Appellate Body is final on the dispute
- Rulings are automatically adopted unless there is a consensus to reject a ruling
Choose the correct statements
Correct
Solution(c)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Correct Correct Settling disputes is the responsibility of the Dispute Settlement Body (the General Council in another guise), which consists of all WTO members. The Dispute Settlement Body has the sole authority to establish “panels” of experts to consider the case, and to accept or reject the panels’ findings or the results of an appeal. The WTO Appellate Body’s decision will be considered final on the dispute. In case a country refuses to comply with the decision, it might have to face retaliatory action from other countries. This could be in the form of additional tariffs and other stringent measures. The Uruguay Round agreement also made it impossible for the country losing a case to block the adoption of the ruling. Under the previous GATT procedure, rulings could only be adopted by consensus, meaning that a single objection could block the ruling. Now, rulings are automatically adopted unless there is a consensus to reject a ruling — any country wanting to block a ruling has to persuade all other WTO members (including its adversary in the case) to share its view Context – WTO’s dispute settlement panel ruled against India regarding subsidies provided to sugarcane
Incorrect
Solution(c)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Correct Correct Settling disputes is the responsibility of the Dispute Settlement Body (the General Council in another guise), which consists of all WTO members. The Dispute Settlement Body has the sole authority to establish “panels” of experts to consider the case, and to accept or reject the panels’ findings or the results of an appeal. The WTO Appellate Body’s decision will be considered final on the dispute. In case a country refuses to comply with the decision, it might have to face retaliatory action from other countries. This could be in the form of additional tariffs and other stringent measures. The Uruguay Round agreement also made it impossible for the country losing a case to block the adoption of the ruling. Under the previous GATT procedure, rulings could only be adopted by consensus, meaning that a single objection could block the ruling. Now, rulings are automatically adopted unless there is a consensus to reject a ruling — any country wanting to block a ruling has to persuade all other WTO members (including its adversary in the case) to share its view Context – WTO’s dispute settlement panel ruled against India regarding subsidies provided to sugarcane
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Question 3 of 5
3. Question
‘Global Minimum Tax Rate’ is being contemplated by
Correct
Solution(a)
The global minimum corporate tax rate, abbreviated GMCT or GMCTR, is an agreement between national leaders which proposes to reduce tax competition between countries and the avoidance of corporate taxes by setting a world-wide minimum corporate tax rate. In 2019, the OECD, an intergovernmental association of mostly rich countries, began proposing a global minimum corporate tax rate.
Context – Organisation for Economic Co-operation and Development (OECD) released Pillar Two model rules for of 15% global minimum tax.
Incorrect
Solution(a)
The global minimum corporate tax rate, abbreviated GMCT or GMCTR, is an agreement between national leaders which proposes to reduce tax competition between countries and the avoidance of corporate taxes by setting a world-wide minimum corporate tax rate. In 2019, the OECD, an intergovernmental association of mostly rich countries, began proposing a global minimum corporate tax rate.
Context – Organisation for Economic Co-operation and Development (OECD) released Pillar Two model rules for of 15% global minimum tax.
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Question 4 of 5
4. Question
Consider the following statements regarding ‘Stand-off Anti-Tank(SANT) Missile’
- It is a surface to surface missile developed indigeneously by DRDO
- It has a striking capability within a range of 50 kilometres and is equipped with a millimeter wave seeker
Select the correct statement(s)
Correct
Solution(d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect Defence Research and Development Organisation (DRDO) and Indian Air Force (IAF) flight-tested the indigenously designed and developed Helicopter launched SANT Missile SANT missile is equipped with a state-of-the-art millimetre wave (MMW) seeker which provides high precision strike capability within a range of 10 kilometres. Context – SANT missile was flight tested
Incorrect
Solution(d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect Defence Research and Development Organisation (DRDO) and Indian Air Force (IAF) flight-tested the indigenously designed and developed Helicopter launched SANT Missile SANT missile is equipped with a state-of-the-art millimetre wave (MMW) seeker which provides high precision strike capability within a range of 10 kilometres. Context – SANT missile was flight tested
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Question 5 of 5
5. Question
With reference to ‘Global Methane Initiative’, consider the following statements
- It is a voluntary Government created to achieve global reduction in anthropogenic methane emission
- It was established at the recently concluded COP session of UNFCCC
Select the correct statement(s)
Correct
Solution(a)
Statement Analysis:
Statement 1 Statement 2 Correct Incorrect GMI is a voluntary Government and an informal international partnership created to achieve global reduction in anthropogenic methane emission through partnership among developed and developing countries having economies in transition It was created in 2004 and has membership from 45 countries Context – India recently chaired a meeting of GMI.
Incorrect
Solution(a)
Statement Analysis:
Statement 1 Statement 2 Correct Incorrect GMI is a voluntary Government and an informal international partnership created to achieve global reduction in anthropogenic methane emission through partnership among developed and developing countries having economies in transition It was created in 2004 and has membership from 45 countries Context – India recently chaired a meeting of GMI.
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