01 September 2022: Daily Current Affairs & GK for HAS/HPAS & Allied Services
1. Priority Sector Lending by banks in India constitutes the lending to
a)
Agriculture
b) Micro and
small enterprises
c) Weaker
sections
d) All of
the above
Answer:
(D)
EXPLANATION: Priority Sector refers to those sectors of the economy which may not get timely and adequate credit. Priority Sector Lending is an important role given by the Reserve Bank of India (RBI) to the banks for providing a specified portion of the bank lending to few specific sectors. As per the RBI there are eight broad categories of the Priority Sector Lending.
They are: (1)
Agriculture (2) Micro, Small and Medium Enterprises (3) Export Credit (4)
Education (5) Housing (6) Social Infrastructure (7) Renewable Energy (8) The
others category includes personal loans to weaker section, loans to distressed
persons, loans to state sponsored organisations for SC/ST.
2. A
decrease in tax to GDP ratio of a country indicates which of the following?
1. Slowing
economic growth rate
2. Less
equitable distribution of national income
Select the
correct answer using the code given below.
a) 1 only
b) 2 only
c) Both 1
and 2
d) Neither 1
nor 2
Answer:
(C)
EXPLANATION:
The tax-to-GDP ratio is a ratio of a nation's tax revenue relative to its
gross domestic product (GDP), or the market value of goods and services a
country produces.
- Statement 1 is correct: Taxes and GDP are generally related. The higher the GDP, the more tax a nation collects. Conversely, countries with lower taxes produce a lower GDP.
- Statement 2 is correct: A low tax to GDP ratio indicates lower economic development and less equitable distribution of wealth. The tax-to-GDP ratio is an economic measurement that compares the amount of taxes collected by a government to the amount of income that country receives for its products.
3.
Consider the following sectors of Index of Industrial Production (IIP) under
the used based classification
1. Primary
goods
2. Consumer
durable goods
3. Capital
goods
4.
Intermediate goods
The correct
sequence of these in decreasing order of weightage is
a) 1-4-2-3
b) 3-1-2-4
c) 2-1-3-4
d) 1-2-3-4
Answer:
(A)
EXPLANATION:
Use-based classification of industries under Index of Industrial
Production:
- Besides the industry-wise indices/growth rates, the users also require the indices regarding different use-based categories, i.e., basic goods, capital goods, intermediate goods, consumer durables, and consumer nondurables.
- Weights of the different sectors under the used-based classification–2011-12 series
4.
Consider the following statements:
1. The UN
High Seas Treaty is concerned with the ocean existing beyond the Exclusive
Economic Zones.
2. The
warming of the ocean due to climate change has led to a rise in the sea level
due to thermal expansion.
Select the
correct answer using the code given below.
a) 1 only
b) 2 only
c) Both 1
and 2
d) Neither 1
nor 2
Answer:
(C)
EXPLANATION:
- Statement 1 is correct: The UN High Seas Treaty concerns with the ocean existing beyond the Exclusive Economic Zones. Exclusive Economic Zones lie from the coast of a country to about 200 nautical miles or 370 km into the sea, till where the country has special rights for exploration. S
- Statement 2 is correct: There are many effects of warming of ocean due to climate change. The effects are – sea level rise due to thermal expansion, coral bleaching, accelerated melting of Earth’s major ice sheets, intensified hurricanes, and changes in ocean health and biochemistry.
5. How
does National Biodiversity Authority (NBA) help in protecting the Indian
agriculture?
1. NBA
checks the biopiracy and protects the indigenous and traditional genetic
resources.
2. NBA
directly monitors and supervises the scientific research on genetic
modification of crop plants.
3. Applicati0on
for Intellectual Property Rights related to genetic/biological resources cannot
be made without the approval of NBA.
Which of the
statements given above is/are correct?
a) 1 only
b) 2 and 3
only
c) 1 and 3
only
d) 1, 2 and
3
Answer:
(C)
EXPLANATION:
National Biodiversity is a statutory body which was established under Biological Diversity Act (2002)
Its major
Functions are
- Statement 1 is correct: To conservation, use of biological resources and associated knowledge occurring in India for commercial or research purposes or for the purposes of bio-survey and bioutilisation. It provides a framework for access to biological resources and sharing the benefits arising out of such access and use. Therefore, NBA checks the biopiracy and protects the indigenous and traditional genetic resources.
