QUIZ – 2020: Insights Current Affairs Quiz, 30 March 2021

Solution: d)

To bridge the gap between projected budgetary requirements and budget allocation for defence and internal security and to provide greater predictability for enabling critical defence capital expenditure, the Commission has recommended setting up of a dedicated non-lapsable fund, the Modernisation Fund for Defence and Internal Security (MFDIS), with four specific sources: (a) Transfers from the Consolidated Fund of India, (b) disinvestment proceeds of DPSEs, (c) proceeds from the monetisation of surplus defence land and (d) proceeds of receipts from defence land likely to be transferred to state governments and for public projects in the future.

Source

Solution: c)

Eight Core Industries are Electricity, steel, refinery products, crude oil, coal, cement, natural gas and fertilizers.

Solution: b)

Exceptions under the law:

Legislators may change their party without the risk of disqualification in certain circumstances.

The law allows a party to merge with or into another party provided that at least two-thirds of its legislators are in favour of the merger.

In such a scenario, neither the members who decide to merge, nor the ones who stay with the original party will face disqualification.

Decision of the Presiding Officer is subject to judicial review

Source

Solution: c)

Article 280 of the Constitution of India provides for a Finance Commission as a quasi-judicial body. It is constituted by the president of India every fifth year or at such earlier time as he considers necessary.

The commission submits its report to the president. He lays it before both the Houses of Parliament along with an explanatory memorandum as to the action taken on its recommendations.

The recommendations made by the Finance Commission are only of advisory nature and hence, not binding on the government. It is up to the Union government to implement its recommendations on granting money to the states.

Solution: a)

As the preeminent nuclear watchdog under the UN, the IAEA is entrusted with the task of upholding the principles of the Nuclear Non-Proliferation Treaty of 1970. Established as an autonomous organisation on July 29, 1957, at the height of the Cold War between the U.S. and the Soviet Union, the IAEA claims that it “works with its member states and multiple partners worldwide to promote the safe, secure and peaceful use of nuclear technologies”. Though established independently of the UN through its own international treaty, the agency reports to both the UN General Assembly and the Security Council.

Source