DAILY

 CURRENT AFFAIRS

PRACTICE QUESTIONS

Current Affairs MCQs for Practice – 21 Jan 2022

Question-1

2022 is the second year in a row the government has had to cancel invitations to chief guests at the Republic Day celebrations. Who was invited as the chief guest last year?

a)     Angela Merkel

b)    Vladimir Putin

c)     Justin Trudeau

d)    Boris Johnson

Ans- d

Explanation-

This is the second year in a row the government has had to cancel invitations to chief guests due to the COVID-19 pandemic after U.K. Prime Minister Boris Johnson was unable to attend the celebrations in 2021.

Question-2

Which scheme removes all pre-existing limits on political donations, and effectively allows well-resourced corporations to buy politicians by paying immense sums of money?

a)     Political Bond Scheme

b)    Electoral Bond Scheme

c)     Foreign Donations Scheme

d)    Sovereign Gold Bond Scheme

Ans- b

Explanation-

The electoral bonds scheme, however, removes all pre-existing limits on political donations, and effectively allows well-resourced corporations to buy politicians by paying immense sums of money. This defeats the entire purpose of democracy, which as B.R. Ambedkar memorably pointed out, was not just to guarantee one person, one vote, but one vote one value. News: Cabinet approves extension of tenure of the National Commission for Safai Karamcharis for three years.

Question-3

Which country has planned to relocate its capital city due to sinking?

a)     Vietnam

b)    Sri Lanka

c)     Malaysia

d)    Indonesia

Ans- d

Explanation-

Indonesia’s parliament recently passed a law approving the relocation of its capital from slowly sinking Jakarta to a site 2,000 kilometres away on the jungle-clad Borneo island that will be named “Nusantara”.

Question-4

Name India's newest airline.

a)     Vistara

b)    Go Air

c)     Jet Airways

d)    Akasa Air

Ans- d

Explanation-

The country’s newest airline, Akasa Air, plans to get its first aircraft in April and begin operations by late May or early June.

Question-5

Consider the following statements with respect to capital expenditure and revenue expenditure:

1.   Revenue expenditures are one-time large purchases of fixed assets, used for revenue generation in daily business operations.

2.   Capital expenditures are the ongoing expenses, which are short-term, used for revenue generation over a longer period.

Which of the above statement(s) is/are correct?

a)     1 only

b)    2 only

c)     Both 1 and 2

d)    Neither 1 nor 2

Ans- d

Explanation-

News: The Ministry of Finance has asked other departments and ministries to restrict their expenses within the limits allocated for the current fiscal year.

Capital Expenditure Vs Revenue Expenditure

Revenue Expenditure

• Revenue expenditures are the ongoing operating expenses, which are short-term expenses used to run the daily business operations.
• Revenue expenditures are short-term expenses used in the current period or typically within one year.
• Revenue expenditures include the expenses required to meet the ongoing operational costs of running a business, and thus are essentially the same as operating expenses (OPEX).
• Revenue expenditures can be considered to be recurring expenses in contrast to the one-off nature of most capital expenditures.
• Revenue expenditures or operating expenses are recorded on the income statement.
• These expenses are subtracted from the revenue that a company generates from sales to eventually arrive at the net income or profit for the period.
• Revenue expenses can be fully tax-deducted in the same year the expenses occur.
• In other words, the expenses reduce profit from a tax standpoint, and thus, reduce the taxable income for the tax period.
• Examples of revenue expenditure:
• Salaries and employee wages
• Research and development
• Utilities and Rent
• Business travel
• Property taxes

Capital Expenditure

• Capital expenditures (CAPEX) are funds used by a company to acquire, upgrade, and maintain physical assets such as equipment.
• Capital expenditures are typically one-time large purchases of fixed assets that will be used for revenue generation over a longer period.
• Capital expenditures are often used for buying fixed assets, which are physical assets such as equipment.
• As a result, capital expenditures are typically for larger amounts than revenue expenditures.
• Since long-term assets provide income-generating value for a company for a period of years, companies are not allowed to deduct the full cost of the asset in the year the expense is incurred.
• Instead, they must recover the cost through year-by-year depreciation over the useful life of the asset.
• In other words, the cost of capital expenditures is spread out over many periods or years, whereas revenue expenditures are expensed in the current year or period.
• Examples of capital expenditure:
• Facility or factory, including an upgrade or expansion
• Vehicles, such as trucks used for the delivery of products
• Manufacturing equipment
• Computers
• Furniture

Question-6

Consider the following statements with respect to microwave weapons:

1.   Microwave weapons are based on mechanical waves and they can travel through vacuum as well.

2.   The weapon works by heating the water molecules under the skin and works up to a range of 0.6 miles.

Which of the statements given above are correct?

a)     1 only

b)    2 only

c)     Both 1 and 2

d)    Neither 1 nor 2

Ans- b

Explanation-

News: The CIA has concluded that U.S. diplomats suffering mysterious headaches and nausea in what has been dubbed “Havana Syndrome” were not targeted in a global campaign by a foreign power.

