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 with respect to ‘Participatory Notes (P-Notes)’
- P-Notes are essentially offshore derivative instruments, and their value is derived from the underlying Indian securities.
- P-Notes allow foreign investors to invest in Indian markets without direct registration with regulatory authorities.
- The anonymity associated with P-Notes has the potential for manipulation or illegal activities like money laundering.
Select the correct statement(s)
Correct
Solution (d)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Correct Participatory Notes (P-Notes) are financial instruments used by foreign investors to invest in the Indian stock market without directly registering with regulatory authorities such as the Securities and Exchange Board of India (SEBI). P-Notes are issued by registered Foreign Institutional Investors (FIIs) or their sub-accounts to overseas investors who wish to participate in the Indian equity market without undergoing the regulatory process. These notes are essentially offshore derivative instruments, and their value is derived from the underlying Indian securities. While P-Notes provide a way for foreign investors to gain exposure to the Indian market, their use has been a subject of regulatory scrutiny due to concerns related to transparency and the potential for misuse. SEBI has implemented various regulations to monitor and regulate the issuance and trading of P-Notes in India. Transparency concerns: The anonymity associated with P-Notes can make it difficult for regulators to track the source of funds and identify potential manipulation or illegal activities like money laundering. This lack of transparency can also raise concerns about market integrity and investor trust. Misuse risks: The anonymity of P-Notes can be exploited for illegal activities like tax evasion or insider trading. This can harm the market and individual investors, potentially discouraging legitimate investment.
Context: Indian capital markets witnessed a significant increase in investments through participatory notes (P-notes), reaching ₹1.31 lakh crore by the end of November.
Incorrect
Solution (d)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Correct Participatory Notes (P-Notes) are financial instruments used by foreign investors to invest in the Indian stock market without directly registering with regulatory authorities such as the Securities and Exchange Board of India (SEBI). P-Notes are issued by registered Foreign Institutional Investors (FIIs) or their sub-accounts to overseas investors who wish to participate in the Indian equity market without undergoing the regulatory process. These notes are essentially offshore derivative instruments, and their value is derived from the underlying Indian securities. While P-Notes provide a way for foreign investors to gain exposure to the Indian market, their use has been a subject of regulatory scrutiny due to concerns related to transparency and the potential for misuse. SEBI has implemented various regulations to monitor and regulate the issuance and trading of P-Notes in India. Transparency concerns: The anonymity associated with P-Notes can make it difficult for regulators to track the source of funds and identify potential manipulation or illegal activities like money laundering. This lack of transparency can also raise concerns about market integrity and investor trust. Misuse risks: The anonymity of P-Notes can be exploited for illegal activities like tax evasion or insider trading. This can harm the market and individual investors, potentially discouraging legitimate investment.
Context: Indian capital markets witnessed a significant increase in investments through participatory notes (P-notes), reaching ₹1.31 lakh crore by the end of November.
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Question 2 of 5
2. Question
With reference to ‘Pradhan Mantri Kisan Samman Nidhi (PM-Kisan)’, consider the following statements
Statement 1- It is a direct income support (DIS), in which every farmer is paid a flat Rs 6,000 per year in three equal installments.
Statement 2- PM-Kisan comes under the Amber Box under Agreement on Agriculture (WTO)
Which one of the following is correct in respect of the above statements?
Correct
Solution (c)
Statement Analysis:
Pradhan Mantri Kisan Samman Nidhi (PM-Kisan)
- Launched in: 2019 as a Central Sector Scheme.
- Objective: It aims to provide income support to all landholding farmer families in India to supplement their financial needs for procuring various inputs related to agriculture and allied activities as well as domestic needs.
- Income support: It is a direct income support (DIS), in which every farmer is paid a flat Rs 6,000 per year in three equal installments.
- Every four months, the benefit will be credited to the account of the eligible PM Kisan beneficiary.
- It is irrespective of which crops she grows in whatever quantities and sells to whomsoever at any price.
- Scope: There is no differentiation between urban and rural cultivable land. This is because both are included under the scheme, as long as the land in urban areas are actually being farmed.
- Also, the scheme does not cover agricultural land that is exploited for nonagricultural.
According to WTO,
- Direct support includes income guarantee and security programme (natural disasters, state financial contributions to crop insurance, etc.); programme aimed at adjusting structures and environmental protection programme, regional development programme.
- Under Agreement on Agriculture (WTO), the direct payment to farmers comes under the Green Box. The Green Box subsidies can be given by a government or in other words they need not be reduced.
Context: The government is increasing the total number of farmer-beneficiaries under the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) to about 8.75 crore, from the current 8.12 crore.
Incorrect
Solution (c)
Statement Analysis:
Pradhan Mantri Kisan Samman Nidhi (PM-Kisan)
- Launched in: 2019 as a Central Sector Scheme.
- Objective: It aims to provide income support to all landholding farmer families in India to supplement their financial needs for procuring various inputs related to agriculture and allied activities as well as domestic needs.
- Income support: It is a direct income support (DIS), in which every farmer is paid a flat Rs 6,000 per year in three equal installments.
- Every four months, the benefit will be credited to the account of the eligible PM Kisan beneficiary.
- It is irrespective of which crops she grows in whatever quantities and sells to whomsoever at any price.
- Scope: There is no differentiation between urban and rural cultivable land. This is because both are included under the scheme, as long as the land in urban areas are actually being farmed.
- Also, the scheme does not cover agricultural land that is exploited for nonagricultural.
According to WTO,
- Direct support includes income guarantee and security programme (natural disasters, state financial contributions to crop insurance, etc.); programme aimed at adjusting structures and environmental protection programme, regional development programme.
