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 the Contract farming
- Contract farming is exclusively limited to horticultural crops and does not include field crops like wheat or rice.
- Contract farming always leads to higher income for farmers compared to traditional farming methods, irrespective of market fluctuations or contractual disputes
- The Model Contract Farming Act, 2018, provides a legal framework for contract farming, aiming to protect the interests of both farmers and sponsors.
How many of the statements given above are correct?
Correct
Solution (a)
Statement Analysis
Statement 1 Statement 2 Statement 3 Incorrect Incorrect correct - Contract farming is not limited to horticulture; it can include various field crops, poultry, dairy, etc.
- While contract farming can lead to higher incomes, it’s not guaranteed. Market fluctuations or breaches of contract can negatively impact farmers’ earnings.
- The Model Contract Farming Act, 2018, was indeed introduced to provide a structured legal framework.
Context:The shift from importing to exporting frozen French fries in India, highlights the importance of contract farming for both the agricultural industry and farmers.
Incorrect
Solution (a)
Statement Analysis
Statement 1 Statement 2 Statement 3 Incorrect Incorrect correct - Contract farming is not limited to horticulture; it can include various field crops, poultry, dairy, etc.
- While contract farming can lead to higher incomes, it’s not guaranteed. Market fluctuations or breaches of contract can negatively impact farmers’ earnings.
- The Model Contract Farming Act, 2018, was indeed introduced to provide a structured legal framework.
Context:The shift from importing to exporting frozen French fries in India, highlights the importance of contract farming for both the agricultural industry and farmers.
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Question 2 of 5
2. Question
Consider the following statements about the Open Market Sale Scheme
- The Open Market Sale Scheme (OMSS) is a mechanism used by the Food Corporation of India (FCI) to sell surplus food grains, primarily wheat and rice, in the open market.
- The primary objective of OMSS is to dispose of excess stock of food grains with the FCI and to stabilize market prices, especially during lean seasons or periods of high inflation.
- OMSS operations are conducted exclusively through e-auctions, ensuring transparency and wider participation.
How many of the statements given above are correct?
Correct
Solution (c)
Statement Analysis
Statement 1 Statement 2 Statement 3 correct correct correct - OMSS is indeed a mechanism for the FCI to sell surplus stock.
- Stabilizing market prices and managing surplus stock are key objectives.
- E-auctions are the standard method for OMSS sales to ensure transparency.
Context:Recently, the Government announced a significant revision in the Open Market Sale Scheme (Domestic) [OMSS(D)] Policy for the year 2024-25.
Incorrect
Solution (c)
Statement Analysis
Statement 1 Statement 2 Statement 3 correct correct correct - OMSS is indeed a mechanism for the FCI to sell surplus stock.
- Stabilizing market prices and managing surplus stock are key objectives.
- E-auctions are the standard method for OMSS sales to ensure transparency.
Context:Recently, the Government announced a significant revision in the Open Market Sale Scheme (Domestic) [OMSS(D)] Policy for the year 2024-25.
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Question 3 of 5
3. Question
Which of the following statements is correct regarding Kalaripayattu?
Correct
Option b It is considered one of the oldest surviving martial arts in the world, originating in Kerala, incorporating elements of yoga, acrobatics, and self-defense techniques Context:Kalaripayattu has been relegated to the demonstration section for the 38th National Games in Uttarakhand, scheduled to begin on January 28.
Incorrect
Option b It is considered one of the oldest surviving martial arts in the world, originating in Kerala, incorporating elements of yoga, acrobatics, and self-defense techniques Context:Kalaripayattu has been relegated to the demonstration section for the 38th National Games in Uttarakhand, scheduled to begin on January 28.
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Question 4 of 5
4. Question
Consider the following statements about the Securities Transaction Tax (STT)
- The revenue collected through STT goes entirely to the state governments where the transactions take place.
- The rate of STT is uniform across all types of securities transactions, irrespective of whether it’s a purchase or sale.
Choose the incorrect statements:
Correct
Solution (c)
Statement Analysis
Statement 1 Statement 2 Incorrect Incorrect - STT revenue goes to the Central Government, not state governments.
- STT rates vary depending on the type of security and whether it’s a purchase or sale.
Context: The Securities Transaction Tax (STT) collection has surged by over 75%, reaching Rs 44,538 crore as of January 2025, compared to Rs 25,415 crore during the same period in 2024.
Incorrect
Solution (c)
Statement Analysis
Statement 1 Statement 2 Incorrect Incorrect - STT revenue goes to the Central Government, not state governments.
- STT rates vary depending on the type of security and whether it’s a purchase or sale.
Context: The Securities Transaction Tax (STT) collection has surged by over 75%, reaching Rs 44,538 crore as of January 2025, compared to Rs 25,415 crore during the same period in 2024.
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Question 5 of 5
5. Question
Consider the following statements about The Nord Stream Pipeline
- Nord Stream 2, a parallel pipeline to the original Nord Stream, was completed but never certified for operation due to geopolitical tensions and the Russian invasion of Ukraine.
- The primary purpose of Nord Stream is to transport natural gas directly from Russian reserves to European markets, bypassing transit countries like Ukraine and Poland.
Choose the correct statements:
Correct
Solution (c)
Statement Analysis
Statement 1 Statement 2 correct correct - Bypassing transit countries was a key strategic objective.
- Nord Stream 2 was completed but its certification process was halted, and it never became operational due to the geopolitical situation, particularly following Russia’s invasion of Ukraine.
Context:The Nord Stream subsea pipeline leaks released an estimated 465 ± 20 thousand metric tons of methane into the atmosphere.
Incorrect
Solution (c)
Statement Analysis
Statement 1 Statement 2 correct correct - Bypassing transit countries was a key strategic objective.
- Nord Stream 2 was completed but its certification process was halted, and it never became operational due to the geopolitical situation, particularly following Russia’s invasion of Ukraine.
Context:The Nord Stream subsea pipeline leaks released an estimated 465 ± 20 thousand metric tons of methane into the atmosphere.
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