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DAY 117
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Question 1 of 10
1. Question
2 pointsConsider the following statements about MGNREGA
1. The Central Government specified the features and conditions for guaranteed employment in Mahatma Gandhi NREGA 2005.
2. The State Governments have to incorporate all features of Mahatma Gandhi NREGA in the State Mahatma Gandhi NREGS as mentioned in Schedule –I and condition of employment as mentioned in Schedule-II of Mahatma Gandhi NREGA.
Which of the above statements are true?Correct
MGNREGA guarantees hundred days of wage employment in a financial year, to a rural household whose adult members volunteer to do unskilled manual work. Individual beneficiary oriented works can be taken up on the cards of Scheduled Castes and Scheduled Tribes, small or marginal farmers or beneficiaries of land reforms or beneficiaries under the Indira Awaas Yojana of the Government of India. The Gram Sabha is the principal forum for wage seekers to raise their voices and make demands. It is the Gram Sabha and the Gram Panchayat which approves the shelf of works under MGNREGA and fixes their priority.
Incorrect
MGNREGA guarantees hundred days of wage employment in a financial year, to a rural household whose adult members volunteer to do unskilled manual work. Individual beneficiary oriented works can be taken up on the cards of Scheduled Castes and Scheduled Tribes, small or marginal farmers or beneficiaries of land reforms or beneficiaries under the Indira Awaas Yojana of the Government of India. The Gram Sabha is the principal forum for wage seekers to raise their voices and make demands. It is the Gram Sabha and the Gram Panchayat which approves the shelf of works under MGNREGA and fixes their priority.
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Question 2 of 10
2. Question
2 pointsWhich of the following are reasons for India being one of the highest importers of crude oil in the world?
1.Increasing electricity demand also increases dependence on crude oil.
2. Oil exploration in India remains below potential.
3. Increasing number of private vehicles.
Choose the correct answer using the codes given belowCorrect
India’s economic growth is closely related to energy demand; therefore the need for oil and gas is projected to grow more. The country’s oil consumption grew from 184.7 million tonnes in 2015-16 to 194.6 million tonnes in the following year and 206.2 million tonnes in the year thereafter. In 2018-19, demand grew by 2.6 per cent to 211.6 million tonnes. In contrast, domestic output continues to fall. India’s crude oil output fell from 36.9 million tonnes in 2015-16 to 36 million tonnes in 2016-17. The trend of negative growth continued in the following years as well as output fell to 35.7 million tonnes in 2017-18 and to 34.2 million tonnes in the fiscal year that ended on March 31, 2019.
Crude oil and natural gas are the second and third largest sources of electricity generated in India, after coal. Crude oil accounted for 10.34% and natural gas accounted for 8.7% of the total electricity produced in 2017-18.Incorrect
India’s economic growth is closely related to energy demand; therefore the need for oil and gas is projected to grow more. The country’s oil consumption grew from 184.7 million tonnes in 2015-16 to 194.6 million tonnes in the following year and 206.2 million tonnes in the year thereafter. In 2018-19, demand grew by 2.6 per cent to 211.6 million tonnes. In contrast, domestic output continues to fall. India’s crude oil output fell from 36.9 million tonnes in 2015-16 to 36 million tonnes in 2016-17. The trend of negative growth continued in the following years as well as output fell to 35.7 million tonnes in 2017-18 and to 34.2 million tonnes in the fiscal year that ended on March 31, 2019.
Crude oil and natural gas are the second and third largest sources of electricity generated in India, after coal. Crude oil accounted for 10.34% and natural gas accounted for 8.7% of the total electricity produced in 2017-18. -
Question 3 of 10
3. Question
2 pointsConsider the following statements about GDP in PPP terms
1. According to this concept, two currencies are in equilibrium—known as the currencies being at par—when a basket of goods is priced the same in both countries, taking into account the exchange rates.
2. India has 5th largest GDP in the world, expressed in PPP terms.
Which of the above statements are true?Correct
India is 3rd largest GDP expressed in PPP terms, ahead of Japan and Germany. And China has the largest GDP expressed in PPP terms. India has 5th largest nominal GDP whereas US has the largest nominal GDP, followed by China, Japan and Germany.
Incorrect
India is 3rd largest GDP expressed in PPP terms, ahead of Japan and Germany. And China has the largest GDP expressed in PPP terms. India has 5th largest nominal GDP whereas US has the largest nominal GDP, followed by China, Japan and Germany.
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Question 4 of 10
4. Question
2 pointsConsider the following statements about twin deficit
1. Twin deficit refers to the scenario where the balance sheets of both public sector banks and corporate houses are in terrible shape.
2. With low profits, the corporates are not able to repay their loans. It has affected the banks’ balance sheets and hence their ability to lend more to the corporates, thus creating a cycle.
