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 ‘Currency internalization’
- It limits the exchange rate risk
- It boosts the formation of capital
- It results in better transmission of monetary policy
How many of the statement(s) given above are correct
Correct
Solution (b)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Incorrect As the internationalisation of a country’s currency broadens and deepens its financial market, domestic firms may be able to invoice and settle their exports/imports in their currency, thus shifting exchange rate risk to their foreign counterparts. A larger, more efficient financial sector may serve the domestic non-financial sector better by reducing the cost of capital and widening the set of financial institutions that are willing and able to provide capital. This would boost capital formation in the economy thereby increasing growth and reducing unemployment. The obligation of a country to supply its currency to meet the global demand may come in conflict with its domestic monetary policies, popularly known as the Triffin dilemma. The main costs of allowing greater international use of the currency emerge from the possible increased volatility in the exchange and money markets, thus making the conduct of monetary policy more complex. Context – Inter-Departmental Group of RBI has released the report & recommendations for Internationalisation of rupee.
Incorrect
Solution (b)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Incorrect As the internationalisation of a country’s currency broadens and deepens its financial market, domestic firms may be able to invoice and settle their exports/imports in their currency, thus shifting exchange rate risk to their foreign counterparts. A larger, more efficient financial sector may serve the domestic non-financial sector better by reducing the cost of capital and widening the set of financial institutions that are willing and able to provide capital. This would boost capital formation in the economy thereby increasing growth and reducing unemployment. The obligation of a country to supply its currency to meet the global demand may come in conflict with its domestic monetary policies, popularly known as the Triffin dilemma. The main costs of allowing greater international use of the currency emerge from the possible increased volatility in the exchange and money markets, thus making the conduct of monetary policy more complex. Context – Inter-Departmental Group of RBI has released the report & recommendations for Internationalisation of rupee.
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Question 2 of 5
2. Question
Consider the following statements with respect to ‘World Investment Report 2023’
- FDI inflows were higher in developed countries compared with those in developing economies
- Much of the growth in international investment in renewable energy has been concentrated in developing countries
- It is released by the United Nations Conference on Trade and Development
How many of the statement(s) given above are correct
Correct
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Incorrect Correct FDI inflows were higher in developing countries compared with those in developed economies. India and ASEAN were the most buoyant recipients of the Foreign direct investment (FDI), with increases of 10 and 5%, respectively. Much of the growth in international investment in renewable energy has been concentrated in developed countries. The investment gap across all sectors of the Sustainable Development Goals has increased to more than $4 trillion per year from $2.5 trillion in 2015. It is released by the United Nations Conference on Trade and Development Context – The United Nations Conference on Trade and Development (UNCTAD) published its World Investment Report 2023.
Incorrect
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Incorrect Correct FDI inflows were higher in developing countries compared with those in developed economies. India and ASEAN were the most buoyant recipients of the Foreign direct investment (FDI), with increases of 10 and 5%, respectively. Much of the growth in international investment in renewable energy has been concentrated in developed countries. The investment gap across all sectors of the Sustainable Development Goals has increased to more than $4 trillion per year from $2.5 trillion in 2015. It is released by the United Nations Conference on Trade and Development Context – The United Nations Conference on Trade and Development (UNCTAD) published its World Investment Report 2023.
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Question 3 of 5
3. Question
Consider the following pairs
Official butterfly: State/UT
- Blue Pansy: Puducherry
- Kaiser I Hind: Arunachal Pradesh
- Blue Duke: Sikkim
- Southern Bird Wing: Kerala
How many pair(s) is/are correctly matched
Correct
Solution (b)
Statement Analysis:
Official butterfly State/UT Blue Pansy Jammu and Kashmir Kaiser I Hind Arunachal Pradesh Blue Duke Sikkim Southern Bird Wing Karnataka Context – The Jammu and Kashmir government has officially declared the Blue Pansy as the official butterfly of the union territory.
Incorrect
Solution (b)
Statement Analysis:
Official butterfly State/UT Blue Pansy Jammu and Kashmir Kaiser I Hind Arunachal Pradesh Blue Duke Sikkim Southern Bird Wing Karnataka Context – The Jammu and Kashmir government has officially declared the Blue Pansy as the official butterfly of the union territory.
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Question 4 of 5
4. Question
Consider the following statements with respect to ‘Digital Personal Data Protection Bill, 2022’
Statement 1 – The bill applies to Personal data which may be processed with consent only within India
Statement 2 – The Bill grants certain rights to individuals including the right to obtain information and grievance redressal
Which one of the following is correct in respect of the above statements?
Correct
Solution (d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Correct The Bill will apply to the processing of digital personal data within India where such data is: (i) collected online, or (ii) collected offline and is digitised. Personal data is defined as any data about an individual who is identifiable by or in relation to such data. It will also apply to the processing of personal data outside India, if it is for offering goods or services or profiling individuals in India. The Bill grants certain rights to individuals including the right to obtain information, seek correction and erasure, and grievance redressal. They will have certain duties. They must not: register a false or frivolous complaint, furnish any false particulars, suppress information, or impersonate another person in specified cases. Context – The Union Cabinet approved the draft data protection Bill, paving the way for its introduction in the Monsoon session of Parliament.
Incorrect
Solution (d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Correct The Bill will apply to the processing of digital personal data within India where such data is: (i) collected online, or (ii) collected offline and is digitised. Personal data is defined as any data about an individual who is identifiable by or in relation to such data. It will also apply to the processing of personal data outside India, if it is for offering goods or services or profiling individuals in India. The Bill grants certain rights to individuals including the right to obtain information, seek correction and erasure, and grievance redressal. They will have certain duties. They must not: register a false or frivolous complaint, furnish any false particulars, suppress information, or impersonate another person in specified cases. Context – The Union Cabinet approved the draft data protection Bill, paving the way for its introduction in the Monsoon session of Parliament.
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Question 5 of 5
5. Question
‘Mosaic viruses’ seen in news are known to mostly affect
Correct
Solution (c)
A mosaic virus is a parasite that destroys plants, gardens, and crops down to their molecular level. Such viruses come from a variety of unrelated lineages and consequently there is no taxon that unites all mosaic viruses. Mosaic viruses affect more than 150 types of plants, including many fruits, vegetables, and flowers. The disease is characterized by leaves mottled with yellow, white, and light or dark green spots and streaks. It affects a wide variety of horticultural and vegetable crops — roses, beans, tobacco, tomatoes, potatoes, cucumbers, pumpkins, squash, melons, and peppers.
Context – Tomato crop in Maharashtra was impacted by attacks of the cucumber mosaic virus (CMV), while in Karnataka and other South Indian states the farmers blaming tomato mosaic virus (ToMV) for crop losses.
Incorrect
Solution (c)
A mosaic virus is a parasite that destroys plants, gardens, and crops down to their molecular level. Such viruses come from a variety of unrelated lineages and consequently there is no taxon that unites all mosaic viruses. Mosaic viruses affect more than 150 types of plants, including many fruits, vegetables, and flowers. The disease is characterized by leaves mottled with yellow, white, and light or dark green spots and streaks. It affects a wide variety of horticultural and vegetable crops — roses, beans, tobacco, tomatoes, potatoes, cucumbers, pumpkins, squash, melons, and peppers.
Context – Tomato crop in Maharashtra was impacted by attacks of the cucumber mosaic virus (CMV), while in Karnataka and other South Indian states the farmers blaming tomato mosaic virus (ToMV) for crop losses.
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