For Previous Daily Quiz (ARCHIVES) – CLICK HERE
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.
Gear up and Make the Best Use of this initiative.
Do remember that, “the difference between Ordinary and EXTRA-Ordinary is PRACTICE!!”
0 of 5 questions completed
Questions:
To view Solutions, follow these instructions:
You have already completed the test before. Hence you can not start it again.
Test is loading...
You must sign in or sign up to start the test.
You have to finish following test, to start this test:
0 of 5 questions answered correctly
Your time:
Time has elapsed
You have scored 0 points out of 0 points, (0)
| Average score |
|
| Your score |
|
| Pos. | Name | Entered on | Points | Result |
|---|---|---|---|---|
| Table is loading | ||||
| No data available | ||||
Consider the following statements about Biodiversity Heritage Site
Choose the incorrect statements:
Solution (c)
Statement Analysis
| Statement 1 | Statement 2 |
| Incorrect | Incorrect |
| · Biodiversity heritage sites are well-defined areas that are unique, ecologically fragile ecosystems with high diversity of wild and domesticated species, presence of rare and threatened species, and keystone species.
· BHS are notified under the provisions of Biological Diversity Act, 2002. |
· As per provision under Section 37(1) of ‘Biological Diversity Act, 2002’, The State Government may, from time to time in consultation with the local bodies, notify in the Official Gazette, areas of biodiversity importance as under this Act. |
Context: The Odisha government has declared the Gandhamardan Hill Range in Bargarh and Balangir district as a Biodiversity Heritage Site (BHS).
Solution (c)
Statement Analysis
| Statement 1 | Statement 2 |
| Incorrect | Incorrect |
| · Biodiversity heritage sites are well-defined areas that are unique, ecologically fragile ecosystems with high diversity of wild and domesticated species, presence of rare and threatened species, and keystone species.
· BHS are notified under the provisions of Biological Diversity Act, 2002. |
· As per provision under Section 37(1) of ‘Biological Diversity Act, 2002’, The State Government may, from time to time in consultation with the local bodies, notify in the Official Gazette, areas of biodiversity importance as under this Act. |
Context: The Odisha government has declared the Gandhamardan Hill Range in Bargarh and Balangir district as a Biodiversity Heritage Site (BHS).
Consider the following statements about Indo-Pacific Economic Framework
Choose the correct statements:
Solution (a)
Statement Analysis
| Statement 1 | Statement 2 | Statement 3 |
| Correct | Correct | Incorrect |
| · It is a US-led initiative that aims to strengthen economic partnership among participating countries to enhance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness in the Indo-Pacific region. | The IPEF is not a Free Trade Agreement (FTA) but allows members to negotiate the parts they want to. The negotiations will be along four main “pillars”.
· Supply-chain resilience · Clean energy, decarbonisation & infrastructure · Taxation & anti-corruption · Fair & resilient trade. |
· Currently, India and 13 countries located in the Pacific Ocean are its members,
· Australia, Brunei, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States, and Vietnam. |
Context: Recently, an Inter-Ministerial delegation from India led by the Department of Commerce participated in the second Indo-Pacific Economic Framework for Prosperity (IPEF) negotiating round in Bali, Indonesia.
Solution (a)
Statement Analysis
| Statement 1 | Statement 2 | Statement 3 |
| Correct | Correct | Incorrect |
| · It is a US-led initiative that aims to strengthen economic partnership among participating countries to enhance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness in the Indo-Pacific region. | The IPEF is not a Free Trade Agreement (FTA) but allows members to negotiate the parts they want to. The negotiations will be along four main “pillars”.
· Supply-chain resilience · Clean energy, decarbonisation & infrastructure · Taxation & anti-corruption · Fair & resilient trade. |
· Currently, India and 13 countries located in the Pacific Ocean are its members,
· Australia, Brunei, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States, and Vietnam. |
Context: Recently, an Inter-Ministerial delegation from India led by the Department of Commerce participated in the second Indo-Pacific Economic Framework for Prosperity (IPEF) negotiating round in Bali, Indonesia.
Consider the following statements about International Monetary Fund (IMF)
Choose the correct statements:
Solution (b)
Statement Analysis
| Statement 1 | Statement 2 | Statement 3 |
| Correct | Correct | Incorrect |
| · The IMF was established in 1944 in the aftermath of the Great Depression of the 1930s.
· Aim – It sought to build a framework for international economic cooperation. |
· Funding – The IMF’s resources mainly come from the money that countries pay as their capital subscription (quotas) when they become members.
