INSIGHTS CURRENT Affairs RTM - 2020
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The following Quiz is based on the Hindu, PIB and other news sources. It is a current events based quiz. Solving these questions will help retain both concepts and facts relevant to UPSC IAS civil services exam.
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New Initiative: Revision Through MCQs (RTM) – Revision of Current Affairs Made Interesting
As revision is the key to success in this exam, we are starting a new initiative where you will revise current affairs effectively through MCQs (RTM) that are solely based on Insights Daily Current Affairs.
These questions will be different than our regular current affairs quiz. These questions are framed to TEST how well you have read and revised Insights Current Affairs on daily basis.
We will post nearly 10 MCQs every day which are based on previous day’s Insights current affairs. Tonight we will be posting RTM questions on the Insights current affairs of October 3, 2019.
The added advantage of this initiative is it will help you solve at least 20 MCQs daily (5 Static + 5 CA Quiz + 10 RTM) – thereby helping you improve your retention as well as elimination and guessing skills.
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Question 1 of 10
1. Question
1 pointsConsider the following organizations:
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- Association of Southeast Asian Nations (ASEAN)
- Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC)
- South Asian Association for Regional Cooperation (SAARC)
Both India and Myanmar are members of which of the above organizations?
Correct
Ans: (a)
Explanation:
- ASEAN was established on 8 August 1967 in Bangkok by the five original member countries: Indonesia, Malaysia, Philippines, Singapore, and Thailand. Brunei Darussalam joined on 8 January 1984, Vietnam on 28 July 1995, Laos and Myanmar on 23 July 1997, and Cambodia on 30 April 1999.
- The BIMSTEC member states – Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand – are among the countries dependent on the Bay of Bengal.
- Founded in 1985, the South Asian Association for Regional Cooperation (SAARC) is a regional inter-governmental organisation and geopolitical union of Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka.
Refer: https://www.insightsonindia.com/2021/02/02/military-seizes-power-in-myanmar-coup/
Incorrect
Ans: (a)
Explanation:
- ASEAN was established on 8 August 1967 in Bangkok by the five original member countries: Indonesia, Malaysia, Philippines, Singapore, and Thailand. Brunei Darussalam joined on 8 January 1984, Vietnam on 28 July 1995, Laos and Myanmar on 23 July 1997, and Cambodia on 30 April 1999.
- The BIMSTEC member states – Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand – are among the countries dependent on the Bay of Bengal.
- Founded in 1985, the South Asian Association for Regional Cooperation (SAARC) is a regional inter-governmental organisation and geopolitical union of Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka.
Refer: https://www.insightsonindia.com/2021/02/02/military-seizes-power-in-myanmar-coup/
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Question 2 of 10
2. Question
1 pointsConsider the following statements about the Strengthening Teaching-Learning and Results for States Program (STARS) project:
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- It is a project to improve the quality and governance of school education in 8 Indian Union Territories.
- This project would be implemented as a new Centrally Sponsored Scheme under the Department of School Education and Literacy, Ministry of Education.
Which of the given above statements is/are correct?
Correct
Ans: (b)
Explanation: About the STARS Project:
- STARS stands for Strengthening Teaching-Learning and Results for States Program (STARS).
- STARS project would be implemented as a new Centrally Sponsored Scheme under the Department of School Education and Literacy, Ministry of Education.
- It is a project to improve the quality and governance of school education in six Indian states.
- Six states are- Himachal Pradesh, Kerala, Madhya Pradesh, Maharashtra, Odisha, and Rajasthan.
- Some 250 million students (between the age of 6 and 17) in 1.5 million schools, and over 10 million teachers will benefit from the program.
Refer: https://www.insightsonindia.com/2021/02/02/stars-project-to-develop-education/
Incorrect
Ans: (b)
Explanation: About the STARS Project:
- STARS stands for Strengthening Teaching-Learning and Results for States Program (STARS).
- STARS project would be implemented as a new Centrally Sponsored Scheme under the Department of School Education and Literacy, Ministry of Education.
- It is a project to improve the quality and governance of school education in six Indian states.
- Six states are- Himachal Pradesh, Kerala, Madhya Pradesh, Maharashtra, Odisha, and Rajasthan.
- Some 250 million students (between the age of 6 and 17) in 1.5 million schools, and over 10 million teachers will benefit from the program.
