[MISSION 2022] INSIGHTS CURRENT AFFAIRS ( 01 April 2022 ) REVISION THROUGH MCQS

Ans: (d)

Explanation: Parliamentary Approval and Duration:

• A proclamation imposing President’s Rule must be approved by both the Houses of Parliament within two months from the date of its issue.
• The approval takes place through simple majority in either House, that is, a majority of the members of the House present and voting.
• Initially valid for six months, the President’s Rule can be extended for a maximum period of three years with the approval of the Parliament, every six months.
• Report of the Governor:
  • Under Article 356, President’s Rule is imposed if the President, upon receipt of the report from the Governor of the State or otherwise, is satisfied that a situation has arisen in which the government of the State cannot be carried on in accordance with the provisions of the Constitution.
• Revocation:
  • A proclamation of President’s Rule may be revoked by the President at any time by a subsequent proclamation.
  • Such a proclamation does not require parliamentary approval.

Refer: https://www.insightsonindia.com/2022/04/01/imposition-of-article-356-2/

Ans: (b)

Explanation:

• Statement 1: Article 366 contains the definitions of various terms used in different provisions of the constitution, including Proclamation of Emergency. “Proclamation of Emergency” means a Proclamation issued under clause (1) of article 352.
• Statement 2: A proclamation declaring financial emergency must be approved by both the Houses of Parliament within two months from the date of its issue. However, if the proclamation of Financial Emergency is issued at a time when the Lok Sabha has been dissolved or the dissolution of the Lok Sabha takes place during the period of two months without approving the proclamation, then the proclamation survives until 30 days from the first sitting of the Lok Sabha after its reconstitution, provided the Rajya Sabha has in the meantime approved it.
• Statement 3: A resolution approving the proclamation of financial emergency can be passed by either House of Parliament only by a simple majority, that is, a majority of the members of that house present and voting.

Refer: https://www.insightsonindia.com/2022/04/01/imposition-of-article-356-2/

Ans: (c)

Explanation:

• “Raising and Accelerating MSME Performance” (RAMP) is a World Bank assisted Central Sector Scheme.
• It has been launched to support various Resilience and Recovery Interventions of the Ministry of Micro, Small and Medium Enterprises (MoMSME).
• In addition to building the MoMSME’s capacity at the national level, the RAMP program will seek to scale up implementation capacity and MSME coverage in States.

Refer: https://www.insightsonindia.com/2022/04/01/raising-and-accelerating-msme-performance-ramp/

Ans: (a)

Explanation:

• S3: The scheme has been approved with a financial outlay of Rs.1037.90 crore including Central share of Rs.700.00 crore and State share of Rs.337.90 crore.
• S2: Implementation:
  • The scheme will be implemented through volunteerism through online mode.
  • The training, orientation, workshops of volunteers, may be organized through face-to-face mode. All material and resources shall be provided digitally.
  • School will be Unit for implementation of the scheme.
  • Schools to be used for conducting surveys of beneficiaries and Voluntary Teachers.
• S1: The Union of India has approved a Centrally Sponsored Scheme, namely, “New India Literacy Programme (NILP)”.

Refer: https://www.insightsonindia.com/2022/04/01/new-india-literacy-programme/

Ans: (a)

Explanation:

• The MSP is the rate at which the government purchases crops from farmers, and is based on a calculation of at least one-and-a-half times the cost of production incurred by the farmers.
• The Union Budget for 2018-19 had announced that MSP would be kept at levels of 1.5 the cost of production.
• The MSP is fixed twice a year on the recommendations of the Commission for Agricultural Costs and Prices (CACP), which is a statutory body and submits separate reports recommending prices for kharif and rabi seasons.

Refer: https://www.insightsonindia.com/2022/04/01/minimum-support-price-msp-4/

Ans: (c)

Explanation:

• The eight core sector industries include coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity.
• The eight core industries comprise nearly 40% of the weight of items included in the Index of Industrial Production (IIP).
  • The eight Core Industries in decreasing order of their weightage: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers.
• The IIP index is computed and published by the Central Statistical Organisation (CSO) on a monthly basis.

Refer: facts for prelims: https://www.insightsonindia.com/2022/04/01/mission-2022-insights-daily-current-affairs-pib-summary-01-april-2022/

Ans: (a)

Explanation:

• The two indices differ in the manner in which weightages are assigned. This applies to food, fuel and manufactured items as well as their sub-segments. E.g. weightage of food in CPI is far higher (46%) than in WPI (24%). Also, WPI does not capture changes in the prices of services but CPI does.
• The Reserve Bank of India (RBI) had adopted the 2Consumer Price Index (CPI) (combined) as the key measure of inflation.
  • Earlier, RBI had given more weightage to Wholesale Price Index (WPI) than CPI as the key measure of inflation for all policy purposes.

Refer: facts for prelims: https://www.insightsonindia.com/2022/04/01/mission-2022-insights-daily-current-affairs-pib-summary-01-april-2022/

Ans: (d)

Explanation: What is ENA?

• It is a byproduct of the sugar industry.
• Formed from molasses that are a residue of sugarcane processing.
• It is the primary raw material for making alcoholic beverages.
• Features:
• It is colourless food-grade alcohol that does not have any impurities.
• It has a neutral smell and taste and typically contains over 95 per cent alcohol by volume.
• Other applications of ENA:
  • An essential ingredient in the manufacture of cosmetics and personal care products such as perfumes, toiletries, hair spray, etc.
  • Utilized in the production of some lacquers, paints and ink for the printing industry, as well as in pharmaceutical products such as antiseptics, drugs, syrups, medicated sprays.

Refer: facts for prelims: https://www.insightsonindia.com/2022/04/01/mission-2022-insights-daily-current-affairs-pib-summary-01-april-2022/

Ans: (c)

Explanation:

• RBI does not issue CDs to corporations, so S2 is wrong.
• S4 is incorrect too. Zero Coupon Bonds are G-secs that are issued at a discount and redeemed at par. No interest payment is made on such bonds at periodic intervals before maturity.

Refer: UPSC CSE 2020

Ans: (a)

Explanation:

• The interest coverage ratio is a debt ratio and profitability ratio used to determine how easily a company can pay interest on its outstanding debt. The interest coverage ratio may be calculated by dividing a company’s earnings before interest and taxes (EBIT) during a given period by the company’s interest payments due within the same period.
• A higher coverage ratio is better, although the ideal ratio may vary by industry.

Refer: UPSC CSE 2020