Daily Current Affairs MCQ- December 23, 2022 - UPSC MCQ

Spearheaded by the UAE in partnership with Indonesia, MAC was launched at the COP27 Summit in Egypt to scale up and accelerate the conservation and restoration of the mangrove forests.

• The alliance will raise awareness about the role of mangroves as a "nature-based solution to climate change".
• The alliance will be amplified at the G20 Summit that will be held between November 15 and 16, 2022 in Bali under the presidency of Indonesia.
• The MAC seeks to scale up, accelerate conservation, restoration and growing plantation efforts of mangrove ecosystems for the benefit of communities globally, and recognize the importance of these ecosystems for climate change mitigation and adaptation.

Mangroves in India:

• India contributes to nearly half of the total mangrove cover in South Asia.
• According to the Forest Survey report 2021 released in January, mangroves cover in the country is 4,992 square km, which is 0.15 per cent of the country's total geographical area. Since 2019, the cover has risen by only 17 sq km.
• West Bengal has the highest percentage of mangrove cover in India, mainly because it has Sundarbans, the largest mangrove forest in the world. It is followed by Gujarat and Andaman, and Nicobar islands.
• Other states that have mangrove cover are Maharashtra, Odisha, Andhra Pradesh, Tamil Nadu, Goa and Kerala.

Hence only statement 1 is correct.

Marrakech Partnership for Global Climate Action recently launched Yearbook of Global Climate Action 2022.

• This Yearbook of Global Climate Action, the sixth of the series, reviews the state and scope of global climate action in 2022.
• It outlines what is needed to accelerate sectoral systems transformation, features case studies of real-world climate action projects, highlights some key global climate action topics – particularly regionalization and accountability – and presents the High-Level Champions’ contribution to these issues.

Marrakech Partnership for Global Climate Action:

• The Marrakech Partnership for Global Climate Action supports implementation of the Paris Agreement by enabling collaboration between governments and the cities, regions, businesses and investors that must act on climate change.
• It was launched in November 2016 at COP 22.
• Its main objective is to strengthen collaboration between governments and key stakeholders to immediately lower emissions and increase resilience against climate impacts.
• These actions will be guided by the long-term goals of the Paris Agreement and undertaken in the context of the 2030 Agenda for Sustainable Development.

Hence only statement 1 is correct.

Traders of Pashmina shawls are complaining that “obsolete testing methods” have resulted in many of their export consignments being flagged by Customs authorities for presence of Shahtoosh guard hair, which is obtained from endangered Tibetan antelopes. The traders claim the use of obsolete techniques such as “light microscopy” by the authorities has resulted in several cases of “false positives”, leading to their wrongful prosecution.

Pashmina and Shahtoosh:

• Pashmina refers to a fine variant of spun cashmere (the animal-hair fibre), that is derived from the downy undercoat of the Changthangi.
• Pashmina is obtained from a breed of mountain goats (Capra hircus) found on the Changthang Plateau in Tibet and parts of Ladakh.
• Shahtoosh, on the other hand, is the fine undercoat fibre obtained from the Tibetan antelope, known locally as chiru, a species living mainly in the northern parts of the Changthang Plateau in Tibet.
• As they offer high levels of smoothness and warmth, Shahtoosh shawls is a highly expensive commodity.
• However, when their population declined dramatically from commercial poaching, CITES (Convention on International Trade in Endangered Species of Wild Fauna & Flora) listed the Tibetan antelope in 1979, leading to a ban on sale and trade of Shahtoosh shawls and scarves.
• In today's terminology, pashmina can refer to either the material or a particular type of Kashmir shawl made from it.

Production of Pashmina shawls:

• In the spring, the goats naturally shed their undercoat, which regrows in winter. This undercoat is collected by combing the goat (not by shearing, as in other fine wools).
• A traditional producer of pashmina wool in the Ladakh region are a people known as the Changpa (nomadic people inhabit the Changthang plateau of Tibet).
• China accounts for 70% of the world's cashmere production (followed by Mongolia (20%) and the remaining by others like Afghanistan, Australia, India, Iran, etc).
• India contributes only about 1% of the world’s Pashmina, but the Pashmina produced in India is considered the best of the lot.

