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 about MFN status ( Most Favoured Nation)
- MFN status is a trade agreement between two countries where each country grants the other country the same trade advantages as its most favoured trading partner.
- Reduced quotas on exports is the primary benefit of granting MFN status to a trading partner.
- India has granted MFN status to all member countries of the World Trade Organization (WTO).
How many of the statements given above are correct?
Correct
Solution (b)
Statement Analysis
Statement 1 Statement 2 Statement 3 correct Incorrect correct - MFN (Most Favored Nation) status in international trade means that a country agrees to treat another country as favorably as it treats its “most favored trading partner.”
Here’s a breakdown:
- Equal Treatment: If a country grants a special trade advantage (like a lower tariff) to one trading partner, it must grant the same advantage to all other countries with MFN status.
- Non-Discrimination: The core principle of MFN is non-discrimination in international trade.
- While reduced quotas can be a benefit of MFN status, it’s not the primary benefit.
- The primary benefit of granting MFN status to a trading partner is ensuring non-discriminatory trade.
- India has granted MFN status to all member countries of the World Trade Organization (WTO).
- This is a core principle of the WTO, and India, as a member, is obligated to adhere to it.
Context: Swiss Shock: EFTA member lobs back India’s MFN tax volley
Incorrect
Solution (b)
Statement Analysis
Statement 1 Statement 2 Statement 3 correct Incorrect correct - MFN (Most Favored Nation) status in international trade means that a country agrees to treat another country as favorably as it treats its “most favored trading partner.”
Here’s a breakdown:
- Equal Treatment: If a country grants a special trade advantage (like a lower tariff) to one trading partner, it must grant the same advantage to all other countries with MFN status.
- Non-Discrimination: The core principle of MFN is non-discrimination in international trade.
- While reduced quotas can be a benefit of MFN status, it’s not the primary benefit.
- The primary benefit of granting MFN status to a trading partner is ensuring non-discriminatory trade.
- India has granted MFN status to all member countries of the World Trade Organization (WTO).
- This is a core principle of the WTO, and India, as a member, is obligated to adhere to it.
Context: Swiss Shock: EFTA member lobs back India’s MFN tax volley
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Question 2 of 5
2. Question
Consider the following statements about the ‘Green Steel Taxonomy for India’
- The ‘Green Steel Taxonomy for India’ is a framework developed by the Ministry of Environment to promote sustainable steel production in India.
- The taxonomy provides a set of criteria to evaluate the environmental sustainability of steel production processes.
- The taxonomy is aligned with the European Union’s Green Taxonomy and is expected to help Indian steel companies access green financing
How many of the statements given above are correct?
Correct
Solution (b)
Statement Analysis
Statement 1 Statement 2 Statement 3 Incorrect correct correct - The ‘Green Steel Taxonomy for India’ is a framework developed by the Ministry of Steel to promote sustainable steel production in India.
- The taxonomy provides a set of criteria to evaluate the environmental sustainability of steel production processes.
- The taxonomy is aligned with the European Union’s Green Taxonomy and is expected to help Indian steel companies access green financing
Context:Union Minister H D Kumaraswamy unveils ‘Green Steel Taxonomy for India’
Incorrect
Solution (b)
Statement Analysis
Statement 1 Statement 2 Statement 3 Incorrect correct correct - The ‘Green Steel Taxonomy for India’ is a framework developed by the Ministry of Steel to promote sustainable steel production in India.
- The taxonomy provides a set of criteria to evaluate the environmental sustainability of steel production processes.
- The taxonomy is aligned with the European Union’s Green Taxonomy and is expected to help Indian steel companies access green financing
Context:Union Minister H D Kumaraswamy unveils ‘Green Steel Taxonomy for India’
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Question 3 of 5
3. Question
What is the primary purpose of Section 69 of the IT Act?
Correct
Solution (c)
Option a Correct - Section 69 of the IT Act empowers the Central Government or a State Government to intercept, monitor, or decrypt any information generated, transmitted, received, or stored in any computer resource.
- The power under Section 69 can be exercised only in the interest of the sovereignty or integrity of India, the security of the State, friendly relations with foreign States, or public order.
- The power under Section 69 is subject to review by a Review Committee.
Context: Section 69 of IT Act
Incorrect
Solution (c)
Option a Correct - Section 69 of the IT Act empowers the Central Government or a State Government to intercept, monitor, or decrypt any information generated, transmitted, received, or stored in any computer resource.
- The power under Section 69 can be exercised only in the interest of the sovereignty or integrity of India, the security of the State, friendly relations with foreign States, or public order.
- The power under Section 69 is subject to review by a Review Committee.
Context: Section 69 of IT Act
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Question 4 of 5
4. Question
Consider the following statements about India-Pacific Economic Framework (IPEF)
- IPEF is a economic framework launched by the India to counter China’s growing influence in the Indo-Pacific region.
- IPEF focuses on four key pillars: trade, supply chains, clean energy, and infrastructure.
Choose the incorrect statements:
Correct
Solution (a)
Statement Analysis
Statement 1 Statement 2 Incorrect Incorrect - The Indo-Pacific Economic Framework (IPEF) is an economic framework launched by the United States.
- While it’s true that IPEF aims to counterbalance China’s growing economic influence in the Indo-Pacific region, it’s not solely an Indian initiative.
- IPEF focuses on four key pillars: trade, supply chains, clean energy, and infrastructure.
Context: India participates in the 2nd meeting of the Supply Chain Council (SCC) as Vice-Chair, under India-Pacific Economic Framework (IPEF)
Incorrect
Solution (a)
Statement Analysis
Statement 1 Statement 2 Incorrect Incorrect - The Indo-Pacific Economic Framework (IPEF) is an economic framework launched by the United States.
- While it’s true that IPEF aims to counterbalance China’s growing economic influence in the Indo-Pacific region, it’s not solely an Indian initiative.
- IPEF focuses on four key pillars: trade, supply chains, clean energy, and infrastructure.
Context: India participates in the 2nd meeting of the Supply Chain Council (SCC) as Vice-Chair, under India-Pacific Economic Framework (IPEF)
-
Question 5 of 5
5. Question
Consider the following statements about the PMAY-G
- PMAY-G is a rural housing scheme launched by the Government of India in 2018.
- Only households with a monthly income of less than Rs. 10,000 is eligible to benefit from PMAY-G.
Choose the correct statements:
Correct
Solution (d)
Statement Analysis
Statement 1 Statement 2 Incorrect Incorrect - PMAY-G is a rural housing scheme launched by the Government of India in 2016.
- As per the Union Cabinet approval, the provisions with regard to mechanised two wheelers, mechanised fishing boat, landline phone and refrigerator have been deleted. Further, the income criteria has also been enhanced from Rs 10000 per month to Rs 15000 and the land related criteria have been simplified
Context: House panel suggests increase in per unit amount for PMAY-G over rising inflation
Incorrect
Solution (d)
Statement Analysis
Statement 1 Statement 2 Incorrect Incorrect - PMAY-G is a rural housing scheme launched by the Government of India in 2016.
- As per the Union Cabinet approval, the provisions with regard to mechanised two wheelers, mechanised fishing boat, landline phone and refrigerator have been deleted. Further, the income criteria has also been enhanced from Rs 10000 per month to Rs 15000 and the land related criteria have been simplified
Context: House panel suggests increase in per unit amount for PMAY-G over rising inflation
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