- Under Agreement on Agriculture (WTO), the direct payment to farmers comes under the Green Box. The Green Box subsidies can be given by a government or in other words they need not be reduced.
Context: The government is increasing the total number of farmer-beneficiaries under the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) to about 8.75 crore, from the current 8.12 crore.
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Question 3 of 5
3. Question
With reference to ‘Water Pollution’ consider the following statements
- Arsenic contamination is more prevalent in surface water sources than in groundwater.
- Repeated exposure to excessive fluoride in drinking water can cause dental fluorosis, a condition marked by teeth discoloration and weakening.
Select the INCORRECT statement(s)
Correct
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Incorrect Correct Arsenic contamination is more commonly associated with groundwater sources, particularly in regions where geological conditions facilitate the leaching of arsenic into the water. Chronic exposure to high levels of fluoride in drinking water is indeed linked to dental fluorosis, a condition that affects the teeth, causing discoloration and weakening. It is also associated with various health issues, including skin lesions, cancer, and neurological problems. Fluoride exposure, on the other hand, is primarily associated with dental and skeletal fluorosis.
Context: The National Green Tribunal has issued notices to 24 states and four Union Territories regarding the presence of arsenic and fluoride in groundwater.
Incorrect
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Incorrect Correct Arsenic contamination is more commonly associated with groundwater sources, particularly in regions where geological conditions facilitate the leaching of arsenic into the water. Chronic exposure to high levels of fluoride in drinking water is indeed linked to dental fluorosis, a condition that affects the teeth, causing discoloration and weakening. It is also associated with various health issues, including skin lesions, cancer, and neurological problems. Fluoride exposure, on the other hand, is primarily associated with dental and skeletal fluorosis.
Context: The National Green Tribunal has issued notices to 24 states and four Union Territories regarding the presence of arsenic and fluoride in groundwater.
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Question 4 of 5
4. Question
‘Lithium Triangle’ involves which of the following countries
Correct
Solution (b)
- The “Lithium Triangle” refers to a region in South America that contains some of the world’s largest lithium reserves.
- This triangular-shaped region encompasses parts of Argentina, Bolivia, and Chile.
- Argentina, Bolivia and Chile are assessed to possess 58 percent of the world’s known lithium reserves.
- These three countries are significant players in the global lithium market due to the abundance of lithium resources found in the area..
Context: India is close to striking a deal on acquiring five lithium blocks for exploration and development in Argentina.
Incorrect
Solution (b)
- The “Lithium Triangle” refers to a region in South America that contains some of the world’s largest lithium reserves.
- This triangular-shaped region encompasses parts of Argentina, Bolivia, and Chile.
- Argentina, Bolivia and Chile are assessed to possess 58 percent of the world’s known lithium reserves.
- These three countries are significant players in the global lithium market due to the abundance of lithium resources found in the area..
Context: India is close to striking a deal on acquiring five lithium blocks for exploration and development in Argentina.
-
Question 5 of 5
5. Question
Q.1) With reference to ‘Press and Registration of Periodicals Bill, 2023’ consider the following statements
1. The latest Bill excludes books from its purview unlike the 1867 Act
2. The bill transfers administrative power from the District Magistrate to the newly established Press Registrar General
3. The act provides for appellate mechanism headed by the Chairman of the Bar Council of India.
How many statement(s) given above are correct
Correct
Solution (b)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Incorrect The Bill focuses on easing business processes for publishers, removing procedural hurdles, and reducing the administrative burden of declarations and filings. Comparison with the 1867 Act
Exclusion of Books: Unlike the 1867 Act, the 2023 Bill excludes books from its purview, as they fall under the HRD Ministry’s jurisdiction.
Power is transferred from the District Magistrate to the newly established Press Registrar General, centralizing the registration and regulation process. Declaration and Registration Process
Simplification of Procedures: The Bill simplifies the declaration process, eliminating the need for DM involvement and allowing online intimations for printing presses.
Simultaneous Processing: It enables concurrent processing of title allotment and registration applications, streamlining the procedure.
The 2023 Bill seeks to decriminalise the colonial-era statute by replacing jail terms with fines, and providing for an appellate mechanism headed by the Chairman of the Press Council of India. The Appellate Board (Press and Registration Appellate Board) will comprise, alongside the PCI chairman, two PCI members and hear appeals against refusal of registration, imposition of penalties, suspension, or cancellation of registration. Context: Recently, the Lok Sabha passed the Press and Registration of Periodicals Bill, 2023, repealing the colonial era law of the Press and Registration of Books Act, 1867..
Incorrect
Solution (b)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Incorrect The Bill focuses on easing business processes for publishers, removing procedural hurdles, and reducing the administrative burden of declarations and filings. Comparison with the 1867 Act
Exclusion of Books: Unlike the 1867 Act, the 2023 Bill excludes books from its purview, as they fall under the HRD Ministry’s jurisdiction.
Power is transferred from the District Magistrate to the newly established Press Registrar General, centralizing the registration and regulation process. Declaration and Registration Process
Simplification of Procedures: The Bill simplifies the declaration process, eliminating the need for DM involvement and allowing online intimations for printing presses.
Simultaneous Processing: It enables concurrent processing of title allotment and registration applications, streamlining the procedure.
The 2023 Bill seeks to decriminalise the colonial-era statute by replacing jail terms with fines, and providing for an appellate mechanism headed by the Chairman of the Press Council of India. The Appellate Board (Press and Registration Appellate Board) will comprise, alongside the PCI chairman, two PCI members and hear appeals against refusal of registration, imposition of penalties, suspension, or cancellation of registration. Context: Recently, the Lok Sabha passed the Press and Registration of Periodicals Bill, 2023, repealing the colonial era law of the Press and Registration of Books Act, 1867..
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