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Correct answer is IIT - Madras.

Key Points

• National Intellectual Property Awards for 2021 and 2022 
• IIT Madras has been conferred the ‘National Intellectual Property Awards 2021 and 2022’ by the Government of India for being the top Indian Academic Institution for patents filing, grants and commercialisation.
• The award is given the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India. The main criteria of evaluation for these awards are Patent Applications, Grants and Commercialization.
• Shri. Piyush Goyal, Union Minister of Commerce and Industry, presented the award to Prof. V. Kamakoti, Director, IIT Madras, at a function held in New Delhi on 15^th October 2022. The award included a trophy, citation and a cash prize of Rs. 1 lakh.
• ​These awards are conferred annually to recognize and reward the top achievers comprising individuals, institutions, organizations and enterprises**, for their Intellectual Property (IP) creations and commercialisation,** which have contributed towards strengthening the IP ecosystem in the country and in encouraging creativity and innovation.

The correct answer is 1983.

Key Points 

• The sarkaria commission was set up in the year 1983 by the government of India.
• The objective of the commission was to examine the center-state relation.
• The chairman of the commission was Ranjit Singh Sarkaria.
• He has earlier served as the judge of the Supreme court of India.
• The other members of the commission were -

1. Shri B.Sivaram ( Cabinet secretary )
2. Dr. S.R Sen ( Former executive director of IBRD )
3. Rama Subramaniam ( member secretary )

• The final report of the commission consisted of 247 recommendations.
• The recommendations were not accepted by the government.

The correct answer is Vijaynagar

Key Points

• The Vijayanagar Empire was founded in 1336 by Harihar I and his brother Bukka Raya I in Deccan in the wake of the rebellions against Tughluq rule.
• The Vijayanagara Empire was ruled by 4 dynasties:
• Sangama Dynasty
• Saluva Dynasty
• Tuluva Dynasty
• Aravidu Dynasty
• Bukka Raya defeated almost all the southern kingdoms and extended his empire till present day Rameshwaram.
• The Vijayanagara Empire would rule till 1646 with Sriranga III as its final ruler.
• The ruins of The Vijayanagar Empire which surround modern World Heritage site Hampi can be found in Karnataka, India.

Additional Information

• The Indus Valley Civilization was spread from present-day North-East Afghanistan to Pakistan and North-West India.
• The civilization flourished in the river basins of the Ghaggar-Hakra river and the Indus.
• Indus valley civilization is one of the four oldest civilizations in the world.
• It is also known as Harappan Civilization and is well-known for its organized planning based on the grid system.
• There are eight important cities in the Indus valley civilization:
• Mohanjodaro
• Harappa
• Kalibangan
• Lothal
• Chanhudaru
• Dholavira
• Banawali
• Suktagendor

The correct answer is John Maynard Keynes.

Key Points

• John Maynard Keynes is known as the founding father of Macroeconomics as a separate discipline.
• He was born on June 5, 1883, in Cambridge.
• He completed his degree in Mathematics and had also joined Civil Services in Britain.
• He represented the British Treasury at the Conference of Versailles but resigned because he was against the heavy fine levied on Germany.
• He expressed his concerns about the fine imposed on Germany in his book 'The Economic Consequences of Peace'.

Additional Information

• Robert Merton
• Robert K. Merton was an American sociologist who coined the term role set in 1957 .
• He provided a role set definition in sociology as a person's way of acting out their social status in the world.
• A role set describes various roles and relationships as a consequence of a person's societal status.
• For Example: A male playing the role of father in family is a daily wage earner outside, thus playing multiple roles.
• Adam Smith
• He was a well-known philosopher and economist of Scotland.
• Adam Smith is considered the father of Modern Economics.
• In his book “The nature & causes of the wealth of the Nation’s 1776, he has described economics as the science of wealth.
• According to him, the economy is the study of wealth only and it deals with its production and consumption.
• Only material goods which are scarce and useful are wealth.
• He gave his views in detail on the profitable trend of economics.
• In 1759, his first book 'The Theory of Moral Sentiment' was published.
• He is known as Father of Economics or Father of Capitalism. Hence, Option 3 is correct.
• Classical free-market economic theory foundation was laid by him.
• His two famous works are the theory of moral sentiments in 1759 and an inquiry into the nature and causes of the wealth of nations in 1776.

correct answer is All members of the Legislative Councils of the States

Key Points

• The President of India is indirectly elected through an electoral college comprising of elected members of
• The Lok Sabha(House of the People)
• The Rajya Sabha(Council of States)
• The Legislative Assemblies of the Indian states and union territories of Pondicherry and Delhi.
• The number of votes is calculated based on the population in 1971 instead of the current population.
• This rule was made by the 42^nd amendment of the constitution and was further extended by the 84^th amendment.
• The intention to not change this number is to encourage family planning programs in the Indian states and to ensure that the states do not have to compromise as a result of lowering their population growth.
• The electoral college for the election of President of India comprises the elected members of Lok Sabha and Rajya Sabha, elected members of each State's legislative assembly, and each union territory that has a Legislative Assembly like Delhi and Pondicherry.

