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[Solution] – 10 PM Daily Quiz – 31 March, 2016

We posted 9 questions in 10 PM Daily Quiz yesterday. Thanks for the amazing response. These questions will help you polish concepts based on current affairs. In case you have not attempted them, please attempt them by clicking below

Q.1) Which one is not correctly matched?

a) Freedom of speech and expression                  Include freedom of press
b) Freedom of conscience                                         Include right to wear and carry Kirpans by Sikhs
c) Right to personal liberty                                        Include right to carry on any trade or business
d) Right to equality                                                        Include principles of natural justice

Answer: c

Explanations:

Freedom of speech and expression Art 19 (1)(a) provides for right to express views of other using any medium, this makes the freedom of press implicit in the article.

It Implies that every citizen has the right to express his views, opinion, belief, and convictions freely by word of mouth, writing, printing, picturing or in any other manner. The supreme court held that the article includes the following:

  1. Right to propagate one’s views as well as views of others.
  2. Freedom of the press
  3. Freedom of commercial advertisement
  4. Right against tapping of telephonic conversation
  5. Right to telecast, that is, government has no monopoly on electronic media.
  6. Right against bundh called by a political party or organisation
  7. Right to know about government activities
  8. Freedom of silence
  9. Right against imposition of pre censorship on a newspaper
  10. Right to demonstrate or picketing but no right to strike

Freedom of conscience relates to complete freedom of religion which allow for right to practise, profess and propagate one’s religion. The Sikh carrying a kripan is his fundamental right under right to profess one’s religion.

According to Supreme Court Principle of Natural Justice aren’t encompassed but inherit principles of constitution. The SC in C.I.W.T Corp v/s Bolo Nath Ganguly 1986 case held that the rules of Principles of Natural justice are implicit under Article 14 (i.e. right to equality)

In India there is no statute laying down the minimum procedure which administrative agencies must follow while exercising decision-making powers. This minimum fair procedure refers to the principles of natural justice Natural justice is a concept of common law and represents higher procedural principles developed by the courts, which every judicial, quasi-judicial and administrative agency must follow while taking any decision adversely affecting the rights of a private individual. Natural justice implies fairness, equity and equality.

In India, the principles of natural justice are firmly grounded in Article 14 & 21 of the Constitution. With the introduction of concept of substantive and procedural due process in Article 21, all that fairness which is included in the principles of natural justice can be read into Art. 21. The violation of principles of natural justice results in arbitrariness; therefore, violation of natural justice is a violation of Equality clause of Art. 14.

Right to carry on any trade or business is included in Freedom of profession.

Note: For any confusion related to the answers always go for 100% wrong answer.


Q.2) With reference to investment modes, consider the following statements

1. Venture capital and Private Equity always deal with the same kind of companies.
2. Venture capital invest mostly in start-ups.

Select the correct answer using the codes given below:

a) 1 only
b) Both are true
c) Neither is true
d) 2 only

Answer: d

Explanations: Private equity is sometimes confused with venture capital because they both refer to firms that invest in companies and exit through selling their investments in equity financing, such as initial public offerings (IPOs).Private equity firms mostly buy mature companies that are already established. The companies may be deteriorating or not making the profits they should be due to inefficiency. Private equity firms buy these companies and streamline operations to increase revenues. Venture capital firms, on the other hand, mostly invest in start-ups with high growth potential.Private equity firms can buy companies from any industry, while venture capital firms are limited to start-ups in technology, biotechnology and clean technology. Private equity firms also use both cash and debt in their investment, but venture capital firms deal with equity only


Q.3) Which of the following are characteristics of our defence industry?

1. It is evolutionary in nature
2. It is highly technology-intensive.
3. It demands one time- high level of Research and Development.

Select the correct answer using the codes given below:
a) 1 and 2
b) 1 and 3
c) 2 and 3
d) 1, 2 and 3

Answer: a

Explanations: Only one time investment in R&D cannot sustain any industry. It has to be continuous, and defense industry is no exception.It also demands continuous high levels of research and development (R&D) investment. Defense industry is highly technology-intensive as it deals with interdisciplinary approach of various engineering fields. Our defense industry is still in its nascent stage. It has lot of grounds to cover, we are dependent on imports to fulfill our requirement. But as we are moving towards an indigenous defense industry, with technology transfer from other nations, so our defense industry is still evolving


Q.4) To increase growth in the Indian economy what is essential?
1. Attracting more FDI and trade by opening up
2. Improving labour market regulations
3. Unifying tax regime
4. Reduce manufacturing and focus on imports. 

Select the correct answer using the codes given below:

a) 1 and 2
b) 1,2 and 3
c) 1,2, 3 and 4
d) 1,3 and 4

Answer: b

Explanations: 

FDI- FDIs have created tremendous opportunities for India’s development and helped to boost the performance of local firms as well as the globalisation of some of them. This has undeniably raised India’s stature among developing countries.

India needs massive investments to sustain high quality economic growth, particularly in the energy and infrastructure sectors. Policymakers are looking at FDI as the primary source of funds. It is important to keep in mind that FDI on its own is not a panacea for rapid growth and development.

