[MISSION 2023] RTM(Revision through MCQs)- 01 Feb 2023

Ans: (b)

Explanation:

• It provides a detailed report of the state of the national economy (from agriculture to unemployment to infrastructure) for the year that is coming to a close (2022-23) with forecasts of the upcoming financial year (2023-24).
• It is prepared by the Economic Division of the Department of Economic Affairs (DEA), Ministry of Finance, under the guidance of the chief economic adviser (CEA).
• Once prepared, the Survey is approved by the Finance Minister and the comments or policy solutions contained in the Survey are not binding on the government.
• The first Economic Survey was presented for 1950-51 and until 1964, it was presented along with the Budget.

Refer: https://www.insightsonindia.com/2023/02/01/economic-survey-2023-here-are-the-key-takeaways/

Ans: (a)

Explanation:

• It is a statutory body and was the outcome of Rangarajan Commission. The Chief Statistician of India is the secretary of NSC. It works under the office of CSO (Central Statistical Office) and National Sample Survey Organisation (NSSO).

Refer: https://www.insightsonindia.com/2023/02/01/21st-century-india-needs-a-real-time-fiscal-data-portal/

Ans: (a)

Explanation: About e-Gram SWARAJ Portal:

• As a part of Panchayat Enterprise Suite (PES) under the e-Panchayat Mission Mode Project (MMP), the portal aims at capacity building of its functionaries using technological interventions.
• Other initiatives: The PRIASoft (Panchayati Raj Institutions Accounting Software) is the Online Payment Module whereby Gram Panchayats are carrying out online payments to the vendors and service providers.

Refer: https://www.insightsonindia.com/2023/02/01/mission-2023-insights-daily-current-affairs-pib-summary-1-february-2023/

Ans: (b)

Explanation:

Refer: https://www.insightsonindia.com/2023/02/01/mission-2023-insights-daily-current-affairs-pib-summary-1-february-2023/

Ans; (b)

Explanation: Who are Institutional Investors or Qualified Institutional Investors (QIIs)?

• Commercial banks, mutual fund houses, public financial institutions, and foreign portfolio investors fall under this category. SEBI has mandated that QIIs cannot be allocated more than 50% of shares

Refer: https://www.insightsonindia.com/2023/02/01/mission-2023-insights-daily-current-affairs-pib-summary-1-february-2023/

Ans: (b)

Explanation:

• In its recent update of the World Economic Outlook (WEO) report, the IMF has marginally improved the forecast for global growth in 2023 — a relief, given the fears of a global recession in 2023.
• The IMF releases the WEO twice every year, in April and October, apart from updating it twice — in January and July.

Refer: https://www.insightsonindia.com/2023/02/01/mission-2023-insights-daily-current-affairs-pib-summary-1-february-2023/

Ans: (c )

Explanation:

• A property of quantum systems where particles exhibit correlated behavior
• Explanation: Quantum coherence refers to the correlation and phase relationship between particles in a quantum system. It allows quantum systems to display behaviors that are not seen in classical systems, such as superposition and interference.

Refer: https://www.insightsonindia.com/2023/02/01/mission-2023-insights-daily-current-affairs-pib-summary-1-february-2023/

Ans: (a)

Explanation:

• The Biligiri Rangaswamy Temple Tiger Reserve (BRT) is located in Chamarajanagar district of Karnataka State. This unique Bio-geographical habitat is in the middle of the bridge between Western and Eastern ghats in South India.

Refer: https://www.insightsonindia.com/2023/02/01/mission-2023-insights-daily-current-affairs-pib-summary-1-february-2023/

Ans: (d)

Explanation:

• Option A and D are examples of human capital and option B is physical capital.
• Straight from Wikipedia: “Social capital broadly refers to those factors of effectively functioning social groups that include such things as interpersonal relationships, a shared sense of identity, a shared understanding, shared norms, shared values, trust, cooperation, and reciprocity.” Option D is the correct answer.

Refer: UPSC CSE 2019

Ans: (b)

Explanation:

• Deposits are a liability on a commercial bank, since it must return its lenders the amount it owes them. Answer is B.
• Loans and Advances form assets of the bank. Also, Investments form the second largest component in the assets side of banks’ balance sheets after loans and advances as per a recent RBI report, see https://rbi.org.in/scripts/PublicationsView.aspx?Id=18743 (sec 2.4)
• So, the assets of the commercial bank in India are Cash in hand, Investments, Loans, Advances, Bills discounted and purchased, while the liabilities are Capital and Reserves, Deposits, Borrowings, and other liabilities.

Refer: UPSC CSE 2019