1. Consider the following statements:
- A sovereign wealth fund is a state-owned investment fund composed of money generated by the government, often derived from a country's surplus reserves.
- A bond is a fixed income instrument that represents a loan made by an investor to a borrower.
Which of the above statements is / are correct?
[A] Both 1 and 2
[B] Only 1
[C] Only 2
[D] Neither 1 nor 2
Show Answer
Correct Answer: A [Both 1 and 2]
Notes:
Statement 1 is correct as a sovereign wealth fund is a state-owned investment fund typically funded from a government's surplus reserves. Statement 2 is also correct, since a bond is a fixed income instrument representing a loan by an investor to a borrower. Both terms are accurately defined, unlike the original mismatched definitions.
2. With reference to the First Amendment Act of 1951, consider the following statements:
- It added four more grounds for reasonable restrictions in Article 19.
- It empowered the state to make special provisions for the advancement of socially and economically backward classes.
- It added the Ninth Schedule to protect certain laws from judicial review.
Select the correct answer using the codes given below:
[A] Only 2
[B] Only 1 & 3
[C] Only 2 & 3
[D] 1, 2 & 3
Show Answer
Correct Answer: C [Only 2 & 3]
Notes:
The First Amendment Act of 1951 added three, not four, new grounds for reasonable restrictions in Article 19: public order, friendly relations with foreign states, and incitement to an offence. It empowered the state to make special provisions for socially and economically backward classes and added the Ninth Schedule to protect laws from judicial review.
3. With respect to the Mahatma Gandhi National Rural Employment Guarantee Scheme, consider the following statements:
- It guarantees the right to work.
- It provides employment for skilled and unskilled labour.
- A job seeker has completed 18 years of age at the time of application.
Which of the statements given above is/are correct?
[A] Only 1
[B] Only 2 & 3
[C] Only 1 & 3
[D] 1, 2 & 3
Show Answer
Correct Answer: C [Only 1 & 3]
Notes:- Mahatma Gandhi National Rural Employment Guarantee Scheme was introduced as a social measure that guarantees “the right to work”. The local government will have to legally provide at least 100 days of wage employment for each worker who volunteers for unskilled labour.
- One must be a Citizen of India to seek NREGA benefits. A job seeker has completed 18 years of age at the time of application. The applicant must be part of a local household (i.e. application must be made with a local Gram Panchayat).
![Daily UPSC Prelims Current Affairs – September 11-12, 2022 [Mock Test]](https://i0.wp.com/www.gktoday.in/wp-content/uploads/2022/09/unnamed.png?resize=75%2C42&ssl=1)
![Daily UPSC Prelims Current Affairs – January 14, 2023 [Mock Test]](https://i0.wp.com/www.gktoday.in/wp-content/uploads/2023/01/1-1.png?resize=75%2C50&ssl=1)
![Daily UPSC Prelims Current Affairs – December 13, 2022 [Mock Test]](https://i0.wp.com/www.gktoday.in/wp-content/uploads/2022/11/unnamed-1.png?resize=75%2C42&ssl=1)