Refer: https://www.insightsonindia.com/2021/02/02/stars-project-to-develop-education/
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Question 3 of 10
3. Question
1 pointsWhat is “PARAKH (Performance Assessment, Review, and Analysis of Knowledge for Holistic Development)”, sometimes seen in the news?
Correct
Ans: (b)
Explanation: PARAKH:
- A major component of the project is the establishment of PARAKH (Performance Assessment, Review, and Analysis of Knowledge for Holistic Development) as a National Assessment Centre.
- Included in the National Education Policy 2020, this autonomous institution under the Union Education Ministry will set norms for student assessment and evaluation for all school boards across the country, most of which currently follow norms set by State governments.
- It will also guide standardised testing to monitor learning outcomes at the State and national levels, according to the NEP.
Refer: https://www.insightsonindia.com/2021/02/02/stars-project-to-develop-education/
Incorrect
Ans: (b)
Explanation: PARAKH:
- A major component of the project is the establishment of PARAKH (Performance Assessment, Review, and Analysis of Knowledge for Holistic Development) as a National Assessment Centre.
- Included in the National Education Policy 2020, this autonomous institution under the Union Education Ministry will set norms for student assessment and evaluation for all school boards across the country, most of which currently follow norms set by State governments.
- It will also guide standardised testing to monitor learning outcomes at the State and national levels, according to the NEP.
Refer: https://www.insightsonindia.com/2021/02/02/stars-project-to-develop-education/
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Question 4 of 10
4. Question
1 pointsWith reference to the Union Government consider the following statements.
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- The Department of Revenue is responsible for the preparation of Union Budget that is presented to the parliament.
- No amount can be withdrawn from the Consolidated Fund of India without the authorization of Parliament of India.
- All the disbursements made from Public Account also need the Authorization from the Parliament of India.
Which of the following statements given above is/are correct?
Correct
Ans: (c)
Explanation:
- The constitution establishes three types of funds – Consolidated Fund of India; Public Account; Contingency Fund.
- Prior authorization is required for withdrawing from Consolidated Fund of India. For Contingency fund of India, withdrawal can be authorized by the Parliament afterwards too. For Public Account, no such authorization is needed.
- Assessing the revenues from different central taxes is the primary function of the Department of Revenue and the expenditure estimates for the current and the next year for various expenditure heads are assessed by the Department of Expenditure. The Department of Expenditure also assesses the resources of the public sector undertakings (PSUs).
- The Budget division is a part of the Department of Economic Affairs. The Finance Secretary coordinates the overall Budget-making process
- What is Budget?
- According to Article 112 of the Indian Constitution, the Union Budget of a year is referred to as the Annual Financial Statement (AFS).
- It is a statement of the estimated receipts and expenditure of the Government in a financial year. In addition to it, the Budget contains:
- Estimates of revenue and capital receipts,
- Ways and means to raise the revenue,
- Estimates of expenditure,
- Details of the actual receipts and expenditure of the closing financial year and the reasons for any deficit or surplus in that year, and
- The economic and financial policy of the coming year, i.e., taxation proposals, prospects of revenue, spending programme and introduction of new schemes/projects.
- The Budget goes through six stages:
- Presentation of Budget.
- General discussion.
- Scrutiny by Departmental Committees.
- Voting on Demands for Grants.
- Passing of Appropriation Bill.
- Passing of Finance Bill.
Refer: https://www.insightsonindia.com/2021/02/02/what-is-budget/
Incorrect
Ans: (c)
Explanation:
- The constitution establishes three types of funds – Consolidated Fund of India; Public Account; Contingency Fund.
- Prior authorization is required for withdrawing from Consolidated Fund of India. For Contingency fund of India, withdrawal can be authorized by the Parliament afterwards too. For Public Account, no such authorization is needed.
- Assessing the revenues from different central taxes is the primary function of the Department of Revenue and the expenditure estimates for the current and the next year for various expenditure heads are assessed by the Department of Expenditure. The Department of Expenditure also assesses the resources of the public sector undertakings (PSUs).
- The Budget division is a part of the Department of Economic Affairs. The Finance Secretary coordinates the overall Budget-making process
- What is Budget?
- According to Article 112 of the Indian Constitution, the Union Budget of a year is referred to as the Annual Financial Statement (AFS).
