[MISSION 2024] RTM(Revision through MCQs)- 19 July 2023

Ans: (a)

Explanation:

• The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting is an outcome of the OECD / G20 Project to tackle Base Erosion and Profit Shifting (the “BEPS Project”) i.e., tax planning strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations where there is little or no economic activity, resulting in little or no tax being paid. The companies need not invest via shell companies to be accused of BEPS.
• India has ratified the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting.

Refer: https://www.insightsonindia.com/2023/07/19/tax-challenges-arising-from-the-digitalisation-of-the-economy/

Ans: (b)

Explanation:

• S3: The headquarters for the organization is located in Paris, France.
• S1 and S2: It is an intergovernmental economic organisation with 38 member countries, founded in 1961 to stimulate economic progress and world trade.

Refer: https://www.insightsonindia.com/2023/07/19/tax-challenges-arising-from-the-digitalisation-of-the-economy/

Ans: (b)

Explanation: Kakatiya dynasty-Key facts:

• The 12th and the 13th centuries saw the emergence of the Kakatiyas.
• They were at first the feudatories of the Western Chalukyas of Kalyana, ruling over a small territory near Warangal.
• The dynasty saw powerful leaders like Ganapathi Deva and Rudramadevi.
• Prataparudra I, also known as Kakatiya Rudradeva, was the son of the Kakatiya leader Prola II. It was under his rule that the Kakatiyas declared sovereignty. He ruled the kingdom till 1195 A.D.
• It was under the rule of Prataparudra I that usage of Telugu language in inscriptions began.
• Before the establishment of Orugallu/Warangal as the capital, Hanamakonda was the first capital of the Kakatiyas.
  • The great Italian traveller Marco Polo visited the Kakatiya Kingdom sometime during Rudramadevi’s tenure as the ruler of the Kakatiya Dynasty and made note of her administrative style; admiring her extensively.
• Society:
  • Under the Kakatiya rule, the caste system was not rigid and in fact, it was not given much significance socially. Anyone could take up any profession and people were not bound to an occupation by birth.

Refer: https://www.insightsonindia.com/2023/07/19/fusion-of-rock-art-at-rudragiri-hillock/

Ans: (d)

Explanation:

• Context: The Rudragiri hillock in Andhra Pradesh features a unique combination of prehistoric rock paintings from the Mesolithic period and exquisite artwork from the Kakatiya dynasty, dating back to around 1300 AD.

Refer: https://www.insightsonindia.com/2023/07/19/fusion-of-rock-art-at-rudragiri-hillock/

Ans: (c )

Explanation:

• In India, the rules regarding political parties’ access to government-owned electronic media, such as Doordarshan and All India Radio, are governed by the Election Commission of India (ECI) and the Prasar Bharati Act.
• Allotment of Airtime: During elections, the ECI mandates that Doordarshan and All India Radio allocate a certain amount of free airtime to recognized political parties for broadcasting their messages.
• Time Slots: The ECI determines the time slots for political parties based on factors like their previous electoral performance and representation in the legislature. Parties are allocated fixed time slots for their broadcasts.
• Other aspects of rules are mandated under the Representation of the People Act, 1951

Refer: https://www.insightsonindia.com/2023/07/19/digital-time-voucher-system-for-political-parties/

Ans: (c)

Explanation:

• Steel slag is a versatile material that has many uses. It is strong and durable, making it a good choice for construction materials. It is also porous, which makes it a good absorbent for water and nutrients. This makes it a good amendment for agricultural soil. Steel slag can also be used to produce cement, which is a key ingredient in concrete.
• Context: India has developed the world’s latest Steel Road technology by using steel slag.
• What is Steel Slag Road?
  • Steel slag is a byproduct of steelmaking, and is produced during the separation of molten steel from impurities in steel-making furnaces.
  • Steel slag roads are roads constructed using steel slag. Instead of discarding this waste material, it is processed and used as an aggregate in road construction. The steel slag is mixed with other materials and technologies to create a durable and sustainable road surface.
• Developed by: The technology, pioneered by CSIR-Central Road Research Institute (CRRI), allows for the large-scale utilization of waste steel slag from steel plants in road construction.

Refer: https://www.insightsonindia.com/2023/07/19/steel-slag-roads/

Ans: (a)

Explanation:

• Context: The Andhra Pradesh government released around 10 million Gambusia fish, also known as mosquitofish, into the state’s water bodies to combat mosquito-borne diseases like malaria and dengue.
• The fish is used as a biological agent to control mosquito larvae and has been part of mosquito-control strategies in India since 1928.
• Gambusia fish are known for their high breeding capacity and adaptability, allowing them to survive in diverse environments.

Refer: https://www.insightsonindia.com/2023/07/19/gambusia/

Ans: (d)

Explanation:

• Households, personal consumption, non-financial corporations, and credit to the government sector are a part of the non-financial debt.

Refer: UPSC CSE 2020

Ans: (b)

Explanation:

• IAEA Safeguards are meant to understand if imported/enriched uranium is not used for non-peaceful purposes. Straightforward.

Refer: UPSC CSE 2020

Ans: (b)

Explanation:

• A lower SLR gives banks more room to lend, so S1 can’t be the answer.
• MSF rate which is slightly higher than the repo rate is a borrowing window for the banks. A higher MSF discourages borrowing, so S2 is incorrect. RBI won’t take this stance.
• S3 is common knowledge.

Refer: UPSC CSE 2020