17th February 2023 Current Affairs Quiz for UPSC Prelims
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Question 1 of 5
1. Question
2 points
In the context of economy, which of the following best describes ‘stablecoins’?
Correct
Correct Answer: D
Explanation
Stablecoins
• Cryptocurrency prices tend to vary a huge amount in a short span of time and people find this volatility
exciting.
• Stablecoins are cryptocurrencies without the volatility. They share a lot of the same powers as other
cryptos, but their value is steady, more like a traditional currency, i.e. the US Dollar, Indian Rupee, etc.
• Stablecoins are a type of cryptocurrency linked to an asset like the U.S. dollar that doesn’t change
much in value.
• Many are also pegged to other fiat currencies issued by governments like the euro and yen.
• There are two types of stablecoins depending on the collateral: national currency backed, and
cryptocurrency backed.
• Collateralised stablecoins are attached to another asset, like the US dollar. Their issuers back up the
value of their coin by holding on to that asset.
• Other stablecoins are linked to the price of crypto assets like Ether or, in certain DeFi apps, collections
of coins put up as collateral.
Incorrect
Correct Answer: D
Explanation
Stablecoins
• Cryptocurrency prices tend to vary a huge amount in a short span of time and people find this volatility
exciting.
• Stablecoins are cryptocurrencies without the volatility. They share a lot of the same powers as other
cryptos, but their value is steady, more like a traditional currency, i.e. the US Dollar, Indian Rupee, etc.
• Stablecoins are a type of cryptocurrency linked to an asset like the U.S. dollar that doesn’t change
much in value.
• Many are also pegged to other fiat currencies issued by governments like the euro and yen.
• There are two types of stablecoins depending on the collateral: national currency backed, and
cryptocurrency backed.
• Collateralised stablecoins are attached to another asset, like the US dollar. Their issuers back up the
value of their coin by holding on to that asset.
• Other stablecoins are linked to the price of crypto assets like Ether or, in certain DeFi apps, collections
of coins put up as collateral.
Question 2 of 5
2. Question
2 points
The e-Shram Portal was recently integrated with the One Nation One Ration Card scheme.
Consider the following statements with reference to the ONORC:
1. Under the scheme, the existing ration cards will be turned as one nation one ration card.
2. ONORC will be a universal ration card allotted to all legal citizens of India.
3. The e-AMRIT portal under the scheme will host the data of the food grains distribution through
electronic Point of Sale devices within a state.
4. It will enable migrant workers and their families to access the public distribution system (PDS)
benefits from any fair price shops across the country.
Which of the given statements is/are correct?
Correct
Correct Answer: C
Explanation
Statements 1 and 4 are correct, 2 and 3 are not correct.
One Nation One Ration Card scheme (ONORC)
• The Ministry of Consumer Affairs, Food and Public Distribution rolled out a pilot scheme titled, One
Nation One Ration Card Scheme in four states on a pilot basis in 2019.
• It is a national ration card that will enable migrant workers and their families to access the public
distribution system (PDS) benefits from any fair price shops across the country. Hence statement 4 is
correct.
The characteristics of the ONORC are:
• Existing ration cards will be turned as one nation one ration card. Hence statement 1 is correct.
• It will be a universal ration card allotted to each beneficiary registered under NFSA. Hence statement 2
is not correct.
• Using the ONORC, a beneficiary who migrates from one place to another can buy subsidized food
grains from the fair price shop located in the destination city regardless of the origin of the beneficiaries.
• The beneficiaries will be identified through biometric authentication on electronic Point of Sale (ePoS)
devices. These devices will be installed at each fair price shop.
• The national portability will work using the:
• Integrated Management of Public Distribution System (IM-PDS) portal – It will provide the
technological platform for the ration cards portability. Hence statement 3 is not correct.
• Annavitran portal – It will host the data of the food grains distribution through ePoS devices within a
state. This will help a beneficiary to access subsidized food grains within a state (interdistrict.)
• E-Amrit is a one-stop destination for all information on electric vehicles—busting myths around the
adoption of EVs, their purchase, investment opportunities, policies, subsidies, etc.
Incorrect
Correct Answer: C
Explanation
Statements 1 and 4 are correct, 2 and 3 are not correct.
One Nation One Ration Card scheme (ONORC)
• The Ministry of Consumer Affairs, Food and Public Distribution rolled out a pilot scheme titled, One
Nation One Ration Card Scheme in four states on a pilot basis in 2019.
• It is a national ration card that will enable migrant workers and their families to access the public
distribution system (PDS) benefits from any fair price shops across the country. Hence statement 4 is
correct.
The characteristics of the ONORC are:
• Existing ration cards will be turned as one nation one ration card. Hence statement 1 is correct.
• It will be a universal ration card allotted to each beneficiary registered under NFSA. Hence statement 2
is not correct.
• Using the ONORC, a beneficiary who migrates from one place to another can buy subsidized food
grains from the fair price shop located in the destination city regardless of the origin of the beneficiaries.
• The beneficiaries will be identified through biometric authentication on electronic Point of Sale (ePoS)
devices. These devices will be installed at each fair price shop.
• The national portability will work using the:
• Integrated Management of Public Distribution System (IM-PDS) portal – It will provide the
technological platform for the ration cards portability. Hence statement 3 is not correct.
