Current Affairs MCQs for UPSC & State PSC Exams (24 January 2023)

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

Date: 24 January 2023

Q1. Consider the following statements about the Jal Jeevan Mission:

1. It aims to provide an assured 55 liters per capita per day to every rural household by 2024.
2. According to the Mission guidelines, a Gram Panchayat of a village should have a sub-committee or Village Water and Sanitation Committee (VWSC) comprising 50% of elected members of the panchayat from weaker sections of the village (SC/ST) proportional to the SC/ST population of the village.
3. There are clear roles and responsibilities allotted for the SC/ST members of the VWSC.

Which of the following statements is/are correct?

(a) 1 only
(b) 1 and 2 only
(c) 2 and 3 only
(d) All of the above

Answer: (A)

Explanation:

  • The mission aims to provide an assured 55 liters per capita per day to every rural household by 2024. Hence, statement 1 is correct.
  • According to the Mission guidelines, a Gram Panchayat of a village should have a sub-committee or Village Water and Sanitation Committee (VWSC) comprising 25% of elected members of the panchayat from weaker sections of the village (SC/ST) proportional to the SC/ST population of the village. Hence, statement 2 is incorrect.
  • However, there are no clear roles and responsibilities allotted in either the JJM Mission guidelines or the “Margdarshika for Gram Panchayat” for the SC/ST members of the VWSC, which raises the question of the effectiveness of the representation of Dalits in the Mission. Hence, statement 3 is incorrect.

Q2. With reference to the National Institutional Ranking Framework (NIRF), consider the following statements:

1. It is a methodology adopted by the Ministry of Education to rank institutions of higher education in India.
2. Participation in the NIRF is voluntary for all government-run educational institutions.
3. Indian Institute of Science (IISc) Bengaluru ranked first in the NIRF 2022 rankings under the research and universities category.

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:

  • The National Institutional Ranking Framework (NIRF) is a methodology adopted by the Ministry of Education, Government of India, to rank institutions of higher education in India. So, statement 1 is correct.
  • While participation in the NIRF was voluntary in the initial years, it was made compulsory for all government-run educational institutions in 2018. So, statement 2 is incorrect.
  • Indian Institute of Science (IISc) Bengaluru ranked first in the National Institutional Ranking Framework (NIRF) rankings 2022 under the research and universities category. So, statement 3 is correct.

Q3. Consider the following statement about Insolvency and Bankruptcy Code (IBC).

1. IBC 2016 is India's bankruptcy law whose prime objective is to rescue corporate creditors in distress.
2. The Code specifies a time-bound insolvency resolution process, including any litigation, which must be completed within 330 days.

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

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

Answer: (A)

Explanation:

  • IBC 2016 is India's bankruptcy law; it seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy. Till a few years ago, the process of winding up companies was regulated by the Companies Act, 1956, under the superintendence of courts--a not-so-efficient process that resulted in undue delays.
  • With the enforcement of IBC, the winding up procedure is now under the supervision of the National Company Law Tribunal (NCLT), which ensures quick and prompt action during the early stage of debt default by a firm, thereby resulting in an optimum recovery rate.
  • The prime objective of the IBC is to rescue corporate debtors in distress. (Hence option 1 is incorrect).
  • The Code specifies a time-bound insolvency resolution process, including any litigation, which must be completed within 330 days. . (Hence option 2 is correct).
  • Undoubtedly, the IBC has been effective to a great extent so far; however, compliance with timelines remains an issue. The earlier envisaged timeframe of 180 days (+90 days extension) was increased to 330 days for resolving issues. Despite the extension, resolution plans continue to cross the deadline.

Solution. As only statement 1 is incorrect, Hence correct option is (a) 1 only.

Q4. Consider the following Statements regarding the World Bank.

1. The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects.
2. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference.

Select the correct Statement(s) using the code given below.

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

Answer: (C)

Explanation:

  • The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group.
  • The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. Thus statement 1 is correct.
  • It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. Hence statement 2 is correct.

Q5. Consider following statements about Liquefied Natural Gas (LNG).

1. Liquefied Natural Gas (LNG) is a natural gas that is cooled down to liquid form and shrunk to 1/600th of its original volume.
2. It is a clear, colorless, and non-toxic liquid.

Which of the above statements is/are correct?

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

Answer: (C)

Explanation:

  • Liquefied Natural Gas (LNG) is a natural gas that is cooled down to liquid form and shrunk to 1/600th of its original volume. Hence statement 1 is correct.
  • The compressed fossil fuel, which is constituted almost wholly of methane — a potent greenhouse gas —, can be transported around the world by ship.
  • It is a clear, colorless, and non-toxic liquid. Hence statement 2 is correct.