QUIZ – 2017: Insights Current Affairs Quiz, 17 August 2017

Solution: a.
The Palamau Tiger Reserve (https://www.palamautigerreserve.in/?page_id=4) is located in the western side of Latehar district on the Chhotanagpur plateau in Jharkhand. It is constituted mainly of Sal forests, mixed deciduous forests and bamboo groves.
Improvisation and In the news (http://pib.nic.in/newsite/PrintRelease.aspx?relid=170026): The Union Cabinet recently gave its approval to the proposal to complete the balance works of the North Koel Reservoir Project (North Koel is a tributary of river Sone which joins the Ganga) in Jharkhand and Bihar. It also approved storage of water in dam restricted at lower level than envisaged earlier to reduce the submergence and to protect Betla National Park and Palamau Tiger Reserve.
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Solution: d.
Options ‘a’, ‘b’ and ‘c’ are all correct. But the most appropriate option is ‘d’ (because, of the given list of conditions, the government can refuse to aid/approve metro rail projects upon non-commitment by states of either or all of the conditions).
• The central government will approve and aid metro rail projects only if they have private participation and ensure last-mile connectivity for users, under a new metro rail policy cleared by the Union cabinet.
o Last-mile connectivity: States must commit to building last-mile connectivity through feeder services, non-motorised transport infrastructure like walking and cycling pathways and para-transport facilities.
o Private participation: Either for complete provision of metro rail or for some unbundled components (like automatic fare collection, operation and maintenance of services, etc), private participation will form an essential requirement for all metro rail projects seeking central financial assistance.
o Innovative financing mechanisms: States need to adopt innovative mechanisms like value capture financing (VCF) tools to mobilize resources for financing metro projects by capturing a share of increase in the asset values.
• Under the new metro rail policy, states will get powers to make rules and regulations and set up permanent fare fixation authorities.
• In line with global best practices, and noting that they should stop turning into white elephants, metro projects will be approved on the basis of ‘Economic Internal Rate of Return of 14%’, a change from the existing ‘Financial Internal Rate of Return of 8%’.
• Different instruments of VCF include: Land Value Tax, Fee for changing land use, Betterment levy, Development charges, Transfer of Development Rights, Premium on relaxation of Floor Space Index and Floor Area Ratio, Vacant Land Tax, Tax Increment Financing, Zoning relaxation for land acquisition and Land Pooling System.
http://www.thehindu.com/news/national/union-cabinet-approves-new-metro-rail-policy/article19503930.ece;
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http://pib.nic.in/newsite/PrintRelease.aspx?relid=170009;
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Solution: c.
Inspite of notification of The Wetlands (Conservation and Management) Rules (amended in 2016) in 2010, not a single wetland in India has been notified by the government under the rules as yet.
• The Convention on Wetlands was adopted in the Iranian city of Ramsar in 1971 and came into force in 1975. Since then, almost 90% of UN member states, from all the world’s geographic regions, have acceded to become “Contracting Parties”.
• The Convention uses a broad definition of wetlands. It includes all lakes and rivers, underground aquifers, swamps and marshes, wet grasslands, peatlands, oases, estuaries, deltas and tidal flats, mangroves and other coastal areas, coral reefs, and all human- made sites such as fish ponds, rice paddies, reservoirs and salt pans.

http://www.ramsar.org/sites/default/files/documents/library/introducing_ramsar_web_eng.pdf;
Improvisation: http://indianexpress.com/article/explained/problem-in-protecting-indias-wetlands-technically-there-arent-any-to-protect-art-of-living-sri-sri-ravi-shankar-ngt-4799954/;
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Solution: b.
A main-examination oriented question.
• This challenge is diametrically opposite to the Blue Whale Challenge which has been linked to many deaths. The Pink Whale Challenge (AKA ‘Baleia Rosa’) “encourages positive and generous acts and attempts to bring happiness in the participant’s daily life.”

http://indianexpress.com/article/what-is/pink-whale-challenge-emerges-as-option-to-counter-blue-whale-suicide-challenge-4799435/
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Solution: b.
After cardiac stents, the government on Wednesday fixed a price range for knee implants from Rs. 54,000 to Rs. 1.14 lakh, nearly 70% lower than most surgeries currently cost. With private hospitals charging exorbitant rates, the government capped the maximum retail price of the knee implants, a move that will save patients an estimated Rs. 1,500 crore annually.

http://www.thehindu.com/todays-paper/tp-national/price-range-fixed-for-knee-implants/article19505870.ece
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http://pib.nic.in/newsite/PrintRelease.aspx?relid=170040
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Solution: d.
• Indian Oil Corporation placed India’s first ever shale oil order two days ago with the U.S. The prices from the U.S. are very competitive even when compared with those from Gulf nations.
• Diversification of oil imports, including from countries like the U.S., as it would put pressure on the OPEC countries to do away with the Asian premium, something India has been arguing for.

http://www.thehindu.com/todays-paper/tp-business/india-aims-to-widen-oil-import-sources/article19505800.ece;
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