[Mission 2023] Current Affairs Quiz ,29 December 2022

Solution: c)

The World Bank in its latest India Development Report titled ‘Navigating the Storm’ lifted its growth forecast for India’s economy this year to 6.9%, after having downgraded it to 6.5% in October, citing resilience in economic activity despite a deteriorating external environment.

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Solution: c)

The MGNREGA is a demand driven scheme, guaranteeing 100 days of unskilled work to any rural household that wants it.

At least 100 days of wage employment is guaranteed against the demand made by a rural household.

Unemployment allowances is paid to beneficiaries who could not be employed within 15 days from the date of they have demanded for work.

All other demands for work, where the beneficiary has already completed 100 days in the current financial year or the beneficiary who demanded work died before 15 days of the date of the demand of work are not eligible for unemployment allowances.

Women are guaranteed one third of the jobs made available under the MGNREGA.

Solution: b)

The Vasyugan Swamp is the largest swamp in the northern hemisphere as well as the largest peatland in the world. It is located in Russia, in southwestern Siberia.

The swamp is a major reservoir of fresh water for the region, and the Vasyugan river has its source there.

Mount Elbrus is the highest peak in Russia.

Solution: d)

Delimitation is the act of redrawing boundaries of Lok Sabha and state Assembly seats to represent changes in population. The main objective of delimitation is to provide equal representation to equal segments of a population.

Delimitation is carried out by an independent Delimitation Commission, appointed by the Government of India under provisions of the Delimitation Commission Act. The Delimitation Commission is appointed by the President of India and works in collaboration with the Election Commission of India. It is composed of the following: a retired Supreme Court judge, the Chief Election Commissioner of India and respective State Election Commissioners.

The Commission is a powerful and independent body whose orders cannot be challenged in any court of law. The orders are laid before the Lok Sabha and the respective State Legislative Assemblies. However, modifications are not permitted.

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Solution: b)

Inflation:

• Inflation refers to the rise in the prices of most goods and services of daily or common use, such as food, clothing, housing, recreation, transport, consumer staples, etc.
• Inflation measures the average price change in a basket of commodities and services over time.
• The opposite and rare fall in the price index of this basket of items is called ‘deflation’.
• Inflation is indicative of the decrease in the purchasing power of a unit of a country’s currency.
• RBI through its Monetary Policy Committee (MPC) Controls Money supply in the market.
• Inflation is measured by a central government authority, which is in charge of adopting measures to ensure the smooth running of the economy. In India, the Ministry of Statistics and Programme Implementation measures inflation.
• Inflation is primarily measured by two main indices — WPI (Wholesale Price Index) and CPI (Consumer Price Index), which measure wholesale and retail-level price changes, respectively.