DAY – 37 ( INSTA REVISION TEST)INSTA REVISION PLAN 2.0, 2020

Solution: B

The India VIX was launched by National Stock Exchange (NSE) in 2010. India VIX is a volatility index based on the NIFTY Index Option prices. From the best bid-ask prices of NIFTY Options contracts, a volatility figure (%) is calculated which indicates the expected market volatility over the next 30 calendar days. India VIX uses the computation methodology of CBOE, with suitable amendments to adapt to the NIFTY options order book.

India VIX indicates the Indian market’s volatility from the investor’s perception. India VIX values will be computed in percentage terms upto 4 decimals as market participants like to measure the impact on prices on account of small changes in volatility.

https://www1.nseindia.com/content/indices/India_VIX_Fact_Sheet.pdf

Solution: D

iDEX is an initiative taken by the government to contribute towards modernization of the Defence Industry.

iDEX will be funded and managed by a “Defence Innovation Organisation (DIO)‟ formed as a “not for profit‟ company as per Section 8 of the Companies Act 2013 for this purpose.

The modalities of implementation of DIF will be managed by a specialized team known as the Innovation for Defence Excellence (iDEX) within the DIO. DIO will provide high level policy guidance to iDEX. iDEX will have functional autonomy.
The CEO of iDEX will be selected and recruited by the DIO and will be a professional person of sound technical, scientific and engineering background with divergent knowledge and experience in innovation and research. CEO of iDEX would also be CEO of DIO thereby providing the linkage between the high level policy guidance given by DIO and its implementation in a professional manner through iDEX.

https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1607716

https://idex.gov.in/about/about-dio.html

Solution: A

Siberian Ibex or Capra sibirica is concentrated in multiple mountain ranges throughout central Asia, as far north as southern Siberia. There are multiple, distinct populations in Mongolia and China, and throughout the central Asian ranges to Afghanistan and Pakistan.

It is classified as Least Concern under IUCN Red List

https://www.thehindu.com/sci-tech/energy-and-environment/himalayan-ibex-a-distinct-species/article31201581.ece

Solution: C

The World Happiness Report is an annual publication of the United Nations Sustainable Development Solutions Network. It contains articles, and rankings of national happiness based on respondent ratings of their own lives, which the report also correlates with various life factors.

https://www.unsdsn.org/media-roundup-of-the-world-happiness-report-2020

Solution: D

Indian Institute of Technology, Gandhinagar (IITGN) has launched Project Isaac to engage its students in creative projects to enhance their critical skills while they are confined to their homes because of Corona virus.
The official release said, the project is inspired by Sir Isaac Newton, who was similarly sent home by Trinity College, Cambridge, because of the Great Plague of London in 1665. During this year, Newton, then a 22-year-old college student developed some of his most profound discoveries, including early calculus, as well as his theories of optics and gravity.
As part of the project, four different competitions are being organized by IIT, Gandhinagar to cultivate new skills among students regarding writing, painting, coding, music, creative expression, and so on. Students can take part in competitions online. Nearly 40 per cent of IITGN students are already participating in various activities, which are entirely voluntary.

http://www.newsonair.com/News?title=IIT-Gandhinagar-launches-Project-%26%2339%3BIsaac%26%2339%3B-to-engage-students-in-creative-projects-during-Corona-lockdown&id=383884

Solution: A

Scientists from Agharkar Research Institute (ARI), Pune, an autonomous institute under the Department of Science & Technology, Government of India, have developed a biofortified durum wheat variety MACS 4028, which shows high protein content.

The wheat variety developed by the ARI scientists group on Wheat improvement, shown high protein content of about 14.7%, better nutritional quality having zinc 40.3 ppm, and iron content of 40.3ppm and 46.1ppm respectively, good milling quality and overall acceptability.

MACS 4028, the development of which was published in the Indian Journal of Genetics and Plant Breeding, is a semi-dwarf variety, which matures in 102 days and has shown the superior and stable yielding ability of 19.3 quintals per hectare. It is resistant to stem rust, leaf rust, foliar aphids, root aphids, and brown wheat mite.

