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 with respect to World Inequality Report (WIR):
- The latest WIR flags India as a poor and very unequal country
- Middle East is the region with the least amount of inequality
- WIR is released every year by the International Monetary Fund
Which of the statements given above is/are correct?
Correct
Solution (a)
The World Inequality Lab, a research centre at the Paris School of Economics, released the 2022 World Inequality Report (WIR)
Its main finding is that the gap between the rich and the poor in terms of share of national income is quite large, and growing rapidly as a result of government policies that favour the affluent elite.
The latest World Inequality Report flags India as a poor and very unequal country, with the top 10% holding 57% of national income in 2021, and the bottom 50% holding just 13%.
While Europe was the region with the least amount of inequality (the income share of the top 10% was 36%), inequality was highest in the MENA (Middle East and North Africa (MENA) region, where the share of the top 10% was 58%.
The report has found India to be one of the world’s most unequal countries, with the top 1% getting 21.7% of the national income.
Wealth inequality in India is even worse than income inequality.
While all governments regularly release economic numbers, such as the Gross Domestic Product (GDP) and growth rate, these do not tell us how growth is distributed across the population – which sections are gaining, and which ones losing. The WIR studies different kinds of financial data to find out how a country’s (and the world’s) income and wealth are distributed.
Article Link:
https://www.thehindu.com/news/international/global-and-indian-trends-in-inequality/article37910844.ece
Incorrect
Solution (a)
The World Inequality Lab, a research centre at the Paris School of Economics, released the 2022 World Inequality Report (WIR)
Its main finding is that the gap between the rich and the poor in terms of share of national income is quite large, and growing rapidly as a result of government policies that favour the affluent elite.
The latest World Inequality Report flags India as a poor and very unequal country, with the top 10% holding 57% of national income in 2021, and the bottom 50% holding just 13%.
While Europe was the region with the least amount of inequality (the income share of the top 10% was 36%), inequality was highest in the MENA (Middle East and North Africa (MENA) region, where the share of the top 10% was 58%.
The report has found India to be one of the world’s most unequal countries, with the top 1% getting 21.7% of the national income.
Wealth inequality in India is even worse than income inequality.
While all governments regularly release economic numbers, such as the Gross Domestic Product (GDP) and growth rate, these do not tell us how growth is distributed across the population – which sections are gaining, and which ones losing. The WIR studies different kinds of financial data to find out how a country’s (and the world’s) income and wealth are distributed.
Article Link:
https://www.thehindu.com/news/international/global-and-indian-trends-in-inequality/article37910844.ece
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Question 2 of 5
2. Question
Which of the following statements is/are not correct regarding Green tobacco sickness (GTS)?
- GTS is a type of nicotine poisoning that occurs while handling tobacco plants.
- Tobacco harvesters, whose clothing become saturated from tobacco wet with rain or morning dew, are at high risk of developing GTS
Select the correct answer using the code given below:
Correct
Solution (d)
The tobacco epidemic is one of the biggest public health threats the world has ever faced, killing more than 8 million people a year around the world. More than 7 million of those deaths are the result of direct tobacco use while around 1.2 million are the result of non-smokers being exposed to second-hand smoke
Green tobacco sickness (GTS) is a type of nicotine poisoning that occurs while handling tobacco plants. Workers are at especially high risk for developing this illness when their clothing becomes saturated from tobacco that is wet from rain or morning dew, or perspiration. Symptoms of GTS include nausea, vomiting, dizziness, and headaches. Workers have also noted difficulty sleeping or eating. Symptoms of GTS may be similar to those of heat illness and pesticide poisoning, which can make it difficult to diagnose.
Article Link:
Incorrect
Solution (d)
The tobacco epidemic is one of the biggest public health threats the world has ever faced, killing more than 8 million people a year around the world. More than 7 million of those deaths are the result of direct tobacco use while around 1.2 million are the result of non-smokers being exposed to second-hand smoke
Green tobacco sickness (GTS) is a type of nicotine poisoning that occurs while handling tobacco plants. Workers are at especially high risk for developing this illness when their clothing becomes saturated from tobacco that is wet from rain or morning dew, or perspiration. Symptoms of GTS include nausea, vomiting, dizziness, and headaches. Workers have also noted difficulty sleeping or eating. Symptoms of GTS may be similar to those of heat illness and pesticide poisoning, which can make it difficult to diagnose.
