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 ‘Press Council of India’
- It is a statutory organization operating under the Press Council Act of 1978
- The Council shall have the same powers throughout India as are vested in a civil court while trying a suit under the Code of Civil Procedure
- The Chairman of the Council is nominated by the Chief Justice of India
Choose the correct answer using the code given below
Correct
Solution(a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Incorrect The Press Council of India (PCI) is a statutory organization operating under the Press Council Act of 1978. It was formed in 1966. It is the self-regulatory watchdog of the press. For the purpose of performing its functions or holding any inquiry under this Act, the Council shall have the same powers throughout India as are vested in a civil court while trying a suit under the Code of Civil Procedure, 1908 Under the original Act, the Chairman was nominated by the Chief Justice of India. But, after this amendment, nomination of the Chairman was also left to the Nominating Committee. Context – Justice Ranjana Prakash Desai has been selected for the post of the Chairperson of Press Council of India (PCI).
Incorrect
Solution(a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Incorrect The Press Council of India (PCI) is a statutory organization operating under the Press Council Act of 1978. It was formed in 1966. It is the self-regulatory watchdog of the press. For the purpose of performing its functions or holding any inquiry under this Act, the Council shall have the same powers throughout India as are vested in a civil court while trying a suit under the Code of Civil Procedure, 1908 Under the original Act, the Chairman was nominated by the Chief Justice of India. But, after this amendment, nomination of the Chairman was also left to the Nominating Committee. Context – Justice Ranjana Prakash Desai has been selected for the post of the Chairperson of Press Council of India (PCI).
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Question 2 of 5
2. Question
With reference to ‘Cost Inflation Index’, consider the following statements
- It is an index that is used to calculate the inflation-adjusted rise in the value of an asset including debt mutual funds
- It is notified by the Reserve Bank of India based on inputs from National Statistics Office
- The CII value can also be used to calculate Long Term Capital Gain (LTCG) on equity mutual funds
Choose the correct answer using the code given below
Correct
Solution(d)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Incorrect Incorrect The CII is an index that is used to compute the inflation-adjusted rise in the value of an asset including land, buildings, houses, gold jewellery, debt mutual funds, and so on. The index is notified by the Central Board of Direct Taxes CII number will assist you determine the long-term capital gains on which you are required to pay taxes when you file your income tax returns (ITR) next year. This number will be used to calculate inflation-adjusted cost for only those assets that allow for inflation-adjusted (indexation benefit). As a result, the CII value cannot be used to calculate LTCG/LTCL on equity mutual funds because any sum above Rs 1 lakh each fiscal year is taxed at a flat rate of 10% without the advantage of indexation. Context – The Central Board of Direct Taxes (CBDT) notified the cost inflation index (CII) for FY 2022-23 via a notification dated June 14, 2022.
Incorrect
Solution(d)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Incorrect Incorrect The CII is an index that is used to compute the inflation-adjusted rise in the value of an asset including land, buildings, houses, gold jewellery, debt mutual funds, and so on. The index is notified by the Central Board of Direct Taxes CII number will assist you determine the long-term capital gains on which you are required to pay taxes when you file your income tax returns (ITR) next year. This number will be used to calculate inflation-adjusted cost for only those assets that allow for inflation-adjusted (indexation benefit). As a result, the CII value cannot be used to calculate LTCG/LTCL on equity mutual funds because any sum above Rs 1 lakh each fiscal year is taxed at a flat rate of 10% without the advantage of indexation. Context – The Central Board of Direct Taxes (CBDT) notified the cost inflation index (CII) for FY 2022-23 via a notification dated June 14, 2022.
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Question 3 of 5
3. Question
‘Kolleru lake’ is located between the deltas of which two rivers
Correct
Solution(b)
Kolleru Lake is located between the deltas of the Krishna and Godavari rivers in Andhra Pradesh. It is an important habitat for an estimated 20 million residents and migratory birds like Grey or Spot-billed pelicans. It was notified as a Wildlife Sanctuary in 1999 under India’s Wild Life Protection Act, 1972. It was declared a wetland of international importance in 2002 under Ramsar convention.
