Q1.  Which of the following statements is/are correct?

  1. Since 1976, our country has both state-directed education and centre-directed education co-existing.
  2. Any change in the subjects of the three lists of seventh schedule can be done only through a constitutional amendment.

 Select the correct answer using the codes given below:

 (a) 1 only           

(b) 2 only

 (c) Both 1 and 2       

(d) Neither 1 nor 2

Option C is correct.

Both statements are correct.  Education was moved from being a state subject to the concurrent list only in 1976 -- till then it was quite completely the state’s domain. Now, we have both state-directed education and centre-directed education co-existing. Any change in the subjects of the three lists of seventh schedule can be done only through a constitutional amendment.

https://www.newindianexpress.com/cities/bengaluru/2020/sep/01/the-concurrent-list-2190770.html

Q2. Consider the following statements regarding the Emergency Credit Line Guarantee Scheme (ECLGS):

  1.  Under the scheme, additional funding of up to Rs 3 lakh crore was granted by the government, in the form of a fully guaranteed emergency credit line.
  2. The scope of the scheme extends to cover the manufacturing sector only.

Which of the Statements given above is/are correct?

(a) 1 only            

(b) 2 only

 (c) Both 1 and 2       

(d) Neither 1 nor 2

Option A is correct.

Statement 1 is correct. ECGLS was introduced by the government to mitigate the economic distress faced by micro, small and medium enterprises (MSMEs) because of the COVID-19 pandemic by providing them additional funding of up to Rs 3 lakh crore in the form of a fully guaranteed emergency credit line.

Statement 2 is incorrect. The government on Wednesday extended the Emergency Credit Line Guarantee Scheme (ECLGS) till June 30 and expanded its scope to cover enterprises in hospitality, travel and tourism, leisure and sporting sectors.

https://www.businesstoday.in/current/economy-politics/emergency-credit-line-guarantee-scheme-extended-till-june-30/story/435370.html

Q3. With reference to the Inflation targeting, consider the following statements:

  1. Inflation targeting is a monetary policywhere the central banksets a specific inflation rate as its goal. 
  2. The inflation target applies to the core inflationrate.

Which of the Statements given above is/are correct?

(a) 1 only               

(b) 2 only

 (c) Both 1 and 2       

(d) Neither 1 nor 2

Option C is correct.        

Both statements are correct. Inflation targeting is a monetary policy where the central bank sets a specific inflation rate as its goal. The inflation target applies to the core inflation rate. It takes out the effect of food and energy prices. These prices are volatile, swinging wildly from month-to-month.

https://www.thebalance.com/inflation-targeting-definition-how-it-works-3305854#:~:text=Inflation%20targeting%20is%20a%20monetary,an%20inflation%20target%20of%2

Q4. With reference to the Agriculture Produce Market Regulation (APMC), consider the following statements:

  1. The APMC Acts mandated that the sale/purchase of agricultural commodities is carried out in a specified market area, and traders pay the requisite market fee and commissions for the commission agents (arhatias). 
  2. These have proved to be successful, as the farmers got the desired platform as well as prices for their commodities.

Which of the Statements given above is/are correct?

(a) 1 only               

(b) 2 only

 (c) Both 1 and 2  

(d) Neither 1 nor 2

Option A is correct.                                                       

Statement 1 is correct. The APMC Acts mandated that the sale/purchase of agricultural commodities is carried out in a specified market area, and traders pay the requisite market fee and commissions for the commission agents (arhatias).                                                         

Statement 2 is incorrect. The golden period for APMC markets lasted till around 1991. With time, there was a palpable loss in growth in market facilities and by 2006, it had declined to less than one-fourth of the growth in crop output after which there was no further growth. This increased the woes of Indian farmers as market facilities did not keep pace with the increase in output and regulation did not allow farmers to sell outside APMC markets.

https://indianexpress.com/article/explained/explained-ideas-how-apmc-markets-went-from-being-a-solution-to-a-problem-6864862/

Q5. In a major push towards deep technology and driving the country to become a digitally transformed nation, AIM-PRIME (programme for Researchers on Innovations, Market-Readiness & Entrepreneurship), to promote and support science-based deep-tech startups & ventures across India, has been launched by

(a) Ministry of Science and Technology  

 (b) NITI Aayog 

 (c) ISRO

 (d) Ministry of Education

Option B is correct. In a major push towards deep technology and driving the country to become a digitally transformed nation, AIM-PRIME (programme for Researchers on Innovations, Market-Readiness & Entrepreneurship), to promote and support science-based deep-tech startups & ventures across India, has been launched by Innovation Mission (AIM), NITI Aayog.

https://www.biospectrumindia.com/news/20/18354/niti-aayog-launches-aim-prime-to-support-science-based-startups.html

Q6. Consider the following statements regarding the party symbols used during elections in India:

  1.  Symbols have become a crucial part of the electoral process since the beginning of 21st century. 
  2. As per the Election Symbols (Reservation and Allotment) (Amendment) Order, 2017, party symbols are “reserved” only.

Which of the Statements given above is/are correct?

(a) 1 only            

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Option D is correct.

Both statements are incorrect. Symbols have become a crucial part of the electoral process ever since India held its first national polls in 1951-52. As per the Election Symbols (Reservation and Allotment) (Amendment) Order, 2017, party symbols are either “reserved” or “free”. While eight national parties and 64 state parties across the country have “reserved” symbols, the Election Commission also has a pool of nearly 200 “free” symbols that are allotted to the thousands of unrecognised regional parties that pop up before elections.

https://indianexpress.com/article/explained/bihar-assembly-elections-how-election-commission-decides-on-party-symbols-6723466/

Q7. With reference to the Open market Operations, consider the following statements:

  1. It refers to a central bank buying or selling short-term Treasuries in the open market in order to influence the money supply.
  2. Buying securities through the open market operations adds money to the system, making loans easier to obtain and interest rates decline.

Which of the Statements given above is/are correct?

(a) 1 only            

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Option C is correct.

Statement 1 is correct. Open market operations (OMO) refers to a central bank buying or selling short-term Treasuries and other securities in the open market in order to influence the money supply, thus influencing short term interest rates.

Statement 2 is correct. Buying securities through the open market operations adds money to the system, making loans easier to obtain and interest rates decline.

https://www.investopedia.com/terms/o/openmarketoperations.asp

Q8. Consider the following statements:

  1. According to the Disturbed Areas (Special Courts) Act, 1976 once declared ‘disturbed’, the area has to maintain status quo for a minimum of six months.
  2. ‘Disturbed Areas Act’ of all the north-eastern states of India, bans sale of property by a member of one religious community to a member of another community, without the prior approval of the district collector.

Which of the Statements given above is/are correct?

(a) 1 only            

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Option D is correct.        

Both statements are incorrect. According to the Disturbed Areas (Special Courts) Act, 1976 once declared ‘disturbed’, the area has to maintain status quo for a minimum of 3 months. ‘Disturbed Areas Act’ of Gujarat, bans sale of property by a member of one religious community to a member of another community, without the prior approval of the district collector.      

https://freepresskashmir.news/2017/08/21/impose-disturbed-areas-act-to-prevent-muslims-from-acquiring-residential-properties-of-hindus-bjp-mla/

Ques  Ans:

1-(c)

2-(a)

3-(c)

4-(a)

5-(b)

6-(d)

7-(c)

8-(d)