[Mission 2024] Current Affairs Quiz , 14 July 2023

Solution: b)

Statement 2 is incorrect.

Foreign exchange reserves are maintained as a multi-currency portfolio comprising major currencies such as the US dollar, Euro, Pound sterling, and Japanese yen, among others, but are valued in terms of US dollars. When the dollar strengthens, the valuation of other currencies vis-à-vis the US currency declines, leading to notional fall in the overall reserves position.

The RBI also keeps the forex reserves in the dollar-denominated assets like the 10-year benchmark securities of the US and UK. Since the yields of these assets rose in 2022, it impacted India’s foreign exchange reserves.

Besides valuation loss, the forex reserves also declined as the Reserve Bank sold dollars in the spot market to smoothen the sudden fluctuations in the rupee’s movement caused by outflows from foreign investors.

India’s foreign exchange reserves are mainly composed of US dollar in the forms of US government bonds and institutional bonds.

Solution: d)

he Union Cabinet has cleared a ₹17,490-crore National Green Hydrogen (NGH) mission that aims to facilitate the production of hydrogen from renewable energy. Hydrogen is an essential industrial fuel that has a range of uses from producing ammonia, making steel and cement, to powering fuel cells that can run buses and cars. However, the cheapest way to manufacture this is to rely on fossil fuel such as coal and natural gas and this produces carbon emissions. The concerns over global warming and the gradual but steady embrace of alternative fuels have stoked the world’s interest in producing hydrogen from renewable energy sources such as solar and wind energy.

The NGH mission aims to create an enabling environment for the Indian industry to develop the infrastructure to produce and transport green hydrogen from certain nerve centres to production hubs where they can be used in various industrial applications. The NGH mission has committed to finance — the details are not yet available — the manufacturing of electrolysers, which use electricity to split water into hydrogen and oxygen. 

Green hydrogen, because of the entailed expenses, currently accounts for less than 1% of global hydrogen production and India’s aim is to become a global, industrial hub and exporter of such hydrogen.

Solution: a)

Only statement 2 is correct.

While the Earth is a good conductor of electricity, it is electrically neutral.

In 2019-20, about 1.4 crore lightning strikes were recorded, which increased to 1.85 crore in 2020-21.

In 2021-22, about 1.49 crore strikes were recorded across the country. The reduction, in line with the trend observed globally, has been attributed to the impact of the Covid-19 pandemic.

“The reason attributed to reduction in lightning is due to Covid-2019 pandemic induced reduction in aerosol level, pollution, environmental upgradation and relatively stable weather system in Indian subcontinent,” the annual lightning report said.

But most of this reduction was seen in the cloud-to-cloud lightning. Of the strikes that reach the Earth, only a 2.5% reduction was observed.

Lightning is not classified as a natural disaster in India.

Solution: b)

Statement 1 is incorrect.

Annual Status of Education Report (ASER) is a nationwide household survey that covers all rural districts in the country and generates estimates for schooling and basic learning for every State in India. 

Since its inception, ASER has measured foundational skills in reading and arithmetic. The highest reading task on the ASER tool is reading a text at Grade II level of difficulty. In mathematics, the highest level is a numerical three-digit by one-digit division problem, usually expected of children in standard four or so. The assessment is done one on one with each sampled child in the household. The child is marked at the highest level that she/he can comfortably reach. The same tasks are used for all children aged 5 years to 16 years.

Solution: a)

A short circuit is an abnormal condition in an electrical circuit where the electrical current flows through an unintended, shorter pathway instead of following the circuit. This results in an excessive current flowing through the circuit. The opposite of a short circuit is an “open circuit”, which is an infinite resistance between two nodes.