The MACS 4028 variety is also included by the Krishi Vigyan Kendra (KVK) programme for United Nations Children’s Fund (UNICEF) to alleviate malnutrition in a sustainable way and can boost the Vision 2022 “Kuposhan Mukt Bharat”, the National Nutrition Strategy. An endeavor to tackle the hidden hunger in the rural areas of India is being continued using traditional plant breeding approach to achieve “Kuposhan Mukt Bharat.”

https://pib.gov.in/PressReleasePage.aspx?PRID=1608064

Solution: C

The Central Drugs Standard Control Organization (CDSCO) is the Central Drug Authority for discharging functions assigned to the Central Government under the Drugs and Cosmetics Act.

Major Functions of the organization are: Regulatory control over the import of drugs, approval of new drugs and clinical trials, meetings of Drugs Consultative Committee (DCC) and Drugs Technical Advisory Board (DTAB), approval of certain licenses as Central License Approving Authority is exercised by the CDSCO headquarters.

Under the Drug and Cosmetics Act, the regulation of manufacture, sale and distribution of Drugs is primarily the concern of the State authorities while the Central Authorities are responsible for approval of New Drugs, Clinical Trials in the country, laying down the standards for Drugs, control over the quality of imported Drugs, coordination of the activities of State Drug Control Organisations and providing expert advice with a view of bring about the uniformity in the enforcement of the Drugs and Cosmetics Act.

Drug Controller General of India is responsible for approval of licenses of specified categories of Drugs such as blood and blood products, I. V. Fluids, Vaccine and Sera. Central Drugs Standard Control Organization Head quarter is located in New Delhi and functions under the Directorate General of Health Services.

https://cdsco.gov.in/opencms/opencms/en/About-us/Functions/

Solution: B

The literal meaning of the word Teesta is Trishna (desire) which never ends. The legend of the Teesta River is mentioned in KalikaPurana. Among the other rivers of northern India, Teesta River is also called as younger daughter of Himalaya.

The Teesta River originates from the Pahunri (or Teesta Kangse) glacier above 7,068 m, and flows southward through gorges and rapids in the Sikkim Himalaya. The river then flows past the town of Rangpo where the Rangpo River joins, and where it forms the border between Sikkim and West Bengal up to Teesta Bazaar. Just before the Teesta Bridge, where the roads from Kalimpong and Darjeeling join, the river is met by its main tributary, the Rangeet River. At this point, it changes course southwards flowing into West Bengal. The river then goes merging up with the Brahmaputra River after it bifurcates the city of Jalpaiguri and flows just touching Cooch Behar district at Mekhliganj and moves to Fulchori in Bangladesh. Teesta river ultimately drains into Brahmaputra at Teestamukh Ghat in Kamarjani- Bahadurabad in Rangpur district of Bangladesh. Teesta and most of its tributaries are flashy mountain rivers and carry boulders and considerable quantity of sediment. The flow is turbulent and characterised by high velocities.

The Teesta basin in India extends over an area of 9,855 sq.km, which is nearly 0.28% of the total geographical area of the country. The basin lies in the states of Sikkim (72.43%) and West Bengal (27.57%).

http://www.cwc.gov.in/tbo/about-basins

Solution: A

The International Fund for Animal Welfare (IFAW) is one of the largest animal welfare and conservation charities in the world. The organization works to rescue individual animals, safeguard populations, preserve habitat, and advocate for greater protections. Brian Davies founded IFAW.

IFAW was instrumental in ending the commercial seal hunt in Canada. In 1983 Europe banned all whitecoat harp seals products. This ban helped save over 1 million seals. IFAW operates in over 40 countries

IFAW partners with elephant and rhino orphanages in Zambia, Zimbabwe and India, where the focus is on rescue, rehabilitation, release, and post-release monitoring and protection

IFAW’s Wildlife Crime program works to reduce demand for wildlife products, wildlife cybercrime and live animal exploitation and trafficking around the world.

https://www.ifaw.org/international

https://www.thehindu.com/sci-tech/energy-and-environment/fundraiser-to-secure-96-elephant-corridors/article26178622.ece

Solution: C

The Biological Weapons Convention (BWC) is a legally binding treaty that outlaws biological arms. After being discussed and negotiated in the United Nations’ disarmament forum starting in 1969, the BWC opened for signature on April 10, 1972, and entered into force on March 26, 1975.

