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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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Statement 1	Statement 2	Statement 3	Statement 4
Correct	Incorrect	Correct	Correct
The Monetary Policy Committee (MPC) is constituted by the Central Government under Section 45ZB of the Reserve Bank of India Act,1934	Section 45ZB of the amended RBI Act, 1934 provides for an empowered six-member monetary policy committee (MPC) The MPC is required to meet at least four times in a year	The amended RBI Act also provides for the inflation target to be set by the Government of India, in consultation with the Reserve Bank, once in every five years. Accordingly, the Central Government notified in the Official Gazette 4 per cent Consumer Price Index (CPI) inflation as the target for the period from August 5, 2016 to March 31, 2021 with the upper tolerance limit of 6 per cent and the lower tolerance limit of 2 per cent	The Central Government notified the following as factors that constitute failure to achieve the inflation target: (a) the average inflation is more than the upper tolerance level of the inflation target for any three consecutive quarters; or (b) the average inflation is less than the lower tolerance level for any three consecutive quarters.

Statement 1	Statement 2	Statement 3	Statement 4
Correct	Incorrect	Correct	Correct
The Monetary Policy Committee (MPC) is constituted by the Central Government under Section 45ZB of the Reserve Bank of India Act,1934	Section 45ZB of the amended RBI Act, 1934 provides for an empowered six-member monetary policy committee (MPC) The MPC is required to meet at least four times in a year	The amended RBI Act also provides for the inflation target to be set by the Government of India, in consultation with the Reserve Bank, once in every five years. Accordingly, the Central Government notified in the Official Gazette 4 per cent Consumer Price Index (CPI) inflation as the target for the period from August 5, 2016 to March 31, 2021 with the upper tolerance limit of 6 per cent and the lower tolerance limit of 2 per cent	The Central Government notified the following as factors that constitute failure to achieve the inflation target: (a) the average inflation is more than the upper tolerance level of the inflation target for any three consecutive quarters; or (b) the average inflation is less than the lower tolerance level for any three consecutive quarters.

Statement 1	Statement 2	Statement 3
Incorrect	Incorrect	Correct
The area under cultivation of coarse cereals decreased from 37 million hectares to 25 million hectares.	The area under cultivation of rice and wheat(coarse grains) from the time of the Green Revolution till recently increased from 30 million hectares to 44 million hectares and 9 million hectares to 31 million hectares	The introduction of high-yielding varieties (HYV) of seeds and the improved quality of fertilizers and irrigation techniques led to the increase in the production to make the country self-sufficient in food grains, thus improving agriculture in India which led to reduced imports

Statement 1	Statement 2	Statement 3
Incorrect	Incorrect	Correct
The area under cultivation of coarse cereals decreased from 37 million hectares to 25 million hectares.	The area under cultivation of rice and wheat(coarse grains) from the time of the Green Revolution till recently increased from 30 million hectares to 44 million hectares and 9 million hectares to 31 million hectares	The introduction of high-yielding varieties (HYV) of seeds and the improved quality of fertilizers and irrigation techniques led to the increase in the production to make the country self-sufficient in food grains, thus improving agriculture in India which led to reduced imports

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Statement 1	Statement 2	Statement 3
Correct	Incorrect	Correct
Madhwacharya was a Hindu philosopher and the chief proponent of the Dvaita (dualism) school of Vedanta. Madhva called his philosophy Tattvavāda meaning “arguments from a realist viewpoint”	Madhwacharya stated that metaphysical reality is plural. There are primarily two tattvas or categories of reality — svatantra tattva (independent reality) and asvatantra tattva (dependent reality. Ishvara (as God Vishnu or Krishna) is the cause of the universe and the only independent reality, in Madhvacharya’s view.	Namdev and Madhwacharya are contemporaries who lived in the thirteenth century.

Statement 1	Statement 2	Statement 3
Correct	Incorrect	Correct
Madhwacharya was a Hindu philosopher and the chief proponent of the Dvaita (dualism) school of Vedanta. Madhva called his philosophy Tattvavāda meaning “arguments from a realist viewpoint”	Madhwacharya stated that metaphysical reality is plural. There are primarily two tattvas or categories of reality — svatantra tattva (independent reality) and asvatantra tattva (dependent reality. Ishvara (as God Vishnu or Krishna) is the cause of the universe and the only independent reality, in Madhvacharya’s view.	Namdev and Madhwacharya are contemporaries who lived in the thirteenth century.