- It is a statement of the estimated receipts and expenditure of the Government in a financial year. In addition to it, the Budget contains:
- Estimates of revenue and capital receipts,
- Ways and means to raise the revenue,
- Estimates of expenditure,
- Details of the actual receipts and expenditure of the closing financial year and the reasons for any deficit or surplus in that year, and
- The economic and financial policy of the coming year, i.e., taxation proposals, prospects of revenue, spending programme and introduction of new schemes/projects.
- The Budget goes through six stages:
- Presentation of Budget.
- General discussion.
- Scrutiny by Departmental Committees.
- Voting on Demands for Grants.
- Passing of Appropriation Bill.
- Passing of Finance Bill.
Refer: https://www.insightsonindia.com/2021/02/02/what-is-budget/
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Question 5 of 10
5. Question
1 pointsConsider the following statements regarding Fiscal Responsibility and Budget Management (FRBM) Act, 2003.
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- The Act made Central government responsible for ensuring inter-generational equity in fiscal management and long-term macro-economic stability.
- The Act envisages the setting of limits on the Central government’s debt and deficits.
- The law contain an ‘escape clause’ under which Centre can exceed the annual fiscal deficit target.
Which of the above statements is/are correct?
Correct
Ans: (d)
Explanation: What is the FRBM Act?
- Enacted in August 2003, the legislation is aimed at making the Central government responsible for ensuring “inter-generational equity in fiscal management and long-term macro-economic stability”.
- To achieve this, the Act envisages the setting of limits on the Central government’s debt and deficits as well as mandating greater transparency in fiscal operations of the Central government and the conduct of fiscal policy in a medium-term framework.
- The rules for implementing the Act were notified in July 2004 and since then every Budget of the Union government has included a Medium Term Fiscal Policy Statement that specifies the annual revenue and fiscal deficit goals over a three-year horizon.
- The States have also enacted their own respective Financial Responsibility Legislation.
- What are the objectives of the FRBM Act?
- The FRBM Act aims to introduce transparency in India’s fiscal management systems.
- The Act’s long-term objective is for India to achieve fiscal stability and to give the Reserve Bank of India (RBI) flexibility to deal with inflation in India.
- The Act was enacted to introduce more equitable distribution of India’s debt over the years.
- Key features of the FRBM Act:
- The FRBM Act made it mandatory for the government to place the following along with the Union Budget documents in Parliament annually:
- Medium Term Fiscal Policy Statement.
- Macroeconomic Framework Statement.
- Fiscal Policy Strategy Statement.
Refer: https://www.insightsonindia.com/2021/02/02/govt-hopes-to-cut-fiscal-deficit-to-4-5-by-fy26/
Incorrect
Ans: (d)
Explanation: What is the FRBM Act?
- Enacted in August 2003, the legislation is aimed at making the Central government responsible for ensuring “inter-generational equity in fiscal management and long-term macro-economic stability”.
- To achieve this, the Act envisages the setting of limits on the Central government’s debt and deficits as well as mandating greater transparency in fiscal operations of the Central government and the conduct of fiscal policy in a medium-term framework.
- The rules for implementing the Act were notified in July 2004 and since then every Budget of the Union government has included a Medium Term Fiscal Policy Statement that specifies the annual revenue and fiscal deficit goals over a three-year horizon.
- The States have also enacted their own respective Financial Responsibility Legislation.
- What are the objectives of the FRBM Act?
- The FRBM Act aims to introduce transparency in India’s fiscal management systems.
- The Act’s long-term objective is for India to achieve fiscal stability and to give the Reserve Bank of India (RBI) flexibility to deal with inflation in India.
- The Act was enacted to introduce more equitable distribution of India’s debt over the years.
- Key features of the FRBM Act:
- The FRBM Act made it mandatory for the government to place the following along with the Union Budget documents in Parliament annually:
- Medium Term Fiscal Policy Statement.
- Macroeconomic Framework Statement.
- Fiscal Policy Strategy Statement.
Refer: https://www.insightsonindia.com/2021/02/02/govt-hopes-to-cut-fiscal-deficit-to-4-5-by-fy26/
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Question 6 of 10
6. Question
1 pointsWhich of the following developments may not likely reduce the fiscal deficit?
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- Increasing Foreign Direct Investment (FDI)
- Providing budgetary support to public sector enterprises
- Waiving off farm loans.
- Austerity measures should be adopted.
Select the correct answer code:
Correct
Ans: (b)
Explanation:
- Fiscal deficit (FD) is the difference between revenue receipts plus non-debt capital receipts on the one side and total expenditure including loans, net of repayments, on the other. It measures the gap between the government consumption expenditure including loan repayments and the anticipated income from tax and non-tax revenues.
