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Introducing yet another ingenious course, InsightsIAS is excited to announce our new initiative QUED – Questions from Editorials. Considering the number of questions that appeared from Editorials in previous year UPSC Prelims Examinations, we feel it is wise for students to cover Editorials from Prelims point of view as well in order to achieve that extra edge. Although, we have covered important editorials separately in our Editorial Section as well as under Secure Initiative, MCQ practice can prove to be crucial for better performance and guaranteed result.
We strongly recommend you at add QUED along with Static Quiz ,Current Affairs Quiz and RTM for your Daily MCQ practice.
We will be posting 5 MCQs at 11am everyday from Monday to Saturday on http://www.insightsonindia.com. QUED will be available under QUIZ menu.
We hope students utilize this initiative to the best of advantage. 🙂
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Question 1 of 5
1. Question
Consider the following statements regarding Bureau of Energy Efficiency (BEE).
- Bureau of Energy Efficiency (BEE), is a statutory body under Ministry of Environment, Forest and Climate Change.
- It is responsible for spearheading the improvement of energy efficiency in the economy through various regulatory and promotional instruments.
- It helps in Preparing educational curriculum on efficient use of energy and its conservation.
Which of the above statements is/are correct?
Correct
Solution: c)
The Energy Conservation Act (EC Act) was enacted in 2001 with the goal of reducing energy intensity of Indian economy. Bureau of Energy Efficiency (BEE), a statutory body under Ministry of Power is responsible for spearheading the improvement of energy efficiency in the economy through various regulatory and promotional instruments. Bureau of Energy Efficiency (BEE) was set up as the statutory body on 1st March 2002 at the central level to facilitate the implementation of the EC Act.
The Major Promotional Functions of BEE include:
Create awareness and disseminate information on energy efficiency and conservation Arrange and organize training of personnel and specialists in the techniques for efficient use of energy and its conservation Strengthen consultancy services in the field of energy conservation Promote research and development Develop testing and certification procedures and promote testing facilities Formulate and facilitate implementation of pilot projects and demonstration projects Promote use of energy efficient processes, equipment, devices and systems Take steps to encourage preferential treatment for use of energy efficient equipment or appliances Promote innovative financing of energy efficiency projects Give financial assistance to institutions for promoting efficient use of energy and its conservation Prepare educational curriculum on efficient use of energy and its conservation Implement international co-operation programmes relating to efficient use of energy and its conservation Incorrect
Solution: c)
The Energy Conservation Act (EC Act) was enacted in 2001 with the goal of reducing energy intensity of Indian economy. Bureau of Energy Efficiency (BEE), a statutory body under Ministry of Power is responsible for spearheading the improvement of energy efficiency in the economy through various regulatory and promotional instruments. Bureau of Energy Efficiency (BEE) was set up as the statutory body on 1st March 2002 at the central level to facilitate the implementation of the EC Act.
The Major Promotional Functions of BEE include:
Create awareness and disseminate information on energy efficiency and conservation Arrange and organize training of personnel and specialists in the techniques for efficient use of energy and its conservation Strengthen consultancy services in the field of energy conservation Promote research and development Develop testing and certification procedures and promote testing facilities Formulate and facilitate implementation of pilot projects and demonstration projects Promote use of energy efficient processes, equipment, devices and systems Take steps to encourage preferential treatment for use of energy efficient equipment or appliances Promote innovative financing of energy efficiency projects Give financial assistance to institutions for promoting efficient use of energy and its conservation Prepare educational curriculum on efficient use of energy and its conservation Implement international co-operation programmes relating to efficient use of energy and its conservation -
Question 2 of 5
2. Question
The balance of payments includes both the current account and capital account. Consider the following statements regarding this
- The current account includes a nation’s net trade in goods and services, its net earnings on cross-border investments, and its net transfer payments.
- The capital account is included in calculations of national output, while the current account is not.
Which of the above statements is/are incorrect?
Correct
Solution: b)
The balance of payments (BOP) transactions consist of imports and exports of goods, services, and capital, as well as transfer payments, such as foreign aid and remittances. A country’s balance of payments and its net international investment position together constitute its international accounts.
