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 ‘Post Devolution Revenue Deficit Grant’
- It is provided to the States under Article 275 of the Constitution
- It is released to the States as per the recommendations of the successive Finance Commissions
Select the correct statement(s)
Correct
Solution(c)
Statement Analysis:
Statement 1 Statement 2 Correct Correct The Post Devolution Revenue Deficit Grants are provided to the States under Article 275 of the Constitution. The grants are released to the States as per the recommendations of the successive Finance Commissions to meet the gap in Revenue Accounts of the States post devolution. The eligibility of States to receive this grant and the quantum of grant for the period from 2020-21 to 2025-26 was decided by the Fifteenth Finance Commission based on the gap between assessment of revenue and expenditure of the State after taking into account the assessed devolution during this period. Context – The Department of Expenditure, Ministry of Finance has on Thursday released the 7th monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs.7,183.42 crore to 14 States.
Incorrect
Solution(c)
Statement Analysis:
Statement 1 Statement 2 Correct Correct The Post Devolution Revenue Deficit Grants are provided to the States under Article 275 of the Constitution. The grants are released to the States as per the recommendations of the successive Finance Commissions to meet the gap in Revenue Accounts of the States post devolution. The eligibility of States to receive this grant and the quantum of grant for the period from 2020-21 to 2025-26 was decided by the Fifteenth Finance Commission based on the gap between assessment of revenue and expenditure of the State after taking into account the assessed devolution during this period. Context – The Department of Expenditure, Ministry of Finance has on Thursday released the 7th monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs.7,183.42 crore to 14 States.
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Question 2 of 5
2. Question
Consider the following statements with respect to ‘Quality Council of India’
- It was set up as a non-profit autonomous society under The Companies Act of 1956
- The Chairman of QCI is appointed by the Minister of Commerce and Industry on recommendation of the industry to the government
- Its mandate is to establish and operate the National Accreditation Structure (NAS)
Choose the correct answer using the code given below
Correct
Solution(a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Incorrect Correct Quality Council of India as a non-profit autonomous society registered under Societies Registration Act XXI of 1860 to establish an accreditation structure in the country and spread the quality movement in India by undertaking a National Quality Campaign. The Chairman of QCI is appointed by the Prime Minister on recommendation of the industry to the government. Its mandate is to establish and operate the National Accreditation Structure (NAS) for conformity assessment bodies and providing accreditation in the field of health, education and quality promotion. Context – Commerce Minister urged Quality Council of India (QCI) to bring about convergence of all quality and standards organizations in the country to make quality a national mission.
Incorrect
Solution(a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Incorrect Correct Quality Council of India as a non-profit autonomous society registered under Societies Registration Act XXI of 1860 to establish an accreditation structure in the country and spread the quality movement in India by undertaking a National Quality Campaign. The Chairman of QCI is appointed by the Prime Minister on recommendation of the industry to the government. Its mandate is to establish and operate the National Accreditation Structure (NAS) for conformity assessment bodies and providing accreditation in the field of health, education and quality promotion. Context – Commerce Minister urged Quality Council of India (QCI) to bring about convergence of all quality and standards organizations in the country to make quality a national mission.
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Question 3 of 5
3. Question
Consider the following statements with respect to ‘Emergency Credit Line Guarantee Scheme’
- ECLGS is under the operational domain of the Department of Financial Services (DFS), Ministry of Finance.
- First-time borrowers too can raise funds under this scheme
- 100% guarantee is provided by the National Credit Guarantee Trustee Company (NCGTC)
Choose the correct answer using the code given below
Correct
Solution(c)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Incorrect Correct ECLGS is under the operational domain of the Ministry of Finance, Department of Financial Services (DFS). It was announced as part of the Atma Nirbhar Bharat Package in 2020 with the objective to help businesses including MSMEs to meet their operational liabilities and resume business in view of the distress caused by the COVID-19 crisis. First-time borrowers and Non-Performing Asset (NPA) accounts cannot raise funds under the scheme. 100% guarantee is provided by the National Credit Guarantee Trustee Company (NCGTC) to Member Lending Institutions (MLIs) – banks, financial institutions and Non-Banking Financial Companies (NBFCs). Context – The Department of Financial Services (DFS) (under the finance ministry) has modified the Emergency Credit Line Guarantee Scheme (ECLGS) for the aviation sector.
Incorrect
Solution(c)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Incorrect Correct ECLGS is under the operational domain of the Ministry of Finance, Department of Financial Services (DFS). It was announced as part of the Atma Nirbhar Bharat Package in 2020 with the objective to help businesses including MSMEs to meet their operational liabilities and resume business in view of the distress caused by the COVID-19 crisis. First-time borrowers and Non-Performing Asset (NPA) accounts cannot raise funds under the scheme. 100% guarantee is provided by the National Credit Guarantee Trustee Company (NCGTC) to Member Lending Institutions (MLIs) – banks, financial institutions and Non-Banking Financial Companies (NBFCs). Context – The Department of Financial Services (DFS) (under the finance ministry) has modified the Emergency Credit Line Guarantee Scheme (ECLGS) for the aviation sector.
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Question 4 of 5
4. Question
‘Trade and Development report 2022’ was released by
Correct
Solution(d)
Trade and Development Report is an annual report released by UNCTAD. It provides comprehensive and authoritative analysis of economic trends and policy issues of international concern. It offers recommendations for building a global economy that ensures better future for all people and the planet.
Context – The report was released recently.
Incorrect
Solution(d)
Trade and Development Report is an annual report released by UNCTAD. It provides comprehensive and authoritative analysis of economic trends and policy issues of international concern. It offers recommendations for building a global economy that ensures better future for all people and the planet.
Context – The report was released recently.
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Question 5 of 5
5. Question
With reference to ‘Parliamentary Committees’, consider the following statements
- It is a panel of MPs that is appointed or elected by the House or nominated by the Speaker
- Every Departmentally Related Standing Committee has members from both the houses
- Parliamentary Committees have their origin in the British Parliament
Choose the correct answer using the code given below
Correct
Solution(d)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Correct A Parliamentary Committee is a panel of MPs that is appointed or elected by the House or nominated by the Speaker, and which works under the direction of the Speaker. It presents its report to the House or to the Speaker. There are 16 Departmentally Related Standing Committees for Lok Sabha and eight for Rajya Sabha; however, every Departmentally Related Standing Committee has members from both the houses. Lok Sabha and Rajya Sabha panels are headed by members of these respective houses. Parliamentary Committees have their origins in the British Parliament. They draw their authority from Article 105, which deals with the privileges of MPs, and Article 118, which gives Parliament authority to make rules to regulate its procedure and conduct of business. Context – A revamp of the Parliamentary Committees is set to take place soon
Incorrect
Solution(d)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Correct A Parliamentary Committee is a panel of MPs that is appointed or elected by the House or nominated by the Speaker, and which works under the direction of the Speaker. It presents its report to the House or to the Speaker. There are 16 Departmentally Related Standing Committees for Lok Sabha and eight for Rajya Sabha; however, every Departmentally Related Standing Committee has members from both the houses. Lok Sabha and Rajya Sabha panels are headed by members of these respective houses. Parliamentary Committees have their origins in the British Parliament. They draw their authority from Article 105, which deals with the privileges of MPs, and Article 118, which gives Parliament authority to make rules to regulate its procedure and conduct of business. Context – A revamp of the Parliamentary Committees is set to take place soon
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