What India needs is to put in place a comprehensive development strategy, which includes being open to trade and FDI. This should go a long way in fulfilling the ultimate goal of permanently eradicating poverty.

The huge number of indirect taxes makes a complex web about the incidence, burden and collection of the taxes. Also, this entitles to cascading of tax which tends to push the cost to a higher side. Unifying tax regime will get rid of complexities and cascading of taxes making it easier also for government in collection of the taxes. The inferred simplicity can also lead to decrease in tax evasion and widening of tax base.

Improving labour market regulations will help both the industry and the labourers. At the workforce side, there will be certainty about service conditions and environment, hence providing a secure net for the livelihood of the labour. On the industry side better labour regulation will help them avoid situation where regular labour union strikes lead to loss of man hours and hence productivity.

Focusing on imports will drive out incentives for the domestic manufacturers. This is bound to happen as developed countries has better technologies to produce goods at a lower cost which will make domestically manufactured goods at a tad higher prices incompetitive when pitched against cheaper imported goods. India has a similar experience in its early years after independence when it was heavily dependent on imports and it didn’t pan out well for the economy.


Q.5) What is true about Asian development Bank?
1. Provides input for policy makers for ADB’s developing member countries
2. Researches on medium- to long-term development issues of strategic importance
3. Identify effective development strategies and improve the capacity for sound development of the agencies and organizations engaged in development work
4. Analysis of emerging policy issues from regional as well as medium- to long-term perspectives

Select the correct answer using the codes given below:

a) 1 and 4
b) 1 and 3
c) 1,2 and 4
d) All are true

Answer: d

Explanations: The Asian Development Bank was conceived in the early 1960s as a financial institution that would be Asian in character and foster economic growth and cooperation in one of the poorest regions in the world.

A resolution passed at the first Ministerial Conference on Asian Economic Cooperation held by the United Nations Economic Commission for Asia and the Far East in 1963 set that vision on the way to becoming reality.

The Philippines capital of Manila was chosen to host the new institution, which opened on 19 December 1966, with 31 members that came together to serve a predominantly agricultural region. Takeshi Watanabe was ADB’s first President

ADB assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development. ADB is composed of 67 members, 48 of which are from the Asia and Pacific region.

As a multilateral development finance institution, ADB provides:

  • loans
  • technical assistance
  • grants

Member governments, are also shareholders. Provides direct assistance to private enterprises of developing member countries through equity investments and loans.

ADB maximizes the development impact of its assistance by

  • facilitating policy dialogues,
  • providing advisory services, and
  • mobilizing financial resources through co-financing operations that tap official, commercial, and export credit sources

ADB operations are designed to support the three complementary agendas of inclusive economic growth, environmentally sustainable growth, and regional integration. ADB employs its limited resources in its areas of comparative strength—the core areas of:

  • Infrastructure (water, energy, transport, urban development, information and communications technology)
  • Environment
  • Regional cooperation and integration
  • Finance sector development
  • Education

ADB also operates on a limited scale in other areas, including

  • Health
  • Agriculture and natural resources
  • Public sector management

Q.6) Consider the following statements regarding Emergency proclamation and Out of these which of the following statement is/are correct?

1) Emergency proclamation under article 356 shall be approved by the parliament within a period of 2 months
2) 
Emergency proclamation under article 356 approved by the parliament shall be in force for a period of 6 months
3) Emergency proclamation under article 356 shall not be vogue beyond a period of 3 years

select the correct code given below:

a) 1 only
b) 2 only
c) 3 only
d) 1, 2 and 3 

Answer: d

Explanations:

A proclamation imposing president’s Rules must be approved by both the Houses of Parliament within two months from the date of its issue.

If approved by both the House of Parliament, the President’s Rule continues for six months. It can be extended for a maximum period of three years with the approval of the Parliament, every six months.


Q.7) Based on the recommendations of a sub-committee of chief ministers formed by Niti Aayog, three category system is devised for different central sponsored scheme. Which of the following statement/s is/are true:

1. Core of the Core schemes  will have 75% share of centre and 25% share of the state
2. Core schemes will have 60:40 formula (centre:state)
3. Optional Schemes will have 50:50 formula (centre:state)

Select the correct code:

a) 1 and 2 only
b) 2 and 3 only
c) 1 and 3 only
d) 1, 2 and 3

Answer: d

Explanations: Please find explanation at http://forumias.com/portal/9-pm-daily-brief-31-march-2016/#Budget-sets-priorities-for-government-spending

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  • ashishbsnl

    thank you for such great initiative.

  • generic_cse_aspirant

    7 is B. Core of core schemes would retain their existing ratio

  • pankaj

    thanks sir

  • Raptor_22

    in ques 1, regarding Principles of natural justice, SC in Gopalan case stated that principles of natural justice are not valid for laws under Art 21.
    In that case, how is natural justice principle inherent in the Constitution?

  • Shailu

    7 is B)

    As per the new system, the Core of the Core schemes will retain their
    expenditure allocation framework. For example, MGNREGA had 75 per cent
    of the material expenditure from the Centre and 25 per cent from the
    states.

  • Tyrion Lannister

    THANK YOU

  • sanima_nhi_dekhte_ka

    Great Initiative..