Daily Current Affairs Quiz: September 7 , 2023

Q1. Consider the following statements:

1. Article 1 of the Indian constitution mentions the term Bharat and Indiaboth.
2. The territory of India shall comprise the territories of the States and the Union territories specified in the First Schedule only.

Which of the statements given above is/are correct?
(a) Only 1
(b) Only 2
(c) Both 1 and 2
(d) Neither 1 nor 2

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Solution: Option A.)

Ans. 1 Option A is the correct Explanation
Article 1: Name and territory of the Union
• India, that is Bharat, shall be a Union of states. Hence statement 1 is correct.
• The States and the territories thereof shall be as specified in the First Schedule.
• The territory of India shall comprise -the territories of the States, the Union territories specified in the First Schedule; and such other territories as may be acquired. Hence statement 2 is incorrect.

Q2. With reference to the ‘Trans-Pacific Partnership’, consider the following statements

1. It is an agreement among all the Pacific Rim countries except China and Russia.
2. It is a strategic alliance for the purpose of maritime security only.

Which of the statements given above is/are correct?
(a) Only 1
(b) Only 2
(c) Both 1 and 2
(d) Neither 1 nor 2

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Solution: option D.)

Ans. 2 Option D is the correct Explanation
• The Trans-Pacific Partnership (TPP), also called the Trans-Pacific Partnership Agreement, was a proposed trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United States signed on 4 February 2016 in Auckland. Hence statement 2 is incorrect.
• The founding members of the Pacific Rim The group are – Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru,
Singapore, the United States, and Vietnam. The 12 nations account for some 40% of the world’s economy. Hence statement t 1 is incorrect.

Q3. Consider the following statements with Reference to G20 Summit 2023:

1. The theme of the summit is ‘Vasudhaiva Kutumbakam’ or ‘OneEarth-One Family-One Future’.
2. The theme of the summit spotlights Life (Lifestyle for Environment), with its associated, environmentally sustainable and responsible choices.
3. During India’s Presidency, Indonesiauld formed and Brazil along with India the G20 Troika.

How many of the statements given above is/are correct?
(a) Only one
(b) Only two
(c) All three
(d) None

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Solution: option C.)

Ans. 3 Option C is the correct Explanation
• India’s G20 logo juxtaposes planet Earth with the lotus, India’s national flower, and the theme is ‘Vasudhaiva Kutumbakam’ or ‘One Earth-One Family-One Future’ Hence statement 1 is correct
• The G20 Logo draws inspiration from the vibrant colors of India’s national flag – saffron, white green, and blue.
• The theme also spotlights LiFE (Lifestyle for Environment), with its associated, environmentally sustainable and responsible choices. Hence statement 2 is correct
• During the course of its G20 Presidency, India will host about 200 meetings in 32 different sectors in multiple locations across India.
• The G20 Leaders’ Summit at the level of Heads of State/Government is scheduled to be held on September 9 and 10, 2023 in New
Delhi.
• During India’s Presidency, Indonesia and Brazil along with India would form the G20 Troika. Hence statement 3 is correct
• This would be the first time when the Troika would consist of three developing countries and emerging economies.

Q4. Consider the following statements about the Association of Southeast Asian Nations (ASEAN):

1. It was established in August 1967 in Bangkok, Thailand with the signing of the ASEAN Declaration (Bangkok Declaration).
2. It was formed to promote economic, political, and security cooperation.

Which one of the following statements is correct?
(a) Statement I is correct but Statement II is incorrect
(b) Statement I is incorrect but Statement II is correct
(c) Both Statement I and Statement II are correct and Statement II is the correct explanation for Statement I
(d) Both Statement I and Statement II are

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Solution: Option C.)

Ans.4 Option C is correct Explanation Association of Southeast Asian Nations (ASEAN)
• It is a regional grouping that promotes economic, political, and security cooperation. Hence, statement 2 is correct.
• It was established in August 1967 in Bangkok, Thailand with the signing of the ASEAN Declaration (Bangkok Declaration). Hence, statement 1 is correct.
• The founding fathers of ASEAN are Indonesia, Malaysia, Philippines, Singapore and Thailand.
• Its chairmanship rotates annually, based on the alphabetical order of the English names of Member States.
• ASEAN countries have a total population of 650 million people and a combined Gross Domestic Product (GDP) of USD 2.8 trillion.
• ASEAN brings together ten Southeast Asian states – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines,
Singapore, Thailand, and Vietnam – into one organization.

Q5. With reference to Article 21, consider the following statements:

1. The term“Due Process of Law” is mentioned in the Constitution.
2. Under this principle, the government follows fair and just procedures before depriving an individual of life, liberty, or property.

Which of the statements given above is/are correct?
(a) Only 1
(b) Only 2
(c) Both 1 and 2
(d) Neither 1 nor 2

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Solution: Option B.)

