06th February 2023 Current Affairs Quiz for UPSC Prelims
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Question 1 of 10
1. Question
2 points
Question The Prime Minister has officially inaugurated the country’s first liquid nano urea plant at Kalol, Gujarat. Consider the following statements regarding the Liquid Nano Urea:
1. It is essentially urea in the form of a nanoparticle.
2. It is sprayed directly on the leaves and gets absorbed by the plant.
3. It has a very short overnight shell life.
Which of the given statements is/are correct?
Correct
Solution Ans C
Explanation
Statements 1 and 2 are correct, 3 is not correct.
Liquid Nano Urea
• It is developed by Indian Farmers Fertilizer Cooperative (IFFCO)’s Nano Biotechnology Research Center (NBRC) at Kalol.
• It is essentially urea in the form of a nanoparticle. Urea is chemical nitrogen fertilizer, white in colour which artificially provides nitrogen, a major nutrient required by plants. Hence statement 1 is correct.
• It has been developed to reduce the burden of urea subsidy, reduce the unbalanced and indiscriminate use of conventional urea, increase crop productivity and reduce soil, water, and air pollution.
Advantages
• While conventional urea has an efficiency of about 25%, the efficiency of liquid nano urea can be as high as 85-90%.
• Liquid nano urea is sprayed directly on the leaves and gets absorbed by the plant. Hence statement 2 is correct.
• Liquid nano urea 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
Solution Ans C
Explanation
Statements 1 and 2 are correct, 3 is not correct.
Liquid Nano Urea
• It is developed by Indian Farmers Fertilizer Cooperative (IFFCO)’s Nano Biotechnology Research Center (NBRC) at Kalol.
• It is essentially urea in the form of a nanoparticle. Urea is chemical nitrogen fertilizer, white in colour which artificially provides nitrogen, a major nutrient required by plants. Hence statement 1 is correct.
• It has been developed to reduce the burden of urea subsidy, reduce the unbalanced and indiscriminate use of conventional urea, increase crop productivity and reduce soil, water, and air pollution.
Advantages
• While conventional urea has an efficiency of about 25%, the efficiency of liquid nano urea can be as high as 85-90%.
• Liquid nano urea is sprayed directly on the leaves and gets absorbed by the plant. Hence statement 2 is correct.
• Liquid nano urea 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 2 of 10
2. Question
2 points
Regarding tax and duties imposed on petrol and diesel, consider the following statements:
1. The Central government revise the retail prices of petrol and diesel in India on a daily basis.
2. The State taxes the production of petroleum products while the Centre tax their sale.
3. While excise duty rates are uniform across the country, states levy sales tax/ Value Added Tax (VAT) which varies across states.
Which of the given statements is/are not correct?
Correct
Solution Ans C
Explanation
Statements 1 and 2 are not correct, 3 is correct.
Fuel Pricing in India
• Public sector Oil Marketing Companies (OMCs) revise the retail prices of petrol and diesel in India on a daily basis, according to the changes in the price of crude oil at global level. Hence statement 1 is not correct.
• Price charged to dealers includes the base price set by OMCs and the freight price.
• Retail price of petrol and diesel are made up of mainly 3 components1. Base price (reflecting cost of international oil),
2. Central excise duty
3. State tax
• States apply an ad valorem VAT or sales tax on the base price, freight charges, excise duty and dealer commission on petrol and diesel.
• In fact, Central and state taxes form a major chunk of the price of petrol and diesel in India.
• Central government taxes the production of petroleum products (Excise Duty) while states tax their sale (Sales Tax/ Value Added Tax (VAT)). Hence statement 2 is not correct.
• While excise duty rates are uniform across the country, states levy sales tax/ VAT which varies across states. Hence statement 3 is correct.
Incorrect
Solution Ans C
Explanation
Statements 1 and 2 are not correct, 3 is correct.
Fuel Pricing in India
• Public sector Oil Marketing Companies (OMCs) revise the retail prices of petrol and diesel in India on a daily basis, according to the changes in the price of crude oil at global level. Hence statement 1 is not correct.
• Price charged to dealers includes the base price set by OMCs and the freight price.
• Retail price of petrol and diesel are made up of mainly 3 components1. Base price (reflecting cost of international oil),
2. Central excise duty
3. State tax
• States apply an ad valorem VAT or sales tax on the base price, freight charges, excise duty and dealer commission on petrol and diesel.
• In fact, Central and state taxes form a major chunk of the price of petrol and diesel in India.
• Central government taxes the production of petroleum products (Excise Duty) while states tax their sale (Sales Tax/ Value Added Tax (VAT)). Hence statement 2 is not correct.
• While excise duty rates are uniform across the country, states levy sales tax/ VAT which varies across states. Hence statement 3 is correct.
Question 3 of 10
3. Question
2 points
Consider the following statements regarding the Districts as Export Hubs Scheme:
1. It is a Centrally Sponsored Scheme of Ministry of Commerce and Industry.
2. It forms the part of new Foreign Trade Policy (FTP).
3. It aims to help producers in all districts of India to scale up manufacturing and find foreign buyers for their goods.
