Current Affairs 02 September 2023

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Current Affairs Quiz: 02 September 2023

September 02, 2023 Current Affairs MCQs

Specially Designed for UPSC-related exams, and State Level Group-1 & Group-2 Exams

Also Useful for SSC-CGL, SSC CHSL, SSC MTS, CDS, RRB, and all other Competitive Exams

1Q) Match the following correctly.

(1) Polyethylene - Plastic bags and bottles

(2) Polypropene - water pipes and insulation on electricity cables

(3) Poly(chloroethene) - Crates and ropes

(A) 1 Only

(B) 2 and 3 Only

(C) 3 Only

(D) 1, 2, and 3

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⇨ The primary uses of polyethylene are in garbage bags, packaging film, insulation for wires and cables, grocery bags, agricultural mulch, bottles, toys, and houseware.

⇨ The primary uses of polypropylene are in ropes, twine, tape, carpets, upholstery, clothing and camping equipment. Its waterproof properties make it especially effective for the marine sector.

⇨ Poly(chloroethene) is used to make guttering, water pipes, plastic windows, electrical cable insulation, sheet materials for flooring and other uses, footwear, and clothing. You may have come across this under the brand names of Teflon or Fluon.

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The Hindu   Click Here

2Q) Under the Kisan Credit Card scheme, short-term credit support is given to farmers for which of the following purposes?

(1) Working capital for maintenance of farm assets

(2) Purchase of combine harvesters, tractors, and mini trucks

(3) Consumption requirements of farm households

(4) Post-harvest expenses

(5) Construction of family house and setting up of village cold storage facility

(A) 1, 2 and 3 only

(B) 1, 3 and 4 only

(C) 2, 3, 4 and 5 only

(D) 1, 2, 3, 4 and 5

Show/Hide The Explanation of Answer

⇨ The Kisan Credit Card (KCC) Scheme:

⇨ Introduction:

⇨ The Kisan Credit Card (KCC) scheme was introduced in 1998 for issue of Kisan Credit Cards to farmers on the basis of their holdings for uniform adoption by the banks so that farmers may use them to readily purchase agriculture inputs such as seeds, fertilizers, pesticides etc. and draw cash for their production needs.

⇨ The scheme was further extended for the investment credit requirement of farmers viz. allied and non-farm activities in the year 2004.

⇨ The scheme was further revisited in 2012 by a Working Group under the Chairmanship of Shri T. M. Bhasin, CMD, Indian Bank with a view to simplify the scheme and facilitate the issue of Electronic Kisan Credit Cards.

⇨ The Kisan Credit Card Scheme is to be implemented by Commercial Banks, RRBs, Small Finance Banks, and Cooperatives.

⇨ Objective / Purpose :

⇨ The Kisan Credit Card scheme aims at providing adequate and timely credit support from the banking system under a single window with flexible and simplified procedure to the farmers for their cultivation and other needs as indicated below:

⇨ (1) To meet the short-term credit requirements for the cultivation of crops;

⇨ (2) Post-harvest expenses;

⇨ (3) Produce marketing loan;

⇨ (4) Consumption requirements of farmer households;

⇨ (5) Working capital for maintenance of farm assets and activities allied to agriculture;

⇨ (6) Investment credit requirement for agriculture and allied activities.

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RBI   Click Here

3Q) In India under cyber insurance for individuals, which of the following benefits are generally covered, in addition to payment for the loss of funds and other benefits?

(1) Cost of restoration of the computer system in case of malware disrupting access to one’s computer

(2) Cost of a new computer if some miscreant wilfully damages it, if proved so

(3) Cost of hiring a specialized consultant to minimize the loss in case of cyber extortion

(4) Cost of defense in the Court of Law if any third party files a suit

(A) 1, 2 and 4 only

(B) 1, 3 and 4 only

(C) 2 and 3 only

(D) 1, 2, 3 and 4

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⇨ Benefits of cyber insurance:

⇨ Cost of restoration of the computer system in case of malware disrupting access to one’s computer.

⇨ Cost of hiring a specialized consultant to minimize the loss in case of cyber extortion.

