[Mission 2022] QUIZ – 2021: Insights Current Affairs Quiz , 06 April 2022 – INSIGHTSIAS

Solution: d)

P-notes are issued by registered FPIs to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process.

P-note investments in Indian markets – equity, debt, hybrid securities and derivatives.

Solution: c)

The National Pharmaceutical Pricing Authority (NPPA) can use its emergency powers to allow companies to raise the price of drugs.

The pricing regulator cited shortages of the drug in India and rising costs of raw materials imported from China as reasons for increasing the ceiling price using emergency powers under Paragraph 19 of the Drug (Price Control) Order.

The Drugs Prices Control Order is an order issued by the Government of India under Sec. 3 of Essential Commodities Act, 1955 to regulate the prices of drugs.

The Order interalia provides the list of price-controlled drugs, procedures for fixation of prices of drugs, method of implementation of prices fixed by Govt., penalties for contravention of provisions etc.

Are all the drugs marketed in the country under price control? 

No. The National List of Essential Medicines (NLEM) 2011 is adopted as the primary basis for determining essentiality, which constitutes the list of scheduled medicines for the purpose of price control. The DPCO 2013 contains more than 600 scheduled drug formulations spread across 27 therapeutic groups. However, the prices of other drugs can be regulated, if warranted in public interest.

Solution: c)

Extended producer responsibility’ (EPR) puts the financial and/or physical onus on manufacturers–meaning plastic producers, importers and brand-owners–for the treatment, recycling, reuse or disposal of products after a consumer has used and disposed of them.

India first introduced EPR to manage electronic-waste in 2012. It extended EPR to plastic manufacturers after the Plastic Waste Management Rules 2016 (PWMR) were notified in 2016. The PWMR made producers and importers of plastic as well as brand owners that use plastic for packaging accountable for managing the end waste.

Solution: b)

Solution: d)

A “National Small Savings Fund” (NSSF) in the Public Account of India has been established with effect from 1.4.1999.

All small savings collections are credited to this Fund. Similarly, all withdrawals under small savings schemes by the depositors are made out of the accumulations in this Fund. The balance in the Fund is invested in Central and State Government Securities. The investment pattern is as per norms decided from time to time by the Government of India.

The Fund is administered by the Government of India, Ministry of Finance (Department of Economic Affairs) under National Small Savings Fund (Custody and Investment) Rules, 2001, framed by the President under Article 283(1) of the Constitution. The objective of NSSF is to de-link small savings transactions from the Consolidated Fund of India and ensure their operation in a transparent and self-sustaining manner. Since NSSF operates in the public account, its transactions do not impact the fiscal deficit of the Centre directly. As an instrument in the public account, the balances under NSSF are direct liabilities and constitute a part of the outstanding liabilities of the Centre. The NSSF flows affect the cash position of the Central Government.