Context – The Atapaka Bird Sanctuary at Kolleru Lake has become a safe breeding ground for many migratory species namely Grey Pelicans and Painted Storks.
Incorrect
Solution(b)
Kolleru Lake is located between the deltas of the Krishna and Godavari rivers in Andhra Pradesh. It is an important habitat for an estimated 20 million residents and migratory birds like Grey or Spot-billed pelicans. It was notified as a Wildlife Sanctuary in 1999 under India’s Wild Life Protection Act, 1972. It was declared a wetland of international importance in 2002 under Ramsar convention.
Context – The Atapaka Bird Sanctuary at Kolleru Lake has become a safe breeding ground for many migratory species namely Grey Pelicans and Painted Storks.
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Question 4 of 5
4. Question
Consider the following statements regarding ‘All India Women’s Conference’
- It was founded by Margaret Cousins in order to improve educational efforts for women and children
- Sarojini Naidu was the first Indian to be elected as the President of AIWC
Select the correct statement(s)
Correct
Solution(a)
Statement Analysis:
Statement 1 Statement 2 Correct Incorrect The All India Women’s Conference (AIWC) is a non-governmental organisation (NGO) based in Delhi. It was founded in 1927 by Margaret Cousins in order to improve educational efforts for women and children and has expanded its scope to also tackle other women’s rights issues. The organisation is one of the oldest women’s groups in India and has branches throughout the country. Maharani Chimnabai was the first Indian President of AIWC in 1927. Sarojini Naidu was the President in 1930. Context – The organization was in news.
Incorrect
Solution(a)
Statement Analysis:
Statement 1 Statement 2 Correct Incorrect The All India Women’s Conference (AIWC) is a non-governmental organisation (NGO) based in Delhi. It was founded in 1927 by Margaret Cousins in order to improve educational efforts for women and children and has expanded its scope to also tackle other women’s rights issues. The organisation is one of the oldest women’s groups in India and has branches throughout the country. Maharani Chimnabai was the first Indian President of AIWC in 1927. Sarojini Naidu was the President in 1930. Context – The organization was in news.
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Question 5 of 5
5. Question
With reference to ‘I2U2 Initiative’, consider the following statements
- I2U2 initiative is a new grouping of India, Israel, USA and United Kingdom
- It is an exclusive military alliance formed on the lines of NATO
Select the correct statement(s)
Correct
Solution(d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect I2U2 was initially formed in October, 2021 following the Abraham Accords between Israel and the UAE. I2U2 initiative is a new grouping of India, Israel, USA and UAE. In the grouping’s name, ‘I2’ stands for India and Israel, whereas ‘U2’ stands for USA and the UAE. It is not a military alliance on the lines of NATO. It is an all-encompassing initiative to deal with issues concerning maritime security, infrastructure and transport in the region. Context – As part of the I2U2 initiative, US President Joe Biden will hold a virtual summit with Prime Minister Narendra Modi, Israel Prime Minister Naftali Bennett and UAE President Mohammed bin Zayed Al Nahyan during his visit to West Asia from July 13 to 16.
Incorrect
Solution(d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect I2U2 was initially formed in October, 2021 following the Abraham Accords between Israel and the UAE. I2U2 initiative is a new grouping of India, Israel, USA and UAE. In the grouping’s name, ‘I2’ stands for India and Israel, whereas ‘U2’ stands for USA and the UAE. It is not a military alliance on the lines of NATO. It is an all-encompassing initiative to deal with issues concerning maritime security, infrastructure and transport in the region. Context – As part of the I2U2 initiative, US President Joe Biden will hold a virtual summit with Prime Minister Narendra Modi, Israel Prime Minister Naftali Bennett and UAE President Mohammed bin Zayed Al Nahyan during his visit to West Asia from July 13 to 16.
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