Geographical Indication (GI) label on Kashmir Pashmina:

• The original ‘Kashmir Pashmina’ fabric and its products were given GI tag (by the Government of India, under the 1999 Act), in order to preserve the centuries old art of spinning and weaving fabric.

Hence, option (a) is the correct answer.

According to the Dynamic Ground Water Resource Assessment Report for the entire country for the year 2022, groundwater extraction in India saw an 18-year decline.

• The assessment was carried out jointly by Central Ground Water Board (CGWB), States and Union Territories.
• Such joint exercises between the CGWB and States/Union Territories were carried out earlier in 1980, 1995, 2004, 2009, 2011, 2013, 2017 and 2020.

Highlights:

• The total annual groundwater recharge for the entire country is 437.6 billion cubic metres (bcm) and annual groundwater extraction for the entire country is 239.16 bcm.
• Out of the total 7,089 assessment units in the country, 1,006 units have been categorised as “over-exploited” in the report.
• By comparison, an assessment in 2020 found that the annual groundwater recharge was 436 bcm and extraction 245 bcm.
• In 2017, recharge was 432 bcm and extraction 249 bcm. The 2022 assessment suggests that groundwater extraction is the lowest since 2004, when it was 231 bcm.
• The analysis indicates increase in ground water recharge which may mainly be attributed to increase in recharge from canal seepage, return flow of irrigation water and recharges from water bodies/tanks & water conservation structures.
• The improvement in ground water conditions in 909 assessment units in the country when compared with 2017 assessment data.
• In addition, overall decrease in number of over-exploited units and decrease in stage of groundwater extraction level have also been observed.

Hence both statements are correct.

The government recently approved the final sovereign green bonds framework in line with the Budget announcement (Union Budget FY 2022-23).

• Green bonds are financial instruments that generate funds for investment in environmentally sustainable and climate-suitable projects.
• Also, green bonds command a relatively lower cost of capital compared to regular bonds.
• This approval will further strengthen India’s commitment towards its Nationally Determined Contribution targets, adopted under the Paris Agreement. It will help in attracting global and domestic investments in eligible green projects.
• The proceeds generated from the issuance of such bonds will be deployed in Public Sector projects which help in reducing carbon intensity of the economy.
• The proceeds will be deposited to the Consolidated Fund of India (CFI) in line with the regular treasury policy, and then funds from the CFI will be made available for eligible green projects.
• Every year, the finance ministry will inform RBI about the spending on green projects for which the funds raised through these bonds will be used.
• The framework comes close in the footsteps of India’s commitments under “Panchamrit” as elucidated by Prime Minister Narendra Modi at COP26 at Glasgow in November 2021.

Hence only statement 1 is correct.

The Union Home Ministry has recently facilitated the visit of Indian Sikh pilgrims to Nankana Sahib on the occasion of Gurupurab.

• Nankana Sahib is a city in Pakistan’s Punjab province, where Gurdwara Janam Asthan (also called Nankana Sahib Gurdwara) is located.
• The shrine is built over the site where Guru Nanak, the founder of Sikhism, was believed to be born in 1469.
• Besides Gurdwara Janam Asthan, Nankana Sahib has several important shrines, including Gurdwara Patti Sahib, Gurdwara Bal Leela, Gurdwara Mal Ji Sahib, Gurdwara Kiara Sahib, Gurdwara Tambu Sahib — all dedicated to stages in the life of the first Guru.
• There is also a Gurdwara in memory of Guru Arjan (5th Guru) and Guru Hargobind (6th Guru). Guru Hargobind is believed to have paid homage to the town in 1621-22.
• The Janam Asthan shrine was constructed by Maharaja Ranjit Singh, after he visited Nankana Sahib in 1818-19 while returning from the Battle of Multan.

Hence only statement 1 is correct.

The Central government has recently formulated an action plan to promote exports of millet. The government has planned to facilitate participation of exporters, farmers, and traders in 16 international trade expos and Buyer Seller Meet for exports and promotion of Indian millets across the globe.

• According to the action plan, Indian missions abroad would be roped in branding and publicity of Indian millets.
• This include, identification of potential buyers such as departmental stores, supermarkets, and hypermarkets for organizing business-to-business meetings and direct tie-ups.
• As part of the promotion of Indian millets, Agricultural and Processed Food Products Export Development Authority has planned to showcase millets and its value-added product on various global platforms.

