Answer: C
Explanation
● The Finance Commission is a constitutional body set up under Article 280 of the
Constitution. Hence, statement 1 is correct.
● Under Article 280, the President of India is required to constitute a Finance Commission at
an interval of five years or earlier.
● The First Finance Commission was constituted in 1952 under the chairmanship of K.C.
Neogy.
What are the functions of the Finance Commission?
● It is the duty of the Commission to make recommendations to the President as to—
○ the distribution of tax proceeds between the Union and the States and the share of
each state.
○ the principles which should govern the grants-in-aid of the revenues of the
States out of the Consolidated Fund of India; Hence, statement 2 is correct.
○ the measures needed to augment the Consolidated Fund of a State to
supplement the resources of the Panchayats in the State on the basis of the
recommendations made by the Finance Commission of the State;
○ the measures needed to augment the Consolidated Fund of a State to
supplement the resources of the Municipalities in the State on the basis of the
recommendations made by the Finance Commission of the State;
○ any other matter referred to the Commission by the President in the interests of
sound finance.
Explanation
● The Finance Commission is a constitutional body set up under Article 280 of the
Constitution. Hence, statement 1 is correct.
● Under Article 280, the President of India is required to constitute a Finance Commission at
an interval of five years or earlier.
● The First Finance Commission was constituted in 1952 under the chairmanship of K.C.
Neogy.
What are the functions of the Finance Commission?
● It is the duty of the Commission to make recommendations to the President as to—
○ the distribution of tax proceeds between the Union and the States and the share of
each state.
○ the principles which should govern the grants-in-aid of the revenues of the
States out of the Consolidated Fund of India; Hence, statement 2 is correct.
○ the measures needed to augment the Consolidated Fund of a State to
supplement the resources of the Panchayats in the State on the basis of the
recommendations made by the Finance Commission of the State;
○ the measures needed to augment the Consolidated Fund of a State to
supplement the resources of the Municipalities in the State on the basis of the
recommendations made by the Finance Commission of the State;
○ any other matter referred to the Commission by the President in the interests of
sound finance.
4. Consider the following statements about Startups in India.
1) Startup India Initiative objectivizes transforming India into a country of job creators instead
of job seekers.
2) Entities formed by splitting up an existing business are eligible to be recognized as a startup
by the Department for Promotion of Industry and Internal Trade (DPIIT).
1) Startup India Initiative objectivizes transforming India into a country of job creators instead
of job seekers.
2) Entities formed by splitting up an existing business are eligible to be recognized as a startup
by the Department for Promotion of Industry and Internal Trade (DPIIT).
Which of the above statements(s) is/are correct?
Anonymous Quiz
57%
A. 1 only
12%
B. 2 only
30%
C. Both 1 and 2
1%
D. Neither 1 nor 2
5. With reference to Anti-defection law, consider the following statements.
1) A member voluntarily gives up party membership.
2) An independent candidate joins any political party after their election to legislature.
3) A nominated member joins a party before 6 months from his/her nomination.
1) A member voluntarily gives up party membership.
2) An independent candidate joins any political party after their election to legislature.
3) A nominated member joins a party before 6 months from his/her nomination.
Answer: A
Explanation
Startup India initiative
● The Startup India initiative of the Government of India envisages building a robust Start-
up ecosystem in the country for nurturing innovation and providing opportunities to
budding entrepreneurs.
● Since the launch of the initiative, Startup India has rolled out several programs with the
objective of supporting entrepreneurs, and transforming India into a country of job
creators instead of job seekers. Hence, statement 1 is correct.
Why in News?
● Since the launch of the Startup India initiative in 2016, the Department for Promotion of
Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, has recognised
98,119 entities as startups.
What is a DPIIT-recognized startup?
● An entity shall be considered a “Startup” –
1. If it’s incorporated as either Private Limited Company or Registered
Partnership Firm or Limited Liability Partnership. A sole proprietorship or a
public limited company is not eligible as startup.
2. If it is up to 10 years from the date of its incorporation/registration.
3. If its turnover for any of the financial years has not exceeded INR 100 crore
4. If it is working towards innovation, development or improvement of products or
processes or services, or if it is a scalable business model with a high potential of
employment generation or wealth creation.
