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Correct Answer : Arvind Panagariya
* The government on Sunday (31st Dec 2023) appointed former Niti Aayog vice chairman Arvind Panagariya as the Chairman of the 16th Finance Commission.* Joint Secretary in the finance ministry Ritvik Ranjanam Pandey will be the secretary to the commission, the government said in a notification.* "The President is pleased to constitute a Finance Commission with Dr Arvind Panagariya, former Vice-Chairman, NITI Aayog and Professor, Columbia University, as the Chairman. Members of the Commission will be notified separately," it said.* The commission will submit its report for the five-year period (2026-27 to 2030-31) to the President by October 31, 2025.
* The Union Cabinet, chaired by Prime Minister Narendra Modi, last month approved the Terms of Reference (ToR) of the 16th Finance Commission.* Besides suggesting tax devolution between the Centre and states and revenue augmentation measures, the commission would review the present arrangements for financing disaster management initiatives with reference to the funds constituted under the Disaster Management Act, 2005.* The Finance Commission is a constitutional body that gives suggestions on centre-state financial relations.* The erstwhile 15th Finance Commission under NK Singh had recommended that states be given 41 per cent of the divisible tax pool of the Centre during the five-year period 2021 22 to 2025 26, which is at the same level as was recommended by the 14th Finance Commission..Source : India Today
Correct Answer : Option (C) - Puducherry
* Puducherry led the nation with 53.03% women electors in the 2024 Lok Sabha Elections, making it the state/UT with the highest percentage of women electors. * This significant milestone highlights the territory's efforts towards promoting inclusivity and gender equality in the electoral process. * The achievement is particularly notable, considering the overall increase in female electors and their participation in the elections.
Correct Answer : Option (D) - South Korea
* South Korea's parliament impeached Acting President Han Duck-soo on December 27, 2024, amid growing dissatisfaction over his refusal to appoint three judges to the Constitutional Court. * This event followed the impeachment of President Yoon Suk Yeol on December 14, 2024, after he briefly imposed martial law. * The impeachment of Han marked a historic moment as it was the first time an acting president in South Korea was impeached. * The political crisis significantly impacted the country, contributing to economic instability, with the Korean won reaching its lowest value in nearly 16 years.
Correct Answer : Option (B) - Sikkim
* The Kagyed Dance Festival is a major Buddhist celebration in Sikkim, held annually at Tsuklakhang Palace in Gangtok. * Featuring traditional Cham dances performed by masked monks, the festival symbolizes the destruction of evil forces and the welcoming of peace and prosperity. * Rooted in Tibetan Buddhism, it attracts locals and tourists alike, showcasing Sikkim's rich cultural and spiritual heritage.