The balance of payments divides transactions into two accounts: the current account and the capital account. Sometimes the capital account is called the financial account, with a separate, usually very small, capital account listed separately. The current account includes transactions in goods, services, investment income, and current transfers.
The capital account, broadly defined, includes transactions in financial instruments and central bank reserves. Narrowly defined, it includes only transactions in financial instruments. The current account is included in calculations of national output, while the capital account is not.
Incorrect
Solution: b)
The balance of payments (BOP) transactions consist of imports and exports of goods, services, and capital, as well as transfer payments, such as foreign aid and remittances. A country’s balance of payments and its net international investment position together constitute its international accounts.
The balance of payments divides transactions into two accounts: the current account and the capital account. Sometimes the capital account is called the financial account, with a separate, usually very small, capital account listed separately. The current account includes transactions in goods, services, investment income, and current transfers.
The capital account, broadly defined, includes transactions in financial instruments and central bank reserves. Narrowly defined, it includes only transactions in financial instruments. The current account is included in calculations of national output, while the capital account is not.
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Question 3 of 5
3. Question
PESA Act empowers gram sabhas to play a key role in approving development plans and controlling all social sectors. This includes
- Exercising control over all forest resources.
- Regulating intoxicants
- Managing local markets
- Preventing land alienation
Select the correct answer code:
Correct
Solution: b)
PESA empowers gram sabhas to play a key role in approving development plans and controlling all social sectors. This includes the processes and personnel who implement policies, exercising control over minor (non-timber) forest resources, minor water bodies and minor minerals, managing local markets, preventing land alienation and regulating intoxicants among other things.
The gram sabha would have the powers to monitor and prohibit the manufacturing, transport, sale and consumption of intoxicants within their village limits.
Incorrect
Solution: b)
PESA empowers gram sabhas to play a key role in approving development plans and controlling all social sectors. This includes the processes and personnel who implement policies, exercising control over minor (non-timber) forest resources, minor water bodies and minor minerals, managing local markets, preventing land alienation and regulating intoxicants among other things.
The gram sabha would have the powers to monitor and prohibit the manufacturing, transport, sale and consumption of intoxicants within their village limits.
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Question 4 of 5
4. Question
Consider the following statements regarding RBI’s Open Market Operations (OMOs).
- OMOs can be used to tame short-term inflation in the economy.
- No intermediaries such as commercial banks are involved in OMOs.
- They are to be mandatorily conducted once every year to adjust liquidity in the security markets.
Which of the above statements is/are correct?
Correct
Solution: a)
OMOs are conducted by the RBI by way of sale or purchase of government securities (g-secs) to adjust money supply conditions.
RBI carries out the OMO through commercial banks and does not directly deal with the public.
The central bank sells g-secs to suck out liquidity from the system and buys back g-secs to infuse liquidity into the system.
These operations are often conducted on a day-to-day basis in a manner that balances inflation while helping banks continue to lend.
The RBI uses OMO along with other monetary policy tools such as repo rate, cash reserve ratio and statutory liquidity ratio to adjust the quantum and price of money in the system.
When the RBI wants to increase the money supply in the economy, it purchases the government securities from the market and it sells government securities to suck out liquidity from the system.
Incorrect
Solution: a)
OMOs are conducted by the RBI by way of sale or purchase of government securities (g-secs) to adjust money supply conditions.
RBI carries out the OMO through commercial banks and does not directly deal with the public.
The central bank sells g-secs to suck out liquidity from the system and buys back g-secs to infuse liquidity into the system.
These operations are often conducted on a day-to-day basis in a manner that balances inflation while helping banks continue to lend.
The RBI uses OMO along with other monetary policy tools such as repo rate, cash reserve ratio and statutory liquidity ratio to adjust the quantum and price of money in the system.
When the RBI wants to increase the money supply in the economy, it purchases the government securities from the market and it sells government securities to suck out liquidity from the system.
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Question 5 of 5
5. Question
Caspian Sea is bordered by
Correct
Solution: c)
Caspian Sea is bordered by following countries:
Incorrect
Solution: c)
Caspian Sea is bordered by following countries:
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