5. Should not have been formed by splitting up or reconstruction of a business
already in existence. Hence, statement 2 is incorrect.
Explanation
Startup India initiative
● The Startup India initiative of the Government of India envisages building a robust Start-
up ecosystem in the country for nurturing innovation and providing opportunities to
budding entrepreneurs.
● Since the launch of the initiative, Startup India has rolled out several programs with the
objective of supporting entrepreneurs, and transforming India into a country of job
creators instead of job seekers. Hence, statement 1 is correct.
Why in News?
● Since the launch of the Startup India initiative in 2016, the Department for Promotion of
Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, has recognised
98,119 entities as startups.
What is a DPIIT-recognized startup?
● An entity shall be considered a “Startup” –
1. If it’s incorporated as either Private Limited Company or Registered
Partnership Firm or Limited Liability Partnership. A sole proprietorship or a
public limited company is not eligible as startup.
2. If it is up to 10 years from the date of its incorporation/registration.
3. If its turnover for any of the financial years has not exceeded INR 100 crore
4. If it is working towards innovation, development or improvement of products or
processes or services, or if it is a scalable business model with a high potential of
employment generation or wealth creation.
5. Should not have been formed by splitting up or reconstruction of a business
already in existence. Hence, statement 2 is incorrect.
In which of the above is/are disqualification possible?
Anonymous Quiz
12%
A. 1 only
66%
B. 1 and 2 only
12%
C. 1 and 3 only
10%
D. 2 only
Answer: B
Explanation:
● Disqualification is done when:
○ Member voluntarily gives up party membership; Hence, statement 1 is correct.
○ If a member violates a direction (whip) issued by his party to vote in a particular
way or to abstain from voting.
○ If an independent candidate joins any political party after their election to
legislature; Hence, statement 2 is correct.
○ If a nominated member joins a party after 6 months of his/her nomination.
Hence, statement 3 is incorrect.
Explanation:
● Disqualification is done when:
○ Member voluntarily gives up party membership; Hence, statement 1 is correct.
○ If a member violates a direction (whip) issued by his party to vote in a particular
way or to abstain from voting.
○ If an independent candidate joins any political party after their election to
legislature; Hence, statement 2 is correct.
○ If a nominated member joins a party after 6 months of his/her nomination.
Hence, statement 3 is incorrect.
World Legal Services Day
Today, we celebrate the mission of ensuring accessible legal aid for everyone.
Legal services are a fundamental right, and by empowering justice, we aim to make it accessible to all who seek it. Together, let’s strive for a world where justice is within reach for every individual, regardless of their background.
"Empowering Justice: Accessible Legal Aid for All."
#WorldLegalServicesDay #EmpoweringJustice #AccessibleLegalAid #JusticeForAll #LegalAwareness #RightToJustice
Today, we celebrate the mission of ensuring accessible legal aid for everyone.
Legal services are a fundamental right, and by empowering justice, we aim to make it accessible to all who seek it. Together, let’s strive for a world where justice is within reach for every individual, regardless of their background.
"Empowering Justice: Accessible Legal Aid for All."
#WorldLegalServicesDay #EmpoweringJustice #AccessibleLegalAid #JusticeForAll #LegalAwareness #RightToJustice
1. BISAG-N is a scientific society undertaking technology development in the area of
Choose the best answer
Anonymous Quiz
50%
A. Geo-spatial technology
17%
B. Transportation technology
17%
C. Aerospace technology
16%
D. Nuclear technology
Answer: A
Explanation
BISAG-N is an autonomous scientific society registered under the Societies Registration Act,
1860 under the Ministry of Electronics and Information Technology to undertake
technology development in the area of geo-spatial technology. Hence, answer is option A.
Why in News?
● PM GatiShakti District Master Plan (PMGS DMP) portal is being developed with technical
support of BISAG-N (Bhaskaracharya National Institute for Space Applications and
Geoinformatics) for collaborative planning at the District level by State/District authorities
Explanation
BISAG-N is an autonomous scientific society registered under the Societies Registration Act,
1860 under the Ministry of Electronics and Information Technology to undertake
technology development in the area of geo-spatial technology. Hence, answer is option A.
