[Mission 2022] Insta– QUED ( Questions from Editorials ) 08 January 2022

Solution: b)

Eliminating all forms of illicit trade in tobacco products through a package of measures is one of the major objectives of the Protocol to Eliminate Illicit Trade in Tobacco Products under the World Health Organization’s Framework Convention on Tobacco Control. The Protocol provides the tools and the measures to eliminate or minimise illicit trade which includes strong governance, establishing an international track and trace system, and securing supply chains. India has already ratified the World Health Organization Protocol.

India had no significant tax increases on any of the tobacco products for the past four years since the introduction of GST in 2017 because of which tobacco products have become more affordable as shown in recent studies.

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Solution: a)

After the Stockholm Declaration on the Global Environment, the Constitution was amended in 1976 to include Protection and Improvement of Environment as a fundamental duty. Under Article 253, Parliament has the power to make laws for implementing international treaties and agreements and can legislate on the preservation of the natural environment. Parliament used Article 253 to enact the Environment Protection Act to implement the decisions reached at the Stockholm Conference.

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Solution: d)

Provisions in the Indian Constitution to uphold fair and free elections in India:

• Article 324 of the Indian Constitution grants powers to the Election Commission of India to direct and control free and fair elections in India. The powers of Superintendence have been vested in the Election Commission.
• Article 325 of the Constitution ensures universal suffrage and provides that no person be ineligible for inclusion in, or to claim to be included in a special, electoral roll on grounds of religion, race, caste or sex.
• Article 102 of the Constitution sets grounds for disqualification of MPs whereas Article 191sets out the same grounds for disqualification for member legislative assemblies.

Solution: b)

Assets are things a firm owns or what a firm can claim from others. In case of a bank, apart from buildings, furniture, etc., its assets are loans given to public.

Reserves are deposits which commercial banks keep with the Central bank, Reserve Bank of India (RBI) and its cash. These reserves are kept partly as cash and partly in the form of financial instruments (bonds and treasury bills) issued by the RBI. Reserves are similar to deposits we keep with banks. We keep deposits and these deposits are our assets, they can be withdrawn by us. Similarly, commercial banks like State Bank of India (SBI) keep their deposits with RBI and these are called Reserves.

Assets = Reserves + Loans

Liabilities for any firm are its debts or what it owes to others. For a bank, the main liability is the deposits which people keep with it.

Solution: a)

The Sunda Strait is the strait between the Indonesian islands of Java and Sumatra. It connects the Java Sea to the Indian Ocean.