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 countries:
- Oman
- Saudi Arabia
- Sudan
- Iran
How many of the above-mentioned countries share coastal line with Red Sea?
Select the correct statement(s)
Correct
Solution (b)
Statement Analysis:
There are six countries bordering the Red Sea: o Egypt: Egypt forms the western coast of the northern Red Sea, including the Gulf of Suez.
o Sudan: Sudan shares the western coastline south of Egypt, extending to the northern tip of the Red Sea.
o Eritrea: Eritrea occupies the northwestern coast of the Red Sea, with its capital, Asmara, located inland.
o Djibouti: Djibouti sits at the southwestern corner of the Red Sea, bordering both Eritrea and Ethiopia.
o Saudi Arabia: Saudi Arabia holds the eastern coastline, stretching from the northern tip down to Yemen.
· Yemen: Yemen occupies the southernmost coastline of the Red Sea, including the Gulf of Aden.
Context: Houthi Rebels Fire on Cargo Ships in Red Sea.
Incorrect
Solution (b)
Statement Analysis:
There are six countries bordering the Red Sea: o Egypt: Egypt forms the western coast of the northern Red Sea, including the Gulf of Suez.
o Sudan: Sudan shares the western coastline south of Egypt, extending to the northern tip of the Red Sea.
o Eritrea: Eritrea occupies the northwestern coast of the Red Sea, with its capital, Asmara, located inland.
o Djibouti: Djibouti sits at the southwestern corner of the Red Sea, bordering both Eritrea and Ethiopia.
o Saudi Arabia: Saudi Arabia holds the eastern coastline, stretching from the northern tip down to Yemen.
· Yemen: Yemen occupies the southernmost coastline of the Red Sea, including the Gulf of Aden.
Context: Houthi Rebels Fire on Cargo Ships in Red Sea.
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Question 2 of 5
2. Question
With reference to the term ‘Reverse Flip’, consider the following statements
Statement 1- Reverse Flip is a trend of overseas startups shifting their domicile to India. .
Statement 2- The trend of Reverse Flip is beneficial to Indian economy.
Which one of the following is correct in respect of the above statements?
Correct
Solution (a)
Statement Analysis:
About Reverse Flip
It is trend of relocation of Indian unicorns, companies valued at over $1 billion, back to their homeland after initially setting up headquarters abroad.
Why the U-turn? The reasons are multifaceted:
Taxation Advantages: The complex and cumbersome Indian tax system often drives startups offshore to countries with simpler and more favorable tax regimes. However, recent government initiatives like the introduction of Special Economic Zones for startups and reduced capital gains tax are making India a more attractive destination.
Talent Acquisition: Accessing skilled tech talent remains a challenge for Indian startups. International hubs like Singapore and Dubai offer larger talent pools and easier visa processes, initially tempting companies to set up base there. But with India’s burgeoning tech talent pool and improved visa regulations, the tide is turning.
Market Proximity: Operating closer to their target market allows for better understanding of customer needs, faster product iteration, and stronger brand resonance. Being physically present in India enables startups to tap into the vast and diverse domestic market more effectively.
Government Support: Recognizing the importance of startups for economic growth, the Indian government has rolled out various support programs and initiatives like Startup India and Stand-up India. These programs offer funding, incubation facilities, and mentorship, making India a more supportive environment for startup growth.
Benefits of the Reverse Flip:
Boosts Investor Confidence: The return of established unicorns showcases India’s potential as a startup hub, attracting further investment and fueling the ecosystem’s growth.
Creates Jobs and Opportunities: Returning startups contribute to job creation, talent development, and overall economic growth within India.
Fosters Innovation and Knowledge Sharing: The influx of global expertise and experience from returning unicorns can benefit the broader Indian startup community through knowledge sharing and collaboration.
Strengthens Brand India: The success of Indian-born, globally-competitive startups shines a positive light on India’s entrepreneurial spirit and technological prowess.
Context: Pine Labs, Udaan, Meesho Looking To Move Domicile to India
Incorrect
Solution (a)
Statement Analysis:
About Reverse Flip
It is trend of relocation of Indian unicorns, companies valued at over $1 billion, back to their homeland after initially setting up headquarters abroad.
