12th February 2023 Current Affairs Quiz for UPSC Prelims
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Question 1 of 10
1. Question
2 points
The “digitized J form” recently seen in news is related to:
Correct
Correct Answer: A
Explanation
Option A is correct. Punjab recently became the first state in the country to provide “digitized form J” in real-time to farmers from this Rabi procurement season.
J FORM
• ‘J form’ is the sale receipt of a farmer’s agricultural produce in mandis (grain market which acts as an income proof for a farmer who sells his crop.
• These forms were earlier issued manually by arthiyas (commission agents).
• It can be used for raising finance, IT waivers, subsidy claims, farmers’ insurance etc.
• It will act as a record of land under cultivation for both the wheat and paddy crops in state.
• J Forms can also be stored in DigiLocker.
Incorrect
Correct Answer: A
Explanation
Option A is correct. Punjab recently became the first state in the country to provide “digitized form J” in real-time to farmers from this Rabi procurement season.
J FORM
• ‘J form’ is the sale receipt of a farmer’s agricultural produce in mandis (grain market which acts as an income proof for a farmer who sells his crop.
• These forms were earlier issued manually by arthiyas (commission agents).
• It can be used for raising finance, IT waivers, subsidy claims, farmers’ insurance etc.
• It will act as a record of land under cultivation for both the wheat and paddy crops in state.
• J Forms can also be stored in DigiLocker.
Question 2 of 10
2. Question
2 points
Consider the following statements with reference to the Gold Monetization Scheme:
1. Under the Gold Monetization Scheme, the Reserve Bank of India will issue the bonds on behalf of the Government of India.
2. The scheme was launched in November 2015 along with sovereign gold bonds and India gold coins.
3. Under the scheme, a depositor gets 2.25% interest annually for a short-term deposit of one year to three years.
Which of the given statements is/are correct?
Correct
Correct Answer: B
Explanation
Gold Monetisation Scheme
• The scheme was launched in November 2015 along with sovereign gold bonds and India gold coins. Hence statement 2 is correct.
• It facilitates the depositors of gold to earn interest on their metal accounts. Once the gold is deposited in metal account, it starts earning interest on the same. Hence statement 1 is not correct.
• Under the scheme, a depositor gets 2.25% interest annually for a short-term deposit of one year to three years. Medium- and long-term deposits get 2.5% interest rate. Hence statement 3 is correct.
• To mobilize the gold held by households and institutions in the country to put this gold into productive use and in the long run to reduce the current account deficit by reducing the country’s reliance on imports of gold to meet the domestic demand.
• Along with GMS, a Sovereign Gold Bond Scheme (an alternative to purchasing metal gold) and development of Indian Gold Coin, were also announced.
• Under the Sovereign Gold Bond Scheme, the Reserve Bank of India will issue the bonds on behalf of the Government of India. Hence statement 1 is not correct.
Incorrect
Question 3 of 10
3. Question
2 points
With reference Group of Seven (G7), consider the following statements:
1. It is a treaty-based inter-governmental political forum.
2. Each member state’s Finance Minister meet annually at the G7 Summit.
3. Russia is a ‘non-enumerated member’ of this group.
Which of the statements given above is/are correct?
Correct
Correct Answer: D
Explanation
• All the statements are incorrect. Statement 1 is incorrect. The Group of Seven (G7) is an intergovernmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. The G7 is not based on a treaty and has no permanent secretariat or office; its presidency rotates annually among the member states, with the presiding state setting the group’s priorities, and hosting and organizing its summit.
• Statement 2 is incorrect. Each member state’s head of government or head of state, along with the Commission President and Council President of the European Union, meet annually at the G7 Summit.
• Statement 3 is incorrect. The European Union is a ‘non-enumerated member’ of G7.
Incorrect
Question 4 of 10
4. Question
2 points
Consider the following statements with reference to the Beej Gram Yojana:
1. It aims to identify the entrepreneurs in villages and providing them technology and finance to set up seed companies.
2. It involves the farmers for training in quality seed production and thereby to make available quality seeds to others at appropriate time and affordable cost.
