Answer: C

Explanation:

Statement 1 is incorrect: The relaxation by the DPIIT permits FDI in the inventory-based e-commerce model exclusively for exports. Restrictions on foreign-funded inventory ownership in the domestic retail market continue to apply unchanged to protect local mom-and-pop stores and small domestic retailers.

Statement 2 is correct: In a marketplace model, an e-commerce firm operates strictly as a digital facilitator or intermediary connecting independent buyers and sellers, and it is not permitted to own the products listed for sale on its platform.

Statement 3 is correct: The policy adjustment is targeted specifically at boosting outbound shipments of goods manufactured within India, enabling major platforms to handle warehousing and customs compliance seamlessly for local producers.

Answer: C

Explanation:

Statement 1 is incorrect: Taxation of VDAs under Section 2(47A) of the Income Tax Act (30% tax on gains and 1% TDS) is a measure of financial oversight. It does not imply legal recognition, legality, or legal tender status for cryptocurrencies.

 Statement 2 is correct: VDA trading platforms and intermediaries are designated as reporting entities under the PMLA and must comply with Financial Intelligence Unit (FIU-IND) norms to prevent illicit financial flows.

Statement 3 is correct: VDAs fundamentally differ from traditional asset classes like shares or bonds because they do not represent underlying corporate ownership, debt, or physical backing, relying instead on decentralized distributed ledgers.

Answer: B

Explanation:

Statement 1 is incorrect: The Parliamentary panel specifically advised against packing VDAs into the proposed Securities Market Code (SMC). Traditional securities regulations rely on centralized clearing houses and identifiable corporate issuers, which clash with the boundaryless, decentralized protocols of VDAs.

Statement 2 is correct: To bridge the current regulatory vacuum and address market integrity risks before a comprehensive standalone law takes shape, the committee proposed an interim framework governed through recognized Self-Regulatory Organisations (SROs).

Answer: B

Explanation:

Statement 1 is correct: The concept of Fast Track Courts was formally introduced by the 11th Finance Commission (2000), which allocated specific grants to clear long-pending sessions cases and undertrial matters.

Statement 2 is incorrect: FTCs are not established by direct central legislation alone; State Governments set them up in consultation with their respective High Courts, functioning within the existing judicial hierarchy. The Union Government provides policy guidelines and financial backing.

Statement 3 is correct: In 2019, the Centre launched Fast Track Special Courts (FTSCs) under a Centrally Sponsored Scheme backed by the Nirbhaya Fund to exclusively handle rape and POCSO cases.

Answer: C

Explanation:

Statement 1 is correct: Project Kusha, or the Extended Range Air Defence System (ERADS), is an indigenous long-range surface-to-air missile program being developed by the Defence Research and Development Organisation (DRDO) to serve as the backbone of India's long-range air defense.

Statement 2 is incorrect: The primary focus of Project Kusha is to neutralize fighter aircraft, stealth aircraft, cruise missiles, drones, and airborne early warning (AEW&C) systems. Direct protection against ballistic missiles is handled separately by India's dedicated Ballistic Missile Defence (BMD) programme, with both systems working in conjunction.

Statement 3 is correct: The system incorporates three distinct variants of interceptor missiles: M1 (range of 150 km), M2 (range of 250 km), and M3 (range of 350–400 km) to create a robust, multi-layered defense shield.