⇨ Cost of defense in the Court of Law if any third party files a suit.

⇨ The cost of a new computer if some miscreant wilful damages it, is not covered under insurance.

⇨ The Insurance Regulatory and Development Authority of India (IRDAI) is keen on evolving a basic Standard Cyber Liability Insurance product.

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Economic Times   Click Here

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4Q) Skill India Mission was launched in which of the following year?

(A) 2014

(B) 2015

(C) 2016

(D) 2018

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⇨ The Skill India Mission was launched by the Prime Minister on 15 July 2015 to train over 30 crore people in India in different skills by 2022.

⇨ More than one crore youth join the Skill India mission annually.

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5Q) Among the following countries, which one is the largest exporter of rice in the world?

(A) China

(B) India

(C) Myanmar

(D) Vietnam

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⇨ India is the largest rice exporter globally with a 45% share in the world rice market.

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6Q) Which one of the following statements appropriately describes the “fiscal stimulus”?

(A) It is a massive investment by the Government in the manufacturing sector to ensure the supply of goods to meet the demand surge caused by rapid economic growth

(B) It is an intense affirmative action of the Government to boost economic activity in the country

(C) It is the Government’s intensive action on financial institutions to ensure the disbursement of loans to agriculture and allied sectors to promote greater food production and contain food inflation

(D) It is an extreme affirmative action by the Government to pursue its policy of financial inclusion

Show/Hide The Explanation of Answer

⇨ An increase in government spending or a reduction in the level of taxation to encourage and support economic growth is called fiscal stimulus.

⇨ It is a key tool in macroeconomic policy that governments employ during economic downturns or recessions to stimulate growth, create jobs, and stabilize the economy.

⇨ Components of Fiscal Stimulus:

⇨ Government Spending Increase:

⇨ One of the primary methods of fiscal stimulus is an increase in government spending on various programs and projects. This can include infrastructure development, healthcare, education, and social welfare programs. The idea is to inject money into the economy, creating jobs and increasing demand for goods and services.

⇨ Tax Cuts:

⇨ Another component of fiscal stimulus involves reducing taxes, especially for individuals and businesses. Lower taxes can encourage consumers to spend more and businesses to invest, which can stimulate economic growth.

⇨ Objectives of Fiscal Stimulus:

⇨ Counter-Cyclical Effect:

⇨ Fiscal stimulus aims to counteract the natural economic cycle. During a recession, consumer spending typically decreases, and businesses may cut back on investments and hiring. By injecting funds into the economy during these periods, the government can help stabilize the economy.

⇨ Job Creation:

⇨ By increasing government spending on infrastructure projects or other initiatives, fiscal stimulus can directly create jobs. This not only reduces unemployment but also increases consumer spending power.

⇨ Boost Consumer and Business Confidence:

⇨ Fiscal stimulus measures can boost consumer and business confidence in the economy's future prospects. When people feel more secure in their financial situations, they are more likely to spend, and businesses are more inclined to invest.

⇨ Prevent Deflation:

⇨ During severe economic downturns, prices may fall (deflation), which can lead to decreased consumer spending and further economic decline. Fiscal stimulus helps prevent deflationary spirals by increasing demand and encouraging price stability.

⇨ Fiscal Stimulus vs. Monetary Policy:

⇨ It's essential to differentiate fiscal stimulus from monetary policy. While fiscal stimulus involves government spending and taxation policies, monetary policy is controlled by the central bank and involves adjusting interest rates and managing the money supply. Fiscal stimulus is typically used for broader economic goals, while monetary policy primarily aims to control inflation and stabilize financial markets.

⇨ Examples of Fiscal Stimulus:

⇨ Jan Dhan Yojana: The Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched in 2014 as a financial inclusion program. It aimed to provide financial services to the unbanked and underbanked population. The government offered incentives like zero-balance bank accounts, accident insurance, and overdraft facilities to encourage people to open bank accounts and access formal financial services. This fiscal stimulus measure aimed to increase financial inclusion and promote savings and investment.