3. It encourages the farmers to use their own farm seeds and discourages them to buy the seeds from others.
Which of the given statements is/are correct?
Correct
Correct Answer: A
Explanation
Only statement 2 is correct, 1 and 3 are not correct.
Beej Gram Yojana: Seed Village Program
• Seed Village Program (Beej Gram Yojana) is being implemented by the government since 2014-15 to upgrade the quality of farmers’ saved seeds. Hence statement 3 is not correct.
• Key Objective: To upgrade the quality of farmer-saved seed, which is about 80-85% of the total seed used for crop production. They are1. Increasing the seed production,
2. Increasing the seed replacement rate,
3. Self-sufficiency and self-reliance of the village in terms of quality seed production
4. To meet the local demand and timely supply of quality seeds.
Hence statement 1 is not correct.
• Under Seed Village Program, financial assistance for distribution of foundation/certified seeds at 50% of seed cost for cereal crops and 60% for pulses, oilseeds, fodder and green manure crops is available for up to one acre per farmer.
• The Seed Village Program will be monitored by the Seeds Division of the Department of Agriculture and Cooperation.
• In order to encourage farmers to develop storage capacity of appropriate quality, assistance will be given to farmers for making/procuring of Pusa Bin/Mud bin/Bin made from paper pulp for storing of seed produced by the farmers on their farms.
Incorrect
Correct Answer: A
Explanation
Only statement 2 is correct, 1 and 3 are not correct.
Beej Gram Yojana: Seed Village Program
• Seed Village Program (Beej Gram Yojana) is being implemented by the government since 2014-15 to upgrade the quality of farmers’ saved seeds. Hence statement 3 is not correct.
• Key Objective: To upgrade the quality of farmer-saved seed, which is about 80-85% of the total seed used for crop production. They are1. Increasing the seed production,
2. Increasing the seed replacement rate,
3. Self-sufficiency and self-reliance of the village in terms of quality seed production
4. To meet the local demand and timely supply of quality seeds.
Hence statement 1 is not correct.
• Under Seed Village Program, financial assistance for distribution of foundation/certified seeds at 50% of seed cost for cereal crops and 60% for pulses, oilseeds, fodder and green manure crops is available for up to one acre per farmer.
• The Seed Village Program will be monitored by the Seeds Division of the Department of Agriculture and Cooperation.
• In order to encourage farmers to develop storage capacity of appropriate quality, assistance will be given to farmers for making/procuring of Pusa Bin/Mud bin/Bin made from paper pulp for storing of seed produced by the farmers on their farms.
Question 5 of 10
5. Question
2 points
Consider the following statements with reference to the e-Shram Portal:
1. It aims to create a national database of the organised and unorganized workers.
2. Under it, workers is provided with an e-SHRAM card which have a 12 digit unique number.
3. This will be a single-point reference to help authorities reach out to and track skilled employees in the formal sector.
4. It is available in public for open access where workers can self-enroll through Aadhaar and mobile numbers.
Which of the given statements is/are correct?
Correct
Correct Answer: C
Explanation
Only statements 2 and 4 are correct, 1 and 3 are not correct.
E-Shram Portal
• The portal was launched on August 26, 2021 with the aim of creating a national database of unorganised workers (NDUW). Hence statement 1 is not correct.
• Ministry: Ministry of Labour & Employment.
• Workers is provided with an e-SHRAM card which have a 12 digit unique number. Hence statement 2 is correct.
• The details of workers is also shared by the state government and departments.
• This will be a single-point reference to help authorities reach out to and track workers in the informal sector, and offer welfare in times of crisis. Hence statement 3 is not correct.
• The database will include construction workers, migrant workers, gig and platform workers, street vendors, domestic workers, agriculture workers, migrant workers and similar other subgroups of unorganised workers.
