Daily Current Affairs MCQ: 9th March 2025 - UPSC MCQ

The primary objective of the New Income Tax Bill introduced in the Lok Sabha is to modernize India's tax framework, which has remained largely unchanged for over sixty years. This bill aims to include provisions for the taxation of digital assets, enhance tax investigation powers in virtual spaces, and address tax evasion occurring in digital formats. By updating the tax system to reflect the increasing digitization of financial transactions, the bill aims to improve transparency and compliance while also raising concerns about privacy and individual/business tax burdens.

Statement-I correctly summarizes the key provisions of the New Income Tax Bill, highlighting its objectives related to modernizing India's tax system by incorporating digital assets and empowering tax authorities for better investigation in virtual spaces. This aligns with the information provided in the text regarding the provisions of the bill and the focus on digital assets.

Statement-II accurately describes the Dehing Patkai National Park, its location in Assam, and its significance in biodiversity conservation, including the recent sighting of the Clouded Leopard. This information is in line with the details presented in the text about the park's location, area, biodiversity, and recent wildlife sightings.

Therefore, both Statement-I and Statement-II are correct, and Statement-II explains Statement-I by providing additional context and specific details related to the respective topics.

The recent sighting of the bar-headed goose in Arunachal Pradesh is significant due to its unique migratory behavior and high-flying abilities. These birds are native to central Asia and undertake winter migrations to South Asia, making this sighting in Arunachal Pradesh noteworthy. Bar-headed geese are known for their capability to reach altitudes of up to 25,000 feet, allowing them to navigate challenging terrains during their migrations.

Statement 1: Correct. The New Income Tax Bill indeed grants tax authorities the power to override access codes, allowing them to access virtual spaces such as social media and email accounts for investigative purposes. This is part of the bill's effort to combat tax evasion in the digital realm.

Statement 2: Correct. The bill recognizes digital documents and encrypted financial records as taxable assets, which reflects the modernization of tax regulations in response to the increasing digitization of assets and transactions.

Statement 3: Incorrect. There is no provision in the New Income Tax Bill that mandates all digital transactions must be conducted through government-approved platforms. The bill focuses on enhancing investigative powers and recognizing digital assets as taxable, but it does not impose such a requirement on digital transactions.

Thus, the correct answer is Option B, as statements 1 and 2 are correct while statement 3 is not.

1. Taxation of digital assets - New Income Tax Bill: Correctly matched. The New Income Tax Bill includes provisions for the taxation of digital assets, which is a significant step towards modernizing the tax framework to include digital environments and transactions.

2. AI Kosha - IndiaAI Mission: Correctly matched. AI Kosha is a national dataset platform launched under the IndiaAI Mission to develop AI models by collecting non-personal data, with a focus on enhancing India's AI ecosystem.

3. Dehing Patkai National Park - IndiaAI Mission: Incorrectly matched. Dehing Patkai National Park is not related to the IndiaAI Mission. Instead, it is an area of environmental significance due to its rich biodiversity and recent camera trap observations of rare species like the Clouded Leopard.

4. Power to Override Access Codes - New Income Tax Bill: Correctly matched. The New Income Tax Bill empowers tax authorities to bypass access codes during investigations into digital spaces, enhancing their ability to combat tax evasion in virtual environments.

Pairs 1, 2, and 4 are correctly matched, while pair 3 is not.

The primary mode of transmission of Hantavirus Pulmonary Syndrome (HPS) is through the inhalation of particles from rodents, such as rats and mice. This occurs when individuals come into contact with urine, droppings, or saliva from infected rodents. It is crucial to be aware of this mode of transmission to take necessary precautions, especially in environments where rodents may be present.

Statement-I is incorrect because bar-headed geese are native to central Asia and migrate to South Asia during the winter months, as mentioned in the provided text. On the other hand, Statement-II is correct as the Sharavathi Pumped Storage Hydroelectric Project is set to be the largest pumped storage power generation unit in India with a capacity of 2000 MW,. This project is located on the Sharavathi River in Karnataka, as detailed in the text.

- Statement 1: This statement is incorrect. Hantavirus Pulmonary Syndrome is not typically transmitted through person-to-person contact. It is primarily spread by rodents, such as rats and mice, through inhalation of particles from their urine, droppings, or saliva. Person-to-person transmission is extremely rare and not a recognized mode of transmission for HPS.

- Statement 2: This statement is correct. The initial symptoms of Hantavirus Pulmonary Syndrome do include fatigue, fever, and muscle aches. These are followed by more severe symptoms, which can include respiratory distress.

- Statement 3: This statement is incorrect. There is no specific antiviral treatment available for hantavirus infections. Treatment is mainly supportive, focusing on managing symptoms and complications as they arise. Early medical attention can be crucial for those who develop severe forms of the disease.

Therefore, only statement 2 is correct.

1. Bar-Headed Goose - Anser indicus

This pair is correctly matched. The scientific name for the bar-headed goose is indeed Anser indicus. It is known for its high-altitude migratory pattern and is native to central Asia.

2. Sharavathi River - Located in Tamil Nadu

This pair is incorrectly matched. The Sharavathi River is located in the state of Karnataka, not Tamil Nadu. It flows through the Western Ghats and is known for forming the famous Jog Falls.

3. Talakalale Dam - Upper reservoir in Sharavathi PSHP

This pair is correctly matched. Talakalale Dam serves as the upper reservoir in the Sharavathi Pumped Storage Hydroelectric Project.

4. Jog Falls - Formed by the Sharavathi River

This pair is correctly matched. Jog Falls is indeed formed by the Sharavathi River and is one of the highest waterfalls in India.

Pairs 1, 3, and 4 are correctly matched, while pair 2 is incorrectly matched.

1. Statement 1 is correct. India is indeed the world's third-largest oil importer and aims to position the U.S. as a primary supplier of crude oil, petroleum products, and LNG. This aligns with India's goal of diversifying its energy import sources to enhance energy security.

2. Statement 2 is incorrect. While India is working to diversify its energy sources and reduce dependency on any single region, there is no specific strategy mentioned regarding reducing dependency on Middle Eastern oil by 50% over the next five years. The focus is more broadly on diversifying energy sources and strengthening ties with the U.S.

3. Statement 3 is correct. There is an effort underway to double U.S.-India bilateral trade to $500 billion over the next five years. This reflects a strategic economic objective between the two countries to enhance trade relations across various sectors, including energy.

Thus, the correct answer is Option B: 1 and 3 Only.