[Mission 2024] Current Affairs Quiz , 14 August 2023

Solution: a)

Only Statement 3 is correct.

Convention on Cluster Munitions (CCM) was enacted in May 2008. The enactment of the CCM has been a major step in eradicating cluster bombs. However, the treaty is not universal — 112 countries have acceded to the CCM including many North Atlantic Treaty Organization (NATO) members such as Canada, Germany, France, and the United Kingdom. But important countries such as the U.S., Russia, China, Israel, and India have not signed the CCM. Ukraine is not a member.

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Solution: c)

The Constitution specifies that the Prime Minister is the head of the Council of Ministers. Therefore, the PM responds to the debate whenever MPs discuss a no-confidence motion in Lok Sabha. The opposition parties’ move requires the PM to reply to the charges they bring during the discussion.

In India’s cabinet form of government, the Council of Ministers is collectively responsible to Lok Sabha. The rules of Lok Sabha provide the mechanism of a no-confidence motion to test whether the Council of Ministers continues to enjoy the confidence of the House.

Twenty-seven no-confidence motions have been moved so far. None of these motions has been successful. 

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Solution: b)

Statement 3 is incorrect.

A no-confidence motion aims at or should aim at removing the party in government and taking its place.

The debate on a no-confidence motion is also wide-ranging. Participating MPs raise both national and state issues during this debate.

The rules of procedure of Lok Sabha specify that after the no-confidence motion is admitted, the Speaker shall specify the date on which the debate will begin. This date should be within 10 days from the date the motion was accepted in the House.

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Solution: a)

Only statement 1 is correct.

Nominal GDP is nothing but the total market value of all the goods and services produced in India in a financial year. For purposes of analysing the economy one often uses the “real” GDP but for preparing the budget, it is the nominal GDP that matters. The real GDP is “derived” from the nominal GDP by removing the effect of inflation.

Once the government knows the nominal GDP of the current financial year, it uses this number to project the likely nominal GDP in the next financial year for which the budget is being made.

Typically in India, as indeed is the case with most developing economies, the governments are forced to spend more than they earn. That means they have to borrow money from the market. But overtime India instituted strict rules limiting how much the Union government can borrow. These limits are set by the Fiscal responsibility and Budget Management (FRBM) Act. The FRBM Act stipulates that the total borrowings (fiscal deficit) cannot be more than 3% of the (nominal) GDP.

Solution: d)

What are carbon bombs?

Defining the term in its report, The Guardian said that it is “an oil or gas project that will result in at least a billion tonnes of CO2 emissions over its lifetime.”

Whenever coal, oil, or gas is extracted it results in pollution and environmental degradation. Further, carbon emissions take place in particularly large amounts when fuel is burned.

Net zero emissions means that all carbon emissions into the atmosphere must be absorbed by methods like increasing the forest cover, and decreasing man-made emissions.