Current Affairs MCQs for UPSC & State PSC Exams (09 December 2022)

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

Date: 09 December 2022

Q1. Consider the following statements regarding the BIMSTEC:

1. It was established in 1997.
2. All the members of SAARC are members of BIMSTEC.
3. Out of the 7 members five are from South Asia and two are from South East Asia.

Which of the statements given above is/are correct?

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

Answer: (C)

Explanation:

  • BIMSTEC came into being in 1997 through the Bangkok Declaration. So, statement 1 is correct.
  • Afghanistan, Maldives, and Pakistan are members of SAARC but not members of BIMSTEC. So, statement 2 is incorrect.
  • Out of the 7 members, five are from South Asia –Bangladesh, Bhutan, India, Nepal, and Sri Lanka, and two are from Southeast Asia – Myanmar and Thailand. Statement 3 is correct.

So, option (c) is the correct answer.

Q2. Consider the following statements.

1. Tax Buoyancy refers to the responsiveness of tax revenue growth to changes in a country’s Gross Domestic Product (GDP).
2. Greenwashing is the practice of conveying a false impression that a company’s products are eco-friendly and environmentally sound.

Choose the INCORRECT answer using the code given below:

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

Answer: (D)

Explanation:

  • Tax buoyancy is an Economic theory concept which explains the relationship between the changes in the government’s tax revenue growth and the changes in GDP.
  • It refers to the responsiveness of tax revenue growth to changes in GDP. (Hence, statement-1 is correct)
  • When a tax is buoyant, the government's revenue increases without increasing the tax rate.
  • The act of giving the false impression that a company’s products are ecologically friendly is known as “greenwashing.”
  • While it helps in boosting the image of the entity, they do nothing in the fight against climate change.
  • Several multinational corporations including Coca Cola and oil producer Shell have faced accusations of greenwashing.

Hence, statement-2 is also correct.

Q3. With reference to India, consider the following: [UPSC PRELIMS 2010]

1. Nationalization of Banks
2. Formation of Regional Rural Banks
3. Adoption of villages by Bank Branches

Which of the above can be considered as steps taken to achieve the “financial inclusion” in India?

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

Answer: (D)

Explanation:

  • Nationalization of Banks
  • Nationalization of banks was done in 1969 and 1980 with the objective to better serve the needs of development of the economy in conformity with national policy objectives.
  • Formation of Regional Rural Banks
  • Regional Rural Banks (RRBs) were established under the provisions of RRB Act of 1976 to provide banking and loan services for agriculture and other rural areas.
  • Adoption of villages by Bank Branches
  • It was launched in 1960 with the objective of growing the rural economy of the country.

Q4. Consider the following statements:

1. Price Cap Coalition is an initiative of the OPEC grouping.
2. India is not a member of the coalition.

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: (B)

Explanation:

  • The G7 and Australia, as current members of the Price Cap Coalition, have reached consensus on a maximum price of $60 a barrel for seaborne Russian-origin crude oil. Hence, the statement 1 is incorrect.
  • India has not joined the coalition. Hence, statement 2 is correct.