Why the U-turn? The reasons are multifaceted:
Taxation Advantages: The complex and cumbersome Indian tax system often drives startups offshore to countries with simpler and more favorable tax regimes. However, recent government initiatives like the introduction of Special Economic Zones for startups and reduced capital gains tax are making India a more attractive destination.
Talent Acquisition: Accessing skilled tech talent remains a challenge for Indian startups. International hubs like Singapore and Dubai offer larger talent pools and easier visa processes, initially tempting companies to set up base there. But with India’s burgeoning tech talent pool and improved visa regulations, the tide is turning.
Market Proximity: Operating closer to their target market allows for better understanding of customer needs, faster product iteration, and stronger brand resonance. Being physically present in India enables startups to tap into the vast and diverse domestic market more effectively.
Government Support: Recognizing the importance of startups for economic growth, the Indian government has rolled out various support programs and initiatives like Startup India and Stand-up India. These programs offer funding, incubation facilities, and mentorship, making India a more supportive environment for startup growth.
Benefits of the Reverse Flip:
Boosts Investor Confidence: The return of established unicorns showcases India’s potential as a startup hub, attracting further investment and fueling the ecosystem’s growth.
Creates Jobs and Opportunities: Returning startups contribute to job creation, talent development, and overall economic growth within India.
Fosters Innovation and Knowledge Sharing: The influx of global expertise and experience from returning unicorns can benefit the broader Indian startup community through knowledge sharing and collaboration.
Strengthens Brand India: The success of Indian-born, globally-competitive startups shines a positive light on India’s entrepreneurial spirit and technological prowess.
Context: Pine Labs, Udaan, Meesho Looking To Move Domicile to India
-
Question 3 of 5
3. Question
With reference to ‘Square Kilometre Array Observatory (SKAO)’ consider the following statements
- Its aim is to build and operate cutting-edge radio telescopes to transform the understanding of the Universe.
- Its headquarters is located in USA.
Select the INCORRECT statement(s)
Correct
Solution (b)
Statement 1 Statement 2 Correct Incorrect The SKA Observatory is an intergovernmental bringing together organizations from ten countries; Australia, Canada, China, India, Italy, New Zealand, South Africa, Sweden, the Netherlands and the UK. Its aim is to build and operate cutting-edge radio telescopes to transform the understanding of the Universe.
It will explore the formation and evolution of galaxies, fundamental physics in extreme environments and the origins of life.
Headquarters: United Kingdom The observatory consists of the two telescopes at radio-quiet sites in South Africa and Australia, and associated facilities to support the operations of the telescopes.
Indian Engagement in SKAO
India, through the Pune-based National Centre for Radio Astrophysics (NCRA) has been involved in the development of SKA since its inception in the 1990s.
India’s main contribution is in the development, and operation, of the Telescope Manager element, the “neural network” or the software that will make the telescope work.
Context: India has approved to join the SKA project, accompanied by a financial commitment of Rs 1,250 crore.
Incorrect
Solution (b)
Statement 1 Statement 2 Correct Incorrect The SKA Observatory is an intergovernmental bringing together organizations from ten countries; Australia, Canada, China, India, Italy, New Zealand, South Africa, Sweden, the Netherlands and the UK. Its aim is to build and operate cutting-edge radio telescopes to transform the understanding of the Universe.
It will explore the formation and evolution of galaxies, fundamental physics in extreme environments and the origins of life.
Headquarters: United Kingdom The observatory consists of the two telescopes at radio-quiet sites in South Africa and Australia, and associated facilities to support the operations of the telescopes.
Indian Engagement in SKAO
India, through the Pune-based National Centre for Radio Astrophysics (NCRA) has been involved in the development of SKA since its inception in the 1990s.
India’s main contribution is in the development, and operation, of the Telescope Manager element, the “neural network” or the software that will make the telescope work.
Context: India has approved to join the SKA project, accompanied by a financial commitment of Rs 1,250 crore.
-
Question 4 of 5
4. Question
‘Cigaritis meghamalaiensis’ which was recently in news is
Correct
Solution (a)
About Cigaritis meghamalaiensis
- It is the new species of butterfly.
- It has become the first butterfly species to be described from the Western Ghats in 33 years.
