Current Affairs MCQs for UPSC & State PSC Exams (14 March 2022)

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

Date: 14 March 2022

Q1. Which of the following statements is/are correct about Black Swans?

1. Black Swans are unpredicted, random events of huge impact.
2. Black Swan events can take place in business, politics, stock markets etc.

Choose the correct option:

a) 1 only
b) 2 only
c) Both 1 and 2
d) None of these

Answer: (C)

Explanation: Black Swans are unpredicted, random events of huge impact. These events deviate from the normal expected course. They are thus, also called outliers as there is no reference data in the past which gives any clue to their occurrence in the future. No scientific model can predict them. Black Swan events can take place in business, politics, stock markets etc. These events are unforeseen and thus cannot be predicted.

Q2. Consider the following statements regarding Agri warehousing in India:

1. Private agencies use largest part of India’s total Agri storage capacity.
2. Separate warehousing corporations were also set up in different states of the India.

Choose the correct option:

a) 1 only
b) 2only
c) both 1 and 2
d) none of these

Answer: (B)

Explanation:

  • Government agencies use 66% (60 MMT) of India’s total agri storage capacity which also includes hired capacity of 23 MMT. The total state-owned storage capacity of 37 MMT is held through three public sector agencies viz. Food Corporation of India (FCI), Central Warehousing Corporation (CWC) and State Warehousing Corporation (SWC).
  • Separate warehousing corporations were also set up in different States of the Indian Union i.e. State Warehousing Corporation.

Q3. Consider the following statements regarding Hungary for Cargo initiative:

1. It is a joint initiative of the World Bank and Indian Railways under which the World Bank will provide the funds with 50:50 sharing to India railways.
2. It is being done by bringing in new commodities, identifying new cargo opportunities in existing and newer sectors and regions.

Select the correct answer using the code given below.

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

Answer: (B)

Explanation:

  • It is an internal project of the railway ministry under which the Railways is aiming to increase freight revenue.
  • It is being done by bringing in new commodities, identifying new cargo opportunities in existing and newer sectors and regions.

Q4. With reference to International Criminal Court (ICC) consider the following statements -

1. It is the World’s first permanent International Criminal Court which is Governed by Rome Statute, 1998
2. All UN members are the parties to the ICC
3. ICC is headquartered at The Hague, the Netherlands.

Select the correct Statement(s) 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: (C)

Explanation :

  • A total of 123 countries are parties to the ICC
  • 33 are from African Nations
  • 19 are the Asia-Pacific States
  • 18 are from Eastern Europe
  • 28 are from Latin American and the Caribbean States
  • 25 from Western Europe and other states.

Q5. Consider the following statement about EWS.

1. The gross family income from all sources — agriculture, business, professional, etc. for the financial year preceding the application should be less than Rs 10 lakh.
2. The income limit in the criteria for the determination of the creamy layer of the OBC category and the EWS category is the same.

Which of the above statements is /are not correct?

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

Answer: (A)

Explanation:

  • The gross family income from all sources — agriculture, business, professional, etc. — for the financial year preceding the application should be less than Rs 8 lakh.
  • The income limit in the criteria for the determination of the creamy layer of the OBC category and the EWS category is the same, namely, Rs 8 lakhs.

Q6. Consider the following statements regarding the comprehensive program for the development of sustainable semiconductor and display ecosystem in the country:

1. It is set with an outlay of 100 billion USD.
2. Under the Scheme for Setting up of Semiconductor Fabs product, deployment linked incentive of 6% - 4% on net sales for five years will be provided
3. In order to drive the long-term strategies for developing a sustainable semiconductors and display ecosystem, a specialized and independent “India Semiconductor Mission (ISM)” will be set up.

Which of the statements given above is/are correct?

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

Answer: (C)

Explanation: Art:

  • The Cabinet approved the comprehensive program for the development of sustainable semiconductor and display ecosystem in the country with an outlay of Rs.76,000 crore (>10 billion USD).
  • The Schemes for Setting up of Semiconductor Fabs and Display Fabs in India shall extend fiscal support of up to 50% of project cost on pari-passu basis to applicants who are found eligible and have the technology as well as capacity to execute such highly capital and resource intensive projects.
  • In order to drive the long-term strategies for developing a sustainable semiconductors and display ecosystem, a specialized and independent “India Semiconductor Mission (ISM)” will be set up.

Q7. Which of the following basket of currencies determines the value of the SDR?

1) USD
2) Australian Dollars
3) Euro
4) INR
5) Japanese Yen
6) Turkish Lira
7) Saudi Riyal

Choose the correct option:

A) All of the above
B) 1,2,3,4,5,7
C) 1,3,5
D) 1,2,3,4,6,7

Answer: (C)

Explanation: As per IMF U.S. dollar, euro, Chinese yuan, Japanese yen, and pound sterling determine value of SDR.