International Year of Millets:

• The United Nations has declared 2023 as the International Year of Millets.
• India is one of the leading producers of millet in the world with an estimated share of around 41 percent in global production.
• The country recorded 27 percent growth in millet production in 2021-22 which stood at 15.92 million metric tonnes.
• The country's top five millet-producing states are Rajasthan, Maharashtra, Karnataka, Gujarat, and Madhya Pradesh.
• It is estimated that the millets market is set to grow to 12 billion US dollars by 2025 from the current 9 billion dollars.

Hence only statement 2 is correct.

Insurance regulator IRDAI has rejected Fairfax proposal to convert the company’s holdings in compulsory convertible preferred shares (CCPS) issued by Go Digit Infoworks into equity shares.

• CCPS, or Compulsorily Convertible Preference Shares, are a key element of startup financing.
• It gives the assurance of a fixed rate of return plus the opportunity for capital appreciation.
• These shares carry certain terms—if an early investor has CCPS, he can have more rights than other investors who come in later at a higher valuation.
• It also helps investors maintain their stake and have a say even if their stake gets diluted later.
• However, these shares get converted to ordinary equity shares after 10-15 years.
• That is more than sufficient time for most startups to give their investors an exit.
• CCPS also helps founders keep control of a company even if their stake is lower than that of investors.

Hence both statements are correct.

Recently, the European Union’s financial markets regulator European Securities and Markets Authority (ESMA) said it will withdraw recognition of six Indian clearing bodies or central counterparties (CCPs).

Central Counterparty Clearing house (CCP):

• A central counterparty clearing house (CCP) is an entity that helps facilitate trading in various European derivatives and equities markets.
• Typically operated by the major banks in each country, CCPs strive to introduce efficiency and stability into various financial markets.
• It reduces counterparty, operational, settlement, market, legal, and default risk for traders.
• A CCP acts as a counterparty to both sellers and buyers, collecting money from each, which allows it to guarantee the terms of a trade.
• CCPs perform two main functions as the intermediary in a market transaction
  • clearing and settlement and
  • guarantee the terms of a trade.
• A CCP is authorised by the RBI to operate in India under Payment and Settlement Systems Act, 2007.

Hence both statements are correct.

The University Grants Commission (UGC) announced new regulations on PhD (Doctor of Philosophy) degrees recently called "University Grants Commission (Minimum Standards and Procedures for Award of PhD Degree) Regulations, 2022". These rules will replace the rules notified in 2016.

• Under the new rules, UGC has made a series of significant modifications to the eligibility requirements, admissions process, and evaluation methodologies governing doctoral programmes in colleges and universities.

Highlights:

• Students who have completed a four-year undergraduate course will be eligible for direct admission to a doctorate programme.
  • Candidate should have a minimum of 75 per cent marks in “aggregate or its equivalent grade on a point scale wherever the grading system is followed”.
  • In case the candidate does not have 75 per cent marks in a four-year undergraduate program, she has to pursue a one-year master’s programme and score at least 55 per cent.
• The new Rules discontinue the M.Phil programme altogether. However, that will have no bearing on those holding or pursuing M.Phil degrees currently.
• Universities and colleges will be free to admit students through the NET (National Eligibility Test)/JRF (Junior Research Fellowship) qualification route as well as entrance exams at the level of the institutions.
• If an individual institution can holds its own entrance tests to admit students, then the candidates need not write the NET or similar exams. The “entrance test shall consist of 50 per cent research methodology and 50 per cent subject specific”.
• Where the selection is done by entrance tests conducted by individual universities, a weightage of 70 per cent will be given to performance in the written test, and 30 per cent to the interview.
• UGC has introduced a new requirement for PhD scholars, irrespective of discipline, to train in teaching / education/ pedagogy/ writing related to their chosen subject during their doctoral period. They may also be assigned four to six hours per week of teaching/ research assistantship for conducting tutorial or laboratory work and evaluations.
• It is no longer required to publish research articles in peer-reviewed publications or present in conferences.
• Working professionals can now enrol in part-time PhD programmes. The institute will require a “No Objection Certificate (NOC)” from the appropriate authority in the organisation where the candidate is employed. The NOC should clearly mention that she is permitted to pursue studies on a part-time basis.

Hence both statements are correct.