Which of the given statements is/are not correct?
Correct
Solution Ans C
Explanation
Statements 1 and 2 are correct, 3 is not correct.
Districts as Export Hubs Scheme
• It is a Centrally Sponsored Scheme of Ministry of Commerce and Industry.
• The Scheme will be part of the new Foreign Trade Policy (FTP).
• It aims to help producers across 200 districts scale up manufacturing and find foreign buyers for their goods.
• Implementing Body ➔ Directorate General of Foreign Trade (DGFT).
• Under the scheme, District Export Promotion Committees (DEPCs) have been constituted in most of the districts and products and services with export potential have been identified in each district.
Incorrect
Question 4 of 10
4. Question
2 points
The National Open Access Registry (NOAR) sometimes seen in news is related:
Correct
Solution Ans A
Explanation
Option A is correct. National Open Access Registry (NOAR)
• It is a centralized online platform through which short-term open access to the interstate transmission system is being managed in India.
• Launched by ➔ Ministry of Power
• National Load Despatch Centre (NLDC) is operated by Power System Operation Corporation Limited (POSOCO).
Incorrect
Solution Ans A
Explanation
Option A is correct. National Open Access Registry (NOAR)
• It is a centralized online platform through which short-term open access to the interstate transmission system is being managed in India.
• Launched by ➔ Ministry of Power
• National Load Despatch Centre (NLDC) is operated by Power System Operation Corporation Limited (POSOCO).
Question 5 of 10
5. Question
2 points
Consider the following statements regarding ‘Anchor Investors’:
1. They are high-profile institutional investors that are allotted shares before the subscription opens.
2. An anchor investor in an IPO is a qualified institutional buyer (QIB).
3. They make the IPO complicated and less attractive for investors.
Which of the given statements is/are correct?
Correct
Ans C
Explanation
Anchor Investors
• Anchor investors are high-profile institutional investors that are allotted shares before the subscription opens for retail and other investors and have to commit to holding their shares for a certain period after listing. Hence statement 1 is correct.
• An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company which invests before the IPO is made available to public as per SEBI regulations. Hence statement 2 is correct.
• As initial investors, they make the IPO process more attractive for investors, and instil confidence in them. Hence statement 3 is NOT correct.
• Anchor investors also aid in price discovery of the IPO.
• Anchor investors who get guaranteed allotment a day before the IPO opens to the public are normally allocated 60% of the QIB quota
Incorrect
Ans C
Explanation
Anchor Investors
• Anchor investors are high-profile institutional investors that are allotted shares before the subscription opens for retail and other investors and have to commit to holding their shares for a certain period after listing. Hence statement 1 is correct.
• An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company which invests before the IPO is made available to public as per SEBI regulations. Hence statement 2 is correct.
• As initial investors, they make the IPO process more attractive for investors, and instil confidence in them. Hence statement 3 is NOT correct.
• Anchor investors also aid in price discovery of the IPO.
• Anchor investors who get guaranteed allotment a day before the IPO opens to the public are normally allocated 60% of the QIB quota
Question 6 of 10
6. Question
2 points
The PM MITRA Parks Scheme is related to which of the statements sector?
Correct
Solution Ans B
Explanation
PM MITRA Parks Scheme
• The PM Mega Integrated Textile Regions and Apparel Park (PM MITRA) Parks Scheme is implemented by the Ministry of Textiles.
• The PM MITRA Parks are aimed at helping India to achieve the UN Sustainable Development Goal 9: “Build resilient infrastructure, promote sustainable industrialization and foster innovation”.
• The PM MITRA scheme is Inspired by the 5F vision of Prime Minister – Farm to Fibre to Factory to Fashion to Foreign.
• A park will be developed by a Special Purpose Vehicle which will be owned by the Central and State Government and in a Public Private Partnership (PPP) Mode.
Incorrect
Solution Ans B
Explanation
PM MITRA Parks Scheme
• The PM Mega Integrated Textile Regions and Apparel Park (PM MITRA) Parks Scheme is implemented by the Ministry of Textiles.
• The PM MITRA Parks are aimed at helping India to achieve the UN Sustainable Development Goal 9: “Build resilient infrastructure, promote sustainable industrialization and foster innovation”.
• The PM MITRA scheme is Inspired by the 5F vision of Prime Minister – Farm to Fibre to Factory to Fashion to Foreign.
• A park will be developed by a Special Purpose Vehicle which will be owned by the Central and State Government and in a Public Private Partnership (PPP) Mode.
Question 7 of 10
7. Question
2 points
The International Monetary Fund (IMF) has recently lifted the Chinese currency Yuan’s weighting in the Special Drawing Rights (SDR) currency basket. In this regard, consider the following statements:
1. The SDR is an interest-bearing international reserve asset created by the IMF to supplement other reserve assets of member countries.
2. It is based on a basket of international currencies comprising the USD, Japanese yen, euro, pound sterling and Chinese Renminbi.