- The researchers had first come across the distinct species belonging to the Cigaritis genus in the high elevations of Periyar in Idukki in 2018.
- Further explorations have revealed the species to be confined to the Meghamalais and the adjoining Periyar Tiger Reserve.
- Appearance
- The discal and post-discal bands on the forewing underside of the adult butterfly are conjoined and lie parallel from their origin at the costa.
- The unique feature distinguishes the new species from all other Cigaritis occurring in Peninsular India and Sri Lanka
- There are seven species of Cigaritisin the Western Ghats, viz., C. vulcanus, C. schistacea, C. ictis, C. elima elima, C. lohita lazularia, C. lilacinus, and C. abnormis. Of these, all except C. lilacinus have been reported from the southern Western Ghats.
Context: The pristine hills of the Meghamalai in Tamil Nadu have thrown up a new species of ‘silverline’ butterflies.
Incorrect
Solution (a)
About Cigaritis meghamalaiensis
- It is the new species of butterfly.
- It has become the first butterfly species to be described from the Western Ghats in 33 years.
- The researchers had first come across the distinct species belonging to the Cigaritis genus in the high elevations of Periyar in Idukki in 2018.
- Further explorations have revealed the species to be confined to the Meghamalais and the adjoining Periyar Tiger Reserve.
- Appearance
- The discal and post-discal bands on the forewing underside of the adult butterfly are conjoined and lie parallel from their origin at the costa.
- The unique feature distinguishes the new species from all other Cigaritis occurring in Peninsular India and Sri Lanka
- There are seven species of Cigaritisin the Western Ghats, viz., C. vulcanus, C. schistacea, C. ictis, C. elima elima, C. lohita lazularia, C. lilacinus, and C. abnormis. Of these, all except C. lilacinus have been reported from the southern Western Ghats.
Context: The pristine hills of the Meghamalai in Tamil Nadu have thrown up a new species of ‘silverline’ butterflies.
-
Question 5 of 5
5. Question
With reference to ‘Financial Stability and Development Council (FSDC)’ consider the following statements
- FSDC is a statutory body established under the Ministry of Finance
- FSDC monitors macro-prudential supervision of the economy.
- The chairperson of FSDC is the Governor of the Reserve Bank of India (RBI).
How many statement(s) given above are correct
Correct
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Correct Incorrect It is a non-statutory apex council under the Ministry of Finance constituted by the Executive Order in 2010. The Raghuram Rajan committee (2008) on financial sector reforms first proposed the creation of FSDC.
To strengthen and institutionalize the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development. To monitor macro-prudential supervision of the economy. It assesses the functioning of large financial conglomerates.
It is chaired by the Finance Minister and its members include the heads of all Financial Sector Regulators (RBI, SEBI, PFRDA, and IRDA), Finance Secretary, Secretary of Department of Economic Affairs (DEA), Secretary of Department of Financial Services (DFS), and Chief Economic Adviser. In 2018, the government reconstituted FSDC to include the Minister of State responsible for the Department of Economic Affairs (DEA), Secretary of Department of Electronics and Information Technology, Chairperson of the Insolvency and Bankruptcy Board of India (IBBI) and the Revenue Secretary.
Context: RBI releases Financial Stability Report.(Inspired by PYQ)
Incorrect
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Correct Incorrect It is a non-statutory apex council under the Ministry of Finance constituted by the Executive Order in 2010. The Raghuram Rajan committee (2008) on financial sector reforms first proposed the creation of FSDC.
To strengthen and institutionalize the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development. To monitor macro-prudential supervision of the economy. It assesses the functioning of large financial conglomerates.
It is chaired by the Finance Minister and its members include the heads of all Financial Sector Regulators (RBI, SEBI, PFRDA, and IRDA), Finance Secretary, Secretary of Department of Economic Affairs (DEA), Secretary of Department of Financial Services (DFS), and Chief Economic Adviser. In 2018, the government reconstituted FSDC to include the Minister of State responsible for the Department of Economic Affairs (DEA), Secretary of Department of Electronics and Information Technology, Chairperson of the Insolvency and Bankruptcy Board of India (IBBI) and the Revenue Secretary.
Context: RBI releases Financial Stability Report.(Inspired by PYQ)
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