Current Affairs Quiz 09 June 2023
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Current Affairs Quiz 09 June 2023 for UPSC Prelims
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- Question 1 of 5
1. Question
Consider the following statements:
1. Decrease in the Cash Reserve Ratio results in a decline in the borrowing cost of funds.
2. Increase in Reverse Repo Rate will discourage banks from depositing surplus with the Central Bank.
3. Decrease in Statutory Liquidity Ratio leads to a decline in interest rate.
4. Selling of government securities by the Central Bank results in inflation in the economy.
Which of the statements given above are correct?CorrectAnswer: A
• Reverse Repo Rate is the interest rate at which the RBI borrows money from banks for
the short term. RBI increases the reverse repo rate to provide incentive to the banks
to deposit surplus funds with it to earn higher interest on them. In this manner it
reduces the supply of money in the system, thus controlling inflation. Similarly, RBI
cuts the reverse repo rate to increase the money supply. So, statement 2 is not
correct.• Open market operations involve the sale and purchase of government securities and
treasury bills by the Reserve Bank of India (RBI) to regulate the money supply in the
economy. The purchase of the government securities from the market leads to an
increase in money supply in the economy. On the contrary, when RBI sells
government securities, it decreases money supply in the economy thereby
controlling inflation. So, statement 4 is not correct.IncorrectAnswer: A
• Reverse Repo Rate is the interest rate at which the RBI borrows money from banks for
the short term. RBI increases the reverse repo rate to provide incentive to the banks
to deposit surplus funds with it to earn higher interest on them. In this manner it
reduces the supply of money in the system, thus controlling inflation. Similarly, RBI
cuts the reverse repo rate to increase the money supply. So, statement 2 is not
correct.• Open market operations involve the sale and purchase of government securities and
treasury bills by the Reserve Bank of India (RBI) to regulate the money supply in the
economy. The purchase of the government securities from the market leads to an
increase in money supply in the economy. On the contrary, when RBI sells
government securities, it decreases money supply in the economy thereby
controlling inflation. So, statement 4 is not correct. - Question 2 of 5
2. Question
What are the characteristics of shield volcanoes?
1. Mostly made up of basalt
2. Steep
3. Develop cinder coneSelect the correct code
CorrectAns;- b) 1 and 3
Explanation;-
• The Shield volcanoes are mostly made up of basalt, a type of lava that is very fluid when erupted. For this reason, these volcanoes are not steep.• They become explosive if somehow water gets into the vent otherwise, they are characterized by low-explosivity.
• Many of the largest volcanoes on Earth are shield volcanoes. The largest is Mauna Loa on the Big Island of Hawaii; all the volcanoes in the Hawaiian Islands are shield volcanoes.
• There are also shield volcanoes, for example, in Washington, Oregon, and the Galapagos Islands.
• The upcoming lava moves in the form of a fountain and throws out the cone at the top of the vent and develops into cinder cone.
IncorrectAns;- b) 1 and 3
Explanation;-
• The Shield volcanoes are mostly made up of basalt, a type of lava that is very fluid when erupted. For this reason, these volcanoes are not steep.• They become explosive if somehow water gets into the vent otherwise, they are characterized by low-explosivity.
• Many of the largest volcanoes on Earth are shield volcanoes. The largest is Mauna Loa on the Big Island of Hawaii; all the volcanoes in the Hawaiian Islands are shield volcanoes.
• There are also shield volcanoes, for example, in Washington, Oregon, and the Galapagos Islands.
• The upcoming lava moves in the form of a fountain and throws out the cone at the top of the vent and develops into cinder cone.
- Question 3 of 5
3. Question
Which of the following are the Rabi Crops?
1. Wheat
2. Moong Dal
3. Mustard
4. Watermelon
Select the correct answer from the code below.CorrectAns; – a) Only 1 and 3
Explanation; –
The Moong Dal is Kharif Crop and Water Melon is Zaid Crop.
About Kharif Crops
• Crops that are sown during the southwest monsoon season are called kharif or monsoon crops.
• These crops are sown at the beginning of the season around end May to early June and are harvested post the monsoon rains beginning October.
• Rice, maize, pulses such as urad, moong dal and millets are among the key kharif crops.
About Rabi Crops
• Those that are sown during winter, are called rabi or winter crops.
• It begins by October.
• These crops are sown at the onset of winter which coincides with the northeast monsoon.
• The harvest for these crops happens typically during April and May, during the summer season.
• Wheat which is the staple grain for people in the Northern parts of the country is among the key rabi crops.
• Vegetables such as potato, tomato and onion are also cultivated post the winter onset and are harvested in summer.
• Some of the examples of Rabi crops except mustard are barley, gram, rapeseeds, oat and wheat.
About Zaid Crop
• This crop is grown in some parts of country during March to June.
• Prominent examples are Muskmelon, Watermelon, Vegetables of cucurbitacae family such as bitter gourd, pumpkin, ridged gourd etc.IncorrectAns; – a) Only 1 and 3
Explanation; –
The Moong Dal is Kharif Crop and Water Melon is Zaid Crop.
About Kharif Crops
• Crops that are sown during the southwest monsoon season are called kharif or monsoon crops.
• These crops are sown at the beginning of the season around end May to early June and are harvested post the monsoon rains beginning October.
• Rice, maize, pulses such as urad, moong dal and millets are among the key kharif crops.
About Rabi Crops
• Those that are sown during winter, are called rabi or winter crops.
• It begins by October.
• These crops are sown at the onset of winter which coincides with the northeast monsoon.
