Current Affairs Question - 18 December 2021

Consider the given statements in contest to the difference between Mediation and Arbitration:

1. In arbitration, the outcome is determined in accordance with an objective standard, the applicable law.
2. In mediation, any outcome is determined by the will of the parties.
3. In arbitration, a party's task is to convince the arbitral tribunal of its case. It addresses its arguments to the tribunal and not to the other side.
4. In mediation, since the outcome must be accepted by both parties and is not decided by the mediator, a party's task is to convince, or to negotiate with, the other side.

Choose the incorrect statement(s) from the options give below:

Consider the eligibility criteria for Economically Weaker Section (EWS) reservations:

1. The main criterion is that those above an annual income limit of Rs. 6 lakh are excluded (income from all sources such as salary, business, agriculture and profession for the financial year prior to the application) of the family (applicants, their parents, siblings and minor children).
2. Six or more acres of agricultural land.
3. A residential plot of 100 square yards and above in notified municipalities, and a residential plot of 200 square yards and above in other areas.

Which of the above statement(s) is/are correct?