Question Discussion & Solution

The correct answer is Contingency Fund.

• Contingency Fund is being used by the Government of India to meet the unforeseen expenses.

Additional Information 

• Consolidated Fund of India:
  • This is the most important of all accounts of the government.
  • This fund is filled by Direct and indirect taxes Loans taken by the Indian government, Returning of loans/interests of loans to the government by anyone/agency that has taken it.
  • The government meets all its expenditure from this fund.
  • The government needs parliamentary approval to withdraw money from this fund.
  • The provision for this fund is given in Article 266 (1) of the Constitution of India.
  • Each state can have its own Consolidated Fund of the state with similar provisions.
  • The Comptroller and Auditor General of India audit these funds and reports to the relevant legislatures on their management.
• Contingency Fund of India:
  • Provision for this fund is made in Article 267 (1) of the Constitution of India.
  • Its corpus is Rs. 500 crores.
  • The Secretary of, Finance Ministry holds this fund on behalf of the President of India.
  • This fund is used to meet unexpected or unforeseen expenditure.
  • Contingency Fund is being used by the Government of India to meet the unforeseen expenses
  • Each state can have its own contingency fund.
• Public Accounts of India:
  • This is constituted under Article 266 (2) of the Constitution.
  • All other public money (other than those covered under the Consolidated Fund of India) received by or on behalf of the Indian Government are credited to this account/fund.
  • This is made up of Bank savings account of the various ministries/departments, National small savings fund, defence fund, National Investment Fund (money earned from disinvestment), National Calamity & Contingency Fund (NCCF) (for Disaster Management), Provident fund, Postal insurance, etc.

The correct answer is 1, 2, 3, 4 and 5.

 Key Points

• The ECA was enacted in 1955.
• The act provides for the control of production, supply, distribution, trade, and commerce in any farm good deemed “essential” and “in the interest of the general public”.
• The list of items under the Act includes drugs, fertilizers, pulses, and edible oils, and petroleum and petroleum products.

 Important Points

• If the Centre finds that a certain commodity is in short supply and its price is spiking, it can notify stock-holding limits on it for a specified period.
• The States act on this notification to specify limits and take steps to ensure that these are adhered to.
• Anybody trading or dealing in a commodity, be it wholesalers, retailers, or even importers are prevented from stockpiling it beyond a certain quantity.

 Additional Information

•  The Essential Commodities (Amendment) Bill, 2020 is aimed at deregulating commodities such as cereals, pulses, oilseeds, edible oils, onion, and potatoes.

The correct answer is All India Services.

Except Option 2, others are Federal features. Hence, statement 2 is correct.

Key Points

Unitary features

• Union of States
• Power to form new States and to change existing boundaries
• Unequal Representation in the Legislature
• Single Constitution
• Single citizenship
• Emergency provisions
• All India Services

Additional Information

 Federal features

• Distribution of Powers
• Supremacy of the Constitution
• Written Constitution
• Rigidity
• Independent Judiciary
• Bicameral Legislature
• Dual Government Polity
• Division of Power

The correct answer is Justice, Liberty, Equality, Fraternity.

• The correct sequence of assurances given in the Preamble of India Constitution is Justice, Liberty, Equality, Fraternity.

Additional Information 

• Preamble Of Indian Constitution
  • WE, THE PEOPLE OF INDIA, having solemnly resolved to constitute India into a SOVEREIGN SOCIALIST SECULAR DEMOCRATIC REPUBLIC and to secure to all its citizens:
  • JUSTICE, social, economic, and political;
  • LIBERTY of thought, expression, belief, faith, and worship;
  • EQUALITY of status and of opportunity;
  • And to promote among them all FRATERNITY assuring the dignity of the individual and the unity and integrity of the Nation;
  • IN OUR CONSTITUENT ASSEMBLY this twenty-sixth day of November 1949, do HEREBY ADOPT, ENACT AND GIVE TO OURSELVES THIS CONSTITUTION.

The correct answer is September 2020.

• Rajya Sabha passed the Major Port Authorities Bill, 2020 on 10 February 2021.
• The Lok Sabha had passed the bill on September 23, 2020.
• The Bill aims to provide for the regulation, operation and planning of Major Ports in India and to vest the administration, control and management of such ports upon the Boards of Major Port Authorities.