- It also indicates the borrowing requirements of the government from all sources. The bigger the gap the more the government will have to borrow or resort to printing money to make both ends meet. Indiscriminate borrowings will push the economy into debt trap, while too much deficit financing may be inflationary.
- Increasing Foreign Direct Investment (FDI) tend to bring more revenue to the government there by reducing FD.
- Austerity measures are reductions in government spending, increases in tax revenues, or both which can reduce FD.
- Providing budgetary support to public sector enterprises and Waiving off farm loans increase government expenditure thus increasing FD.
Refer: https://www.insightsonindia.com/2021/02/02/govt-hopes-to-cut-fiscal-deficit-to-4-5-by-fy26/
Incorrect
Ans: (b)
Explanation:
- Fiscal deficit (FD) is the difference between revenue receipts plus non-debt capital receipts on the one side and total expenditure including loans, net of repayments, on the other. It measures the gap between the government consumption expenditure including loan repayments and the anticipated income from tax and non-tax revenues.
- It also indicates the borrowing requirements of the government from all sources. The bigger the gap the more the government will have to borrow or resort to printing money to make both ends meet. Indiscriminate borrowings will push the economy into debt trap, while too much deficit financing may be inflationary.
- Increasing Foreign Direct Investment (FDI) tend to bring more revenue to the government there by reducing FD.
- Austerity measures are reductions in government spending, increases in tax revenues, or both which can reduce FD.
- Providing budgetary support to public sector enterprises and Waiving off farm loans increase government expenditure thus increasing FD.
Refer: https://www.insightsonindia.com/2021/02/02/govt-hopes-to-cut-fiscal-deficit-to-4-5-by-fy26/
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Question 7 of 10
7. Question
1 pointsThe term ‘Stardust 1.0’ is sometimes mentioned in media in reference to:
Correct
Ans: (a)
Explanation:
- Stardust 1.0 was launched on Jan 31st from Loring Commerce Centre in Maine, US.
- It has become the first commercial space launch powered by biofuel, which is non-toxic for the environment as opposed to traditionally used rocket fuels.
- Stardust 1.0 is a launch vehicle suited for student and budget payloads.
Refer: https://www.insightsonindia.com/2021/02/02/what-is-stardust-1-0-the-first-rocket-to-run-on-biofuel/
Incorrect
Ans: (a)
Explanation:
- Stardust 1.0 was launched on Jan 31st from Loring Commerce Centre in Maine, US.
- It has become the first commercial space launch powered by biofuel, which is non-toxic for the environment as opposed to traditionally used rocket fuels.
- Stardust 1.0 is a launch vehicle suited for student and budget payloads.
Refer: https://www.insightsonindia.com/2021/02/02/what-is-stardust-1-0-the-first-rocket-to-run-on-biofuel/
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Question 8 of 10
8. Question
1 pointsIt is possible to produce algae based biofuels, but what is/are the likely limitation(s) of developing countries in promoting this industry?
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- Production of algae based biofuels is possible in seas only and not on continents.
- Setting up and engineering the algae based biofuel production requires high level of expertise/technology until the construction is completed.
- Economically viable production necessitates the setting up of large scale facilities which may raise ecological and social concerns.
Select the correct answer using the code given below:
Correct
Ans: (b)
Explanation:
- S1: Algaculture (farming algae) can be initiated on land unsuitable for agriculture or saline water or wastewater. So, 1 is wrong.
- S2: Producing algae for bio-fuels (excluding simple seaweed production) requires significant capital investments, which may be a significant barrier in developing countries that have a weak investment climate.
- Producing biofuels from algae is still in a pre-commercial state of technology development. Most production plants are therefore prototypes, and the development and engineering of such plants requires a high level of expertise.
- S3: Using the land allotted to food crops to algal biofuel reduces the amount of food available for humans, resulting in an increased cost for both the food and the fuel produced. This is an ecological as well as economic concern.
- http://www.climatetechwiki.org/technology/algae
- What are Biofuels?
- Any hydrocarbon fuel that is produced from an organic matter (living or once living material) in a short period of time (days, weeks, or even months) is considered a biofuel.
- Biofuels may be solid, liquid or gaseous in nature.
- Solid: Wood, dried plant material, and manure.
- Liquid: Bioethanol and Biodiesel.
