[Mission 2023] Current Affairs Quiz , 22 February 2023

Solution: a)

Since 2015, the BEE has been running the ‘Perform, Achieve, Trade’ scheme under which 1,078 industries spanning 13 sectors have been getting energy security certificates if they exceeded certain targets.

The EU is required to cut emissions under the provisions of the United Nations Framework Convention on Climate Change. India doesn’t have an obligation. However, we have committed to reducing the emissions intensity (emissions per unit of GDP) of our GDP by 45% (of 2005 levels) by 2030.

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Solution: b)

The EFF was established to provide assistance to countries experiencing serious payment imbalances because of structural impediments or slow growth and an inherently weak balance-of-payments position. An EFF provides support for comprehensive programs including the policies needed to correct structural imbalances over an extended period.

Extended arrangements are typically approved for periods of three years, but may be approved for periods as long as 4 years to implement deep and sustained structural reforms. Amounts drawn under an EFF are to be repaid over 4½–10 years in 12 equal semiannual installments.

As with other IMF lending, the size of borrowing under an EFF is guided by a country’s financing needs, capacity to repay, and track record with past use of IMF resources.

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Solution: c)

The address of the President follows a general structure in which it highlights the government’s accomplishments from the previous year and sets the broad governance agenda for the coming year.

The President or Governor cannot refuse to perform the constitutional duty of delivering an address to the legislature. But there can be situations when they deviate from the text of the speech prepared by the government. So far, there have been no instances of a President doing so. But there have been occasions when a Governor skipped or changed a portion of the address to the Assembly.

After the President’s address, the two Houses move a motion to thank the President for her speech. This is an occasion for MPs in the two Houses to have a broad debate on governance in the country. The issues raised by MPs are then addressed by the Prime Minister, who also replies to the motion of thanks. The motion is then put to vote and MPs can express their disagreement by moving amendments to the motion.

Opposition MPs have been successful in getting amendments passed to the motion of thanks in Rajya Sabha on five occasions, including in 1980, 1989, 2001, 2015 and 2016. However, they have been less successful in the Lok Sabha. 

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Solution: a)

Depreciation is the gradual decrease in the economic value of the capital stock of a firm, nation or other entity. It can happen either by physical depreciation like wear and tear or obsolescence or by changes in the demand for the services of the capital.

Capital stock is anything that adds to the productive capacity of the economy. Spending on infrastructure actually increase the capital stock of the nation.

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.