[Mission 2022] QUIZ – 2021: Insights Current Affairs Quiz ,13 December 2021

Solution: a)

Ambergris, which means gray amber in French, is a waxy substance that originates from the digestive system of the protected sperm whales. 

While there is a ban on possession and trade of ambergris in countries like the USA, Australia and India, in several other countries it is a tradable commodity, though with limitations in some of them. In the Indian context, the sperm whales are a protected species under Schedule 2 of the Wildlife Protection Act and possession or trade of any of its by-products, including Ambergris and its byproducts, is illegal under provisions of the Wildlife Protection Act, 1972.

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Solution: b)

India’s GST architecture is built on the firm foundations of a GST Council and the GST Network (GSTN). The first is the key decision-making body, chaired by the Union Finance Minister with a Minister of State in charge of Finance and the Finance Ministers of States as members. 

GSTN generates high frequency data and subjects them to analytics for informed policy making.

Designed on the principle of destination-based consumption taxation, with seamless provision for input tax credit.

GST is applicable to all goods and services except alcohol for human consumption and five specified petroleum products with a common threshold exemption applicable to both CGST and SGST.

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Solution: d)

CGST levied by the Centre, SGST by the States, UTGST by the Union Territories, and IGST levied on inter-State supply including imports, GST is applicable to all goods and services except alcohol for human consumption and five specified petroleum products with a common threshold exemption applicable to both CGST and SGST.

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Solution: c)

The Global Multidimensional Poverty Index (MPI) was developed in 2010 by the Oxford Poverty & Human Development Initiative (OPHI) and the United Nations Development Programme and uses health, education and standard of living indicators to determine the incidence and intensity of poverty experienced by a population.

Each dimension (health, education, standard of living, etc.) is typically given an equal weighting, and each indicator within the dimension is also typically weighted equally.

Solution: d)

What is the objective of studying the interactions of trace metals and marine plant and animal life?

• Trace metals like cadmium or copper are supplied to oceans via continental run-offs, atmospheric deposition, hydrothermal activities and continental shelf interaction.
• They are essential for ocean productivity. Scientists say that it is important to understand the interactions of trace metals with marine biota “for having a holistic understanding about nutrient cycling and productivity of the oceans”.
• Apart from their reactions on marine life, isotopic forms of trace metals can be utilised to track the movement of water masses responsible for ocean circulation and as tools to study the biological, geochemical and ecosystem processes and food web analyses.