• Annavitran portal – It will host the data of the food grains distribution through ePoS devices within a
state. This will help a beneficiary to access subsidized food grains within a state (interdistrict.)
• E-Amrit is a one-stop destination for all information on electric vehicles—busting myths around the
adoption of EVs, their purchase, investment opportunities, policies, subsidies, etc.
Question 3 of 5
3. Question
2 points
Consider the following statements with reference to the Pradhan Mantri Annadata Aay
Sanrakshan Abhiyan (PM-AASHA):
1. Under the Price Support Scheme (PSS), Central nodal agencies will procure pulses, oilseeds and copra
with proactive role of state governments.
2. Under the Price Deficiency Payment Scheme (PDPS), the state will provide the difference between the
prices prevailing in mandis and the MSP.
3. The Food Corporation of India (FCI) and the National Agricultural Cooperative Marketing Federation of
India (NAFED) will help implement the scheme.
Which of the given statements is/are correct?
Correct
Correct Answer: D
Explanation
All the statements are correct.
Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA)
Components of PM-AASHA
Price Support Scheme (PSS)
• Under the PSS, Central nodal agencies will procure pulses, oilseeds and copra with proactive role of
state governments. Hence statement 1 is correct.
• The Food Corporation of India (FCI) and the National Agricultural Cooperative Marketing Federation of
India (NAFED) will help implement the scheme. Hence statement 3 is correct.
• The procurement expenditure and losses due to procurement will be borne by Central Government as
per norms.
Price Deficiency Payment Scheme (PDPS)
• Under the PDPS, the state will provide the difference between the prices prevailing in mandis and the
MSP. Hence statement 2 is correct.
• All oil-seeds are to be covered under PDPS.
• This scheme is modelled on the Bhawantar Bhugtan Yojana that has been implemented by the Madhya
Pradesh state government as well as Bhavantar Bharpai Yojana of Haryana Government.
Incorrect
Correct Answer: D
Explanation
All the statements are correct.
Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA)
Components of PM-AASHA
Price Support Scheme (PSS)
• Under the PSS, Central nodal agencies will procure pulses, oilseeds and copra with proactive role of
state governments. Hence statement 1 is correct.
• The Food Corporation of India (FCI) and the National Agricultural Cooperative Marketing Federation of
India (NAFED) will help implement the scheme. Hence statement 3 is correct.
• The procurement expenditure and losses due to procurement will be borne by Central Government as
per norms.
Price Deficiency Payment Scheme (PDPS)
• Under the PDPS, the state will provide the difference between the prices prevailing in mandis and the
MSP. Hence statement 2 is correct.
• All oil-seeds are to be covered under PDPS.
• This scheme is modelled on the Bhawantar Bhugtan Yojana that has been implemented by the Madhya
Pradesh state government as well as Bhavantar Bharpai Yojana of Haryana Government.
Question 4 of 5
4. Question
2 points
Liquid Nano Urea (a fertilizer) has been approved by the government for commercial use. In this regard, consider the following statements:
1. It is developed by the Indian Council of Agricultural Research (ICAR), Pusa.
2. It is sprayed directly on the leaves and gets absorbed by the plant.
3. It has a very short shelf life of about few days.
Which of the given statements is/are correct?
Correct
Correct Answer: C
Explanation
Only statement 2 is correct.
Liquid Nano Urea
• It has been developed by Indian Farmers Fertilizer Cooperative (IFFCO)’s Nano Biotechnology Research Center (NBRC). Hence statement 1 is not correct.
• It is sprayed directly on the leaves and gets absorbed by the plant. Hence statement 2 is correct.
• It has a shelf life of a year and farmers need not be worried about “caking” when it comes in contact with moisture. Hence statement 3 is not correct.
Incorrect
Correct Answer: C
Explanation
Only statement 2 is correct.
Liquid Nano Urea
• It has been developed by Indian Farmers Fertilizer Cooperative (IFFCO)’s Nano Biotechnology Research Center (NBRC). Hence statement 1 is not correct.
• It is sprayed directly on the leaves and gets absorbed by the plant. Hence statement 2 is correct.
• It has a shelf life of a year and farmers need not be worried about “caking” when it comes in contact with moisture. Hence statement 3 is not correct.
Question 5 of 5
5. Question
2 points
In specific context to agriculture the term ‘Kurki’ refers to
Correct
Correct Answer: D
Explanation
Kurki
• A farmer in Punjab has committed suicide outside the office of the Muktsar DC against kurki orders for his land based on a court case filed against him by the local moneylender for defaulting on loan payment.
• Kurki means attachment of a farmer’s land, already pledged to the money lending institution or individual, in case of a loan default.
• Apart from banks, private moneylenders, commission agents also get these decrees against farmers from time to time.
Incorrect
Correct Answer: D
Explanation
Kurki
• A farmer in Punjab has committed suicide outside the office of the Muktsar DC against kurki orders for his land based on a court case filed against him by the local moneylender for defaulting on loan payment.
• Kurki means attachment of a farmer’s land, already pledged to the money lending institution or individual, in case of a loan default.
• Apart from banks, private moneylenders, commission agents also get these decrees against farmers from time to time.