Which of the above statements are true?Correct
Twin balance sheet problem refers to the scenario where balance sheets of banks and corporates are affected. A twin deficit occurs when a nation has both a current account deficit and a fiscal deficit. This means the country’s economy is importing more than it is exporting, and the country’s government is spending more money than it is generating.(The current account is an account on the balance of payments. The current account records a nation’s net imports and exports.)
Incorrect
Twin balance sheet problem refers to the scenario where balance sheets of banks and corporates are affected. A twin deficit occurs when a nation has both a current account deficit and a fiscal deficit. This means the country’s economy is importing more than it is exporting, and the country’s government is spending more money than it is generating.(The current account is an account on the balance of payments. The current account records a nation’s net imports and exports.)
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Question 5 of 10
5. Question
2 pointsMatch the following space mission with their objectives
- ICESat-2
1. It is the first mission to the Pluto System and the Kuiper belt. It completed the flyby of the Kuiper Belt object nicknamed Ultima Thule and set the record for the most distant object ever visited by a spacecraft. - VISIONS-2
2. It is a joint mission between ESA and the Japan Aerospace Exploration Agency (JAXA). The mission comprises two spacecraft: the Mercury Planetary Orbiter (MPO) and the Mercury Magnetospheric Orbiter (MMO). - BepiColombo Mission
3. It is a sounding rocket mission to get a closer look at how the Earth’s atmosphere is slowly leaking into space. The aurora borealis is of keen interest to the VISIONS-2 team. - New Horizons probe
4. It is the benchmark Earth Observing System mission for measuring ice sheet mass balance, cloud and aerosol heights, as well as land topography and vegetation characteristics. Choose the correct answer using the codes given below
Correct
Incorrect
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Question 6 of 10
6. Question
2 pointsConsider the following statements about Hyperspectral imaging
1.It combines the power of digital imaging and spectroscopy to attain both spatial and spectral information from an object.
2.Hyperspectral imaging uses broader bands compared to multispectral imaging.
3.ISRO’s PSLV C43 launched India’s first Hyperspectral Imaging Satellite (HysIS).
Which of the above statements are true?Correct
The main difference between multispectral and hyperspectral is the number of bands and how narrow the bands are. Hyperspectral imaging uses continuous and contiguous ranges of wavelengths and consists of much narrower bands. Hyperspectral remote sensing is used for a range of applications like agriculture, forestry, soil survey, geology, coastal zones, inland water studies, environmental studies, detection of pollution from industries and the military for surveillance or anti-terror operations. This technology is accompanied with high cost and complexity. There is a need for fast processing of data (fast computers), sensitive detectors and large data storage capacities for hyperspectral data.
Incorrect
The main difference between multispectral and hyperspectral is the number of bands and how narrow the bands are. Hyperspectral imaging uses continuous and contiguous ranges of wavelengths and consists of much narrower bands. Hyperspectral remote sensing is used for a range of applications like agriculture, forestry, soil survey, geology, coastal zones, inland water studies, environmental studies, detection of pollution from industries and the military for surveillance or anti-terror operations. This technology is accompanied with high cost and complexity. There is a need for fast processing of data (fast computers), sensitive detectors and large data storage capacities for hyperspectral data.
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Question 7 of 10
7. Question
2 pointsWhich of the following statements are true about Protection of Plant Varieties and Farmers’ Rights (PPV&FR) Act?
1. India as a signatory to World Trade Organization in 1994, was obliged under Trade-Related Aspects of Intellectual Property Rights (TRIPS), either to adopt a sui generis system for plant variety protection or join the Convention of the International Union for the Protection of New Varieties of Plants (UPOV).
2. While the IPR legislation grants intellectual property rights to plant breeders, it doesn’t extend similar benefits to farmers.
3. It aims to accelerate agricultural development in the country, protect plant breeders’ rights; stimulate investment for research and development both in the public & private sector for the development of new plant varieties.
Choose the correct answer using the codes given belowCorrect
The Act is the world’s only IPR legislation which grants intellectual property rights not only to the plant breeders but also to the farmers by protecting new, extant and farmers’ varieties. It aims to recognize and protect the rights of farmers in respect of their contributions made at any time in conserving, improving and making available plant genetic resources for the development of new plant varieties.Protection of Plant Varieties and Farmers’ Rights Authority (PPV&FR Authority) facilitates registration of new plant varieties and maintenance of the National Register of Plant Varieties for registration of new plant varieties, essentially derived varieties (EDV) and extant varieties.
Incorrect
The Act is the world’s only IPR legislation which grants intellectual property rights not only to the plant breeders but also to the farmers by protecting new, extant and farmers’ varieties. It aims to recognize and protect the rights of farmers in respect of their contributions made at any time in conserving, improving and making available plant genetic resources for the development of new plant varieties.Protection of Plant Varieties and Farmers’ Rights Authority (PPV&FR Authority) facilitates registration of new plant varieties and maintenance of the National Register of Plant Varieties for registration of new plant varieties, essentially derived varieties (EDV) and extant varieties.
