Current Affairs Quiz 07 December 2023
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Current Affairs Quiz 07 December 2023 for UPSC Prelims
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- Question 1 of 5
1. Question
Consider the following statements about Pradhan Mantri Formalisation of Micro food
processing Enterprises (PM-FME):
1. It has been launched under the Aatmanirbhar Bharat Abhiyan.
2. It primarily focuses on the unorganized segment of the food processing industry.
3. It envisages enhancing minor forest produce in the tribal districts.
Which of the statements given above is/are correct?CorrectAnswer: D
All the statements are correctIncorrectAnswer: D
All the statements are correct - Question 2 of 5
2. Question
Which of the following indexes are released by Central Statistical Organisation (CSO) ?
1. Consumer Price Index (CPI)
2. Wholesale Price Index (WPI)
3. Index of Industrial Production (IIP)
Select the correct answer using the codes given below.CorrectAns;- b) 1 and 3 only
Explanation;-
• The WPI is published by the Economic Adviser in the Ministry of Commerce and Industry.
• The Wholesale Price Index focuses on the price of goods traded between corporations, rather than the goods bought by consumers, which is measured by the Consumer Price Index.
• A comprehensive measure used for estimation of price changes in a basket of goods and services representative of consumption expenditure in an economy is called consumer price index.
• The Index of Industrial Production (IIP) is an indicator that measures the changes in the volume of production of industrial products during a given period. It calculates the data of eight core sectors.
• The IIP’s current base year is 2011-12 since May 2017.
• The labour ministry has recently revised the base year for CPI-IW to 2016 from 2001.
The current series of WPI with 2011-12 as base year was introduced in May 2017.IncorrectAns;- b) 1 and 3 only
Explanation;-
• The WPI is published by the Economic Adviser in the Ministry of Commerce and Industry.
• The Wholesale Price Index focuses on the price of goods traded between corporations, rather than the goods bought by consumers, which is measured by the Consumer Price Index.
• A comprehensive measure used for estimation of price changes in a basket of goods and services representative of consumption expenditure in an economy is called consumer price index.
• The Index of Industrial Production (IIP) is an indicator that measures the changes in the volume of production of industrial products during a given period. It calculates the data of eight core sectors.
• The IIP’s current base year is 2011-12 since May 2017.
• The labour ministry has recently revised the base year for CPI-IW to 2016 from 2001.
The current series of WPI with 2011-12 as base year was introduced in May 2017. - Question 3 of 5
3. Question
Consider the following statements about Disinvestment
1. Disinvestment or divestiture refers to the government selling or liquidating its assets or stakes in PSE (public sector enterprise).
2. The Department for investment and public asset management (DIPAM) under Ministry of commerce and Industry is the nodal agency for disinvestment.
Which of the statements given above is/are correct?CorrectAnswer: A
What is Disinvestment?
• Disinvestment or divestiture refers to the government selling or liquidating its assets or stakes in PSE (public sector enterprise).
• The Department for investment and public asset management (DIPAM) under Ministry of finance is the nodal agency for disinvestment
• It is done when a PSU start incurring the loss of exchequer.
• Disinvestment proceeds can help the government fund its fiscal deficit.IncorrectAnswer: A
What is Disinvestment?
• Disinvestment or divestiture refers to the government selling or liquidating its assets or stakes in PSE (public sector enterprise).
• The Department for investment and public asset management (DIPAM) under Ministry of finance is the nodal agency for disinvestment
• It is done when a PSU start incurring the loss of exchequer.
• Disinvestment proceeds can help the government fund its fiscal deficit. - Question 4 of 5
4. Question
Which of the following will lead to cost push inflation for a particular industry
1. Rising NPAs of banks
2. Shortage of skilled labourSelect the incorrect statements
CorrectAns;- d) Neither 1 and 2
Explanation;-
• As question asked incorrect to choose but both the statements are correct.
• The Cost push inflation refers to the type in which the rise of prices is due to rise in costs of factors of production – entrepreneurship, land, capital and labour.• As the NPAs of banks increase, they will be asking for stringent regulations and higher credit rate, which will make capital costly. Thus it is cost push inflation type.
• If there is shortage of labour, the wages demanded by the available will be higher, thus pushing cost of production higher. Hence it is also cost push type.
IncorrectAns;- d) Neither 1 and 2
Explanation;-
• As question asked incorrect to choose but both the statements are correct.
• The Cost push inflation refers to the type in which the rise of prices is due to rise in costs of factors of production – entrepreneurship, land, capital and labour.• As the NPAs of banks increase, they will be asking for stringent regulations and higher credit rate, which will make capital costly. Thus it is cost push inflation type.
• If there is shortage of labour, the wages demanded by the available will be higher, thus pushing cost of production higher. Hence it is also cost push type.
- Question 5 of 5
5. Question
“SolarWinds hack”, a term is sometime seen in news is/are:
CorrectAnswer: D
IncorrectAnswer: D