• It is available in public for open access where workers can self-enrol through Aadhaar and mobile numbers. Hence statement 4 is correct.
Incorrect
Correct Answer: C
Explanation
Only statements 2 and 4 are correct, 1 and 3 are not correct.
E-Shram Portal
• The portal was launched on August 26, 2021 with the aim of creating a national database of unorganised workers (NDUW). Hence statement 1 is not correct.
• Ministry: Ministry of Labour & Employment.
• Workers is provided with an e-SHRAM card which have a 12 digit unique number. Hence statement 2 is correct.
• The details of workers is also shared by the state government and departments.
• This will be a single-point reference to help authorities reach out to and track workers in the informal sector, and offer welfare in times of crisis. Hence statement 3 is not correct.
• The database will include construction workers, migrant workers, gig and platform workers, street vendors, domestic workers, agriculture workers, migrant workers and similar other subgroups of unorganised workers.
• It is available in public for open access where workers can self-enrol through Aadhaar and mobile numbers. Hence statement 4 is correct.
Question 6 of 10
6. Question
2 points
Consider the following statements with reference to the National Small Savings Fund:
1. National Small Savings Fund (NSSF) in the Consolidated fund of India was established in 1999.
2. The transactions of National Small Savings Fund do impact the fiscal deficit of the Centre directly.
3. The RBI decides the interest rates on small savings schemes in India.
Which of the given statements is/are not correct?
Correct
Correct Answer: D
Explanation
All the statements are not correct.
National Small Savings Fund
• National Small Savings Fund (NSSF) in the Public Account of India was established in 1999.
Hence statement 1 is not correct.
• The Fund is administered by the Government of India, Ministry of Finance (Department of Economic Affairs) under National Small Savings Fund (Custody and Investment) Rules, 2001, framed by the President under Article 283(1) of the Constitution.
• The objective of NSSF is to de-link small savings transactions from the Consolidated Fund of India and ensure their operation in a transparent and self-sustaining manner.
• Since NSSF operates in the public account, its transactions do not impact the fiscal deficit of the Centre directly. Hence statement 3 is not correct.
• The Ministry of Finance decides the interest rates on small savings schemes in India. Hence statement 3 is not correct.
• Small savings instruments can be classified under three heads:
1. Postal deposits (comprising savings account, recurring deposits, time deposits of varying maturities and monthly income scheme),
2. Savings certificates like: National Small Savings Certificate(NSC) and Kisan Vikas Patra (KVP)
3. Social security schemes like: Public Provident Fund (PPF) and Senior Citizens‘ Savings Scheme(SCSS)
Incorrect
Correct Answer: D
Explanation
All the statements are not correct.
National Small Savings Fund
• National Small Savings Fund (NSSF) in the Public Account of India was established in 1999.
Hence statement 1 is not correct.
• The Fund is administered by the Government of India, Ministry of Finance (Department of Economic Affairs) under National Small Savings Fund (Custody and Investment) Rules, 2001, framed by the President under Article 283(1) of the Constitution.
• The objective of NSSF is to de-link small savings transactions from the Consolidated Fund of India and ensure their operation in a transparent and self-sustaining manner.
• Since NSSF operates in the public account, its transactions do not impact the fiscal deficit of the Centre directly. Hence statement 3 is not correct.
• The Ministry of Finance decides the interest rates on small savings schemes in India. Hence statement 3 is not correct.
• Small savings instruments can be classified under three heads:
1. Postal deposits (comprising savings account, recurring deposits, time deposits of varying maturities and monthly income scheme),
2. Savings certificates like: National Small Savings Certificate(NSC) and Kisan Vikas Patra (KVP)
3. Social security schemes like: Public Provident Fund (PPF) and Senior Citizens‘ Savings Scheme(SCSS)
Question 7 of 10
7. Question
2 points
Which of the following statements are correct regarding payment banks in India?