It currently has 183 states-parties, including Palestine, and four signatories (Egypt, Haiti, Somalia, Syria, and Tanzania). Ten states have neither signed nor ratified the BWC (Chad, Comoros, Djibouti, Eritrea, Israel, Kiribati, Micronesia, Namibia, South Sudan and Tuvalu).

Terms of the Treaty

The BWC bans:

• The development, stockpiling, acquisition, retention, and production of:
  1. Biological agents and toxins “of types and in quantities that have no justification for prophylactic, protective or other peaceful purposes;”
  2. Weapons, equipment, and delivery vehicles “designed to use such agents or toxins for hostile purposes or in armed conflict.”
• The transfer of or assistance with acquiring the agents, toxins, weapons, equipment, and delivery vehicles described above.

Verification

• The treaty regime mandates that states-parties consult with one another and cooperate, bilaterally or multilaterally, to solve compliance concerns.

https://www.un.org/disarmament/wmd/bio/

Solution: A

The United Nations Secretariat held a meeting of what it calls the “6+2+1” group on regional efforts to support peace in Afghanistan, a group that includes six neighbouring countries: China, Iran, Pakistan, Tajikistan, Turkmenistan and Uzbekistan; global players the United States and Russia, and Afghanistan itself. India was conspicuous by its absence from the meeting on April 16, given its historical and strategic ties with Afghanistan, but not for the first time.

https://www.thehindu.com/opinion/lead/afghan-peace-and-indias-elbow-room/article31466678.ece

Solution: B

The legislative intent of the DM Act was to, “provide for the effective management of disasters”. The National Disaster Management Authority (NDMA) under the DM Act is the nodal central body for coordinating disaster management, with the Prime Minister as its Chairperson. The NDMA lays down policies, plans and guidelines for management of disaster (S.6).

Similarly, State, District and Local level Disaster Management Authorities were established, manned by high functionaries. All these agencies are envisaged to work in coordination.

All State Governments are mandated under Section 14 of the act to establish a State Disaster Management Authority (SDMA). The SDMA consists of the Chief Minister of the State, who is the Chairperson, and no more than eight members appointed by the Chief Minister.  State Executive Committee is responsible (Section 22) for drawing up the state disaster management plan, and implementing the National Plan.

https://www.theweek.in/news/india/2020/04/26/covid-19-and-the-ambit-of-the-disaster-management-act.html

Solution: D

National Productivity Council (NPC) is national level organization to promote productivity culture in India. It is established by the Ministry of Commerce and Industry, Government of India in 1958, it is an autonomous, multipartite, non-profit organization.

NPC is a constituent of the Tokyo-based Asian Productivity Organisation (APO), an Intergovernmental Body, of which the Government of India is a founder member.

https://dipp.gov.in/about-us/autonomous-institutionss/national-productivity-council

Solution: C

A high-level trade panel estimates that India could recover up to $500 billion of black money stashed overseas if it implements its proposal to issue a type of long-term government bond to those with undisclosed wealth. The High Level Advisory Group on Trade Policy (HLAG), which released its recommendations to boost India’s trade this week, intends for the money collected via this mechanism to be used towards funding infrastructure projects in the country.

These ‘elephant bonds’ would be an avenue for people to bring their offshore undisclosed wealth into India without fear of prosecution, suggests the report. Subscribers will invest 40 per cent of their undisclosed wealth in the bonds and will be issued a fixed coupon security.

An Elephant Bond is a 25-year sovereign bond. This bond is issued to those people who declare their previously undisclosed income and are then bound to invest 50% of that amount in these securities.

The fund gathered by the issuance of these bonds is utilized to finance infrastructure projects only.

https://www.financialexpress.com/market/black-money-elephant-bonds-can-help-india-recover-500-billion-stashed-abroad-says-govt-panel/1752504/

Solution: C

Sectors in which FDI is prohibited

• Lottery businesses, Gambling and betting.
• Chitfunds
• Realestate business excluding construction and REITs.
• Manufacturing of cigars, cheroots, cigarillos and cigarettes etc.

Along with this, sectors are not open to private sector investment such as atomic energy and railway operations.