[Mission 2022] QUIZ – 2021: Insights Current Affairs Quiz ,02 December 2021

Solution: b)

What is the procedure to repeal a law in India?

The law can be repealed by the government in two ways;

• First to bring a Bill to repeal the three laws, and
• Second is to promulgate an ordinance that will have to be consequently replaced with a Bill within six months.

• For repeal, the power of Parliament is the same as enacting a law under the Constitution.
• Article 245 of the Indian Constitution empowers the Parliament to enact as well as to repeal any law.
• That is, the Parliament has the power to make laws and also to repeal them through the Repealing and Amendment Act. In 1950, the first Act was passed and 72 Acts were repealed.
• Like any other Bill, the Repealing and Amendment Bill will pass in the same way as any other Bill. It will have to be passed by both Houses of Parliament and the President’s assent will be required to make it a law.

Solution: a)

Distributed ledger technology (DLT) and Block Chain technology:

• Distributed ledger technology (DLT) is a digital system for recording the transaction of assets in which the transactions and their details are recorded in multiple places at the same time.
• Unlike traditional databases, distributed ledgers have no central data store or administration functionality.
• Whether distributed ledger technologies, such as blockchain, will revolutionize how governments, institutions and industries work is an open question.
• Blockchain technology is a specific kind of DLT that came to prominence after Bitcoin, a cryptocurrency that used it, became popular.
• Cryptocurrencies such as Bitcoin use codes to encrypt transactions and stack them up in blocks, creating Blockchains. It is the use of codes that differentiates cryptocurrencies from other virtual currencies.

Solution: d)

Solution: b)

India is a signatory to the United Nations Brasilia Declaration on road safety, which called for reducing road fatalities by 50% by 2020.

India has seen 26.48% reduction in road accidents and 22% drop in deaths in 2020 against 2019.

Source

Solution: d)

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.