Havana Syndrome

• Havana Syndrome is a set of mental health symptoms that are experienced by US intelligence and embassy officials in other countries.
• This Syndrome traces its roots to Cuba (2016), where the US officials in their embassy began experiencing the symptoms.
• Symptoms are hearing certain sounds without any outside noise being present, nausea, vertigo and headaches, memory loss and issues with balance.
• The injuries in the brains of the victims resembled concussions, like those suffered by soldiers struck by roadside bombs in Iraq.
• Causes - No one is entirely sure of the causes of Havana Syndrome.
• But, some studies suggest that the victims may have been subjected to high-powered microwaves that interfered with the nervous system. It has had lasting impact on mental health.

Microwave Weapons

• Microwave weapons are electromagnetic weapons and are called so because they have a similar effect like an oven.
• Electromagnetic waves can penetrate through vacuum, whereas a mechanical wave cannot.
• The weapon works by heating the water molecules under the skin, in the same way as the kitchen appliance, to painful temperatures, forcing people out of the area.
• The weapon, also used for crowd control, can be used to target up to 0.6 miles away.
• China had first put on display its microwave weapon, called Poly WB-1, at an air show in 2014.
• Besides China, the United States has also developed microwave-style weapons, called the Active Denial System.
• People exposed to high-intensity microwave pulses can have both acute and long-term mental effects, without any physical damage.

Question-7

Consider the following statements regarding Koya Tribes:

1.   They are found in the states of West Bengal, Chhattisgarh, and Bihar.

2.   The Sammakka-Sarakka Jatra is the only tribal fair devoted to pay tribute to tribal warriors and is celebrated every year.

3.   They celebrate the Bhumi Panduga festival to mark the beginning of farm operations.

Which of the above statement(s) is/are correct?

a)     3 only

b)    1 only

c)     2 and 3 only

d)    1, 2 and 3

Ans- a

Explanation-

News: Significance of Telangana’s tribal fair Sammakka-Sarakka jatara. Event symbolises traditions and heritage of Koya tribal people.

Koya Tribes

• Koya are an Indian tribal community found in the states of Telangana, Andhra Pradesh, Chhattisgarh and Odisha.

Sammakka-Sarakka Jatra

• Sammakka-Sarakka jatara, billed as the country’s biggest tribal fair, to commemorate a tribal revolt led by Sammakka and Saralamma, a mother-daughter duo, against levy of taxes on tribal people during drought conditions by the then Kakatiya rulers in the 12th century.
• The mega four-day jatara, scheduled to begin in Medaram, is perhaps the only tribal fair devoted to pay tribute to tribal warriors who made supreme sacrifices defending the rights of aboriginal tribal people.
• It takes place once in two years.
• The jatara epitomises the courage displayed by the mother-daughter duo, along with other family members, in the struggle against a despotic regime bent on collecting taxes from the people of Medaram during turbulent times induced by severe drought.
• The jatara symbolizes the traditions and heritage of the Koya tribal people.

Bhumi Panduga Festival

• As traditions have it, the tribals go hunting as part of the ‘Bhumi Panduga’ celebrations, marking the beginning of farm operations every year.
• Koyas are an Indian tribal community found in the states of Telangana, Andhra Pradesh, Chhattisgarh and Odisha.

Question-8

Which of the following statements is/are correct about One Nation One Ration Card scheme (ONORC)?

1.   Existing ration cards will be turned into one nation one ration card.

2.   The Integrated Management of Public Distribution System (IMPDS) portal will help a beneficiary to access subsidized food grains within a state.

3.   Annavitran portal records all purchases made under ONORC.

Select the Correct Option from the code given below.

a)     1 and 2 only

b)    2 and 3 only

c)     1 and 3 only

d)    1,2 and 3

Ans- b

Explanation-

·       Statement 2 is incorrect: The Integrated Management of Public Distribution System (IMPDS) portal records all purchases made under ONORC.

• Statement 3 is incorrect: It will host the data of the food grains distribution through ePoS devices within a state. This will help a beneficiary to access subsidized food grains within a state (inter-district.)

One Nation One Ration Card

In order to tackle the problem of food security, the government of India introduced the One Nation One Ration Card scheme (ONORC). 

The characteristics of the ONORC are:

1.    Existing ration cards will be turned into one nation one ration card.

2.    It will be a universal ration card allotted to each beneficiary registered under NFSA.

3.    Using the ONORC, a beneficiary who migrates from one place to another can buy subsidized food grains from the fair price shop located in the destination city regardless of the origin of the beneficiaries.