Article Link:
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Question 3 of 5
3. Question
Which of the following statements is/are correct regarding Pradhan Mantri Ujjwala Yojana (PMUY)?
- It is a scheme of the Ministry of Petroleum & Natural Gas
- Under this scheme the LPG connections will be given to either men or women from BPL households.
- All PMUY beneficiaries will be provided with first LPG refill and Stove both free of cost
Select the correct answer using the code given below:
Correct
Solution (a)
High LPG prices are scorching the air pollution fight
Solid fuel use for cooking is the leading contributor to air pollution and related premature deaths in India, estimated to be around over 600,000 every year, as per the Global Burden of Disease Study 2019.
As per the India Residential Energy Survey (IRES) 2020, conducted by the Council on Energy, Environment and Water (CEEW) and the Initiative for Sustainable Energy Policy, LPG has now replaced biomass as the most common cooking fuel in India. Nearly 85% of Indian homes have an LPG connection and 71% use it as their primary cooking fuel, compared to only 30% a decade back.
Pradhan Mantri Ujjwala Yojana is a scheme of the Ministry of Petroleum & Natural Gas for providing LPG connections to women from Below Poverty Line (BPL) households.
The scheme was launched in Ballia, Uttar Pradesh.
The target under the scheme was to release 8 Crore LPG Connections to the deprived households by March 2020.
All PMUY beneficiaries will be provided with first LPG refill and Stove (hotplate) both free of cost
A woman of the BPL household, which does not have access to LPG connection, may apply for a new LPG connection to the LPG distributor.
Article Link:
https://www.thehindu.com/opinion/op-ed/high-lpg-prices-are-scorching-the-air-pollution-fight/article37904630.ece
Incorrect
Solution (a)
High LPG prices are scorching the air pollution fight
Solid fuel use for cooking is the leading contributor to air pollution and related premature deaths in India, estimated to be around over 600,000 every year, as per the Global Burden of Disease Study 2019.
As per the India Residential Energy Survey (IRES) 2020, conducted by the Council on Energy, Environment and Water (CEEW) and the Initiative for Sustainable Energy Policy, LPG has now replaced biomass as the most common cooking fuel in India. Nearly 85% of Indian homes have an LPG connection and 71% use it as their primary cooking fuel, compared to only 30% a decade back.
Pradhan Mantri Ujjwala Yojana is a scheme of the Ministry of Petroleum & Natural Gas for providing LPG connections to women from Below Poverty Line (BPL) households.
The scheme was launched in Ballia, Uttar Pradesh.
The target under the scheme was to release 8 Crore LPG Connections to the deprived households by March 2020.
All PMUY beneficiaries will be provided with first LPG refill and Stove (hotplate) both free of cost
A woman of the BPL household, which does not have access to LPG connection, may apply for a new LPG connection to the LPG distributor.
Article Link:
https://www.thehindu.com/opinion/op-ed/high-lpg-prices-are-scorching-the-air-pollution-fight/article37904630.ece
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Question 4 of 5
4. Question
Singareni is a village located in which of the following Indian state?
Correct
Solution (a)
Singareni is a village located in Khammam district, Telangana, India. Coal reserves in Telangana were found first in Singareni. There is a railway line from Singareni that meets the Manuguru-Dornakal railway at Karepalli junction.
Singareni Collieries Company Limited (SCCL) workers are on strike to protest against the Central government’s decision to auction four coal blocks for commercial mining.
