1. The Parliament is empowered to make laws on any subject of the State List during





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MCQ-> The painter is now free to paint anything he chooses. There are scarcely any forbidden subjects, and today everybody is prepared o admit that a painting of some fruit can be as important as painting of a hero dying. The Impressionists did as much as anybody to win this previously unheard of freedom for the artist. Yet, by the next generation, painters began to abandon tie subject altogether, and began to paint abstract pictures. Today the majority of pictures painted are abstract.Is there a connection between these two developments? Has art gone abstract because the artist is embarrassed by his freedom? Is it that, because he is free to paint anything, he doesn’t know what to paint? Apologists for abstract art often talk of it as Inc art of maximum freedom. But could this be the freedom of the desert island? It would take too long to answer these questions properly. I believe there is a connection. Many things have encouraged the development of abstract art. Among them has been the artists’ wish to avoid the difficulties of finding subjects when all subjects are equally possible.I raise the matter now because I want to draw attention to the fact that the painter’s choice of a subject is a far more complicated question than it would at first seem. A subject does not start with what is put in front of the easel or with something which the painter happens to remember. A subject starts with the painter deciding he would like to paint such-and-such because for some reason or other he finds it meaningful. A subject begins when the artist selects something for special mention. (What makes it special or meaningful may seem to the artist to be purely visual — its colours or its form.) When the subject has been selected, the function of the painting itself is to communicate and justify the significance of that selection.It is often said today that subject matter is unimportant. But this is only a reaction against the excessively literary and moralistic interpretation of subject matter in the nineteenth century. In truth the subject is literally the beginning and end of a painting. The painting begins with a selection (I will paint this and not everything else in the world); it is finished when that selection is justified (now you can see all that I saw and felt in this and how it is more than merely itself).Thus, for a painting to succeed it is essential that the painter and his public agree about what is significant. The subject may have a personal meaning for the painter or individual spectator; but there must also be the possibility of their agreement on its general meaning. It is at this point that the culture of the society and period in question precedes the artist and his art. Renaissance art would have meant nothing to the Aztecs — and vice versa. If, to some extent, a few intellectuals can appreciate them both today it is because their culture is an historical one: its inspiration is history and therefore it can include within itself, in principle if not in every particular, all known developments to date.When culture is secure and certain of its values, it presents its artists with subjects. The general agreement about what is significant is so well established that the significance of a particular subject accrues and becomes traditional. This is true, for instance, of reeds and water in China, of the nude body in Renaissance, of the animal in Africa. Furthermore in such cultures the artist is unlikely to be a free agent: he will be employed for the sake of particular subjects, and the problem, as we have just described it, will not occur to him.When a culture is in a state of disintegration or transitions the freedom of the artist increases — but the question of subject matter becomes problematic for him: he, himself, has to choose for society. This was at the basis of all the increasing crises in European art during the nineteenth century. It is too often forgotten how any of the art scandals of that time were provoked by the choice of subject (Gericault, Courbet, Daumier, Degas, Lautrec, Van Gogh, etc.).By the end of the nineteenth century there were, roughly speaking, two ways in which the painter could meet this challenge of deciding what to paint and so choosing for society. Either he identified himself with the people and so allowed their lives to dictate his subjects to him or he had to find his subjects within himself as painter. By people I mean everybody except the, bourgeoisie. Many painters did of course work for the bourgeoisie according to their copy-book of approved subjects, but all of them, filling the Salon and the Royal Academy year after year, are now forgotten, buried under the hypocrisy of those they served so sincerely.When a culture is insecure, the painter chooses his subject on the basis of:
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MCQ-> Analyse the following passage and provide appropriate answers for the questions that follow: Each piece, or part, of the whole of nature is always merely an approximation to the complete truth, or the complete truth so far as we know it. In fact, everything we know is only some kind of approximation, because we know that we do not know all the laws as yet. Therefore, things must be learned only to be unlearned again or, more likely, to be corrected. The principal of science, the definition, almost, is the following: The test of all knowledge is experiment. Experiment is the sole judge of scientific “truth.” But what is the source of knowledge? Where do the laws that are to be tested come from? Experiment, itself, helps to produce these laws, in the sense that it gives us hints. But also needed is imagination to create from these laws, in the sense that it gives us hints. But also needed is imagination to create from these hints the great generalizations – to guess at the wonderful, simple, but very strange patterns beneath them all, and then to experiment to check again