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Question 8 of 10
8. Question
2 pointsConsider the following statements about medical rules in India
1. To give a fillip to the medical device sector, a National Medical Devices Promotion Council is set up under the Department of Industrial Policy and Promotion (DIPP).
2. National Pharmaceutical Pricing Authority is an independent body under the Ministry of Health & Family Welfare.
3. Central Drugs Standard Control Organization is the national regulatory body for Indian pharmaceuticals & medical devices under the Department of Pharmaceuticals under Ministry of Chemicals and Fertilizers.
Which of the above statements are true?Correct
National Pharmaceutical Pricing Authority is an independent body under Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers. Its functions are: To fix/revise the controlled bulk drugs prices and formulations; To enforce prices and availability of the medicines under the Drugs (Prices Control) Order; To monitor the prices of decontrolled drugs in order to keep them at reasonable levels. Central Drugs Standard Control Organization is the national regulatory body for Indian pharmaceuticals & medical devices under the Ministry of Health & Family Welfare. National Medical Devices Promotion Council will be headed by Secretary, DIPP. Apart from the concerned departments of the Government of India, it will also have representatives from the healthcare industry and quality control institutions. It will identify redundant processes and render technical assistance to the agencies and departments concerned to simplify the approval processes involved in the medical device industry.
Incorrect
National Pharmaceutical Pricing Authority is an independent body under Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers. Its functions are: To fix/revise the controlled bulk drugs prices and formulations; To enforce prices and availability of the medicines under the Drugs (Prices Control) Order; To monitor the prices of decontrolled drugs in order to keep them at reasonable levels. Central Drugs Standard Control Organization is the national regulatory body for Indian pharmaceuticals & medical devices under the Ministry of Health & Family Welfare. National Medical Devices Promotion Council will be headed by Secretary, DIPP. Apart from the concerned departments of the Government of India, it will also have representatives from the healthcare industry and quality control institutions. It will identify redundant processes and render technical assistance to the agencies and departments concerned to simplify the approval processes involved in the medical device industry.
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Question 9 of 10
9. Question
2 pointsConsider the following statements regarding duties/taxes imposed on export products
1. At present, GST taxes and import/customs duties on inputs required to manufacture exported products are imposed.
2. Scheme for Remission of Duties and Taxes on Exported Products(RoDTEP) would enable reimbursement of not only GST and custom duties, but also other duties/levies outside GST, such as VAT on fuel used, Madi tax, Duty on electricity.
Which of the above statements are true?Correct
At present, GST taxes and import/customs duties for inputs required to manufacture exported products are either exempted or refunded. However, certain taxes/duties/levies are outside GST, and are not refunded for exports, such as, VAT on fuel used in transportation, Mandi tax, Duty on electricity used during manufacturing etc. These would be covered for reimbursement under the RoDTEP Scheme. This would lead to cost competitiveness of exported products in international markets and better employment opportunities in export oriented manufacturing industries.
Incorrect
At present, GST taxes and import/customs duties for inputs required to manufacture exported products are either exempted or refunded. However, certain taxes/duties/levies are outside GST, and are not refunded for exports, such as, VAT on fuel used in transportation, Mandi tax, Duty on electricity used during manufacturing etc. These would be covered for reimbursement under the RoDTEP Scheme. This would lead to cost competitiveness of exported products in international markets and better employment opportunities in export oriented manufacturing industries.
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Question 10 of 10
10. Question
2 pointsWhich of the following statements are true regarding funding of startups under Startup India initiative?
1. There is no provision under Startup India initiative for sanctioning of funds to startups directly. However, the Government of India has established a Fund of Funds for Startups(FFS) with a corpus of Rs.10,000 crores.
2. DPIIT is the monitoring agency and Small Industries Development Bank of India (SIDBI) is the operating agency for FFS.
Choose the correct answer using the codes given belowCorrect
Fund of Funds does not directly invest into startups but provides capital to SEBI-registered Alternate Investment Funds (AIFs), known as daughter funds, who in turn invest money in growing Indian startups through equity and equity-linked instruments. The initiative also provides legal support(self certification on web portal), IPR protection (fast tracking of patent applications), tax exemptions(IT exemption for 3 years) and credit guarantee.
Incorrect
Fund of Funds does not directly invest into startups but provides capital to SEBI-registered Alternate Investment Funds (AIFs), known as daughter funds, who in turn invest money in growing Indian startups through equity and equity-linked instruments. The initiative also provides legal support(self certification on web portal), IPR protection (fast tracking of patent applications), tax exemptions(IT exemption for 3 years) and credit guarantee.
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