Why in News?
● PM GatiShakti District Master Plan (PMGS DMP) portal is being developed with technical
support of BISAG-N (Bhaskaracharya National Institute for Space Applications and
Geoinformatics) for collaborative planning at the District level by State/District authorities
2. Consider the following statements with reference to Insolvency and Bankruptcy Code
(Amendment) Act, 2021.
1) Pre-packaged insolvency resolution process (PIRP) is an alternate insolvency resolution
process for MSMEs.
2) PIRP can be initiated by debtors as well as creditors.
3) During PIRP, the management of the company will be handled by a Committee of Creditors.
(Amendment) Act, 2021.
1) Pre-packaged insolvency resolution process (PIRP) is an alternate insolvency resolution
process for MSMEs.
2) PIRP can be initiated by debtors as well as creditors.
3) During PIRP, the management of the company will be handled by a Committee of Creditors.
How many of the above statement(s) is/are correct?
Anonymous Quiz
26%
A. Only one
45%
B. Only two
27%
C. All three
2%
D. None
Answer: A
Explanation:
Insolvency and Bankruptcy Code (Amendment) Act, 2021
● In 2021, the Parliament passed the Insolvency and Bankruptcy Code (Amendment) Act,
2021 to provide an alternate insolvency resolution process (known as pre-packaged
insolvency resolution process (PIRP) for MSMEs. Hence, statement 1 is correct.
● Unlike CIRP, PIRP may be initiated only by debtors. Application for initiating PIRP may
be filed in the event of a default of at least one lakh rupees. Hence, statement 2 is
incorrect.
● During PIRP, the management of the company will remain with the debtor. Hence,
statement 3 is incorrect.
Explanation:
Insolvency and Bankruptcy Code (Amendment) Act, 2021
● In 2021, the Parliament passed the Insolvency and Bankruptcy Code (Amendment) Act,
2021 to provide an alternate insolvency resolution process (known as pre-packaged
insolvency resolution process (PIRP) for MSMEs. Hence, statement 1 is correct.
● Unlike CIRP, PIRP may be initiated only by debtors. Application for initiating PIRP may
be filed in the event of a default of at least one lakh rupees. Hence, statement 2 is
incorrect.
● During PIRP, the management of the company will remain with the debtor. Hence,
statement 3 is incorrect.
Which of the statement(s) given above is/are correct?
Anonymous Quiz
8%
A. 1 only
19%
B. 2 only
72%
C. Both 1 and 2
2%
D. Neither 1 nor 2
3. With reference to the National Green Hydrogen Mission, consider the following
statements.
1) The scheme aims to make India a global hub for export of green hydrogen.
2) The scheme also objectivizes building an enabling ecosystem to support scaling and
development.
statements.
1) The scheme aims to make India a global hub for export of green hydrogen.
2) The scheme also objectivizes building an enabling ecosystem to support scaling and
development.
4.. Consider the following:
1) Australia
2) China
3) Canada
4) Japan
5) Jordan
1) Australia
2) China
3) Canada
4) Japan
5) Jordan
How many of the above countries are part of the Regional Comprehensive Economic Partnership
(RCEP) ?
(RCEP) ?
Anonymous Quiz
11%
A. Only two
47%
B. Only three
37%
C. Only four
5%
D. All five
Answer: C
Explanation
About National Green Hydrogen Mission
● Launched in 2023, the National Green Hydrogen Mission aims to promote green
hydrogen in a bid to cut emissions and become a major exporter in the field.
● The overarching objective of the Mission is to make India the Global Hub for production,
usage and export of Green Hydrogen and its derivatives. Hence, statement 1 is
correct.
● The Mission will build capabilities to produce at least 5 Million Metric Tonne (MMT) of
Green Hydrogen per annum by 2030, with potential to reach 10 MMT per annum with
growth of export markets.
● The Ministry of New & Renewable Energy will be responsible for overall coordination
and implementation of the Mission.
