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 ‘Constitution Bench’
- It is a bench of the Supreme Court having a minimum of seven judges on it
- They are set up on an ad hoc basis as and when the need arises
- It is set up only when there is a substantial question of law as to the interpretation of this Constitution
How many of the statement(s) given above are correct
Correct
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Correct Incorrect Constitution bench is the name given to the benches of the Supreme Court of India which consist of at least five judges of the court which sit to decide any case “involving a substantial question of law as to the interpretation” of the Constitution of India or “for the purpose of hearing any reference” made by the President of India under Article 143 Presently, Constitution Benches are set up on an ad hoc basis (particular purpose) as and when the need arises. Article 145(3) provides, “The minimum number of Judges who are to sit for the purpose of deciding any case involving a substantial question of law as to the interpretation of this Constitution or for the purpose of hearing any reference under Article 143 shall be five.” Context – The Supreme Court said it may refer the Delhi government’s petition against a Central Ordinance to a Constitution Bench for an authoritative pronouncement.
Incorrect
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Correct Incorrect Constitution bench is the name given to the benches of the Supreme Court of India which consist of at least five judges of the court which sit to decide any case “involving a substantial question of law as to the interpretation” of the Constitution of India or “for the purpose of hearing any reference” made by the President of India under Article 143 Presently, Constitution Benches are set up on an ad hoc basis (particular purpose) as and when the need arises. Article 145(3) provides, “The minimum number of Judges who are to sit for the purpose of deciding any case involving a substantial question of law as to the interpretation of this Constitution or for the purpose of hearing any reference under Article 143 shall be five.” Context – The Supreme Court said it may refer the Delhi government’s petition against a Central Ordinance to a Constitution Bench for an authoritative pronouncement.
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Question 2 of 5
2. Question
Consider the following statements about ‘External Commercial Borrowings (ECBs)’
Statement 1 – ECBs refer to the borrowing of funds by Indian companies from foreign sources in the form of loans, bonds or other financial instruments.
Statement 2 – It can be used to finance a variety of purposes including the repayment of existing debt.
Which one of the following is correct in respect of the above statements?
Correct
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Correct Correct External Commercial Borrowings (ECBs) refer to the borrowing of funds by Indian companies from foreign sources in the form of loans, bonds, or other financial instruments. ECB can be obtained from a variety of sources, including foreign banks, international financial institutions, and foreign subsidiaries of Indian companies. It can be used to finance a variety of purposes, including the expansion of business, the acquisition of assets, and the repayment of existing debt. Companies must also meet certain eligibility criteria in order to access ECB, such as minimum credit ratings and debt-equity ratios. Context – The Reserve Bank of India (RBI) recently said that agreements for external commercial borrowings (ECBs) signed by Corporate India jumped to a massive $12 billion in the April-June quarter of 2023, three times the level in the year-ago period.
Incorrect
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Correct Correct External Commercial Borrowings (ECBs) refer to the borrowing of funds by Indian companies from foreign sources in the form of loans, bonds, or other financial instruments. ECB can be obtained from a variety of sources, including foreign banks, international financial institutions, and foreign subsidiaries of Indian companies. It can be used to finance a variety of purposes, including the expansion of business, the acquisition of assets, and the repayment of existing debt. Companies must also meet certain eligibility criteria in order to access ECB, such as minimum credit ratings and debt-equity ratios. Context – The Reserve Bank of India (RBI) recently said that agreements for external commercial borrowings (ECBs) signed by Corporate India jumped to a massive $12 billion in the April-June quarter of 2023, three times the level in the year-ago period.
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Question 3 of 5
3. Question
Consider the following parameters
- School attendance
- Cooking fuel
- Housing
- Bank accounts
- Nutrition
How many of the above mentioned parameters are used to compute National Multidimensional Poverty Index?
Correct
Solution (d)
National Multidimensional Poverty Index is prepared based on the latest National Family Heath Survey of 2019-21 and is the second edition of the National Multidimensional Poverty Index (MPI). Totally 12 parameters of health, education and standard of living are examined in the report. These include nutrition, child and adolescent mortality, maternal health, years of schooling, school attendance, cooking fuel, sanitation, drinking water, electricity, housing, assets, and bank accounts. The report follows Alkire-Foster methodology developed by its technical partners — the Oxford Poverty and Human Development Initiative (OPHI) and United Nations Development Programme (UNDP). It was released by NITI Aayog.
Context – A record 13.5 crore people moved out of multidimensional poverty between 2015-16 and 2019-21 as per NITI Aayog’s Report ‘National Multidimensional Poverty Index: A Progress Review 2023’
Incorrect
Solution (d)
National Multidimensional Poverty Index is prepared based on the latest National Family Heath Survey of 2019-21 and is the second edition of the National Multidimensional Poverty Index (MPI). Totally 12 parameters of health, education and standard of living are examined in the report. These include nutrition, child and adolescent mortality, maternal health, years of schooling, school attendance, cooking fuel, sanitation, drinking water, electricity, housing, assets, and bank accounts. The report follows Alkire-Foster methodology developed by its technical partners — the Oxford Poverty and Human Development Initiative (OPHI) and United Nations Development Programme (UNDP). It was released by NITI Aayog.
Context – A record 13.5 crore people moved out of multidimensional poverty between 2015-16 and 2019-21 as per NITI Aayog’s Report ‘National Multidimensional Poverty Index: A Progress Review 2023’
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Question 4 of 5
4. Question
With reference to ‘Advance Authorisation Scheme’, consider the following statements
- It allows duty free import of only those inputs which are physically incorporated in an export product
- It bars the sale of such products that has availed the scheme in the domestic market
- This scheme is implemented by the Directorate General of Foreign Trade
How many of the statement(s) given above are correct
Correct
Solution (b)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Correct Correct Advance Authorisation Scheme allows duty free import of inputs, which are physically incorporated in an export product. In addition to any inputs, packaging material, fuel, oil, catalyst which is consumed / utilized in the process of production of export product, is also be allowed. Beneficiaries under the scheme are not allowed to sell the products in the domestic market. The Advance Authorization is valid for 12 months from the date of issue of such Authorization. Directorate General of Foreign Trade (DGFT) implements the Advance Authorisation Scheme under the Foreign Trade Policy, which allows duty-free import of inputs for export purposes. The eligibility of inputs is determined by Sector-specific Norms Committees based on input-output norms. Context – DGFT implements the Advance Authorisation Scheme, allows duty-free import of inputs for export purposes
Incorrect
Solution (b)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Correct Correct Advance Authorisation Scheme allows duty free import of inputs, which are physically incorporated in an export product. In addition to any inputs, packaging material, fuel, oil, catalyst which is consumed / utilized in the process of production of export product, is also be allowed. Beneficiaries under the scheme are not allowed to sell the products in the domestic market. The Advance Authorization is valid for 12 months from the date of issue of such Authorization. Directorate General of Foreign Trade (DGFT) implements the Advance Authorisation Scheme under the Foreign Trade Policy, which allows duty-free import of inputs for export purposes. The eligibility of inputs is determined by Sector-specific Norms Committees based on input-output norms. Context – DGFT implements the Advance Authorisation Scheme, allows duty-free import of inputs for export purposes
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Question 5 of 5
5. Question
‘Kerch Strait’ connects which of the following two seas
Correct
Solution (c)
Context – Russia halted Black Sea Grain initiative that allowed Ukraine to ship grain in a hit to global food security
Incorrect
Solution (c)
Context – Russia halted Black Sea Grain initiative that allowed Ukraine to ship grain in a hit to global food security
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