- Statement 3 is correct: The Act also includes in its ambit the transfer of research results and application for intellectual property rights (IPRs) relating to Indian biological resources.
- Statement 2 is not correct: monitors and supervises the scientific research on genetic modification of crop plants is done by Genetic Engineering Appraisal Committee (GEAC).
6. With
reference to Non-Fungible Token (NFT), consider the following statements:
1. It cannot
be exchanged with anything
2. It gives
the owners Intellectual Property to monetize.
3. It is a
cryptographic token
Which of the
statements given above is/are correct?
a) 1 and 2
only
b) 2 only
c) 1 and 3
only
d) 1, 2 and
3
Answer:
(D)
EXPLANATION:
- Non-fungible tokens (NFTs) are digital assets or works that cannot be exchanged with anything. They are cryptographic tokens that exist on a blockchain and cannot be replicated.
- NFT enables digital content creators and owners of intellectual property rights (IPR0 to monetize their work or assets without a middle man and can earn royalty every time the NFT is resold.
7.
Artemis mission to the moon, recently seen in the news, is an initiative of
which of the following space agencies:
a) Roscosmos
b) NASA
c) JAXA
d) SpaceX
Answer:
(B)
EXPLANATION:
Artemis mission is an uncrewed lunar mission by NASA.
- Its purpose is to explore moon and collect information allowing mission controllers to assess the performance of the spacecraft
- Space Launch System (SLS) rocket is the launch vehicle for the Artemis mission.
8.
Consider the following statements about the Non-Proliferation of Nuclear Weapons
Treaty (NPT):
1. It is
established under the aegis of the International Atomic Energy Agency (IAEA).
2. India is
a signatory of NPT along with the Five nuclear weapon states.
Which of the
following statements given above is/are correct?
a) 1 only
b) 2 only
c) Both 1
and 2
d) Neither 1
nor 2
Answer: (A)
EXPLANATION:
Non- The proliferation of Nuclear Weapons Treaty (NPT) is an international
treaty that established a safeguards system under the responsibility of the
International Atomic Energy Agency (IAEA).
- Purpose of NPT is to prevent the spread of nuclear weapons and weapons technology. So far, 191 nations have joined the Treaty, including the five nuclear-weapon nations. India didn’t sign this treaty.
9. In ‘freebies’ or overly generous poll promises by political parties/ candidates,
which of the following statement(s) is/are incorrect?
1. Supreme
Court, in its judgment of the S Subramaniam Balaji case (2013), barred the promise
of ‘freebies’.
2. Freebies
are not explicitly mentioned as a type of bribe or corrupt practice under the
Representation of Peoples Act, 1951.
Select the
correct option using the code given below:
a) 1 only
b) 2 only
c) Both 1
and 2
d) Neither 1
nor 2
Answer: (A)
EXPLANATION:
- In the S Subramaniam Balaji case (2013) judgment, a Division Bench of the Supreme Court held that making promises in election manifestos do not amount to a ‘corrupt practice’ under Section 123 of the Representation of People Act (RPA), 1951.
- This section of RPA 1951 includes “Bribery”, that is, any gift, offer or promise by a candidate or his agent or by any other person with the consent of a candidate or his election agent of any gratification, to any person as an electoral corrupt practice for which an election candidate is liable to be disqualified.
- But freebies are not explicitly mentioned as a type of bribe or prohibited in RPA, 1951.
10. With
reference to security issues, which of the following statement(s) is/are
correct regarding ‘Zorawar’ recently in news?
1. It is an
indigenously developed light tank.
2. It is
developed primarily to operate in low altitude areas even below sea level.
Select the
correct option using the code given below:
a) 1 only
b) 2 only
c) Both 1
and 2
d) Neither 1
nor 2
Answer: (A)
EXPLANATION:
- Zorawar is an indigenously developed light tank meant for operation primarily in high altitude areas.
- Indian Army is going to deploy them in Eastern Ladakh to counter the movement of Chinese forces along LAC.