• The harvest for these crops happens typically during April and May, during the summer season.
• Wheat which is the staple grain for people in the Northern parts of the country is among the key rabi crops.
• Vegetables such as potato, tomato and onion are also cultivated post the winter onset and are harvested in summer.
• Some of the examples of Rabi crops except mustard are barley, gram, rapeseeds, oat and wheat.
About Zaid Crop
• This crop is grown in some parts of country during March to June.
• Prominent examples are Muskmelon, Watermelon, Vegetables of cucurbitacae family such as bitter gourd, pumpkin, ridged gourd etc. - Question 4 of 5
4. Question
Consider the following statements regarding State Food Safety Index (SFSI)
1. The index is developed by FSSAI (Food Safety and Standards Authority of India) to measure the performance of states on five significant parameters of Food Safety.
2. Kerala secured the top rank among the large states.
Which of the statements given above is/are correct?CorrectCorrect Answer : C
About the State Food Safety Index (SFSI)
• The index is developed by FSSAI (Food Safety and Standards Authority of India) to measure the performance of states on five significant parameters of Food Safety.
• The parameters include Human Resources and Institutional Data, Compliance, Food Testing – Infrastructure and Surveillance, Training & Capacity Building and Consumer Empowerment.
• The Index is a dynamic quantitative and qualitative benchmarking model that provides an objective framework for evaluating food safety across all States/UTs.
• The first State Food Safety Index for the year 2018-19 was announced on the first-ever World Food Safety Day on 7th June 2019.Food Safety and Standards Authority of India (FSSAI)
• FSSAI is an autonomous body established under the Ministry of Health & Family Welfare, Government of India.
• The FSSAI has been established under the Food Safety and Standards Act, 2006 which is a consolidating statute related to food safety and regulation in India.
• Hence, FSSAI is a Statutory Body.
• FSSAI is responsible for protecting and promoting public health through the regulation and supervision of food safety.
• The main aim of FSSAI is to
○ Lay down science-based standards for articles of food
○ To regulate manufacture, storage, distribution, import and sale of food
○ To facilitate safety of food
• Standards framed by FSSAI are prescribed under:
○ Food Safety and Standards (Food Product Standards and Food Additives) Regulation, 2011,
○ Food Safety and Standards (Packaging and Labelling) Regulation, 2011
○ Food Safety and Standards (Contaminants, Toxins, and Residues) Regulations, 2011.State and Union Territory Rankings in 2022-23 Report:
Large State Category:
• Kerala secured the top rank among the large states.
• Punjab and Tamil Nadu followed as the second and third top-ranking states in this category.Small States Category:
• Goa attained the highest rank among the small states.
• Manipur and Sikkim were the second and third top-ranking states in the small states category.Union Territories Category:
• Jammu and Kashmir, Chandigarh, and Delhi were the top-ranking Union Territories.IncorrectCorrect Answer : C
About the State Food Safety Index (SFSI)
• The index is developed by FSSAI (Food Safety and Standards Authority of India) to measure the performance of states on five significant parameters of Food Safety.
• The parameters include Human Resources and Institutional Data, Compliance, Food Testing – Infrastructure and Surveillance, Training & Capacity Building and Consumer Empowerment.
• The Index is a dynamic quantitative and qualitative benchmarking model that provides an objective framework for evaluating food safety across all States/UTs.
• The first State Food Safety Index for the year 2018-19 was announced on the first-ever World Food Safety Day on 7th June 2019.Food Safety and Standards Authority of India (FSSAI)
• FSSAI is an autonomous body established under the Ministry of Health & Family Welfare, Government of India.
• The FSSAI has been established under the Food Safety and Standards Act, 2006 which is a consolidating statute related to food safety and regulation in India.
• Hence, FSSAI is a Statutory Body.
• FSSAI is responsible for protecting and promoting public health through the regulation and supervision of food safety.
• The main aim of FSSAI is to
○ Lay down science-based standards for articles of food
○ To regulate manufacture, storage, distribution, import and sale of food
○ To facilitate safety of food
• Standards framed by FSSAI are prescribed under:
○ Food Safety and Standards (Food Product Standards and Food Additives) Regulation, 2011,
○ Food Safety and Standards (Packaging and Labelling) Regulation, 2011
○ Food Safety and Standards (Contaminants, Toxins, and Residues) Regulations, 2011.State and Union Territory Rankings in 2022-23 Report:
Large State Category:
• Kerala secured the top rank among the large states.
• Punjab and Tamil Nadu followed as the second and third top-ranking states in this category.Small States Category:
• Goa attained the highest rank among the small states.
• Manipur and Sikkim were the second and third top-ranking states in the small states category.Union Territories Category:
• Jammu and Kashmir, Chandigarh, and Delhi were the top-ranking Union Territories. - Question 5 of 5
5. Question
Consider the following statements with reference to tax buoyancy:
1. It measures tax revenues with respect to changes in Gross Domestic Production (GDP).
2. Higher tax buoyancy rate indicates lesser tax collection.
Which of the statements given above is/are correct?CorrectAnswer: A
Tax revenues are closely related to economic activity, rising during periods of faster
economic growth and declining during recessions. The higher tax buoyancy rate
means surplus tax revenue by way of tax collection. So, statement 2 is not correct.IncorrectAnswer: A
Tax revenues are closely related to economic activity, rising during periods of faster
economic growth and declining during recessions. The higher tax buoyancy rate
means surplus tax revenue by way of tax collection. So, statement 2 is not correct.