Mission Components
● The Mission strategy accordingly comprises interventions for:
○ demand creation by making Green Hydrogen produced in India competitive for
exports and through domestic consumption.
○ addressing supply side constraints through an incentive framework, and
○ building an enabling ecosystem to support scaling and development. Hence,
statement 2 is correct.
Expected Benefits
● The targets by 2030 are likely to bring in over Rs. 8 lakh crore investments and create
over 6 lakh jobs.
● Nearly 50 MMT per annum of CO2 emissions are expected to be averted by 2030.
● This will contribute to India’s aim to become Aatmanirbhar (self-reliant) through clean
energy and achieve net-zero carbon emissions by 2070.
Why in News?
● The Government of India has issued a call for proposals to establish Centres of Excellence
(CoEs) for Green Hydrogen research under the National Green Hydrogen Mission.
● These Centres of Excellence will serve as hubs of innovation, working to advance Green
Hydrogen technology, and address challenges in the field.
Explanation
About National Green Hydrogen Mission
● Launched in 2023, the National Green Hydrogen Mission aims to promote green
hydrogen in a bid to cut emissions and become a major exporter in the field.
● The overarching objective of the Mission is to make India the Global Hub for production,
usage and export of Green Hydrogen and its derivatives. Hence, statement 1 is
correct.
● The Mission will build capabilities to produce at least 5 Million Metric Tonne (MMT) of
Green Hydrogen per annum by 2030, with potential to reach 10 MMT per annum with
growth of export markets.
● The Ministry of New & Renewable Energy will be responsible for overall coordination
and implementation of the Mission.
Mission Components
● The Mission strategy accordingly comprises interventions for:
○ demand creation by making Green Hydrogen produced in India competitive for
exports and through domestic consumption.
○ addressing supply side constraints through an incentive framework, and
○ building an enabling ecosystem to support scaling and development. Hence,
statement 2 is correct.
Expected Benefits
● The targets by 2030 are likely to bring in over Rs. 8 lakh crore investments and create
over 6 lakh jobs.
● Nearly 50 MMT per annum of CO2 emissions are expected to be averted by 2030.
● This will contribute to India’s aim to become Aatmanirbhar (self-reliant) through clean
energy and achieve net-zero carbon emissions by 2070.
Why in News?
● The Government of India has issued a call for proposals to establish Centres of Excellence
(CoEs) for Green Hydrogen research under the National Green Hydrogen Mission.
● These Centres of Excellence will serve as hubs of innovation, working to advance Green
Hydrogen technology, and address challenges in the field.
Answer: B
Explanation
About RCEP
● Regional Comprehensive Economic Partnership (RCEP) is a free trade agreement between
15 Asia-Pacific nations.
● The signatory countries include 10 Association of Southeast Asian Nations (ASEAN)
members — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines,
Singapore, Thailand and Vietnam — and their five trade partners — Australia, China,
Japan, South Korea and New Zealand. Hence, answer is option B.
● RCEP entered into force in 2022.
● India was initially involved in the negotiations. However, India withdrew from the
negotiations in 2019 amid concerns that elimination of tariffs would open India’s markets to
imports, which in turn could harm local producers.
Why in News?
● Niti Aayog CEO BVR Subrahmanyam said that India should be a part of the Regional
Comprehensive Economic Partnership and Comprehensive and Progressive
Agreement for Trans-Pacific Partnership.
Explanation
About RCEP
● Regional Comprehensive Economic Partnership (RCEP) is a free trade agreement between
15 Asia-Pacific nations.
● The signatory countries include 10 Association of Southeast Asian Nations (ASEAN)
members — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines,
Singapore, Thailand and Vietnam — and their five trade partners — Australia, China,
Japan, South Korea and New Zealand. Hence, answer is option B.
● RCEP entered into force in 2022.
● India was initially involved in the negotiations. However, India withdrew from the
negotiations in 2019 amid concerns that elimination of tariffs would open India’s markets to
imports, which in turn could harm local producers.
Why in News?
● Niti Aayog CEO BVR Subrahmanyam said that India should be a part of the Regional
Comprehensive Economic Partnership and Comprehensive and Progressive
Agreement for Trans-Pacific Partnership.