Current based PRELIMS QUESTION 5 MARCH 2020

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1. Consider the following statements with respect to Sun Temple, Konârak.
1. This was built in the 13th-century by Narasimha Deva I of Ganga dynasty of Orissa.
2. It was built by using red sandstone (Khandolite) and black granite.
3. This is directly associated with the idea and belief of the personification of the Sun God, which is adumbrated in the Vedas and classical texts.
Which of the statement(s) given above is/are correct?
(a) 2 and 3 only
(b) 1 and 2 only
(c) 1 and 3 only
(d) 1, 2 and 3

2. Consider the following statements with respect to Financial Action Task Force (FATF).
1. It was established by the the G-7 Summit that was held in Paris in 1989.

2. India is a founding member of this organisation.
3. Its purpose is to combat money laundering and terror financing.
4. The FATF’s decision making body, the FATF Plenary, meets three times per year.
Which of the statement(s) given above is/are correct?
(a) 1, 2 and 4 only
(b) 1, 3 and 4 only
(c) 2, 3 and 4 only
(d) 1, 2, 3 and 4

3. Consider the following statements regarding BIMSTEC.
1. Each sector and its sub- sector of BIMSTEC will be headed by a member country on a rotational basis for 3 years.
2. MILEX is the military field training exercise of BIMSTEC countries.
3. It was formed through the Bangkok Declaration of 1997.
Which of the statement(s) given above is/are correct?
(a) 2 and 3 only
(b) 1 and 2 only
(c) 1 and 3 only
(d) 1, 2 and 3

4. Consider the following statements.
1. Election Commission resolves the disputes relating to splits/mergers of recognized political parties.
2. Right to vote is a constitutional right in India
3. In the election for LokSabha or State Assembly, the winning candidate must get at least 50 percent of the votes polled, to be declared elected.
4. Right to vote provided under the Representation of the People Act was subject to restrictions imposed by the law, which does not allow prisoners to cast vote.
Which of the statement(s) given above is/are correct?
(a) 1, 2 and 4 only
(b) 2 and 4 only
(c) 2, 3 and 4 only
(d) 1, 2, 3 and 4

5. Which of the following measures should be taken when an economy is going through in inflationary pressures?
1. The direct taxes should be increased.
2. The interest rate should be increased.
3. The public spending should be increased
Select the correct answer using the code given below:
(a) 1 and 2 only
(b) 1 Only
(c) 2 only
(d) 1 and 3 Only

1.Answer-d
Explanation
Sun Temple, Konârak
The thirteenth-century Sun Temple (also known as the Black Pagoda), built-in Orissa red sandstone (Khandolite) and black granite. The Konark Sun Temple had been built as one of the finest examples of Brahmin architecture and beliefs. Built to honor the Sun God, Arka, the temple complex displays the enormous wealth, talent, and spirituality of the Brahmin in Orissa. Hinduism, the world’s oldest continuously practiced religion, presents a mixture of the spiritually sublime and the earthly erotic in the Konark Temple.
The temple was listed as a UNESCO World Heritage Site in 1984.
On the shores of the Bay of Bengal, bathed in the rays of the rising sun, the temple at Konarak is a monumental representation of the sun god Surya’s chariot.
A masterpiece of creative genius in both conception and realisation, the temple represents a chariot of the Sun God, with twelve pairs of wheels drawn by seven horses evoking its movement across the heavens.
The Sun Temple is an exceptional testimony, in physical form, to the 13th-century Ganga Empire of Orissa, under the reign of Narasimha Deva I (AD 1238-1264).
Like many Indian temples, the Sun Temple comprises several distinct and well-organized spatial units. The vimana (principal sanctuary) was surmounted by a high tower with a shikhara (crowning cap), which was razed in the 19th century. To the east, the jahamogana (audience hall) dominates the ruins with its pyramidal mass. Farther to the east, the natmandir (dance hall), today unroofed, rises on a high platform.
The Sun Templeis directly associated with the idea and belief of the personification of the Sun God, which is adumbrated in the Vedas and classical texts. The Sun is personified as a divine being with a history, ancestry, family, wives and progeny, and as such, plays a very prominent role in the myths and legends of creation.
A unique artistic achievement, the temple has risen up those lovely legends which are affiliated everywhere with absolute works of art: its construction caused the mobilization of 1,200 workers for 12 years. The architect, Bisu Moharana, having left his birthplace to devote himself to his work, became the father of a son while he was away.

 

2.Answer-b
Explanation
In response to mounting concern over money laundering, the Financial Action Task Force on Money Laundering (FATF) was established by the G-7 Summit that was held in Paris in 1989 with headquarters in Paris..
Recognising the threat posed to the banking system and to financial institutions, the G-7 Heads of State or Government and President of the European Commission convened the Task Force from the G-7 member States, the European Commission and eight other countries.
The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.
The FATF is therefore a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
The FATF monitors the progress of its members in implementing necessary measures, reviews money laundering and terrorist financing techniques and counter-measures, and promotes the adoption and implementation of appropriate measures globally.
In collaboration with other international stakeholders, the FATF works to identify national-level vulnerabilities with the aim of protecting the international financial system from misuse.
The FATF’s decision making body, the FATF Plenary, meets three times per year.
The 39 Members of the FATF
The FATF currently comprises 37 member jurisdictions and 2 regional organisations (the Gulf Cooperation Council and the European Commission are also its members), representing most major financial centres in all parts of the globe. It includes all 5 permanent members of UNSC.
Indonesia is an observer nation.
India is not a founding member. It is a member of the FATF since 2010.
Financial Action Task Force (FATF) has recently decided to continue Pakistan in the ‘grey list’, despite New Delhi’s push to blacklist the neighbour over terror funding.

