The following quiz will have 5-10 MCQs. The questions are mainly framed from The Hindu and PIB news articles.
This quiz is intended to introduce you to concepts and certain important facts relevant to UPSC IAS civil services preliminary exam 2021. It is not a test of your knowledge. If you score less, please do not mind. Read again sources provided and try to remember better.
Please try to enjoy questions, discuss the concepts and facts they try to test from you and suggest improvements.
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INSIGHTS CURRENT AFFAIRS QUIZ 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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Question 1 of 5
1. Question
1 pointsConsider the following statements regarding Ever-greening of Loans.
- Ever-greening loans is lending a new loan to a borrower on the verge of default, near the repayment date of an existing loan, to facilitate its repayment.
- Banks are required to disclose them like they disclose the restructurings of loans.
Which of the above statements is/are correct?
Correct
Solution: a)
Ever-greening loans is lending a new loan to a borrower on the verge of default, near the repayment date of an existing loan, to facilitate its repayment (Tantri, 2020). Such transactions go undetected as banks are not required to disclose them, unlike restructurings that warrant disclosures.
Source: Economic Survey 2020-21 Vol-1
Incorrect
Solution: a)
Ever-greening loans is lending a new loan to a borrower on the verge of default, near the repayment date of an existing loan, to facilitate its repayment (Tantri, 2020). Such transactions go undetected as banks are not required to disclose them, unlike restructurings that warrant disclosures.
Source: Economic Survey 2020-21 Vol-1
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Question 2 of 5
2. Question
1 pointsConsider the following statements.
- India has consistently improved in its Global Innovation Index (GII) Performance from 2015 to 2020.
- 2. The government sector contribution in India’s gross domestic expenditure on R&D (GERD) is lower than business sector’s contribution.
Which of the above statements is/are correct?
Correct
Solution: a)
India’s gross domestic expenditure on R&D (GERD) is lowest amongst other largest economies.
The government sector contributes a disproportionate large share in total GERD at three times the average of other largest economies. However, the business sector’s contribution to GERD is amongst the lowest. The business sector’s contribution to total R&D personnel and researchers also lags behind that in other large economies.
Source: Economic Survey 2020-21 Vol-1
Incorrect
Solution: a)
India’s gross domestic expenditure on R&D (GERD) is lowest amongst other largest economies.
The government sector contributes a disproportionate large share in total GERD at three times the average of other largest economies. However, the business sector’s contribution to GERD is amongst the lowest. The business sector’s contribution to total R&D personnel and researchers also lags behind that in other large economies.
Source: Economic Survey 2020-21 Vol-1
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Question 3 of 5
3. Question
1 pointsConsider the following statements regarding Fiscal Deficit.
- Fiscal deficit is reflective of the total borrowing requirements of the Government.
- A higher fiscal deficit can lead to higher interest rates in the economy.
Which of the above statements is/are incorrect?
Correct
Solution: d)
Fiscal Deficit is “reflective of the total borrowing requirements of the Government”.
If the fiscal deficit ratio is too high, it implies that there is a lesser amount of money left in the market for private entrepreneurs and businesses to borrow.
Lesser amount of this money, in turn, leads to higher rates of interest charged on such lending.
So, simply put, a higher fiscal deficit means higher borrowing by the government, which, in turn, mean higher interest rates in the economy.
A high fiscal deficit and higher interest rates would also mean that the efforts of the Reserve Bank of India to reduce interest rates are undone.
Incorrect
Solution: d)
Fiscal Deficit is “reflective of the total borrowing requirements of the Government”.
If the fiscal deficit ratio is too high, it implies that there is a lesser amount of money left in the market for private entrepreneurs and businesses to borrow.
Lesser amount of this money, in turn, leads to higher rates of interest charged on such lending.
So, simply put, a higher fiscal deficit means higher borrowing by the government, which, in turn, mean higher interest rates in the economy.
A high fiscal deficit and higher interest rates would also mean that the efforts of the Reserve Bank of India to reduce interest rates are undone.
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Question 4 of 5
4. Question
1 pointsWhich of the following are the reasons that can be attributed to the frequent landslides and debris avalanches in Himalayan region?
- The Himalayas are tectonically stable.
- They are mostly made up of sedimentary rocks and unconsolidated deposits.
- The slopes are very steep.
Select the correct answer code:
Correct
Solution: c)
The reasons that can be attributed to the frequent landslides and debris avalanches in Himalayan region are
(i) The Himalayas are tectonically active. Thus, tectonically unstable.
(ii) They are mostly made up of sedimentary rocks and unconsolidated and semi-consolidated deposits.
(iii) The slopes are very steep.
Incorrect
Solution: c)
The reasons that can be attributed to the frequent landslides and debris avalanches in Himalayan region are
(i) The Himalayas are tectonically active. Thus, tectonically unstable.
(ii) They are mostly made up of sedimentary rocks and unconsolidated and semi-consolidated deposits.
(iii) The slopes are very steep.
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Question 5 of 5
5. Question
1 pointsConsider the following statements.
- National Food Security Act, 2013 (NFSA) provides a legal basis for the public distribution system (PDS).
- Commission for Agricultural Costs & Prices (CACP) that recommend minimum support price (MSP) is a statutory body set up through an Act of Parliament.
- Sugar cane pricing is governed by the Sugarcane (Control) Order, 1966 issued under the Essential Commodities Act.
Which of the above statements is/are correct?
Correct
Solution: b)
The National Food Security Act, 2013 (NFSA) provides a legal basis for the public distribution system (PDS). The NFSA made access to the PDS a right, entitling every person belonging to a “priority household” to receive 5 kg of foodgrains per month at a subsidised price not exceeding Rs 2/kg for wheat and Rs 3/kg for rice. Priority households were further defined so as to cover up to 75% of the country’s rural population and 50% in urban areas.
MSP, by contrast, is devoid of any legal backing. Access to it, unlike subsidised grains through the PDS, isn’t an entitlement for farmers. They cannot demand it as a matter of right.
CACP is a statutory body set up through an Act of Parliament. “CACP is an attached office of the Ministry of Agriculture and Farmers Welfare, Government of India”. It recommends MSPs.
Sugarcane pricing being governed by the Sugarcane (Control) Order, 1966 issued under the Essential Commodities Act. That order, in turn, provides for the fixation of a ‘fair and remunerative price’ (FRP) for cane during every sugar year (October-September).
Incorrect
Solution: b)
The National Food Security Act, 2013 (NFSA) provides a legal basis for the public distribution system (PDS). The NFSA made access to the PDS a right, entitling every person belonging to a “priority household” to receive 5 kg of foodgrains per month at a subsidised price not exceeding Rs 2/kg for wheat and Rs 3/kg for rice. Priority households were further defined so as to cover up to 75% of the country’s rural population and 50% in urban areas.
MSP, by contrast, is devoid of any legal backing. Access to it, unlike subsidised grains through the PDS, isn’t an entitlement for farmers. They cannot demand it as a matter of right.
CACP is a statutory body set up through an Act of Parliament. “CACP is an attached office of the Ministry of Agriculture and Farmers Welfare, Government of India”. It recommends MSPs.
Sugarcane pricing being governed by the Sugarcane (Control) Order, 1966 issued under the Essential Commodities Act. That order, in turn, provides for the fixation of a ‘fair and remunerative price’ (FRP) for cane during every sugar year (October-September).
