Daily Current Affairs MCQ: 25th May 2025 - UPSC MCQ

1. IN-SPACe - Statutory authority for regulating private space activities: Correctly matched. The Draft Space Activities Bill aims to provide statutory authority to IN-SPACe to enable it to regulate and authorize private sector participation in space activities.

2. Outer Space Treaty of 1967 - Not signed by India: Incorrectly matched. India is a signatory to the Outer Space Treaty of 1967, which establishes key international legal principles for outer space activities.

3. Tamil Nadu, Gujarat, Karnataka - States developing space policies to support manufacturing hubs: Correctly matched. These states are actively developing their own space policies to support the establishment of manufacturing hubs as part of India's broader space sector development.

4. Land ports with Bangladesh - Closed for all imports and exports: Incorrectly matched. The closure of land ports affects exports of apparel and certain goods through northeastern ports, but some imports such as fish, LPG, edible oil, and crushed stone from Bangladesh remain unaffected.

Thus, only pairs 1 and 3 are correctly matched.

1. Statement 1 is correct. The high surplus transfer from the RBI to the Central government in the fiscal year 2024-25 was indeed influenced by increased foreign exchange sales and liquidity management gains. These factors contributed significantly to the surplus beyond the government's budgeted estimates.

2. Statement 2 is correct. The RBI operates under the RBI Act of 1934, which clearly mandates that profits, after accounting for expenses and provisions, are to be transferred to the Central government. This is a statutory requirement that guides the financial operations of the RBI regarding surplus transfers.

3. Statement 3 is incorrect. The adoption of the Jalan Committee's recommendations has, in fact, helped ease some of the historical tensions between the RBI and the Ministry of Finance concerning surplus transfers. The committee's recommendations brought clarity and structure to the process of determining the quantum of surplus to be transferred, thus reducing friction.

Therefore, only statements 1 and 2 are correct, which aligns with Option B: 1 and 2 Only.

1. Right to Be Informed - Correctly matched. This right ensures that consumers receive accurate information about products, which helps prevent unfair trade practices and pressure selling.

2. Right to Choose - Incorrectly matched. The Right to Choose ensures access to a variety of goods and services at competitive prices, allowing consumers the freedom to select products based on their preferences. It is not specifically about protection from hazardous goods.

3. Right to Be Heard - Correctly matched. This right ensures that consumers' interests are considered in appropriate forums, allowing them to voice their complaints and concerns regarding goods and services.

4. Right to Seek Redressal - Incorrectly matched. The Right to Seek Redressal allows consumers to seek compensation for any damage or dissatisfaction that arises from the use of goods or services. The statement provided describes the Right to Consumer Education, which is about educating consumers to prevent exploitation.

Thus, pairs 1 and 3 are correctly matched.

The primary objective of the Space Activities Bill being formulated by India is to modernize the country's space governance and enable greater private sector engagement. This legislation aims to create a legal framework that facilitates private participation in the space sector and grants statutory authority to IN-SPACe (Indian National Space Promotion and Authorisation Centre). By empowering IN-SPACe with legal backing, the bill seeks to ensure effective regulation of private space companies, thereby fostering innovation, investment, and regulatory clarity in the sector. This step is crucial for India to position itself as a key player in the global space economy and fulfill its international responsibilities.

Green hydrogen is primarily produced by splitting water (H₂O) into hydrogen (H₂) and oxygen (O₂) through a process called electrolysis, powered by renewable energy sources like solar, wind, or hydropower. This method ensures that no greenhouse gases or harmful pollutants are emitted during the production process, making the hydrogen generated environmentally friendly and sustainable.

1. Statement 1 is correct. Green Hydrogen is indeed produced through electrolysis, a process that involves splitting water into hydrogen and oxygen using renewable energy sources like wind, solar, or hydropower. This process does not emit greenhouse gases, thereby making the hydrogen produced "green."

2. Statement 2 is incorrect. The National Green Hydrogen Mission of India has set a target of 5 million tonnes of annual production capacity by 2030, not 10 million tonnes as stated. Therefore, this statement is factually incorrect based on the provided information.

3. Statement 3 is incorrect. The production of green hydrogen in India is exempt from mandatory Environmental Clearance, which actually facilitates and expedites project approvals. Hence, the assertion that it requires mandatory clearance is incorrect.

Thus, only Statement 1 is correct, making Option A the correct answer.

The Supreme Court's recommendation for the establishment of permanent bodies for consumer dispute resolution primarily aims to reduce delays and inefficiency caused by temporary appointments. By having full-time presiding officers and staff, possibly headed by sitting judges, it ensures continuity, professionalism, and better justice delivery, addressing the current gaps in the Consumer Protection Act, 1986.

This question assesses the understanding of the need for stability and professionalism in consumer dispute resolution mechanisms to enhance the efficiency and effectiveness of the process.

Both statements are accurate based on the information provided in the text. Statement-I highlights that the RBI's surplus transfer was influenced by increased foreign exchange sales and liquidity management gains, which aligns with the details mentioned in the article. Statement-II correctly mentions that the RBI can adjust its Contingent Risk Buffer, allowing significant surplus transfers even if revenues decline. The ability to adjust the CRB is a key factor contributing to the substantial surplus transfers, as explained in the context. Therefore, both statements are correct, and Statement-II logically explains the impact of the CRB adjustment on surplus transfers.

- Statement 1 is correct. The Consumer Protection Act, 1986, indeed established Consumer Councils at different levels to address consumer grievances, aiming to protect consumer rights and facilitate dispute resolution.

- Statement 2 is correct. The Supreme Court of India has recommended that permanent consumer redressal bodies be established to manage the rising number of digital and cross-border consumer disputes, which are increasingly prevalent due to the growth of e-commerce and related sectors.

- Statement 3 is incorrect. Article 37 of the Indian Constitution states that the Directive Principles of State Policy (DPSP) are not legally enforceable. They are meant to guide the State in lawmaking and governance, providing a moral and constitutional foundation, but they do not have the force of law.

Therefore, only statements 1 and 2 are correct, making Option B the correct answer.

1. Seigniorage - Revenue from printing currency: Correct. Seigniorage refers to the profit made by a government by issuing currency, especially the difference between the face value of coins or notes and their production costs.

2. Contingent Risk Buffer (CRB) - A reserve to manage unexpected financial risks: Correct. The Contingent Risk Buffer is indeed a reserve maintained by the RBI to buffer against unforeseen financial risks.

3. Jalan Committee - Committee on Banking Sector Reforms: Incorrect. The Jalan Committee, chaired by Bimal Jalan, was actually set up to review the economic capital framework of the Reserve Bank of India, not for banking sector reforms.

4. NITI Aayog - Replaced the Planning Commission in 2015: Correct. NITI Aayog was established in 2015 to replace the Planning Commission and aims to promote cooperative federalism and evidence-based policy-making.

Thus, pairs 1, 2, and 4 are correctly matched, while pair 3 is not. This results in three correctly matched pairs. Hence, the correct answer is Option B: Only two pairs.