Current Affairs MCQs for UPSC & State PSC Exams (04 April 2023)

Current Affairs MCQs Quiz for UPSC, IAS, UPPSC/UPPCS, MPPSC. BPSC, RPSC & All State PSC Exams

Date: 04 April 2023

Q1. Which of the following is/are true about India's new Foreign Trade Policy 2023?

1. The government has set a target of achieving $2 trillion in the export of goods and services by 2030, up from the $900 billion target of the previous policy.
2. The new policy aims to shift from an incentive to a tax remission-based regime.
3. The new policy has abolished all import tariffs to promote trade.

Choose the correct answer using the code given below:

a) 1 and 2 only
b) 2 and 3 only
c) 1 and 3 only
d) 1, 2 and 3

Answer: (A)

Explanation:

  • The government has articulated a goal of achieving $2 trillion in the export of goods and services by 2030, up from the $900 billion target that the previous policy had hoped to achieve by 2020. Thus, statement 1 is correct.
  • The aim of the new trade policy is fourfold — to shift from an incentive to a tax remission-based regime, to improve the ease of doing business, to promote exports through collaborations, and focus on emerging areas. Thus, statement 2 is correct.
  • The new policy has not abolished all import tariffs to promote trade. Thus, statement 3 is incorrect.

Q2. Consider the following statements regarding Pradhan Mantri Fasal Bima Yojana (PMFBY).

1. It was launched in Feb 2016 as a flagship scheme for crop insurance.
2. The maximum premium payable by farmers is 2 percent for all food and oilseeds crops grown in the kharif (summer) season, 1.5 per cent for same crops grown in rabi (winter) season and 5 per cent for commercial and horticulture crops.
3. Crop insurance is mandatory to avail a farm loan.

Which of the statements given above is/are not correct?

a) 1 and 2 only
b) 2 and 3 only
c) 3 only
d) 1, 2 and 3

Answer: (C)

Explanation:

  • PMFBY was launched in Feb 2016.
  • Thus statement 1 is correct.
  • Under this scheme, The maximum premium payable by farmers is 2 percent for all food and oilseeds crops grown in the kharif (summer) season, 1.5 per cent for same crops grown in rabi (winter) season and 5 per cent for commercial and horticulture crops.
  • Hence statement 2 is also correct.
  • Crop insurance is made optional to avail farm loan.
  • Thus statement 3 is NOT correct.

Q3. Which of the following statements about production-linked incentive (PLI) scheme is/are correct?

1. This scheme works to reduce down the import bills and boost up domestic production.
2. Pharmaceuticals and medical devices have not been covered under this scheme.
3. The scheme offers financial incentives to companies that meet specific production targets.

Choose the correct option:

a) 1 and 3 Only
b) 2 and 3 Only
c) 1, 2 and 3
d) 3 Only

Answer: (A)

Explanation:

  • This scheme works to reduce down the import bills and boost up domestic production. Statement 1 is correct
  • The objective of the Production-Linked Incentive (PLI) scheme is to boost domestic manufacturing and attract investment in key sectors such as automobiles and auto components, pharmaceuticals and medical devices, and renewable energy and battery storage, among others. Statement 2 is Not correct.
  • The scheme offers financial incentives to companies that meet specific production targets. Statement 3 is correct.

Q4. Consider the following statements in the context of WHO’s ‘Global Report on Sodium Intake Reduction’.

1. In low- and middle-income countries (LMICs) it is estimated at $3.7 trillion between 2011 and 2025 due to premature mortality and disability. This figure represents an alarming 2% of the GDP of LMICs.
2. The World Economic Forum projects that the Indian economy alone faces losses surpassing $2 trillion between 2012 and 2030 as a consequence of cardiovascular disease.

Which of the statement/s given above is/are correct?

a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2

Answer: (C)

Explanation:

  • In low- and middle-income countries (LMICs) it is estimated at $3.7 trillion between 2011 and 2025 due to premature mortality and disability. This figure represents an alarming 2% of the GDP of LMICs.
  • Notably, the World Economic Forum projects that the Indian economy alone faces losses surpassing $2 trillion between 2012 and 2030 as a consequence of cardiovascular disease.

Q5. Consider the following statement regarding municipal bonds.

1. Municipal bonds are similar to corporate bonds, but they are issued by civic bodies to finance urban infrastructure projects.
2. Mumbai, this year, became the first city to issue green bonds on the NSE.

Which of the statement/s given above is/are correct?

a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2

Answer: (A)

Explanation:

  • Municipal bonds are similar to corporate bonds, but they are issued by civic bodies to finance urban infrastructure projects.
  • Municipal corporations issue bonds to raise funds from individuals and institutions. The investors are promised a specified interest and return of the principal amount on the maturity date. (Hence statement 1 is correct.)
  • The Indore Municipal Corporation, this year, became the first municipal body to issue green bonds on the NSE. (Hence statement 2 is incorrect.)