The following quiz will have 5-10 MCQs. The questions are mainly framed from The Hindu and PIB news articles.
This quiz is intended to introduce you to concepts and certain important facts relevant to UPSC IAS civil services preliminary exam 2018. It is not a test of your knowledge. If you score less, please do not mind. Read again sources provided and try to remember better.
Please try to enjoy questions, discuss the concepts and facts they try to test from you and suggest improvements.
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INSIGHTS CURRENT EVENTS QUIZ 2019
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The following Quiz is based on the Hindu, PIB and other news sources. It is a current events based quiz. Solving these questions will help retain both concepts and facts relevant to UPSC IAS civil services exam.
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Question 1 of 5
1. Question
1 pointsWhich of the following would be the implications of issuing international sovereign bonds by Indian Government.
- It can lead to higher foreign inflows into India.
- It could also improve the attractiveness of rupee-denominated sovereign bonds.
- The rates at which the government borrows overseas will act as a yardstick for pricing of other corporate bonds.
- Fluctuations in exchange rate may lead to increased pay out pressure on the issuing government.
Select the correct answer code:
Correct
Solution: d)
The issue of international sovereign bonds will have several long-term implications. It may facilitate the inclusion of India’s government bonds in the global debt indices. India’s representation in global debt market indices is small compared to other emerging markets. This may lead to higher foreign inflows into India.
Two, inclusion in global benchmarks would also improve the attractiveness of rupee-denominated sovereign bonds. Three, the rates at which the government borrows overseas will act as a yardstick for pricing of other corporate bonds, helping India Inc raise money overseas. While some commentators think that the government can borrow at very low costs overseas, this argument is weak, as it will have to hedge against forex risks.
But despite so many benefits, there are risks too. Dollar-denominated bonds are more sensitive to global interest rates. Global shocks, as seen in the 2013 taper tantrums, can lead to heightened selling pressure on Indian bonds.
Incorrect
Solution: d)
The issue of international sovereign bonds will have several long-term implications. It may facilitate the inclusion of India’s government bonds in the global debt indices. India’s representation in global debt market indices is small compared to other emerging markets. This may lead to higher foreign inflows into India.
Two, inclusion in global benchmarks would also improve the attractiveness of rupee-denominated sovereign bonds. Three, the rates at which the government borrows overseas will act as a yardstick for pricing of other corporate bonds, helping India Inc raise money overseas. While some commentators think that the government can borrow at very low costs overseas, this argument is weak, as it will have to hedge against forex risks.
But despite so many benefits, there are risks too. Dollar-denominated bonds are more sensitive to global interest rates. Global shocks, as seen in the 2013 taper tantrums, can lead to heightened selling pressure on Indian bonds.
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Question 2 of 5
2. Question
1 pointsThe 15th Finance Commission has reduced the weight in which of the following criteria compared to the 14th Finance Commission, for devolution of funds to states.
- Population
- Forest and Ecology
- Income distance
- Geographical area
Select the correct answer code:
Correct
Solution: b)
The 15th Finance Commission has used the 2011 Census as the sole criteria for population but has reduced the weight for population to 15% from the earlier 27.5%. While retaining the 15% assigned to geographical area, it has enhanced the focus on forest and ecology from 7.5% to 10%.
It has also reduced the weight of income distance (how much lower or higher than the national average a state is) from 50% to 45% to provide higher devolution to the states with lower per capita income. Demographic performance and tax effort have been brought in as parameters to reward the states performing better on both these counts.Incorrect
Solution: b)
The 15th Finance Commission has used the 2011 Census as the sole criteria for population but has reduced the weight for population to 15% from the earlier 27.5%. While retaining the 15% assigned to geographical area, it has enhanced the focus on forest and ecology from 7.5% to 10%.
It has also reduced the weight of income distance (how much lower or higher than the national average a state is) from 50% to 45% to provide higher devolution to the states with lower per capita income. Demographic performance and tax effort have been brought in as parameters to reward the states performing better on both these counts. -
Question 3 of 5
3. Question
1 pointsThe 15th Finance Commission recommended which of the following grants to be provided to states.
- Revenue deficit grants
- Grants to local bodies
- Disaster management grants
Select the correct answer code:
Correct
Solution: c)
In 2020-21, the following grants will be provided to states: (i) revenue deficit grants, (ii) grants to local bodies, and (iii) disaster management grants. The Commission has also proposed a framework for sector-specific and performance-based grants.
Revenue deficit grants: In 2020-21, 14 states are estimated to have an aggregate revenue deficit of Rs 74,340 crore post-devolution. The Commission recommended revenue deficit grants for these states.
Grants to local bodies: The total grants to local bodies for 2020-21 has been fixed at Rs 90,000 crore, of which Rs 60,750 crore is recommended for rural local bodies (67.5%) and Rs 29,250 crore for urban local bodies (32.5%). The grants will be divided between states based on population and area in the ratio 90:10. The grants will be made available to all three tiers of Panchayat- village, block, and district.