3. It is a sort of currency of the IMF.
4. The value of the SDR is market determined.
Which of the given statements is/are correct
Correct
Solution Ans B
Explanation
Statements 1 and 2 are correct, 3 and 4 are not correct.
Special Drawing Rights (SDR)
• The SDR is an interest-bearing international reserve asset created by the IMF in 1969 to supplement other reserve assets of member countries. Hence statement 1 is correct.
• It is based on a basket of international currencies comprising the US dollar, Japanese yen, euro, pound sterling and Chinese Renminbi. Hence statement 2 is correct.
• It is not a currency, nor a claim on the IMF, but is potentially a claim on freely usable currencies of IMF members. Hence statement 3 is not correct.
• The value of the SDR is set daily by the IMF. Hence statement 4 is not correct.
Incorrect
Solution Ans B
Explanation
Statements 1 and 2 are correct, 3 and 4 are not correct.
Special Drawing Rights (SDR)
• The SDR is an interest-bearing international reserve asset created by the IMF in 1969 to supplement other reserve assets of member countries. Hence statement 1 is correct.
• It is based on a basket of international currencies comprising the US dollar, Japanese yen, euro, pound sterling and Chinese Renminbi. Hence statement 2 is correct.
• It is not a currency, nor a claim on the IMF, but is potentially a claim on freely usable currencies of IMF members. Hence statement 3 is not correct.
• The value of the SDR is set daily by the IMF. Hence statement 4 is not correct.
Question 8 of 10
8. Question
2 points
The “Fostering Effective Energy Transition” Report is released by the:
Correct
Ans D
Explanation
Fostering Effective Energy Transition Report
• It is an annual country benchmarking report by the World Economic Forum (WEF).
• The report builds on the trends from the Energy Transition Index to provide recommendations on how to navigate the transition through a turbulent macroeconomic and geopolitical environment.
Incorrect
Ans D
Explanation
Fostering Effective Energy Transition Report
• It is an annual country benchmarking report by the World Economic Forum (WEF).
• The report builds on the trends from the Energy Transition Index to provide recommendations on how to navigate the transition through a turbulent macroeconomic and geopolitical environment.
Question 9 of 10
9. Question
2 points
India has reached a landmark figure of 100 Unicorn startups with a valuation of more than $300 billion. Consider the following statements regarding the Unicorns:
1. The Unicorns are privately held, venture-capital backed startups that have reached a value of $100 billion.
2. The valuation of unicorns is fully linked to their current financial performance.
Which of the given statements is/are correct?
Correct
Ans D
Explanation
Both statements are not correct.
Unicorn Startups
• The Unicorns are privately held, venture-capital backed startups that have reached a value of $1 billion.
• The valuation of unicorns is not expressly linked to their current financial performance.
• But the valuation is largely based on their growth potential as perceived by investors and venture capitalists who have taken part in various funding rounds.
• It was used to emphasise the rarity of the emergence of such startups.
Incorrect
Ans D
Explanation
Both statements are not correct.
Unicorn Startups
• The Unicorns are privately held, venture-capital backed startups that have reached a value of $1 billion.
• The valuation of unicorns is not expressly linked to their current financial performance.
• But the valuation is largely based on their growth potential as perceived by investors and venture capitalists who have taken part in various funding rounds.
• It was used to emphasise the rarity of the emergence of such startups.
Question 10 of 10
10. Question
2 points
50% of rural households in India have now been covered under the Jal Jeevan Mission.
Which of the given statements regarding the Jal Jeevan Mission is/are correct?
1. It was launched in 2015.
2. It envisages supply of 55 litres of water per person per day to every rural household through Functional Household Tap Connections (FHTC) by 2024.
3. It is 100% sponsored by the Centre as envisaged by the Prime Minister.
Which of the given statements is/are correct?
Correct
Ans A
Explanation
Only statement 2 is correct.
Jal Jeevan Mission
• Launched in 2019, it envisages supply of 55 litres of water per person per day to every rural household through Functional Household Tap Connections (FHTC) by 2024. Hence statement 1 is not correct and 2 is correct.
• JJM looks to create a jan andolan for water, thereby making it everyone’s priority.
• It comes under Jal Shakti Ministry.
• The fund sharing pattern between the Centre and states is 90:10 for Himalayan and NorthEastern States, 50:50 for other states, and 100% for Union Territories. Hence statement 3 is not correct.
Incorrect
Ans A
Explanation
Only statement 2 is correct.
Jal Jeevan Mission
• Launched in 2019, it envisages supply of 55 litres of water per person per day to every rural household through Functional Household Tap Connections (FHTC) by 2024. Hence statement 1 is not correct and 2 is correct.
• JJM looks to create a jan andolan for water, thereby making it everyone’s priority.
• It comes under Jal Shakti Ministry.
• The fund sharing pattern between the Centre and states is 90:10 for Himalayan and NorthEastern States, 50:50 for other states, and 100% for Union Territories. Hence statement 3 is not correct.