4.    The beneficiaries will be identified through biometric authentication on electronic Point of Sale (ePoS) devices. These devices will be installed at each fair price shop.

5.    The national portability will work using the:

·       Integrated Management of Public Distribution System (IM-PDS) portal – It will provide the technological platform for the ration cards portability.

·       Annavitran portal – It will host the data of the food grains distribution through ePoS devices within a state. This will help a beneficiary to access subsidized food grains within a state (inter-district.)

·       Aadhar cards will be seeded with ration cards which will help beneficiaries get the ration using the same ration card

Status of ONORC Scheme

·       Presently, thirty-two States and Union territories have already completed the formalities of the scheme, which include linking beneficiaries’ ration cards with their Aadhaar numbers and installing e-Point of Sale (e-POS) machines in each FPS.

• The full mobility of food subsidy under the National Food Security Act (NFSA), 2013 relies on digitalization of the public distribution system (PDS), a network of over 5,00,000 fair-price shops (FPS).
• The Integrated Management of Public Distribution System (IMPDS) portal records all purchases made under ONORC.

Question-9

Consider the following statements about National Food Security Act (NFSA), 2013

1.    The enactment of the National Food Security Act, (NFSA) marks a paradigm shift in the approach to food security from rights based to welfare approach.

2.    The Act legally entitles upto 75% of the urban population and 50% of the rural population to receive subsidized foodgrains under Targeted Public Distribution System. 

Which of these statements is/are incorrect?

a)     1 only

b)    2 only

c)     1 and 2 both

d)    None

Ans- c

Explanation-

·       Statement 1 is incorrect: The enactment of the National Food Security Act, (NFSA) 2013 on July 5, 2013 marks a paradigm shift in the approach to food security from welfare to rights based approach. 

• Statement 2 is incorrect: The Act legally entitles up to 75% of the rural population and 50% of the urban population to receive subsidized food grains under Targeted Public Distribution System. 

National Food Security Act (NFSA), 2013

·       The enactment of the National Food Security Act, (NFSA) 2013 on July 5, 2013 marks a paradigm shift in the approach to food security from welfare to rights based approach. 

• The Act legally entitles up to 75% of the rural population and 50% of the urban population to receive subsidized food grains under Targeted Public Distribution System. 
• About two thirds of the population therefore is covered under the Act to receive highly subsidized food grains. 
• As a step towards women empowerment, the eldest woman of the household of age 18 years or above is mandated to be the head of the household for the purpose of issuing of ration cards under the Act.

Question-10

Consider the following statements regarding e-courts project

1.    It is a project of the central government under the Digital India program.

2.    An e-Committee is set up as the governing body charged with overseeing the e-Courts Project

Which of the statements given above is/are correct?

a)     1 only

b)    2 only

c)     1 and 2 both

d)    None

Ans- b

Explanation-

The e-courts project is led by the Supreme court of India.

News: The e-Committee of the Supreme Court of India recently released its draft vision document for Phase III of the e-Courts project. The e-Committee is the governing body charged with overseeing the e-Courts Project conceptualized under the “National Policy and Action Plan for Implementation of Information and Communication Technology (ICT) in the Indian Judiciary-2005”.

Features:

·       Phases I and II had dealt with digitisation of the judiciary, i.e., e-filing, tracking cases online, uploading judgments online, etc. This has helped in easing justice delivery procedures.

• Despite some hiccups due to the Covid-19 pandemic, the Supreme Court and High Courts have been able to function online.
• Phase III of the e-Courts project, reaffirms its commitment to the digitisation of court processes, and plans to upgrade the electronic infrastructure of the lower judiciary and enable access to lawyers and litigants.
• Most importantly, the Phase III proposes an “ecosystem approach” to justice delivery.

Benefits

·       A live stream would help litigants follow the proceedings in their case and also assess their lawyers’ performance. 

• People from far-flung States such as Tamil Nadu and Kerala do not have to travel all the way to the national capital for a day’s hearing.
• It would keep a check on lawyers’ conduct inside the courtrooms. With the entire country watching them, there would be fewer interruptions, raised voices and adjournments from the lawyers.
• Live-streaming will bring transparency and access to justice.

Drawback:

·       Live streaming of the Courts is susceptible to abuses and it can involve national security concerns and can amount to a violation of the fundamental right to privacy in matrimonial disputes and rape cases.

• The unauthorised reproduction of the live streaming videos is another cause for concern as its regulation will be very difficult at the government’s end.
• Concerns have also been raised about the commercial aspect of the whole issue. The agreements with broadcasters should be on a non-commercial basis. No one should profit from the arrangement.
• Infrastructure, especially internet connectivity is also the biggest challenge in implementing the live proceedings of Courts.

Source: The Hindu / The Indian Express/ TOI/ HT/PIB/The Business Standard