1. They are required to invest minimum 75% of its demand deposit balances in Government securities.
2. They are registered as a public limited company under the Companies Act, 2013.
3. They can issue credit as well as debit cards.
Select the correct answer using the code given below:
Correct
Correct Answer: A
Explanation
Statement 3 is not correct, 1 and 2 are correct.
Payment Banks
• In 2013, the Reserve Bank of India constituted a committee headed by Dr Nachiket Mor. One of the key suggestions of the committee was to introduce specialised banks or ‘payments bank’ to cater to the lower income groups and small businesses.
• A payments bank is like any other bank, but operating on a smaller scale without involving any credit risk.
• In simple words, it can carry out most banking operations but can’t advance loans or issue credit cards. Hence statement 3 is NOT correct.
• The payments bank will be registered as a public limited company under the Companies Act, 2013, and licensed under Section 22 of the Banking Regulation Act, 1949, with specific licensing conditions restricting its activities mainly to acceptance of demand deposits and provision of payments and remittance services. Hence statement 2 is correct.
• The payments bank cannot undertake lending activities.
• Apart from amounts maintained as Cash Reserve Ratio (CRR) with RBI on its outside demand and time liabilities, it will be required to invest minimum 75 per cent of its “demand deposit balances” in Government securities/Treasury Bills with maturity up to one year that are recognized by RBI as eligible securities for maintenance of Statutory Liquidity Ratio (SLR) and hold maximum 25 per cent in current and time/ fixed deposits with other scheduled commercial banks for operational purposes and liquidity management.
Incorrect
Correct Answer: A
Explanation
Statement 3 is not correct, 1 and 2 are correct.
Payment Banks
• In 2013, the Reserve Bank of India constituted a committee headed by Dr Nachiket Mor. One of the key suggestions of the committee was to introduce specialised banks or ‘payments bank’ to cater to the lower income groups and small businesses.
• A payments bank is like any other bank, but operating on a smaller scale without involving any credit risk.
• In simple words, it can carry out most banking operations but can’t advance loans or issue credit cards. Hence statement 3 is NOT correct.
• The payments bank will be registered as a public limited company under the Companies Act, 2013, and licensed under Section 22 of the Banking Regulation Act, 1949, with specific licensing conditions restricting its activities mainly to acceptance of demand deposits and provision of payments and remittance services. Hence statement 2 is correct.
• The payments bank cannot undertake lending activities.
• Apart from amounts maintained as Cash Reserve Ratio (CRR) with RBI on its outside demand and time liabilities, it will be required to invest minimum 75 per cent of its “demand deposit balances” in Government securities/Treasury Bills with maturity up to one year that are recognized by RBI as eligible securities for maintenance of Statutory Liquidity Ratio (SLR) and hold maximum 25 per cent in current and time/ fixed deposits with other scheduled commercial banks for operational purposes and liquidity management.
Question 8 of 10
8. Question
2 points
Recently the Open Network for Digital Commerce (ONDC) project went live on a limited scale. In this regard, consider the following statements:
1. ONDC is an initiative of the Ministry of Electronics and Information Technology.
2. The project aims to integrate e-commerce platforms through a network based on open-source technology has been tasked to the Quality Council of India.
3. ONDC will democratize e-commerce, curb digital monopolies and create new opportunities.
Which of the given statements is/are correct?
Correct
Correct Answer: C
Explanation
Open Network for Digital Commerce (ONDC)
• ONDC is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry. Hence statement 1 is not correct.
• The ONDC aims at promoting open networks developed on open-sourced methodology, using open specifications and open network protocols, independent on any specific platform.
• The project to integrate e-commerce platforms through a network based on open-source technology has been tasked to the Quality Council of India. Hence statement 2 is correct.
• Implementation of ONDC, which is expected to be on the lines of Unified Payments Interface (UPI) could bring various operational aspects put in place by e-commerce platforms to the same level.
• Various operational aspects include onboarding of sellers, vendor discovery, price discovery and product cataloguing etc.
Significance:
• If the ONDC gets implemented and mandated, it would mean that all e-commerce companies will have to operate using the same processes (like Android Based Mobile Devices).
