Prelims Specific Facts

1)Consider the following statements with respect to ‘Currency Monitoring List’

1. It is a list of countries that are monitored for currency manipulation by the International Monetary Fund
2. A fall in the value of currency by ten or more percentage points over the last fiscal year is one of the criteria to added to the list

Select the correct statement(s)
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2

There are three criteria the US Treasury looks at in placing a country on the watch list:

1. Significant trade surplus with the US (at least $20 billion in 12 months)

2. A large current account surplus (at least 2 per cent of GDP over a 12-month period)

3.“Persistent”, one-sided intervention (when net purchases of foreign currency totalling at least 2 per cent of the country’s GDP over a 12-month period are conducted repeatedly, in at least six out of 12 months). The countries that meet two out of the three criteria are placed on the watch list.

2)In which one of the following groups are all four countries members of East Asia Summit?

 a) Brunei, Malaysia, Thailand and Canada

 b) Australia, Singapore, Mongolia and India

 c) Indonesia, New Zealand, Vietnam and Russia

 d) Philippines, South Korea, Sri Lanka and United States

The members of EAS are Australia, Brunei, Cambodia, China, India, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand, Philippines, Russia, Singapore, South Korea, Thailand, United States, Vietnam

3)Consider the following statements with respect to ‘The Places of Worship Act’

1. It provides for the maintenance of the religious character of all places of worship as it existed on the 15th day of August, 1947
2. The Act applies to any place of worship which is an ancient and historical monument covered by the Ancient Monuments and Archaeological Sites and Remains Act, 1958

Select the correct statement(s)

 a) 1 only

 b) 2 only

 c) Both 1 and 2

 d) Neither 1 nor 2

Prelims Specific News

Bali Map

Bali is in Indonesia. Location for G-20 Summit 2022.

2. Carbon Border Adjustment Mechanism

With effect from 2026, the EU has proposed a policy known as the Carbon Border Adjustment Mechanism to tax goods like cement and steel that have a high carbon content. 

Large coal-dependent developing countries Brazil, India, South Africa, and China, collectively known as BASIC, have long expressed their concerns and reaffirmed their right to use fossil fuels while converting to sustainable energy.

3. Khap Panchayats

Khaps wield considerable influence over society wherever Jats are the dominant caste, and the institution has inv­ited opprobrium for imposing sanctions defending caste orthodoxy from social change.

Khaps are caste or community organisations in villages which at times act as quasi-judicial bodies and pronounce harsh punishments based on regressive and age-old customs and traditions.

The apex Court said that any assembly interfaring in a marriage between two consenting adults in “illegal”.

Generally Khap Panchayat comes under the social institution but they have no legal status, that is these institutions are not sanctioned and governed by the law. The purpose of these Khap Panchayats are generally to regulate the Khap formed under the same gotra or different gotra in the same villages.

4. SVAMITVA Scheme

SVAMITVA, a Central Sector Scheme of Ministry of Panchayati Raj was nation-wide launched by the Hon’ble Prime Minister on National Panchayati Raj Day, 24th April 2021 after successful completion of pilot phase of scheme (2020-2021) in 9 states. Scheme is a reformative step towards establishment of clear ownership of property in rural inhabited (Abadi) areas, by mapping of land parcels using drone technology and providing ‘Record of Rights’ to village household owners with issuance of legal ownership cards (Property cards/Title deeds) to the property owners.

The Scheme is implemented with the collaborative efforts of the Ministry of Panchayati Raj, State Revenue Department, State Panchayati Raj Department and Survey of India.  The scheme covers multifarious aspects viz. facilitating monetisation of properties and enabling bank loan; reducing property related disputes; comprehensive village level planning, would be the stepping-stone towards achieving Gram Swaraj in true sense and making rural India Atmanirbhar.

The scheme seeks to achieve the following objectives: –

1. Creation of accurate land records for rural planning and reduce property related disputes.
2. To bring financial stability to the citizens in rural India by enabling them to use their property as a financial asset for taking loans and other financial benefits.
3. Determination of property tax, which would accrue to the GPs directly in States where it is devolved or else, add to the State exchequer.
4. Creation of survey infrastructure and GIS maps that can be leveraged by any department for their use. 
5. To support in preparation of better-quality Gram Panchayat Development Plan (GPDP) by making use of GIS maps

5. The Suez Canal, an artificial sea-level waterway in Egypt, connecting the Mediterranean Sea to the Red Sea, officially opened on November 17, 1869.