IASbaba Daily Prelims Quiz
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The Current Affairs questions are based on sources like ‘The Hindu’, ‘Indian Express’ and ‘PIB’, which are very important sources for UPSC Prelims Exam. The questions are focused on both the concepts and facts. The topics covered here are generally different from what is being covered under ‘Daily Current Affairs/Daily News Analysis (DNA) and Daily Static Quiz’ to avoid duplication. The questions would be published from Monday to Saturday before 2 PM. One should not spend more than 10 minutes on this initiative.
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Question 1 of 5
1. Question
Consider the following statements:
- National Statistical Office is formed by merging National Sample Survey Office (NSSO) with the Central Statistics Office (CSO)
- National Statistical Office publishes Index of industrial production.
Which of the above statements is/are correct?
Correct
Solution (c)
- The National Sample Survey Office (NSSO) with the Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation (MoSPI) is merged to form an overarching body National Statistical Office (NSO) through the merger of the NSSO and the CSO.
- The order states that the proposed NSO would be headed by Secretary (Statistics and Programme Implementation), but skips any mention of National Statistical Commission (NSC), which has been the overseeing body for all the statistical work done in the country.
Index of Industrial production
- The Index of Industrial Production (IIP) is an indicator that measures the changes in the volume of production of industrial products during a given period.
- It is compiled and published monthly by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation.
- IIP is a composite indicator that measures the growth rate of industry groups classified under:
- Broad sectors, namely, Mining, Manufacturing, and Electricity.
- Use-based sectors, namely Basic Goods, Capital Goods, and Intermediate Goods.
- Base Year for IIP is 2011-2012.
Incorrect
Solution (c)
- The National Sample Survey Office (NSSO) with the Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation (MoSPI) is merged to form an overarching body National Statistical Office (NSO) through the merger of the NSSO and the CSO.
- The order states that the proposed NSO would be headed by Secretary (Statistics and Programme Implementation), but skips any mention of National Statistical Commission (NSC), which has been the overseeing body for all the statistical work done in the country.
Index of Industrial production
- The Index of Industrial Production (IIP) is an indicator that measures the changes in the volume of production of industrial products during a given period.
- It is compiled and published monthly by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation.
- IIP is a composite indicator that measures the growth rate of industry groups classified under:
- Broad sectors, namely, Mining, Manufacturing, and Electricity.
- Use-based sectors, namely Basic Goods, Capital Goods, and Intermediate Goods.
- Base Year for IIP is 2011-2012.
-
Question 2 of 5
2. Question
What are bad banks?
Correct
Solution (a)
A Bad Bank is an Asset Reconstruction Company (ARC).
- Once it is formed, banks divide their assets into two categories (a) one with non-performing assets and other risky liabilities and (b) others with healthy assets, which help banks grow financially.
- ARC or Bad Bank buys bad loans from the commercial banks at a discount and tries to recover the money from the defaulter by providing a systematic solution over a period of time.
- The bad bank will manage these Non-Performing Assets in suitable ways, some may be liquidated, others may be restructured, etc.
- RBI, too, came up with a suggestion to form two entities to clean up the bad loan problems ailing public sector banks-PAMC (Private Asset Management Company) and NAMC (National Assets Management Company).
- PAMC would be formed by roping in banks and global funding companies.
- This would invest in areas where there’s a short-term economic viability.
- NAMC would be formed with government support, which would invest in bad assets with short-term stress but good chances of turnaround and economic benefit.
Incorrect
Solution (a)
A Bad Bank is an Asset Reconstruction Company (ARC).
- Once it is formed, banks divide their assets into two categories (a) one with non-performing assets and other risky liabilities and (b) others with healthy assets, which help banks grow financially.
- ARC or Bad Bank buys bad loans from the commercial banks at a discount and tries to recover the money from the defaulter by providing a systematic solution over a period of time.
- The bad bank will manage these Non-Performing Assets in suitable ways, some may be liquidated, others may be restructured, etc.
- RBI, too, came up with a suggestion to form two entities to clean up the bad loan problems ailing public sector banks-PAMC (Private Asset Management Company) and NAMC (National Assets Management Company).
- PAMC would be formed by roping in banks and global funding companies.
