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
With reference to the coal sector of India, consider the following statements:
- India has the largest coal reserves in the world.
- India is the third-largest producer of coal in the world.
- Electricity generation makes up three-fourths of India’s coal consumption.
Which of the above statements is/are correct?
Correct
Solution (c)
Coal in India has been mined since 1774 and is now the second fastest mined in the world, producing 716 million metric tons (789 million short tons) in 2018.
India is the second largest producer of coal in the world, after China.
India has the fourth-largest coal reserves in the world. It is the second-largest producer of coal in the world, after China.
Coal deposits are primarily found in eastern and south-central India.
Jharkhand, Odisha, Chhattisgarh, West Bengal, Madhya Pradesh, Telangana and Maharashtra accounted for 98.09% of the total known coal reserves in India.
Coal-fired power accounts for more than 70% of India’s electricity generation. Electricity generation makes up three-fourths of India’s coal consumption.
Article Link: Govt. tells utilities to ship in coal as demand surges
Incorrect
Solution (c)
Coal in India has been mined since 1774 and is now the second fastest mined in the world, producing 716 million metric tons (789 million short tons) in 2018.
India is the second largest producer of coal in the world, after China.
India has the fourth-largest coal reserves in the world. It is the second-largest producer of coal in the world, after China.
Coal deposits are primarily found in eastern and south-central India.
Jharkhand, Odisha, Chhattisgarh, West Bengal, Madhya Pradesh, Telangana and Maharashtra accounted for 98.09% of the total known coal reserves in India.
Coal-fired power accounts for more than 70% of India’s electricity generation. Electricity generation makes up three-fourths of India’s coal consumption.
Article Link: Govt. tells utilities to ship in coal as demand surges
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Question 2 of 5
2. Question
With reference to Special Drawing Rights (SDR), consider the following statements:
- SDRs are an artificial currency instrument created by the International Monetary Fund.
- Pound Sterling has the second highest weightage in the basket of major currencies of SDR after US Dollar.
Which of the above statements is/are correct?
Correct
Solution (a)
Special drawing rights (SDR) are an artificial currency instrument created by the International Monetary Fund, which uses them for internal accounting purposes.
The value of the SDR is calculated from a weighted basket of major currencies, including the U.S. dollar, the euro, Japanese yen, Chinese yuan, and British pound. U.S. Dollar has the highest weightage in the basket of major currencies of SDR followed by Euro, Chinese Yuan, Japanese Yen and Pound Sterling.
The SDR was formed with a vision of becoming a major element of international reserves, with gold and reserve currencies forming a minor incremental component of such reserves.
This consisted of central bank or government reserves of gold and globally accepted foreign currencies that could be used to buy the local currency in foreign exchange markets to maintain a stable exchange rate.
Article Link: IMF raises India’s special drawing rights allocation to $17.86 billion
Incorrect
Solution (a)
Special drawing rights (SDR) are an artificial currency instrument created by the International Monetary Fund, which uses them for internal accounting purposes.
The value of the SDR is calculated from a weighted basket of major currencies, including the U.S. dollar, the euro, Japanese yen, Chinese yuan, and British pound. U.S. Dollar has the highest weightage in the basket of major currencies of SDR followed by Euro, Chinese Yuan, Japanese Yen and Pound Sterling.
The SDR was formed with a vision of becoming a major element of international reserves, with gold and reserve currencies forming a minor incremental component of such reserves.
This consisted of central bank or government reserves of gold and globally accepted foreign currencies that could be used to buy the local currency in foreign exchange markets to maintain a stable exchange rate.
Article Link: IMF raises India’s special drawing rights allocation to $17.86 billion
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Question 3 of 5
3. Question
Consider the following statements:
- Gross value added (GVA) shows the production contribution of a particular sector.
- GDP of any nation represents the sum total of GVA in all the sectors of that economy during the said year after adjusting for taxes and subsidies.
Which of the above statements is/are correct?