 

3.Answer-d
Explanation
Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC)
 BIMSTEC is a sector-driven cooperative sub-regional organization.
 It came into being in 1997 through the Bangkok Declaration.
 Its member States lie in the littoral and adjacent areas of the Bay of Bengal.
 7 Member States: Bangladesh, Bhutan, India, Nepal, Sri Lanka, Myanmar and Thailand.
 Initially, it was an economic bloc with four Member States called BIST-EC (Bangladesh, India, Sri Lanka and Thailand Economic Cooperation).
 Then it became BIMST-EC (Bangladesh, India, Myanmar, Sri Lanka and Thailand Economic Cooperation) following the inclusion of Myanmar.
 With the admission of Nepal and Bhutan, it became BIMSTEC.
 There are 14 areas of cooperation among BIMSTEC countries. Each sector and its sub- sector will be headed by a member country on a rotational basis for 3 years.

 

4.Answer-a
Explanation-
The EC has three Election Commissioners. The EC also decides the election schedule. Election Commission resolves the disputes relating to splits/mergers of recognized political parties.
NCERT Class IX textbook clearly mentions the line in the chapter ‘Democratic Politics’: “Right to vote in elections is an important constitutional right.” NCERT Class XI textbook says, “What is true of the right to vote is also true of right to contest election.”
Who can vote and who cannot?
Under Section 62(5) of the Representation of the People Act, 1951, individuals in lawful custody of the police and those serving a sentence of imprisonment after conviction cannot vote. Undertrial prisoners are also excluded from participating in elections even if their names are on electoral rolls.
Only those under preventive detention can cast their vote through postal ballots.
In the election for LokSabha or State Assembly, the winning candidate must get highest of the votes polled among all candidates, to be declared elected. India has First Past the Post System.
ELECTION COMMISSION OF INDIA
It is an autonomous constitutional authority responsible for administering electoral processes in India formed on 25 January 1950.
It administers elections to the Lok Sabha, State Legislative assemblies, and the offices of the President and Vice President in India.
Article 324 of the Indian Constitution mentions about composition, functions, etc of the Election Commission of India.
The Representation of People Act, 1951 provides for the conduct of elections of the Houses of the Parliament and to the House(s) of the Legislature of each state. It was enacted under Article 327 of Indian Constitution.
COMPOSITION (since the Election Commissioner Amendment Act, 1989) = Chief Election Commissioner + 2 Election Commissioners (usually retired IAS officers).
At state level, Election Commission is assisted by the Chief Electoral Officer of the State (an IAS officer of Principal Secretary Rank).
At the district and constituency levels, the District Magistrates and other officers perform election work.
REMOVAL FROM OFFICE: The Chief Election Commissioner can be removed from his office similar to the removal of a judge of the Supreme Court of India. Other Election Commissioners can be removed by the President of India on the recommendation of the Chief Election Commissioner.
FUNCTIONS: It serves as the guardian of elections in the country. Conducting elections at regular intervals is very essential for a democratic policy.
MODERNISATION: The commission has been working on new technologies to bring fairness to the election procedure. Introduction of Electronic Voting Machines and Voter-verified paper audit trial (VVPAT) are steps in this direction. The symbol of none of the Above (NOTA) has also been added on the voting machines.

 

5.Answer-a
Explanation-

What is 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. This is measured in percentage.
What are the effects of Inflation?
The purchasing power of a currency unit decreases as the commodities and services get dearer. This also impacts the cost of living in a country. When inflation is high, the cost of living gets higher as well, which ultimately leads to a deceleration in economic growth. A certain level of inflation is required in the economy to ensure that expenditure is promoted and hoarding money through savings is demotivated.
As money generally loses its value over time, it is important for people to invest the money. Investing ensures the economic growth of a country.
Who measures Inflation in India?
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.
How is Inflation measured?
In India, 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. The CPI calculates the difference in the price of commodities and services such as food, medical care, education, electronics etc, which Indian consumers buy for use.
On the other hand, the goods or services sold by businesses to smaller businesses for selling further are captured by the WPI. In India, both WPI (Wholesale Price Index) and CPI (Consumer Price Index) are used to measure inflation.
What are the main causes of Inflation?
The main causes of inflation in India have been subject to considerable debates and discussions. These are some of the chief reasons for the increase in prices:
• High demand and low production or supply of multiple commodities creates a demand-supply gap, which leads to a hike in prices.
• Excess circulation of money leads to inflation as money loses its purchasing power.
• With people having more money, they also tend to spend more, which causes increased demand.
Also, note the following pointers:
• Spurt in production prices of certain commodities also causes inflation as the price of the final product increases. This is called cost-push inflation.
• Increase in the prices of goods and services is also a factor to consider as the involved labour also expects and demands more costs/wages to maintain their cost of living. This spirals to further increase in the prices of goods.
Is Inflation bad for everyone?
Inflation is perceived differently by everyone depending upon the kind of assets they possess. For someone with investments in real estate or stocked commodity, inflation means that the prices of their assets are set for a hike. For those who possess cash, they may be adversely affected by inflation as the value of their cash erodes.