QUIZ – 2020: Insights Current Affairs Quiz, 29 June 2020

Solution: d)

The Ministry of Human Resource Development (MHRD) has launched a new programme, called Yukti 2.0, which is an online depository for innovative ideas aimed at fostering and promoting innovation among students and teachers. The portal, called Yukti 2.0, was initially promoted with the name Massive Indian Novelty Depository (MIND).

AICTE innovation cell has created the Yukti 2.0 platform in which students across the country will be able to see all the innovations in this platform. And people across the country, whether they are farmers or businessmen and other people working in different parts of the country can access the portal and use innovations that are suitable for them and they work on it.”

Higher education institutions, as well as its teachers and students, can put up their innovations and start-up ideas on the platform to commercialize it.

“The platform is not just a database; it acts like an online market where people who sell ideas and buy ideas will coexist. It will act as the missing link between innovation and commercialization.”

Solution: c)

Government e-Marketplace (GeM) has brought in certain changes to promote ‘Make in India’ and ‘Aatmanirbhar Bharat’. These include:

• It is now mandatory for sellers to enter the Country of Origin while registering all new products on GeM.
• Sellers, who had already uploaded their products before the introduction of this new feature on GeM, have to regularly update the Country of Origin.
• There shall be a provision for indication of the percentage of local content in products.
• ‘Make in India’ filter has now been enabled on the portal. Buyers can choose to buy only those products that meet the minimum 50% local content criteria.

GeM is a state-of-the-art national public procurement platform of Ministry of Commerce and Industries, that has used technology to remove entry barriers for bonafide sellers and has created a vibrant e-marketplace with a wide range of goods and services.

GeM platform is not only used by Government Ministries and Departments, Public Sector Undertakings and other apex autonomous bodies of the Central Government but also several State Governments.

Source

Solution: c)

The World Bank has released new PPPs for the reference year 2017, under the International Comparison Program (ICP), that adjust for differences in the cost of living across economies of the world. Globally, 176 economies participated in 2017 cycle of ICP.

The ICP is the largest worldwide data collection initiative, under the guidance of UN Statistical Commission (UNSC), with the goal of producing PPPs, which are vital for converting measures of economic activities to be comparable across economies.

India has participated in almost all ICP rounds since its inception in 1970.

India has retained its position as the third-largest economy in the world in terms of purchasing power parity (PPP), even as it is way behind the US and China.

India accounts for 6.7 per cent, or $8,051 billion, out of the world’s total of $119,547 billion of global Gross Domestic Product (GDP) in terms of PPP, a measure of relative consumer prices across countries, as against 16.4 per cent in case of China and 16.3 per cent for the United States.

PPP of the rupee per dollar at the gross domestic product (GDP) level rose to 20.65 in 2017 from 15.55 in 2011, while the exchange rate of a dollar to a rupee rose to 65.12 from 46.67 during the period.

Source

Solution: c)

What is the Central Consumer Protection Authority?

The authority is being constituted under Section 10(1) of The Consumer Protection Act, 2019. The Act replaced The Consumer Protection Act, 1986, and seeks to widen its scope in addressing consumer concerns. The new Act recognises offences such as providing false information regarding the quality or quantity of a good or service, and misleading advertisements. It also specifies action to be taken if goods and services are found “dangerous, hazardous or unsafe”.

The CCPA, introduced in the new Act, aims to protect the rights of the consumer by cracking down on unfair trade practices, and false and misleading advertisements that are detrimental to the interests of the public and consumers.

The CCPA will have the powers to inquire or investigate into matters relating to violations of consumer rights or unfair trade practices suo motu, or on a complaint received, or on a direction from the central government.

Source

Solution: b)

The International Court of Justice (ICJ) is the principal judicial body of the UN. Established in 1946 to replace the Permanent Court of International Justice, the ICJ mainly operates under the statute of its predecessor, which is included in the UN Charter.

It has two primary functions: to settle legal disputes submitted by States in accordance with established international laws, and to act as an advisory board on issues submitted to it by authorized international organizations.

Members of the Court:

The International Court of Justice is composed of 15 judges elected to nine-year terms of office by the United Nations General Assembly and the Security Council. These organs vote simultaneously but separately. In order to be elected, a candidate must receive an absolute majority of the votes in both bodies. In order to ensure a measure of continuity, one third of the Court is elected every three years. Judges are eligible for re-election.