• This could give a huge booster shot to smaller online retailers and new entrants.
• If mandated, this could be problematic for larger e-commerce companies, which have their own processes and technology deployed for these segments of operations.
• ONDC is expected to digitise the entire value chain, standardise operations, promote inclusion of suppliers, derive efficiency in logistics and enhance value for consumers.
Incorrect
Correct Answer: C
Explanation
Open Network for Digital Commerce (ONDC)
• ONDC is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry. Hence statement 1 is not correct.
• The ONDC aims at promoting open networks developed on open-sourced methodology, using open specifications and open network protocols, independent on any specific platform.
• The project to integrate e-commerce platforms through a network based on open-source technology has been tasked to the Quality Council of India. Hence statement 2 is correct.
• Implementation of ONDC, which is expected to be on the lines of Unified Payments Interface (UPI) could bring various operational aspects put in place by e-commerce platforms to the same level.
• Various operational aspects include onboarding of sellers, vendor discovery, price discovery and product cataloguing etc.
Significance:
• If the ONDC gets implemented and mandated, it would mean that all e-commerce companies will have to operate using the same processes (like Android Based Mobile Devices).
• This could give a huge booster shot to smaller online retailers and new entrants.
• If mandated, this could be problematic for larger e-commerce companies, which have their own processes and technology deployed for these segments of operations.
• ONDC is expected to digitise the entire value chain, standardise operations, promote inclusion of suppliers, derive efficiency in logistics and enhance value for consumers.
Question 9 of 10
9. Question
2 points
Consider the following statements with reference to the Health Star Rating System of FSSAI for Packaged Food:
1. This system will be similar to the one that is being used by the Bureau of Energy Efficiency for assessing the energy efficiency in electrical devices.
2. The packaged foods will have number of stars displayed on them which will indicate whether the item is healthy or unhealthy.
3. The price of the food items and material used for packaging will be used to determine the rating.
Which of the given statements is/are correct?
Correct
Correct Answer: A
Explanation
Statements 1 and 2 are correct, 3 is not correct.
The “health star rating” system that the Food Safety Standards Authority of India (FSSAI) plans to adopt in order to help consumers reduce their intake of unhealthy foods has been opposed by a dozen consumer and health advocacy groups.
Health Star Rating System
• This system will be similar to the one that is being used by the Bureau of Energy Efficiency for assessing the energy efficiency in electrical devices. Hence statement 1 is correct.
• The packaged foods will have number of stars displayed on them which will indicate whether the item is healthy or unhealthy. Hence statement 2 is correct.
• The amount of fats, sugar, and salt in the food item will be used to determine the rating. Hence statement 3 is not correct.
• A study was conducted by IIM Ahmedabad regarding the methodology to be used to display the health ratings of the food items
• The display of star ratings was recommended in this study as it would be easier for the customer to understand.
• It has been decided that the ratings will be placed in front of the packets as studies show that this method is much more effective towards affecting the choice of the consumer. Applicability
• All packaged food items or processed food will have the HSR label. These will include chips, biscuits, namkeen, sweets and chocolates, meat nuggets, and cookies.
• Exemptions: However, milk and its products such as chenna and ghee are EXEMPTED as per the FSSAI draft notified in 2019.
Incorrect
Correct Answer: A
Explanation
Statements 1 and 2 are correct, 3 is not correct.
The “health star rating” system that the Food Safety Standards Authority of India (FSSAI) plans to adopt in order to help consumers reduce their intake of unhealthy foods has been opposed by a dozen consumer and health advocacy groups.
Health Star Rating System
• This system will be similar to the one that is being used by the Bureau of Energy Efficiency for assessing the energy efficiency in electrical devices. Hence statement 1 is correct.
• The packaged foods will have number of stars displayed on them which will indicate whether the item is healthy or unhealthy. Hence statement 2 is correct.
