Current Affairs Quiz 16 October 2023

Solution: a)
Justification: Foreign exchange reserves in the late 1980s declined to a level that was not adequate to finance imports for more than two weeks. There was also not sufficient foreign exchange to pay the interest that needs to be paid to international lenders. Therefore, a BoP crisis was looming to avert which India resorted to the help of WB and IMF.
Other objectives of the policy were to tackle high inflation, mismanagement of the economy, revive growth prospects etc. However, the most appropriate reason is to avert a BoP crisis.
The NEP aimed towards creating a more competitive environment in the economy and removing the barriers to entry and growth of firms. It can broadly be classified into two groups: the stabilization measures and the structural reform measures.

Ans: (b)

Answer: C

About Inter-Parliamentary Union (IPU):
• The IPU is a global organization representing Parliaments worldwide.
• It was founded in 1889 in Paris with the goals of promoting representative democracy and global peace.
• The IPU plays a pivotal role in parliamentary diplomacy, empowering Parliaments and parliamentarians to advocate for peace, democracy, and sustainable development on a global scale.
• It was the world’s first multilateral political organization, fostering cooperation and dialogue among all nations.
• Slogan: “For democracy. For everyone.”
• Presently, the IPU comprises 179 member parliaments and 13 associate members.
• It works to enhance democracy, promote stronger, more diverse, gender-balanced parliaments, and defend the human rights of parliamentarians through a dedicated committee consisting of MPs from across the globe.
• The IPU moved its headquarters to Geneva in 1921.
• Funding: The IPU is primarily funded by its members using public funds.

Structure:
IPU Assembly:
• The primary statutory body representing the IPU’s views on political matters.
• Gathers parliamentarians to address international issues and make recommendations for action.

Governing Council:
• The principal policymaking body of the IPU.
• Comprised of three representatives from each member parliament.
• The IPU President also serves as the Council’s President.
• Responsible for establishing the IPU’s annual program and budget.
• Occasionally addresses substantive issues and adopts thematic resolutions and policy statements.
• Oversees various committees and working groups reporting to the Council.

Executive Committees:
• A 17-member body that administers the IPU and advises the Governing Council.
• Of these members, 15 are elected by the Council for a four-year term.
• The IPU President is an ex officio member and serves as the Committee’s President.

Standing Committees:
• Three Standing Committees established by the IPU Governing Council to support the Assembly’s work.

Meeting of Women Parliamentarians:
• A distinct body within the IPU that convenes during the first round of Statutory Meetings.
• Reports its work to the Governing Council and includes both male and female parliamentarians.
• Focuses on one to two substantive debate topics related to the Assembly’s competence.

Answer: A

Ans: (d)