whether we have made the right guess. This imagining process is so difficult that there is a division of labour in physics: there are theoretical physicists who imagine, deduce, and guess at new laws, but do not experiment; and then there are experimental physicists who experiment, imagine, deduce, and guess. We said that the laws of nature are approximate: that we first find the “wrong” ones, and then we find the “right” ones. Now, how can an experiment be “wrong”? First, in a trivial way: the apparatus can be faulty and you did not notice. But these things are easily fixed and checked back and forth. So without snatching at such minor things, how can the results of an experiment be wrong? Only by being inaccurate. For example, the mass of an object never seems to change; a spinning top has the same weight as a still one. So a “law” was invented: mass is constant, independent of speed. That “law” is now found to be incorrect. Mass is found is to increase with velocity, but appreciable increase requires velocities near that of light. A true law is: if an object moves with a speed of less than one hundred miles a second the mass is constant to within one part in a million. In some such approximate form this is a correct law. So in practice one might think that the new law makes no significant difference. Well, yes and no. For ordinary speeds we can certainly forget it and use the simple constant mass law as a good approximation. But for high speeds we are wrong, and the higher the speed, the wrong we are. Finally, and most interesting, philosophically we are completely wrong with the approximate law. Our entire picture of the world has to be altered even though the mass changes only by a little bit. This is a very peculiar thing about the philosophy, or the ideas, behind the laws. Even a very small effect sometimes requires profound changes to our ideas.Which of the following options is DEFINITLY NOT an approximation to the complete truth?
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MCQ-> Read carefully the four passages that follow and answer the questions given at the end of each passage:PASSAGE I The most important task is revitalizing the institution of independent directors. The independent directors of a company should be faithful fiduciaries protecting, the long-term interests of shareholders while ensuring fairness to employees, investor, customer, regulators, the government of the land and society. Unfortunately, very often, directors are chosen based of friendship and, sadly, pliability. Today, unfortunately, in the majority of cases, independence is only true on paper.The need of the hour is to strengthen the independence of the board. We have to put in place stringent standards for the independence of directors. The board should adopt global standards for director-independence, and should disclose how each independent director meets these standards. It is desirable to have a comprehensive report showing the names of the company employees of fellow board members who are related to each director on the board. This report should accompany the annual report of all listed companies. Another important step is to regularly assess the board members for performance. The assessment should focus on issues like competence, preparation, participation and contribution. Ideally, this evaluation should be performed by a third party. Underperforming directors should be allowed to leave at the end of their term in a gentle manner so that they do not lose face. Rather than being the rubber stamp of a company’s management policies, the board should become a true active partner of the management. For this, independent directors should be trained in their in their in roles and responsibilities. Independent directors should be trained on the business model and risk model of the company, on the governance practices, and the responsibilities of various committees of the board of the company. The board members should interact frequently with executives to understand operational issues. As part of the board meeting agenda, the independent directors should have a meeting among themselves without the management being present. The independent board members should periodically review the performance of the company’s CEO, the internal directors and the senior management. This has to be based on clearly defined objective criteria, and these criteria should be known to the CEO and other executive directors well before the start of the evolution period. Moreover, there should be a clearly laid down procedure for communicating the board’s review to the CEO and his/her team of executive directors. Managerial remuneration should be based on such reviews. Additionally, senior management compensation should be determined by the board in a manner that is fair to all stakeholders. We have to look at three important criteria in deciding managerial remuneration-fairness accountability and transparency. Fairness of compensation is determined by how employees and investors react to the compensation of the CEO. Accountability is enhanced by splitting the total compensation into a small fixed component and a large variable component. In other words, the CEO, other executive directors and the senior management should rise or fall with the fortunes of the company. The variable component should be linked to achieving the long-term objectives of the firm. Senior management compensation should be reviewed by the compensation committee of the board consisting of only the independent directors. This should be approved by the shareholders. It is important that no member of the internal management has a say in the compensation of the CEO, the internal board members or the senior management. The SEBI regulations and the CII code of conduct have been very helpful in enhancing the level of accountability of independent directors. The independent directors should decide voluntarily how they want to contribute to the company. Their performance should decide voluntarily how they want to contribute to the company. Their