The Singareni Collieries Company Limited or SCCL is a government-owned-coal mining corporation in India. It is under the ownership of Ministry of Energy, Government of Telangana. The Union Government’s administration of the company is through the 49% ownership held by Ministry of Coal. SCCL is currently operating 45 mines where 20 opencast and 25 underground mines in 6 districts of Telangana
Article Link:
https://www.newindianexpress.com/states/telangana/2021/dec/11/mines-wear-a-deserted-look-as-strike-continues-2394184.html
Incorrect
Solution (a)
Singareni is a village located in Khammam district, Telangana, India. Coal reserves in Telangana were found first in Singareni. There is a railway line from Singareni that meets the Manuguru-Dornakal railway at Karepalli junction.
Singareni Collieries Company Limited (SCCL) workers are on strike to protest against the Central government’s decision to auction four coal blocks for commercial mining.
The Singareni Collieries Company Limited or SCCL is a government-owned-coal mining corporation in India. It is under the ownership of Ministry of Energy, Government of Telangana. The Union Government’s administration of the company is through the 49% ownership held by Ministry of Coal. SCCL is currently operating 45 mines where 20 opencast and 25 underground mines in 6 districts of Telangana
Article Link:
https://www.newindianexpress.com/states/telangana/2021/dec/11/mines-wear-a-deserted-look-as-strike-continues-2394184.html
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Question 5 of 5
5. Question
Consider the following statements with respect to Algo trading:
- It is a computer assisted buying and selling of stocks
- Mobile trading is a form of Algo trading
- Every Algo trading strategy and programme should be approved by the SEBI before they are deployed by traders
Which of the statements given above is/are correct?
Correct
Solution (d)
Algorithmic trading or Algo trading is computer assisted buying and selling of stocks. It is also known as automated or programmed trading since pre-programmed computer strategies execute buy and sell trades depending on set parameters, instructions or market pattern and conditions.
The key purpose of algo trading is speed of order execution.
Mobile trading is also a form of algo trading, where orders are executed via apps. Order execution without human intervention is an advanced form of algo trading.
Around 50 per cent of the daily trading volume in Indian stock markets is through an advanced form of algo trading where computer programmes execute trade orders based on pre-defined strategies.
Why is SEBI trying to regulate Algo Trading?
SEBI and stock exchanges regulate and monitor broker terminals, but the algo programmes deployed by traders did not require any exchange approvals so far as there were no rules. But SEBI now believes that unregulated/unapproved algos pose a risk to the market and can be misused for systematic market manipulation as well to lure retail investors by guaranteeing them higher returns.
SEBI wants every algo trading strategy and programme to be approved by the exchanges before they are deployed by traders.
The algo trading system automatically monitors the live stock prices and initiates an order when the given criteria are met. This frees the trader from having to monitor live stock prices and initiate manual order placement.
Article Link:
https://www.thehindubusinessline.com/blexplainer/why-is-sebi-seeking-to-regulate-algo-trading/article37942656.ece
Incorrect
Solution (d)
Algorithmic trading or Algo trading is computer assisted buying and selling of stocks. It is also known as automated or programmed trading since pre-programmed computer strategies execute buy and sell trades depending on set parameters, instructions or market pattern and conditions.
The key purpose of algo trading is speed of order execution.
Mobile trading is also a form of algo trading, where orders are executed via apps. Order execution without human intervention is an advanced form of algo trading.
Around 50 per cent of the daily trading volume in Indian stock markets is through an advanced form of algo trading where computer programmes execute trade orders based on pre-defined strategies.
Why is SEBI trying to regulate Algo Trading?
SEBI and stock exchanges regulate and monitor broker terminals, but the algo programmes deployed by traders did not require any exchange approvals so far as there were no rules. But SEBI now believes that unregulated/unapproved algos pose a risk to the market and can be misused for systematic market manipulation as well to lure retail investors by guaranteeing them higher returns.
SEBI wants every algo trading strategy and programme to be approved by the exchanges before they are deployed by traders.
The algo trading system automatically monitors the live stock prices and initiates an order when the given criteria are met. This frees the trader from having to monitor live stock prices and initiate manual order placement.
Article Link:
https://www.thehindubusinessline.com/blexplainer/why-is-sebi-seeking-to-regulate-algo-trading/article37942656.ece
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