India's Domestic and International Affairs Oct 2024 Overview Part 2

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4. Benami Transactions (Prohibition) Amendment Act, 2016
Q7. What does the term “Benamidar” signify under the 2016 Act?
A. The financier of the property
B. The fictitious owner of the property
C. The real owner of the property
D. The government custodian of confiscated property
Answer: B
Explanation: A Benamidar is an individual in whose name a benami property is held, often to obscure the real owner.
Q8. Which constitutional provision was cited against the retrospective application of the Benami Transactions (Prohibition) Act, 2016?
A. Article 14
B. Article 19
C. Article 20(1)
D. Article 21
Answer: C
Explanation: Article 20(1) prohibits retroactive punishment, making the retrospective application of the Act unconstitutional.
5. Weaponisation of Trade
Q9. The Quad nations issued a statement rejecting coercive economic practices. Which of the following countries is NOT part of the Quad?
A. India
B. Australia
C. Japan
D. Germany
Answer: D
Explanation: The Quad comprises India, Australia, Japan, and the United States. Germany is not a member.
Q10. What is "friend-shoring" as highlighted in the document?
A. Building trade alliances with adversarial countries
B. Developing alternative supply chains with allied nations
C. Restricting trade to domestic producers
D. Imposing tariffs on all foreign goods
Answer: B
Explanation: Friend-shoring is the practice of limiting supply chains to politically and economically allied countries to enhance resilience.