• The amount of fats, sugar, and salt in the food item will be used to determine the rating. Hence statement 3 is not correct.
• A study was conducted by IIM Ahmedabad regarding the methodology to be used to display the health ratings of the food items
• The display of star ratings was recommended in this study as it would be easier for the customer to understand.
• It has been decided that the ratings will be placed in front of the packets as studies show that this method is much more effective towards affecting the choice of the consumer. Applicability
• All packaged food items or processed food will have the HSR label. These will include chips, biscuits, namkeen, sweets and chocolates, meat nuggets, and cookies.
• Exemptions: However, milk and its products such as chenna and ghee are EXEMPTED as per the FSSAI draft notified in 2019.
Question 10 of 10
10. Question
2 points
Consider the following statements with reference to the Horticulture sector in India:
1. India is the largest producer of fruits and vegetables in the world followed by China.
2. Horticulture crops account for nearly 37 per cent of the total exports of agricultural commodities from India.
3. Indian horticulture faces high post-harvest loss and gaps in post-harvest management due to less or limited input by machinery and equipment.
4. The National Horticulture Mission was launched in the union budget 2021-22 as a Centrally Sponsored Scheme.
Which of the given statements is/are correct?
Correct
Correct Answer: B
Explanation
Only statements 2 and 3 are correct, 1 and 4 are not correct.
Horticulture sector in India
• It is a science and art of production, utilisation and improvement of fruits, vegetables, flowers and other plants for human food, non-food uses and social needs.
• It is imperative to cater to the country’s estimated demand of 650 MT of fruits and vegetables by the year 2050.
• India is the second-largest producer of fruits and vegetables in the world after China. Hence statement 1 is not correct.
• Horticultural crops constitute a significant portion of the total agricultural produce in India.
• They cover a wide cultivation area and contribute about 28 per cent of the Gross Domestic Product (GDP).
• These crops account for 37 per cent of the total exports of agricultural commodities from India.
Hence statement 2 is correct.
• During the year 2019-20, the country recorded its highest ever horticulture production of 320.77 million tonnes from an area of 25.66 million hectares.
• It faces high post-harvest loss and gaps in post-harvest management due to less or limited input by machinery and equipment. Hence statement 3 is correct.
• Lack of supply chain infrastructures like cold storage and well-connected transport networks.
• Difficulties in setting up due to higher input costs and limited availability of market intelligence, mainly for exports.
• A National Horticulture Mission was launched in 2005-06 as a Centrally Sponsored Scheme to promote holistic growth of the horticulture sector through an area based regionally differentiated strategies. Hence statement 4 is not correct.
Incorrect
Correct Answer: B
Explanation
Only statements 2 and 3 are correct, 1 and 4 are not correct.
Horticulture sector in India
• It is a science and art of production, utilisation and improvement of fruits, vegetables, flowers and other plants for human food, non-food uses and social needs.
• It is imperative to cater to the country’s estimated demand of 650 MT of fruits and vegetables by the year 2050.
• India is the second-largest producer of fruits and vegetables in the world after China. Hence statement 1 is not correct.
• Horticultural crops constitute a significant portion of the total agricultural produce in India.
• They cover a wide cultivation area and contribute about 28 per cent of the Gross Domestic Product (GDP).
• These crops account for 37 per cent of the total exports of agricultural commodities from India.
Hence statement 2 is correct.
• During the year 2019-20, the country recorded its highest ever horticulture production of 320.77 million tonnes from an area of 25.66 million hectares.
• It faces high post-harvest loss and gaps in post-harvest management due to less or limited input by machinery and equipment. Hence statement 3 is correct.
• Lack of supply chain infrastructures like cold storage and well-connected transport networks.
• Difficulties in setting up due to higher input costs and limited availability of market intelligence, mainly for exports.
• A National Horticulture Mission was launched in 2005-06 as a Centrally Sponsored Scheme to promote holistic growth of the horticulture sector through an area based regionally differentiated strategies. Hence statement 4 is not correct.
