1. Consider the following statements:
1. With increased competition, producers will have a high incentive to innovate and specialize.
2. Competition Commission of India is a constitutional body.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Explanation:
Statement 1 is correct: Competition is the best means of ensuring that the ‘Common Man’ or ‘Aam Aadmi’ has access to the broadest range of goods and services at the most competitive prices. With increased competition, producers will have maximum incentive to innovate and specialize. This would result in reduced costs and wider choice to consumers. A fair competition in the market is essential to achieve this objective. Our goal is to create and sustain fair competition in the economy that will provide a ‘level playing field’ to the producers and make the markets work for the welfare of the consumers.

The Competition Act, 2002, as amended by the Competition (Amendment) Act, 2007, follows the philosophy of modern competition laws. The Act prohibits anti-competitive agreements, abuse of dominant position by enterprises and regulates combinations (acquisition, acquiring of control and M&A), which causes or likely to cause an appreciable adverse effect on competition within India.

Statement 2 is incorrect: The objectives of the Act are sought to be achieved through the Competition Commission of India (Statutory body), which has been established by the Central Government with effect from 14th October 2003. CCI consists of a Chairperson and 6 Members appointed by the Central Government.

Source:
https://www.thehindu.com/news/cities/bangalore/cci-enquiry-against-amazon-flipkart-cannot-be-crushed-at-initial-stage-karnataka-hc/article35482496.ece
https://www.cci.gov.in/about-cci


2. Consider the following statements with reference to National Green Tribunal:
1. The Tribunal shall have the jurisdiction over all civil cases.
2. It has the power to provide relief and compensation to the victims of pollution.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Explanation:
Statement 2 is correct: The Tribunal may, by an order, provide relief and compensation to the victims of pollution and other environmental damage arising under the enactments specified in the Schedule I (including accident occurring while handling any hazardous substance).

Statement 1 is incorrect: The Tribunal shall have the jurisdiction over all civil cases where a substantial question relating to the environment (including enforcement of any legal right relating to the environment), is involved.

Source:
https://www.thehindu.com/news/cities/Delhi/sc-dismisses-plea-against-ngt-ban-on-firecrackers-in-delhi/article35497384.ece
https://greentribunal.in/about-us.php


3. Which of the following is/are examples of Revenue Expenditure?
1. Payment of salaries
2. Subsidies
3. Building of roads
Select the correct statement using the code given below:
(a) 1 only
(b) 1 and 3 only
(c) 1 and 2 only
(d) 1, 2 and 3

Explanation:Option (c) is correct
Revenue Expenditure is that part of government expenditure that does not result in the creation of assets. Payment of salaries, wages, pensions, subsidies and interest fall in this category as revenue expenditure examples. Also, note that revenue expenses are incurred by the government for its operational needs.

Source:
https://www.thehindu.com/news/national/nscs-budget-allocation-increased-10-times-in-2017-18-says-prashant-bhushan/article35488068.ece#:~:text=Shiv%20Kumar%20Pushpakar-,Actual%20spending%20jumped%2013%20times%20to%20%E2%82%B9812%20crore%20in,lawyer%20Prashant%20Bhushan%20on%20Friday.
https://www.financialexpress.com/what-is/revenue-expenditure-meaning/1620283/



4. Which of the following is/are correct about the National Investigation Agency (NIA)?
1. It is functioning as the Central Counter Terrorism Law Enforcement Agency in the country.
2. It is a non-statutory body formed by executive order.
Select the correct answer using the code given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Explanation:
Statement 1 is correct: National Investigation Agency (NIA) is functioning as the Central Counter Terrorism Law Enforcement Agency in the country. Information is given about the NIA's mission, objectives, banned organisations, NIA special courts, nodal officers and branch offices etc. A list of wanted by NIA is also provided. Helpline numbers and contact details of officers are available. Users can also access the case details under the Agency.

Statement 2 is incorrect: The NIA Act was enacted on 31-12-08 and the National Investigation Agency (NIA) was born.

Source:
https://www.india.gov.in/official-website-national-investigation-agency
https://www.thehindu.com/news/national/other-states/nia-maharashtra-dont-want-report-on-stan-swamys-death-given-to-hc/article35483297.ece



5. Which of the following are among the Basic structures of Indian Constitution?
1. Democracy
2. Free Election
3. Federalism

Select the correct statement using the code given  below:
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3

Explanation:Option (d) is correct
Democracy and free elections (Federalism and some more) were a part of the Basic Structure of the Constitution. An election is a mechanism which ultimately represents the will of the people. The essence of the electoral system should be to ensure freedom of voters to exercise their free choice.

Source:
https://www.thehindu.com/news/national/sc-says-secrecy-of-vote-a-must-in-any-election/article35495084.ece