performance should be appraised through a peer evaluation process. Ideally, the compensation committee should decide on the compensation of each independent director based on such a performance appraisal. Auditing is another major area that needs reforms for effective corporate governance. An audit is the Independent examination of financial transactions of any entity to provide assurance to shareholder and other stakeholders that the financial statements are free of material misstatement. Auditors are qualified professionals appointed by the shareholders to report on the reliability of financial statements prepared by the management. Financial markets look to the auditor’s report for an independent opinion on the financial and risk situation of a company. We have to separate such auditing form other services. For a truly independent opinion, the auditing firm should not provide services that are perceived to be materially in conflict with the role of the auditor. These include investigations, consulting advice, sub contraction of operational activities normally undertaken by the management, due diligence on potential acquisitions or investments, advice on deal structuring, designing/implementing IT systems, bookkeeping, valuations and executive recruitment. Any departure from this practice should be approved by the audit committee in advance. Further, information on any such exceptions must be disclosed in the company’s quarterly and annual reports. To ensure the integrity of the audit team, it is desirable to rotate auditor partners. The lead audit partner and the audit partner responsible for reviewing a company’s audit must be rotated at least once every three to five years. This eliminates the possibility of the lead auditor and the company management getting into the kind of close, cozy relationship that results in lower objectivity in audit opinions. Further, a registered auditor should not audit a chief accounting office was associated with the auditing firm. It is best that members of the audit teams are prohibited from taking up employment in the audited corporations for at least a year after they have stopped being members of the audit team.A competent audit committee is essential to effectively oversee the financial accounting and reporting process. Hence, each member of the audit committee must be ‘financially literate’, further, at least one member of the audit committee, preferably the chairman, should be a financial expert-a person who has an understanding of financial statements and accounting rules, and has experience in auditing. The audit committee should establish procedures for the treatment of complaints received through anonymous submission by employees and whistleblowers. These complaints may be regarding questionable accounting or auditing issues, any harassment to an employee or any unethical practice in the company. The whistleblowers must be protected. Any related-party transaction should require prior approval by the audit committee, the full board and the shareholders if it is material. Related parties are those that are able to control or exercise significant influence. These include; parent- subsidiary relationships; entities under common control; individuals who, through ownership, have significant influence over the enterprise and close members of their families; and dey management personnel.Accounting standards provide a framework for preparation and presentation of financial statements and assist auditors in forming an opinion on the financial statements. However, today, accounting standards are issued by bodies comprising primarily of accountants. Therefore, accounting standards do not always keep pace with changes in the business environment. Hence, the accounting standards-setting body should include members drawn from the industry, the profession and regulatory bodies. This body should be independently funded. Currently, an independent oversight of the accounting profession does not exist. Hence, an independent body should be constituted to oversee the functioning of auditors for Independence, the quality of audit and professional competence. This body should comprise a "majority of non- practicing accountants to ensure independent oversight. To avoid any bias, the chairman of this body should not have practiced as an accountant during the preceding five years. Auditors of all public companies must register with this body. It should enforce compliance with the laws by auditors and should mandate that auditors must maintain audit working papers for at least seven years.To ensure the materiality of information, the CEO and CFO of the company should certify annual and quarterly reports. They should certify that the information in the reports fairly presents the financial condition and results of operations of the company, and that all material facts have been disclosed. Further, CEOs and CFOs should certify that they have established internal controls to ensure that all information relating to the operations of the company is freely available to the auditors and the audit committee. They should also certify that they have evaluated the effectiveness of these controls within ninety days prior to the report. False certifications by the CEO and CFO should be subject to significant criminal penalties (fines and imprisonment, if willful and knowing). If a company is required to restate its reports due to material non-compliance with the laws, the CEO and CFO must face severe punishment including loss of job and forfeiting bonuses or equity-based compensation received during the twelve months following the filing.The problem with the independent directors has been that: I. Their selection has been based upon their compatibility with the company management II. There has been lack of proper training and development to improve their skill set III. Their independent views have often come in conflict with the views of company management. This has hindered the company’s decision-making process IV. Stringent standards for independent directors have been lacking....
