QUIZ – 2017: Insights Current Affairs Quiz, 07 DECEMBER 2017

Solution: b.

The term Artha stands for material well-being and is one of the Purusharthas (the legitimate goals of human existence). The Arthashastra states very categorically that Artha is superior to Dharma (spiritual well-being) and Kama (sensual pleasure). The Arthashastra is in effect the science of statecraft.

Kautilya’s work mainly deals with internal administration and inter-state relations.

Pg 322: https://books.google.co.in/books?id=GW5Gx0HSXKUC&printsec=frontcover#v=onepage&q=Arthashastra&f=false;

Improvisation (reference to Kautilya): http://pib.nic.in/newsite/PrintRelease.aspx?relid=174134;

Solution: c.

Section 4 of the RTI Act contains the proactive disclosure norms (suo moto disclosure).

Improvisation: http://pib.nic.in/newsite/PrintRelease.aspx?relid=174134;

Solution: c.

The Agriculture Minister said that India has always had an active association with IFAD ever since it was set up in 1977 as the 13th specialized agency of the United Nations. India is a founder member of IFAD, a key contributor among the member Countries, participates actively in the Fund’s governing bodies, and holds a permanent seat in IFAD Executive Board (oversees the general operations). It currently holds the chairmanship of the Governing Council (the highest decision-making authority of IFAD) and of the Evaluation Committee.

http://pib.nic.in/newsite/PrintRelease.aspx?relid=174150;

https://www.ifad.org/who/overview;

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Solution: c.

A mains-oriented question.

Output gap is the difference between the actual output of an economy and the potential output an economy can generate at full capacity.

“In the latest policy resolution statement, the Reserve Bank of India (RBI) said that MPC has kept the policy stance neutral ‘keeping in mind the output gap dynamics’.”

“If we go by the RBI working paper’s assessment, then the output gap is poised to close very soon after which demand pressures would be enough to warrant tightening of the monetary policy. It would become easier for RBI to adopt a hawkish tone (advocating higher interest rates) if inflation moves up as it expects it to, and the central government breaches its budgeted fiscal deficit target. The chances of both are getting higher by the day…”

http://www.livemint.com/Money/6TI31yjNHVTyD39gOrHNRN/RBI-monetary-policy-Mind-the-output-gap.html;

Improvisation: http://www.thehindu.com/opinion/editorial/unwavering-caution/article21284624.ece;

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Ans: a.

The G4 nations are – Brazil, Germany, India and Japan.

http://www.thehindu.com/opinion/lead/let-us-be-realistic-about-the-unsc/article21284696.ece;

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