Disaster risk management: The Commission recommended setting up National and State Disaster Management Funds (NDMF and SDMF) for the promotion of local-level mitigation activities. The Commission has recommended retaining the existing cost-sharing patterns between the centre and states to fund the SDMF (new) and the SDRF (existing). The cost-sharing pattern between centre and states is (i) 75:25 for all states, and (ii) 90:10 for north-eastern and Himalayan states.
Incorrect
Solution: c)
In 2020-21, the following grants will be provided to states: (i) revenue deficit grants, (ii) grants to local bodies, and (iii) disaster management grants. The Commission has also proposed a framework for sector-specific and performance-based grants.
Revenue deficit grants: In 2020-21, 14 states are estimated to have an aggregate revenue deficit of Rs 74,340 crore post-devolution. The Commission recommended revenue deficit grants for these states.
Grants to local bodies: The total grants to local bodies for 2020-21 has been fixed at Rs 90,000 crore, of which Rs 60,750 crore is recommended for rural local bodies (67.5%) and Rs 29,250 crore for urban local bodies (32.5%). The grants will be divided between states based on population and area in the ratio 90:10. The grants will be made available to all three tiers of Panchayat- village, block, and district.
Disaster risk management: The Commission recommended setting up National and State Disaster Management Funds (NDMF and SDMF) for the promotion of local-level mitigation activities. The Commission has recommended retaining the existing cost-sharing patterns between the centre and states to fund the SDMF (new) and the SDRF (existing). The cost-sharing pattern between centre and states is (i) 75:25 for all states, and (ii) 90:10 for north-eastern and Himalayan states.
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Question 4 of 5
4. Question
1 pointsThe first multilateral bloc to declare climate emergency is
Correct
Solution: c)
European Union (EU) has become the first multilateral bloc to declare climate emergency.
Similar climate emergency declarations have already been made in several EU member states, including Spain, France and the United Kingdom. Outside Europe Canada, Argentina and Bangladesh have declared a climate emergency.
Incorrect
Solution: c)
European Union (EU) has become the first multilateral bloc to declare climate emergency.
Similar climate emergency declarations have already been made in several EU member states, including Spain, France and the United Kingdom. Outside Europe Canada, Argentina and Bangladesh have declared a climate emergency.
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Question 5 of 5
5. Question
1 pointsConsider the following statements regarding Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006.
- The Act grants legal recognition to the rights of traditional forest dwelling communities, partially correcting the injustice caused by the forest laws.
- To be eligible to get the rights, the claimant must be a member of the Scheduled Tribes scheduled in that area or must have been residing in the forest for 70 years.
- The act provides rehabilitation in case of illegal eviction or forced displacement.
Which of the above statements is/are correct?
Correct
Solution: c)
The Mizoram government had passed a resolution revoking the implementation of the Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006 (FRA).
About Forest Rights Act (FRA):
- The act was passed in December 2006.
- It deals with the rights of forest-dwelling communities over land and other resources.
- The Act grants legal recognition to the rights of traditional forest dwelling communities, partially correcting the injustice caused by the forest laws.
Rights under the Act:
- Title rights –Ownership to land that is being farmed by tribals or forest dwellers subject to a maximum of 4 hectares; ownership is only for land that is actually being cultivated by the concerned family, meaning that no new lands are granted.
- Use rights –to minor forest produce (also including ownership), to grazing areas, to pastoralist routes, etc.
- Relief and development rights –to rehabilitation in case of illegal eviction or forced displacement; and to basic amenities, subject to restrictions for forest protection.
- Forest management rights –to protect forests and wildlife.
Eligibility to get rights under the Act is confined to those who “primarily reside in forests” and who depend on forests and forest land for a livelihood. Further, either the claimant must be a member of the Scheduled Tribes scheduled in that area or must have been residing in the forest for 75 years.
Incorrect
Solution: c)
The Mizoram government had passed a resolution revoking the implementation of the Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006 (FRA).
About Forest Rights Act (FRA):
- The act was passed in December 2006.
- It deals with the rights of forest-dwelling communities over land and other resources.
- The Act grants legal recognition to the rights of traditional forest dwelling communities, partially correcting the injustice caused by the forest laws.
Rights under the Act:
- Title rights –Ownership to land that is being farmed by tribals or forest dwellers subject to a maximum of 4 hectares; ownership is only for land that is actually being cultivated by the concerned family, meaning that no new lands are granted.
- Use rights –to minor forest produce (also including ownership), to grazing areas, to pastoralist routes, etc.
- Relief and development rights –to rehabilitation in case of illegal eviction or forced displacement; and to basic amenities, subject to restrictions for forest protection.
- Forest management rights –to protect forests and wildlife.
Eligibility to get rights under the Act is confined to those who “primarily reside in forests” and who depend on forests and forest land for a livelihood. Further, either the claimant must be a member of the Scheduled Tribes scheduled in that area or must have been residing in the forest for 75 years.