- Gaseous: Biogas.
Source: UPSC CSE 2017
Refer: https://www.insightsonindia.com/2021/02/02/what-is-stardust-1-0-the-first-rocket-to-run-on-biofuel/
Incorrect
Ans: (b)
Explanation:
- S1: Algaculture (farming algae) can be initiated on land unsuitable for agriculture or saline water or wastewater. So, 1 is wrong.
- S2: Producing algae for bio-fuels (excluding simple seaweed production) requires significant capital investments, which may be a significant barrier in developing countries that have a weak investment climate.
- Producing biofuels from algae is still in a pre-commercial state of technology development. Most production plants are therefore prototypes, and the development and engineering of such plants requires a high level of expertise.
- S3: Using the land allotted to food crops to algal biofuel reduces the amount of food available for humans, resulting in an increased cost for both the food and the fuel produced. This is an ecological as well as economic concern.
- http://www.climatetechwiki.org/technology/algae
- What are Biofuels?
- Any hydrocarbon fuel that is produced from an organic matter (living or once living material) in a short period of time (days, weeks, or even months) is considered a biofuel.
- Biofuels may be solid, liquid or gaseous in nature.
- Solid: Wood, dried plant material, and manure.
- Liquid: Bioethanol and Biodiesel.
- Gaseous: Biogas.
Source: UPSC CSE 2017
Refer: https://www.insightsonindia.com/2021/02/02/what-is-stardust-1-0-the-first-rocket-to-run-on-biofuel/
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Question 9 of 10
9. Question
1 pointsThe Prabuddha Bharata, a monthly journal of the Ramakrishna Order started by:
Correct
Ans: (d)
Explanation:
- Prabuddha Bharata:
- 125th anniversary was celebrated of ‘Prabuddha Bharata’,
- It is a monthly journal of the Ramakrishna Order started by Swami Vivekananda.
Refer: facts for prelims: https://www.insightsonindia.com/2021/02/02/insights-daily-current-affairs-pib-summary-2-february-2021/
Incorrect
Ans: (d)
Explanation:
- Prabuddha Bharata:
- 125th anniversary was celebrated of ‘Prabuddha Bharata’,
- It is a monthly journal of the Ramakrishna Order started by Swami Vivekananda.
Refer: facts for prelims: https://www.insightsonindia.com/2021/02/02/insights-daily-current-affairs-pib-summary-2-february-2021/
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Question 10 of 10
10. Question
1 pointsConsider the following statements about Yakshagana:
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- Yakshagana is a traditional theatre form of Karnataka.
- Its stories are drawn from Ramayana, Mahabharata, Bhagavata and other epics from both Hindu and Jain and other ancient Indic traditions.
- It is performed with percussion instruments like chenda, maddalam and jagatta only.
Which of the given above statements is/are correct?
Correct
Ans: (a)
Explanation:
- Yakshagana is a traditional theatre form of Karnataka.
- It is a temple art form that depicts mythological stories and Puranas.
- It is performed with massive headgears, elaborate facial make-up and vibrant costumes and ornaments.
- Usually recited in Kannada, it is also performed in Malayalam as well as Tulu (the dialect of south Karnataka).
- It is performed with percussion instruments like chenda, maddalam, jagatta or chengila (cymbals) and chakratala or elathalam (small cymbals).
- Its stories are drawn from Ramayana, Mahabharata, Bhagavata and other epics from both Hindu and Jain and other ancient Indic traditions.
Refer: Facts for Prelims: https://www.insightsonindia.com/2020/03/24/insights-daily-current-affairs-pib-summary-24-march-2020/
Incorrect
Ans: (a)
Explanation:
- Yakshagana is a traditional theatre form of Karnataka.
- It is a temple art form that depicts mythological stories and Puranas.
- It is performed with massive headgears, elaborate facial make-up and vibrant costumes and ornaments.
- Usually recited in Kannada, it is also performed in Malayalam as well as Tulu (the dialect of south Karnataka).
- It is performed with percussion instruments like chenda, maddalam, jagatta or chengila (cymbals) and chakratala or elathalam (small cymbals).
- Its stories are drawn from Ramayana, Mahabharata, Bhagavata and other epics from both Hindu and Jain and other ancient Indic traditions.
Refer: Facts for Prelims: https://www.insightsonindia.com/2020/03/24/insights-daily-current-affairs-pib-summary-24-march-2020/
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