Correct answer is 18 to 28 years.

Key Points

• Hunar Se Rozgar Tak Scheme  
• The Ministry of Tourism launched a special initiative called Hunar Se Rozgar Tak (HSRT) in the year 2009-10 for creation of employable skills amongst youth.
• The initiative is fully funded by the Ministry of Tourism.
• The features common to the training programmes under the HSRT are: the trainees should be in the age group of 18-28 years; each training programme is of short duration – 6 to 8 weeks; and no fees chargeable to the trainee

The correct answer is Lionel Messi.

Key Points 

• According to the Forbes 2022 Highest-Paid Athletes List, Lionel Messi is the highest-paid athlete in 2022.
• Lionel Messi is a football player from Argentina who plays for the French club Paris Saint-Germain.
• His estimated earnings are $130 million.

Additional Information

• Roger Federer
• Roger Federer is a Swiss professional tennis player.
• He is ranked No. 7 in the world by the Association of Tennis Professionals (ATP).
• He has won 20 Grand Slam men's singles titles, record shared with Novak Djokovic.
• Federer has been world No. 1 in the ATP rankings a total of 310 weeks – including a record 237 consecutive weeks – and has finished as the year-end No. 1 five times$.

correct answer is RBI

Key Points

• RBI is known as the 'Central Bank of India' whose primary function to regulate the issue of Banknotes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country.
• RBI is also known as 'Apex Bank of India'.
• RBI is also known as 'Banker's Bank'.

​

Important Points 

• RBI  was set up on the recommendation of the Hilton Young Commission also called the Royal Commission in 1926.
• RBI Act was passed in the year - 1934
• RBI was established on 1^st April 1935.
• RBI was nationalized on 1^st January 1949.
• RBI issues all currency notes except one rupee.
• The signature of the RBI Governor on the notes is in English and Hindi.
• The currency notes except one rupee hold the signature of the RBI Governor.
• One rupee holds the signature of the Finance Secretary.

Additional Information 

• The first Governor of RBI -  Sir Osborne Smith
• The first Indian Governor of RBI - C. D. Deshmukh
• The longest-serving RBI Governor - Benegal Rama Rao
• The Indian Prime Minister who had served as RBI Governor - Dr. Manmohan Singh
• Present and 26h Governor of RBI - Sanjay Malhotra
• Deputy Governors of RBI - B. P. Kanungo, S. M. K Jain, M. D. Patra, and M. R. Rao.
• Headquarter - Mumbai

The correct answer is Deficit in trade balance and fiscal deficit.

Key Points 

• The twin deficit, or double deficit, occurs when a nation has both a  Deficit in trade balance and a fiscal deficit.
• This means the country's economy is importing more than it is exporting, and the country's government is spending more money than it is generating.
• Fiscal Deficit - 
• ​The fiscal deficit is the difference between the government's total expenditure and its total receipts.
• As per the technical definition - Fiscal deficit = Budgetary Deficit + Borrowings and other liabilities of the government.
• Current Account Deficit -
• The current account measures the flow of goods, services, and investment into and out of the country.
• There is a deficit in the current account if the value of goods and services imported exceeds the value of those exported.

The correct answer is Corporate Tax.

Key Points 

• Corporate tax is the single largest source of income to the government of India.
• According to the Budget for 2019-20 presented in Parliament by Finance Minister Nirmala Sitharaman, Goods and Services Tax collections will contribute 19 paise in every rupee revenue.
• Corporation tax is the single largest source of income, contributing 21 paise to each rupee earned.

Important Points 

• Taxes are generally an involuntary fee levied on individuals and corporations by the government to finance government activities.
• There are two types of Taxes in India- Direct Tax and Indirect Tax.
• Direct Tax
• The tax that is levied by the government directly on the individuals or corporations is called Direct Taxes.
• Income Tax, Corporation/Municipal Tax and Wealth Tax are some of the examples of Direct Tax.
• They are progressive in nature.
• Indirect Tax
• The tax that is levied by the government on one entity (Manufacturer of goods), but is passed on to the final customer by the manufacturer.
• VAT, Service tax, GST, Excise duty, entertainment tax and Customs Duty are some of the examples of Indirect Tax.
• They are regressive in nature.