- This would invest in areas where there’s a short-term economic viability.
- NAMC would be formed with government support, which would invest in bad assets with short-term stress but good chances of turnaround and economic benefit.
-
Question 3 of 5
3. Question
Which of the following is not among the eight core sector industries?
Correct
Solution (d)
The eight core sector industries include coal, crude oil, natural gas, refinery products, fertiliser, steel, cement, and electricity.
- These comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
- The eight core Industries in decreasing order of their weightage: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers.
Industry :: Weight (In percentage)
- Petroleum & Refinery production :: 28.04
- Electricity generation :: 19.85
- Steel production :: 17.92
- Coal production :: 10.33
- Crude Oil production :: 8.98
- Natural Gas production :: 6.88
- Cement production :: 5.37
- Fertilizers production :: 2.63
Incorrect
Solution (d)
The eight core sector industries include coal, crude oil, natural gas, refinery products, fertiliser, steel, cement, and electricity.
- These comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).
- The eight core Industries in decreasing order of their weightage: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers.
Industry :: Weight (In percentage)
- Petroleum & Refinery production :: 28.04
- Electricity generation :: 19.85
- Steel production :: 17.92
- Coal production :: 10.33
- Crude Oil production :: 8.98
- Natural Gas production :: 6.88
- Cement production :: 5.37
- Fertilizers production :: 2.63
-
Question 4 of 5
4. Question
Consider the following statements:
- African baobab is the oldest Known Angiosperm Tree
- Baobabs are deciduous dwarf trees with 3-9 feet height
Which of the above statements is/are incorrect?
Correct
Solution (b)
Explanation:
- Baobabs are deciduous trees ranging in height from 5 to 20 meters. Deciduous forest is a vegetation composed primarily of broad-leaved trees that shed all their leaves during one season.
- The African baobab (Adansonia digitata) is one of the nine species of baobab and is native to mainland Africa. They are also found in African Savannah here the ecosystem is a tropical grassland with warm temperatures year-round and with its highest seasonal rainfall in the summer.
- It is characterized by grasses and small or dispersed trees that do not form a closed canopy, allowing sunlight to reach the ground.
- Carbon-14 dating places the age of a specimen of African baobab in Namibia at about 1,275 years which is the oldest Known Angiosperm Tree.
Incorrect
Solution (b)
Explanation:
- Baobabs are deciduous trees ranging in height from 5 to 20 meters. Deciduous forest is a vegetation composed primarily of broad-leaved trees that shed all their leaves during one season.
- The African baobab (Adansonia digitata) is one of the nine species of baobab and is native to mainland Africa. They are also found in African Savannah here the ecosystem is a tropical grassland with warm temperatures year-round and with its highest seasonal rainfall in the summer.
- It is characterized by grasses and small or dispersed trees that do not form a closed canopy, allowing sunlight to reach the ground.
- Carbon-14 dating places the age of a specimen of African baobab in Namibia at about 1,275 years which is the oldest Known Angiosperm Tree.
-
Question 5 of 5
5. Question
Onam one of the major harvesting festival of which of the following state?
Correct
Solution (b)
About Onam:
- Onam is a major harvest festival in Kerala and is celebrated to honour the home-coming of Asura king Mahabali who brought about peace and prosperity in Kerala.
- It is one of the three major festivals of Kerala, celebrated during the month of Chingam, the first month in the Malayalam calendar, Kollavarsham.
- The other two major festivals of the state are Vishu and Thiruvathira.
- The 10-day harvest festival begins on Atham (first day of Onam) and concludes on Thiruvonam (last day).
- The main attraction is the traditional Onam sadhya (grand feast).
Incorrect
Solution (b)
About Onam:
- Onam is a major harvest festival in Kerala and is celebrated to honour the home-coming of Asura king Mahabali who brought about peace and prosperity in Kerala.
- It is one of the three major festivals of Kerala, celebrated during the month of Chingam, the first month in the Malayalam calendar, Kollavarsham.
- The other two major festivals of the state are Vishu and Thiruvathira.
- The 10-day harvest festival begins on Atham (first day of Onam) and concludes on Thiruvonam (last day).
- The main attraction is the traditional Onam sadhya (grand feast).