⇨ Merchandise Export from India Scheme (MEIS): The MEIS was a government scheme that provided exporters with incentives in the form of duty credit scrips. These scrips could be used to offset various duties, taxes, and levies, making Indian exports more competitive in the global market. This fiscal stimulus measure aimed to boost exports and generate foreign exchange earnings.

⇨ National Infrastructure Investment Fund (NIIF): The NIIF was established by the Indian government to attract investment in infrastructure projects. It acted as a fund of funds and aimed to mobilize private and foreign investments in critical infrastructure sectors. This fiscal stimulus measure helped in financing and accelerating infrastructure development in the country.

⇨ Direct Tax Rebates and Exemptions: The government has periodically offered tax rebates and exemptions to individuals and businesses to stimulate economic activity. For instance, tax rebates for affordable housing loans, deductions for investments in specified sectors like startups, and tax incentives for electric vehicle manufacturing are examples of fiscal stimulus measures designed to promote specific industries and activities.

⇨ Production-Linked Incentive (PLI) Scheme: The PLI scheme was introduced to encourage domestic manufacturing in various sectors, including electronics, pharmaceuticals, and automobiles. Under this scheme, eligible companies receive financial incentives based on their incremental production. This fiscal stimulus measure aimed to boost manufacturing, create jobs, and enhance India's competitiveness in global markets.

⇨ PM-KISAN (Pradhan Mantri Kisan Samman Nidhi): This income support scheme provides direct cash transfers to small and marginal farmers. The government provides financial assistance in three installments each year to eligible farmers. PM-KISAN is a fiscal stimulus measure to enhance the income of rural farmers and increase their purchasing power.

⇨ Atmanirbhar Bharat Rozgar Yojana: Introduced as part of the Atmanirbhar Bharat Abhiyan, this scheme provides incentives to employers for creating new jobs or hiring employees who lost their jobs during the COVID-19 pandemic. The government subsidizes employee provident fund (EPF) contributions for eligible workers and employers, thereby reducing the cost of hiring. This fiscal stimulus measure aimed to address the employment challenges posed by the pandemic.

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7Q) Which of the following are examples of Man-made disasters?

(1) Industrial Accidents

(2) Nuclear Accidents

(3) Infrastructure Failures

(4) Terrorist Attacks

(A) 1 and 2 Only

(B) 2 and 3 Only

(C) 1, 2, and 3 Only

(D) 1, 2, 3, and 4

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⇨ Man-made disasters are events or situations that result from human actions or negligence and cause significant harm to people, property, and the environment.

⇨ These disasters can be intentional or unintentional. Here are a few examples of man-made disasters.

⇨ Industrial Accidents:

⇨ These occur due to accidents or mishaps in industrial facilities. For instance, the Bhopal Gas Tragedy in 1984, where a toxic gas leak at the Union Carbide plant in Bhopal, India, resulted in thousands of deaths and long-term health problems.

⇨ Nuclear Accidents:

⇨ Events like the Chernobyl disaster in 1986 in Ukraine and the Fukushima Daiichi nuclear disaster in 2011 in Japan were the results of human errors in nuclear power plants. These accidents released radioactive materials and had severe consequences for human health and the environment.

⇨ Oil Spills:

⇨ Man-made disasters like oil spills can occur due to oil tanker accidents or equipment failures in offshore drilling. The Exxon Valdez oil spill in 1989 in Alaska is an example, where millions of gallons of oil were spilled into Prince William Sound, causing extensive environmental damage.

⇨ Terrorist Attacks:

⇨ Acts of terrorism, such as bombings, hijackings, and cyberattacks, are man-made disasters. The 9/11 terrorist attacks in the United States in 2001 and the Mumbai terror attacks in 2008 are examples of how these events can result in significant loss of life and property damage.

⇨ Civil Unrest and Riots:

⇨ Social and political conflicts can lead to man-made disasters when they escalate into large-scale violence and unrest. For example, the 2002 Gujarat riots in India resulted in extensive property damage and loss of life.

⇨ Infrastructure Failures:

⇨ Man-made disasters can also result from the failure of critical infrastructure, such as bridges, dams, and buildings. The collapse of the Morandi Bridge in Genoa, Italy, in 2018 is an instance where infrastructure failure led to loss of lives and disruption.