· Each member of the IMF is assigned a quota, based broadly on its relative position in the world economy. · Countries can then borrow from this pool when they fall into financial difficulty. · The IMF provides loans including emergency loans to member countries experiencing actual or potential balance of payments problems. |
IMF reports
· World Economic Outlook – A Survey that usually published twice a year. · Global Financial Stability Report – Published twice a year. · Fiscal Monitor – Prepared twice a year. · Global Financial Development Report is released by World Bank. |
Context: International Monetary Fund (IMF) Extended Fund Facility of $2.9 billion to tide over the worst economic crisis in srilanka.
Solution (b)
Statement Analysis
| Statement 1 | Statement 2 | Statement 3 |
| Correct | Correct | Incorrect |
| · The IMF was established in 1944 in the aftermath of the Great Depression of the 1930s.
· Aim – It sought to build a framework for international economic cooperation. |
· Funding – The IMF’s resources mainly come from the money that countries pay as their capital subscription (quotas) when they become members.
· Each member of the IMF is assigned a quota, based broadly on its relative position in the world economy. · Countries can then borrow from this pool when they fall into financial difficulty. · The IMF provides loans including emergency loans to member countries experiencing actual or potential balance of payments problems. |
IMF reports
· World Economic Outlook – A Survey that usually published twice a year. · Global Financial Stability Report – Published twice a year. · Fiscal Monitor – Prepared twice a year. · Global Financial Development Report is released by World Bank. |
Context: International Monetary Fund (IMF) Extended Fund Facility of $2.9 billion to tide over the worst economic crisis in srilanka.
Consider the following statements about PM Formalisation of Micro Food Processing Enterprises Scheme (PMFME)
Choose the correct statements:
Solution (b)
Statement Analysis
| Statement 1 | Statement 2 | Statement 3 |
| Correct | Incorrect | Correct |
| · It is a centrally sponsored scheme launched in 2020 with an outlay of Rs.10,000 crore.
· Duration: It will be implemented over a 5-year period from 2020-21 to 2024-25. |
· Nodal Ministry: Ministry of Food Processing Industries.
· Fund Sharing: The expenditure under the scheme would be shared in a 60:40 ratio between Central and State Governments, a 90:10 ratio with North Eastern and Himalayan States, a 60:40 ratio with UTs with legislature, and 100% by Centre for other UTs. |
Financial Support:
Support to Individual micro-units: · Micro enterprises will get credit linked subsidy at 35% of the eligible project cost with a ceiling of Rs.10 lakh. · The beneficiary contribution will be minimum of 10% and the balance from the loan. Support to FPOs/SHGs/Cooperatives: · Seed capital will be given to SHGs ( at Rs. 4 lacks per SHG) for loans to members for working capital and small tools. · Grant for backward/ forward linkages, common infrastructure, packaging, marketing & branding. |
Context: Ministry Of Food Processing Industries recently informed that the PMFME scheme has received over 1,02,515 loan applications so far.
Solution (b)
Statement Analysis
| Statement 1 | Statement 2 | Statement 3 |
| Correct | Incorrect | Correct |
| · It is a centrally sponsored scheme launched in 2020 with an outlay of Rs.10,000 crore.
· Duration: It will be implemented over a 5-year period from 2020-21 to 2024-25. |
· Nodal Ministry: Ministry of Food Processing Industries.
· Fund Sharing: The expenditure under the scheme would be shared in a 60:40 ratio between Central and State Governments, a 90:10 ratio with North Eastern and Himalayan States, a 60:40 ratio with UTs with legislature, and 100% by Centre for other UTs. |
Financial Support:
Support to Individual micro-units: · Micro enterprises will get credit linked subsidy at 35% of the eligible project cost with a ceiling of Rs.10 lakh. · The beneficiary contribution will be minimum of 10% and the balance from the loan. Support to FPOs/SHGs/Cooperatives: · Seed capital will be given to SHGs ( at Rs. 4 lacks per SHG) for loans to members for working capital and small tools. · Grant for backward/ forward linkages, common infrastructure, packaging, marketing & branding. |
Context: Ministry Of Food Processing Industries recently informed that the PMFME scheme has received over 1,02,515 loan applications so far.
Solomon Islands, recently seen in news is located in?
Solution (b)
| Option b |
| Correct |
| Location:
· It is an island country consisting of six major islands and over 900 smaller islands in Oceania. · It is situated in the southwest Pacific Ocean, approximately 2,000 km to the northeast of Australia. · Capital: Its capital, Honiara, is located on the largest island, Guadalcanal.
|
Context: A state-backed Chinese company recently won a contract to develop a key port in the Solomon Islands.
Solution (b)
| Option b |
| Correct |
| Location:
· It is an island country consisting of six major islands and over 900 smaller islands in Oceania. · It is situated in the southwest Pacific Ocean, approximately 2,000 km to the northeast of Australia. · Capital: Its capital, Honiara, is located on the largest island, Guadalcanal.
|
Context: A state-backed Chinese company recently won a contract to develop a key port in the Solomon Islands.
