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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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1. Question

Consider the following statements regarding Freedom of trade, commerce, and intercourse under the Indian Constitution:

Article 301 guarantees freedom of trade, commerce, and intercourse throughout the territory of India, subject to reasonable restrictions.

Article 304 empowers State Legislatures to impose restrictions on such freedom, but only with the prior sanction of the President.

Article 303 prohibits both Parliament and State Legislatures from making any law that gives preference to one State over another in matters of trade and commerce.

Solution: (d)

Solution: (d)

2. Question

Solution: (c)

Solution: (c)

3. Question

Consider the following statements:

Solution: (b)

Solution: (b)

4. Question

With reference to India’s Liberalised Remittance Scheme (LRS), consider the following statements:

A rise in outward remittances under LRS leads to a debit entry in India’s Balance of Payments (BoP) under the Current Account.

If remittances are used for purchase of equity abroad, they affect India’s Capital Account in the BoP.

The ceiling of USD 250,000 under LRS is per family per financial year, not per individual.

Solution: (b)

Solution: (b)

5. Question

Consider the following statements regarding the Foreign Contribution (Regulation) Act (FCRA):

Under FCRA rules, foreign contributions can only be received in a designated bank account at the State Bank of India’s New Delhi Main Branch.

Political parties in India are allowed to receive foreign contributions, provided they declare the source to the Election Commission of India.

Solution: (b)

Solution: (b)

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