Ans. 5 Option B is correct Explanation
• The concept has been enshrined in Article 21 of the In
established by law.” Hence, Statement 1 is incorrect
• “Due Process of Law” is a legal principle commonly found in legal systems based on the common law tradition, particularly in countries like the United States.
• Under this principle, the government must follow fair and just procedures before depriving an individual of life, liberty, or property.
• Hence, statement 2 is correct.
• Due process ensures that individuals have the right to be heard, to present evidence, and to be treated fairly before any
government action is taken against them.

Q6. Consider the following statements with reference to By-polls

1. The Constitution of India explicitly the procedure for conducting byelections.
2. They are typically held when a legislative seat becomes vacant before
the regular election cycle.
3. In India, byelections are held only for Lok Sabha seats.

How many of the statements given above/are correct?
(a) Only one
(b) Only two
(c) All three
(d) None

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Solution: Option A.)

Ans. 6 Option A is the correct Explanation
• Bye-elections refer to elections held to fill vacant seats in the legislative bodies of India.
• Purpose: To ensure the timely filing of vacant seats, enabling the representation of the affected constituency or district in the legislative body. Hence, statement 2 is correct.
• Occurrence: When a seat in the legislature becomes vacant due to reasons such as Death, Resignation, Disqualification, and Expulsion of a sitting member
• The byelections are held for both Lok Sabha and State Assembly seats. Hence, statement 3 is incorrect.
• Section 151A of the Representation of the People Act, 1951 mandates the Election Commission to fill the casual vacancies through bye-elections within six months from the date of occurrence of the vacancy. Hence, statement 1 is incorrect.
• Provided that the remainder of the term of a member in relation to a vacancy is one year or more.

Q7. Which of the following statements best defines a tax haven?

(a) A country that imposes high taxes on its citizens and foreign businesses.
(b) A nation that enforces strict tax regulations to prevent tax evasion.
(c) A nation that offers favorable tax rates and financial secrecy to attract foreign investors.
(d) A country that cooperates fully with international tax authorities to combat tax fraud.

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Solution: Option C.)

Ans. 7 Option C is correct Explanation
• A tax haven is typically a jurisdiction or country that provides favorable tax rates, exemptions, or financial secrecy laws. Hence, Option C is correct.
• This is done to attract foreign individuals and businesses seeking to minimize their tax liabilities.

Q8. Consider the following statements on the Purchasing Managers Index
1. It aims to provide information about current and future business conditions to company decision-makers, analysts, and investors.
2. It is calculated separately for the manufacturing and services sectors and then a composite index is constructed.
3. It is an annual survey compiled by IHS Markit.

How many of the statements given above is/are correct?
(a) Only one
(b) Only two
(c) All three
(d) None

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Solution: Option B.)

Ans. 8 Option B is correct Explanation
• Purchasing Managers Index is a survey- measure that asks the respondents about changes in their perception of key business variables as compared with the previous month.
• Purpose: To provide information about current and future business conditions to company decision-makers, analysts, and investors. Hence, statement 1 is correct.
• It is calculated separately for the manufacturing and services sectors and then a composite index is also constructed. Hence, statement 2 is correct.
• The PMI is a number from 0 to 100.
• A print above 50 means expansion, while a score below that denotes contraction.
• A reading of 50 indicates no change.
• It is usually released at the start of every month and is compiled by IHS Markit for more than 40 economies worldwide. Hence, statement 3 is incorrect.

Q9. Consider the following statements regarding simultaneous elections in India.

1. It refers to the conduct of Lok Sabha and state legislative assembly elections at the same time.
2. It can help in reducing the impact of policy paralysis due to frequent elections.
3. The Constitution of India mandates simultaneous elections at the national and state levels.

How many of the statements given above is/are not correct?
(a) Only one
(b) Only two
(c) All three
(d) None

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Solution: option A.)

Ans. 9 Option A is the correct Explanation
• Simultaneous elections refer to the conduct of Lok Sabha and state legislative assembly elections at the same time. Hence, statement 1 is correct.
• The Constitution of India, however, does not mandate simultaneous elections at the national and state levels. Hence, statement
3 is incorrect.
• It is a matter of policy and requires legal and political consensus.
• One of the arguments in favor of simultaneous elections is to reduce the overall cost of conducting elections by holding them together.
• Another argument in favor of simultaneous elections is that it can help in reducing the impact of policy paralysis due to frequent elections. Hence, statement 2 is correct.
• One of the challenges in implementing Simultaneous elections is the synchronization of the electoral cycles of all states.

Q10. Consider the following statements regarding the Startup20 Engagement Group

1 It will be established under India’s G20 presidency for the first time.
2. It recognizes the role of startups in driving innovation that responds to a rapidly changing global scenario.

Which of the statements given above is/are correct?
(a) Only 1
(b) Only 2
(c) Both 1 and 2
(d) Neither 1 nor 2

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Solution: option C.)

Ans. 10 Option C is correct Explanation
• The Startup20 Engagement Group will be established under India’s G20 presidency for the first time. Hence, statement 1 is correct.
• It recognizes the role of startups in driving innovation that responds to a rapidly changing global scenario. Hence, statement
2 is correct

Careerbywell Team