1)  Identify the correct statements about the groups of nations:

European Union and African Union are members of Group of 20 (G20).

Euro is the common currency of all members of the European Union.

The headquarter of the League of Arab States is Cairo.

Non-aligned movement (NAM) is the largest grouping of states worldwide after the United Nations.

A) 1, 2 & 3 only

B) 3 & 4 only

C) 1, 2 & 4 only

D) 1, 3 & 4 only

 True. The European Union has long been a G20 member, and the African Union was admitted as a permanent G20 member in 2023.

 False. Not all EU members use the euro; several countries (e.g., Sweden, Poland, Hungary, Czechia, Romania, Bulgaria) are in the EU but not in the eurozone.

True. The League of Arab States (Arab League) has its headquarters in Cairo, Egypt (briefly moved to Tunis 1979–1990, then returned).

True. The Non-Aligned Movement (NAM), with around 120 member states, is widely regarded as the largest grouping of states after the UN.

Ans)  D) 1, 3 & 4 only


2)  Identify the correct statements about Finance Commissions in India:

Finance Commissions are constituted periodically under Article 280 of the Constitution.

The Finance Commission consists of the Chairman and seven other members.

The present Finance Commission is the 15th in the series.

Aravind Panagariya is the Chairman of the present Finance Commission.

A) 1 & 2 only

B) 1 & 4 only

C) 2 & 3 only

D) 1, 2, 3 & 4

True. Article 280 of the Indian Constitution provides for the periodic constitution of a Finance Commission by the President, usually every five years. It makes recommendations on the distribution of taxes and grants between the Centre and States.

 True. According to the Finance Commission (Miscellaneous Provisions) Act, 1951, the Commission consists of a Chairman and four other members. The statement says “Chairman and seven other members.”

Composition under Article 280 & the Act: 1 Chairman + 4 members = Total 5.

False — There are 1 Chairman and 4 members, not 7.

 False. The present Finance Commission is the 16th Finance Commission (constituted in 2023; chaired by Arvind Panagariya).

The 15th Finance Commission was chaired by N.K. Singh (2017–2025 recommendations).

 True. Arvind Panagariya is indeed the Chairman of the 16th Finance Commission, appointed in 2023.

Ans)  A) 1 & 2 only