Correct
Solution (c)
Gross value added (GVA) is defined as the value of output less the value of intermediate consumption. It is used to measure the output or contribution of a particular sector.
When such GVAs from all sectors are added together and adding taxes (product) and reducing subsidies (product), we can get the GDP (at market price).
GVA thus shows the production contribution of a particular sector.
When the value of taxes on products (less subsidies on products) is added to the gross value added, the sum of gross value added for all resident units gives the value of gross domestic product (GDP).
Thus, Gross Domestic Product (GDP) of any nation represents the sum total of gross value added (GVA) in all the sectors of that economy during the said year after adjusting for taxes and subsidies.
Article Link: Q1 growth rate 20.1%, real GDP still below pre-Covid level
Incorrect
Solution (c)
Gross value added (GVA) is defined as the value of output less the value of intermediate consumption. It is used to measure the output or contribution of a particular sector.
When such GVAs from all sectors are added together and adding taxes (product) and reducing subsidies (product), we can get the GDP (at market price).
GVA thus shows the production contribution of a particular sector.
When the value of taxes on products (less subsidies on products) is added to the gross value added, the sum of gross value added for all resident units gives the value of gross domestic product (GDP).
Thus, Gross Domestic Product (GDP) of any nation represents the sum total of gross value added (GVA) in all the sectors of that economy during the said year after adjusting for taxes and subsidies.
Article Link: Q1 growth rate 20.1%, real GDP still below pre-Covid level
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Question 4 of 5
4. Question
Resolution 2593 of the United Nations Security Council is related to:
Correct
Solution (b)
Resolution 2593 is an India led resolution adopted by the United Nations Security Council (UNSC). It reiterates the importance of combating terrorism in Afghanistan.
It called for the Taliban to facilitate safe passage for people wanting to leave Afghanistan, allow humanitarians to access the country, uphold human rights, including for women and children and inclusive and negotiated political settlement.
The resolution, sponsored by France, UK and the US, was adopted with 13 members, including India, voting in favour, none against it. But permanent and veto-wielding members Russia and China abstained.
The resolution also stressed the importance of maintaining humanitarian access, upholding human rights, reaching an inclusive political settlement and combating terrorism.
It did not, however, spell out any provision to punish the Taliban if they failed to allow such departures or follow the commitments.
Article Link: India in chair, UNSC adopts resolution on Taliban; Russia and China abstain
Incorrect
Solution (b)
Resolution 2593 is an India led resolution adopted by the United Nations Security Council (UNSC). It reiterates the importance of combating terrorism in Afghanistan.
It called for the Taliban to facilitate safe passage for people wanting to leave Afghanistan, allow humanitarians to access the country, uphold human rights, including for women and children and inclusive and negotiated political settlement.
The resolution, sponsored by France, UK and the US, was adopted with 13 members, including India, voting in favour, none against it. But permanent and veto-wielding members Russia and China abstained.
The resolution also stressed the importance of maintaining humanitarian access, upholding human rights, reaching an inclusive political settlement and combating terrorism.
It did not, however, spell out any provision to punish the Taliban if they failed to allow such departures or follow the commitments.
Article Link: India in chair, UNSC adopts resolution on Taliban; Russia and China abstain
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Question 5 of 5
5. Question
V-shaped economic recovery happens when:
Correct
Solution (a)
In a V-shaped recovery, the economy experiences a sharp decline but then bounces back almost immediately to its pre-recession level.
This can occur when the economic interruption that caused a recession doesn’t last long.
It could be a seasonal slowdown when consumers are temporarily out of work but employers are holding those jobs for them.
Article Link: Q1 growth rate 20.1%, real GDP still below pre-Covid level
Incorrect
Solution (a)
In a V-shaped recovery, the economy experiences a sharp decline but then bounces back almost immediately to its pre-recession level.
This can occur when the economic interruption that caused a recession doesn’t last long.
It could be a seasonal slowdown when consumers are temporarily out of work but employers are holding those jobs for them.
Article Link: Q1 growth rate 20.1%, real GDP still below pre-Covid level
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