MCQ->The Parliament is empowered to make laws on any subject of the State List during....
MCQ-> Last fortnight, news of a significant development was tucked away in the inside pages of newspapers. The government finally tabled a bill in Parliament seeking to make primary education a fundamental right. A fortnight earlier, a Delhi-based newspaper had carried a report about a three-month interruption in the Delhi Government's ‘Education for All’ programme. The report made for distressing reading. It said that literacy centres across the city were closed down, volunteers beaten up and enrolment registers burnt. All because the state government had, earlier this year, made participation in the programme mandatory for teachers in government schools. The routine denials were issued and there probably was a wee bit of exaggeration in the report.But it still is a pointer to the enormity of the task at hand. That economic development will be inherently unstable unless it is built on a solid base of education, specially primary education, has been said so often that it is in danger of becoming a platitude. Nor does India's abysmal record in the field need much reiteration. Nearly 30 million children in the six to ten age group do not go to school — reason enough to make primary education not only compulsory but a fundamental right. But is that the Explanation? More importantly, will it work? Or will it remain a mere token, like the laws providing for compulsory primary education? It is now widely known that 14 states and four Union Territories have this law on their statute books.Believe it or not, the list actually includes Bihar, Madhya Pradesh (MP) and Rajasthan, where literacy and education levels are miles below the national average. A number of states have not even notified the compulsory education law. This is not to belittle the decision to make education a fundamental right. As a statement of political will, a commitment by the decision-makers, its importance cannot be undervalued. Once this commitment is clear, a lot of other things like resource allocation will naturally fall into place. But the task of universalizing elementary education (UEE) is complicated by various socio-economic and cultural factors which vary from region to region and within regions. If India's record continues to appall, it is because these intricacies have not been adequately understood by the planners and administrators.The trouble has been that education policy has been designed by grizzled mandarins ensconced in Delhi and is totally out of touch with the ground reality. The key then is to decentralise education planning and implementation. What's also needed is greater community involvement in the whole process. Only then can school timings be adjusted for convenience, school children given a curriculum they can relate to and teachers made accountable. For proof, one has only to look at the success of the district primary education programme, which was launched in 1994. It has met with a fair degree of success in the 122 districts it covers. Here the village community is involved in all aspects of education — allocating finances to supervising teachers to fixing school timings and developing curriculum and textbooks — through district planning teams. Teachers are also involved in the planning and implementation process and are given small grants to develop teaching and learning material, vastly improving motivational levels. The consequent improvement in the quality of education generates increased demand for education.But for this demand to be generated, quality will first have to be improved. In MP, the village panchayats are responsible for not only constructing and maintaining primary schools but also managing scholarships, besides organising non-formal education. How well this works in practice remains to be seen (though the department claims the schemes are working very well) but the decision to empower panchayats with such powers is itself a significant development. Unfortunately, the Panchayat Raj Act has not been notified in many states.After all, delegating powers to the panchayats is not looked upon too kindly by vested interests. More specifically, by politicians, since decentralisation of education administration takes away from them the power of transfer, which they use to grant favours and build up a support base. But if the political leadership can push through the bill to make education a fundamental right, it should also be able to persuade the states to implement the laws on Panchayat Raj. For, UEE cannot be achieved without decentralisation. Of course, this will have to be accompanied by proper supervision and adequate training of those involved in the administration of education. But the devolution of powers to the local bodies has to come first.One of the problems plaguing the education system in India is
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