⇨ Environmental Pollution:

⇨ Prolonged pollution of air, water, and soil due to industrial activities, improper waste disposal, and other human actions can have long-term health and environmental consequences. The ongoing issue of air pollution in cities like Delhi, India, is an example.

⇨ Human-Made Forest Fires:

⇨ Forest fires that are intentionally or unintentionally started by humans, such as through arson or careless campfires, can lead to large-scale destruction. The wildfires in California, USA, are often exacerbated by human activities.

⇨ Chemical Spills:

⇨ Chemical spills occur when hazardous substances are accidentally or intentionally released into the environment. These spills can contaminate soil, water bodies, and air, posing risks to human health and ecosystems. An example is the 2010 Deepwater Horizon oil spill in the Gulf of Mexico, one of the largest environmental disasters in history, resulting from the explosion of an offshore drilling rig. The Vishakhapatnam gas leak in May 2020 was a chemical disaster that occurred when a styrene gas leak from a chemical plant owned by LG Polymers India in Andhra Pradesh resulted in multiple fatalities and injuries. The leak affected nearby communities and raised concerns about chemical safety in industrial areas.

⇨ Hazardous Material Spills:

⇨ These involve the release of hazardous materials, such as toxic chemicals or radioactive substances, often during transportation accidents. An example is the 1986 Sandoz chemical spill in Switzerland, where a fire in a chemical warehouse led to the release of toxic substances into the Rhine River, causing environmental damage. The Bhopal Gas Tragedy in 1984 is one of the most infamous hazardous material spills in India's history. It involved the release of toxic methyl isocyanate gas from a Union Carbide pesticide plant, causing thousands of deaths and long-term health issues in Bhopal.

⇨ Explosives:

⇨ Explosive disasters can occur due to accidents in munitions depots, illegal fireworks manufacturing, or terrorist attacks involving explosives. The Oklahoma City bombing in 1995 is a notable example, where a truck bomb was detonated outside a federal building, causing extensive damage and casualties. The 1993 Bombay bombings were a series of coordinated explosions in Mumbai (formerly Bombay) that targeted several prominent locations, including the Bombay Stock Exchange. These explosions were carried out by terrorist organizations and resulted in numerous casualties.

⇨ Chemical or Biological Attacks:

⇨ These are deliberate acts involving the use of chemical or biological agents to harm civilians or military personnel. The Tokyo subway sarin gas attack in 1995 by the Aum Shinrikyo cult is an example of a chemical attack that resulted in fatalities and injuries.

⇨ Nuclear Blasts:

⇨ Nuclear explosions can occur due to military conflicts or nuclear testing. The bombings of Hiroshima and Nagasaki during World War II are well-known examples of nuclear blasts that caused immediate devastation and long-term health effects.

⇨ Groundwater Poisoning:

⇨ Groundwater poisoning occurs when pollutants, such as industrial chemicals or agricultural runoff, seep into underground water sources, contaminating them. A notable example is the contamination of groundwater with Per- and polyfluoroalkyl substances (PFAS) in various locations worldwide, leading to health concerns and environmental cleanup efforts. Groundwater contamination due to industrial pollution is a concern in several parts of India. For instance, the Perungudi landfill site in Chennai has been associated with groundwater pollution due to improper waste disposal practices.

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8Q) Oncologist R. Ravi Kannan is one of the Ramon Magsaysay Award winners for 2023. In this context which of the following statements is correct?

(1) The Ramon Magsaysay Award is often referred to as the "Asian Nobel Prize."

(2) It was established in 1957 in memory of the former President of Indonesia, Ramon Magsaysay.

(3) Some notable Indian awardees include social activists like Arvind Kejriwal, Kiran Bedi, and Bezwada Wilson.

(A) 1 and 2 Only

(B) 2 and 3 Only

(C) 1 and 3 Only

(D) 1, 2, and 3

Show/Hide The Explanation of Answer

⇨ Important points about the Ramon Magsaysay Award:

⇨ Origin and Background:

⇨ The Ramon Magsaysay Award is often referred to as the "Asian Nobel Prize."

