Daily Quiz

Solution (c)
Explanation:
• The Munda tribe was involved in the Munda Rebellion (also known as the Ulgulan Rebellion) of 1899-1900, led by Birsa Munda. This rebellion took place in present-day Jharkhand and was directed against British exploitation, oppression by landlords (dikus), and forced labor.
• The Koya Rebellion, also known as the Rampa Rebellion (1879-1880), was led by Alluri Sitarama Raju in the Godavari district of Andhra Pradesh. The rebellion was against British rule, focusing on the exploitation of tribal people and oppressive land revenue policies.
• The Hul Rebellion, or Santhal Rebellion, occurred in 1855-1856 and was led by Sidhu and Kanhu Murmu of the Santhal tribe. It took place in the Santhal Parganas region (now in Jharkhand) and was a major uprising against British colonial authorities and zamindars (landlords) due to exploitation, forced land acquisition, and unfair revenue policies.
• The Gond tribe participated in the Gond Rebellion of 1817-1819 in the central regions of India, particularly in the areas now part of Madhya Pradesh. The rebellion was against British policies, including land revenue extraction and interference in the tribal way of life. Another significant event was the uprising led by Raja Bhim Singh against the British in the early 19th century. (Option (c) is correct)

Source: https://www.thehindu.com/news/national/jharkhand/politics-before-people/article68603863.ece

Solution (d)

Explanation:

• The Reserve Bank of India (RBI) is India’s central bank and is responsible for monetary policy, banking regulation, and managing foreign exchange. It conducts surveys such as the Consumer Confidence Survey and the Inflation Expectations Survey. (Option (a) is incorrect)
• The Ministry of Finance deals with the economic policies of the government, taxation, government expenditure, and financial regulation. It oversees important reports like the Union Budget and Economic Survey. (Option (b) is incorrect)
• NABARD is primarily focused on rural development, including agricultural finance and rural infrastructure. It conducts important surveys related to agriculture and rural development, such as the All India Rural Financial Inclusion Survey (NAFIS). (Option (c) is incorrect)
• The Household Consumption Expenditure Survey (HCES) is conducted by the National Sample Survey Office (NSSO) under MoSPI. This survey provides critical data on household consumption patterns in India and has been conducted since 1950. (Option (d) is correct)
• The HCES is a vital tool for understanding the expenditure habits of households across rural and urban India, helping policymakers track poverty levels, consumption trends, and economic well-being. The latest survey, conducted from August 2022 to July 2023, provides valuable data for state and national levels.

Source: https://www.thehindu.com/opinion/lead/the-food-security-act-has-revamped-the-pds/article68610659.ece

Solution (b)

Explanation:

• NALCO is one of the three government enterprises involved in the KABIL joint venture. NALCO holds a 40% stake in the venture and plays a key role in ensuring the supply of critical minerals to India.
• BALCO is not a part of the KABIL joint venture. It is a private company under Vedanta Group and was partially divested by the Government of India. BALCO is primarily focused on the production of aluminium, and while related to the metals and minerals sector, it is not part of KABIL. (Option (b) is correct)
• HCL holds a 30% stake in the KABIL joint venture. HCL is a key player in copper production in India and is one of the founding partners in KABIL to secure critical mineral supplies.
• MECL holds a 30% stake in KABIL. It is a government enterprise under the Ministry of Mines, specializing in mineral exploration, and is part of the joint venture to ensure mineral security for India.

Source: https://www.thehindu.com/opinion/op-ed/africa-can-make-indias-critical-mineral-mission-shine/article68610753.ece#:~:text=India%20will%20have%20to%20collaborate,world's%20known%20critical%20mineral%20reserves&text=In%20the%20Union%20Budget%202024,of%20a%20Critical%20Mineral%20Mission. & https://kabilindia.in/about-us/kabil-company-profile

Solution (b)

Explanation:

• Vertical Fiscal Imbalance (VFI) occurs when States have higher expenditure responsibilities compared to their ability to raise revenue. In India, this imbalance is seen where States collect only about 38% of the revenue receipts but incur 61% of the revenue expenditure, relying on transfers from the Union government to meet the shortfall. (Statement 1 is correct)
• The Finance Commission recommends untied transfers, specifically through the devolution of taxes from net proceeds, to address VFI. Tied transfers, which come with conditions, are provided through centrally sponsored schemes and are not the main tool to address VFI. (Statement 2 is incorrect)
• Increasing the share of tax devolution from the net proceeds of the Union’s gross tax revenue is one way to reduce VFI, as it provides more untied funds to States, allowing them to better meet their expenditure needs. (Statement 3 is correct)

Source: https://www.thehindu.com/business/Economy/what-is-vertical-fiscal-imbalance/article68611117.ece

Solution (d)

Explanation:

• The Loss and Damage Fund (LDF) was established during COP27 in Egypt in 2022 under the UNFCCC framework. This fund was set up to provide financial support to regions affected by climate-induced damages, addressing both immediate disasters and long-term climate-related processes. (Statement 1 is correct)
• The LDF aims to provide financial aid for both economic (e.g., infrastructure damage) and non-economic losses (e.g., cultural and environmental loss) caused by climate change. These include extreme events like storms as well as slow-onset events such as sea level rise. (Statement 2 is correct)
• The LDF is managed by a Governing Board, which oversees the disbursement of the fund’s resources. The Board is currently working on mechanisms like direct access and small grants to make the funds accessible, with the World Bank serving as the interim trustee. (Statement 3 is correct)
• Despite its creation, accessing the funds remains challenging due to procedural and logistical issues. India, having experienced significant climate-induced damages, has a vested interest in making the fund more accessible at the subnational level, but lacks a streamlined domestic policy framework for loss and damage.

Source: https://www.thehindu.com/sci-tech/energy-and-environment/can-kerala-access-funds-from-the-loss-and-damage-fund-explained/article68611070.ece