⇨ It was established in 1957 in memory of the former President of the Philippines, Ramon Magsaysay.

⇨ Ramon Magsaysay was known for his dedication to social justice, democracy, and good governance. He was a beloved leader who championed the rights of the common people and fought against corruption.

⇨ Awards Categories:

⇨ The Ramon Magsaysay Award is presented annually to individuals and organizations in Asia who have made outstanding contributions to their respective fields and have significantly impacted the lives of people.

⇨ The award recognizes achievements in various categories, including government service, public service, community leadership, journalism, literature and creative communication, peace, and international understanding.

⇨ Each category can have multiple awardees in a given year.

⇨ This award is given in 6 categories.

⇨ These categories are:

⇨ 1) Government Services (GS)

⇨ 2) Public services (PS)

⇨ 3) Community leadership(CL)

⇨ 4) Journalism, literature & creative communication arts (JLCCA)

⇨ 5) Peace and International Understanding (PIU)

⇨ 6) Emergent leadership (EL)

⇨ Criteria and Selection:

⇨ The award recipients are chosen through a rigorous selection process that includes nominations, research, and evaluation by a board of trustees and various experts.

⇨ The selection committee looks for individuals and organizations that have demonstrated exceptional courage, leadership, and commitment to improving the quality of life in their communities or in Asia as a whole.

⇨ Impact and Significance:

⇨ The Ramon Magsaysay Award is highly regarded in Asia and is seen as a symbol of excellence and selfless service to society.

⇨ Awardees often receive recognition for their work and are encouraged to continue their efforts to bring about positive change.

⇨ The award aims to inspire others to make a difference in their communities and across the continent.

⇨ Notable Indian Awardees:

⇨ Many Indians have received the Ramon Magsaysay Award for their remarkable contributions.

⇨ Some notable Indian awardees include social activists like Arvind Kejriwal, Kiran Bedi, and Bezwada Wilson, as well as environmentalist Rajendra Singh, journalists P. Sainath, and Ravish Kumar, and child rights advocate Shanta Sinha.

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9Q) Which of the following UNESCO Cultural World Heritage Sites matched correctly?

(1) Dholavira - Assam

(2) Rani-Ki-Vav - Gujarat

(3) The Jantar Mantar - Rajasthan

(4) Elephanta Caves - Madhya Pradesh

(A) 1 and 2 Only

(B) 2 and 3 Only

(C) 1, 2, and 3 Only

(D) 1, 2, 3, and 4

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⇨ Dholavira - Gujarat

⇨ Rani-Ki-Vav - Gujarat

⇨ The Jantar Mantar - Rajasthan

⇨ Elephanta Caves - Maharashtra

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Down to Earth   Click Here

10Q) The government has exempted the 15 percent AIDC cess on imports of LPG, liquified propane, and liquified butane starting from September 1. In this context, the Agriculture Infrastructure Development Cess (AIDC) was introduced during which of the following budget?

(A) 2019-20

(B) 2020-21

(C) 2021-22

(D) 2022-23

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⇨ Important points about Agriculture Infrastructure and Development Cess (AIDC):

⇨ Agriculture Infrastructure and Development Cess (AIDC) was introduced in the Union Budget 2021-22.

⇨ Cess is a kind of special-purpose tax that is levied over and above basic tax rates.

⇨ The purpose of the new AIDC is to raise funds to finance spending on developing agriculture infrastructure.

⇨ The new cess will be levied on 29 products, prominent among which are gold, silver, imported apple, imported alcohol (excluding beer), imported pulses, imported palm oil, imported urea, and petrol/diesel including branded ones.

⇨ Drawing power from Articles 270 and 271 of the Constitution, the Centre collects cess and deposits it in the Consolidated Fund of India.

⇨ However, the money is then supposed to be transferred to a segregated fund to be used for a specific purpose.

⇨ The AIDC is proposed to be used to improve agricultural infrastructure aimed at not only boosting production but also in helping conserve and process farm output efficiently.

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