Daily Current Affairs MCQ- June 24, 2022 - UPSC MCQ

Prior to the BRICS Summit, PM Modi participated, by way of a recorded keynote speech, in the Opening Ceremony of the BRICS Business Forum.

• BRICS brings together 5 major emerging economies - Brazil, Russia, India, China and South Africa.
• BRICS as a platform comprises 41% of the world population, has 24% of the world GDP and over 16% share in the world trade.

Hence only statement 2 is correct.

Union Food and Public Distribution Secretary said that the Centre had started the second phase of distribution of fortified rice from April 1, 2022. A total of 90 districts have been covered, and the Centre is targeting 291 districts.

• The pet scheme of Prime Minister Narendra Modi, started in October 2021, aims to supply fortified rice to beneficiaries of the Integrated Child Development Services (ICDS) and the Pradhan Mantri Poshan Shakti Nirman, or PM-POSHAN, scheme.
• fortification means “deliberately increasing the content of essential micronutrients in a food so as to improve the nutritional quality of food and to provide public health benefit with minimal risk to health”.
• Various technologies are available to add micronutrients to regular rice, such as coating, dusting, and ‘extrusion’. ‘Extrusion’ involves the production of fortified rice kernels (FRKs) from a mixture using an ‘extruder’ machine. The fortified rice kernels are blended with regular rice to produce fortified rice.
• Fortification of food is considered to be one of the most suitable methods to combat malnutrition.

Hence only statement 2 is correct.

Oil marketing companies (OMCs) hiked Aviation Turbine Fuel (ATF) prices by 16.3% on June 16, taking jet fuel prices to a record high of Rs 1.41 lakh per kilolitre in Delhi.

• The record increase in ATF prices, combined with the depreciating rupee, is set to increase the cost of operations for airlines, which could lead to an increase in air fares by up to 15%.
• The cost of ATF constitutes up to 50% of the cost of operations for airlines in India that are already struggling due to the high cost environment and lower fares in the country.
• The airline industry had sought respite from high fuel prices through a cut in excise duty on ATF or by bringing jet fuel under GST, that would have brought down prices and also allowed airlines to claim input credit tax on the GST paid.
• While bringing ATF under GST seems unlikely for now, the Aviation Ministry had requested the Finance Ministry to reduce excise duty on jet fuel by 2 percentage points to 9 per cent. The Finance Ministry, however, did not cut any taxes on ATF.
• Jet fuel or aviation turbine fuel (ATF, also abbreviated avtur) is a type of aviation fuel designed for use in aircraft powered by gas-turbine engines. It is colorless to straw-colored in appearance.

Hence, option (a) is the correct answer.

In June 2022, Tamil Nadu Chief Minister M K Stalin wrote to Prime Minister Narendra Modi, asking that at least three meetings of the Inter-State Council should be held every year to “strengthen the spirit of cooperative federalism”.

• Inter-State Council is a mechanism that was constituted “to support Centre-State and Inter-State coordination and cooperation in India”. The Council is basically meant to serve as a forum for discussions among various governments.
• The Inter-State Council was established under Article 263 of the Constitution, which states that the President may constitute such a body if a need is felt for it.
• In 1988, the Sarkaria Commission suggested the Council should exist as a permanent body, and in 1990 it came into existence through a Presidential Order.
• The main functions of the Council are inquiring into and advising on disputes between states, investigating and discussing subjects in which two states or states and the Union have a common interest, and making recommendations for the better coordination of policy and action.
• The Prime Minister is the chairman of the Council, whose members include the Chief Ministers of all states and UTs with legislative assemblies, and Administrators of other UTs.
• Six Ministers of Cabinet rank in the Centre’s Council of Ministers, nominated by the Prime Minister, are also its members.
• Since its constitution in 1990, the body has met only 11 times, although its procedure states it should meet at least three times every year. That there has been no meeting since July 2016.

Reconstitution

• The Council was reconstituted in May 2022. The body will now have 10 Union Ministers as permanent invitees, and the standing committee of the Council has been reconstituted with Home Minister Amit Shah as Chairman.

Hence both statements are not correct.

• Recently it was announced that India will be taking over West Seti Hydropower Project nearly four years after China withdrew from it, ending a six-year engagement between 2012 and 2018.
  • The Project is a proposed 750-megawatt Hydropower Project.
  • It is to be built on the Seti River in far-western Nepal, which has remained on the drawing board for the last six decades. Hence, statement 1 is not correct.
• The dam site is located 82 kilometers (km) upstream of the confluence of the Seti and Karnali rivers, forming part of the Ganges basin. Hence, statement 2 is correct.
• This storage or reservoir will fill up during the monsoon season and the water will be drawn to generate power during peak hours each day in the dry season.

• The Amrit Sarovar Mission was launched on 24th April 2022 with a view to conserve water for the future.
  • The Mission is aimed at developing and rejuvenating 75 water bodies in each district of the country. Hence statement 1 is not correct.
  • In total, it would lead to the creation of 50,000 water bodies of a size of about an Acre or more.
• The Mission encourages mobilization of citizen and non-govt resources for supplementing these efforts as a part of celebration of Azadi ka Amrit Mahotsav. Hence statement 2 is correct.
• Bhaskaracharya National Institute for Space Application and Geo-informatics (BISAG-N) has been engaged as technical partner for the Mission. Hence statement 3 is not correct.
• Mission Amrit Sarovar is to be completed by 15th August 2023. Around 50,000 Amrit Sarovar may be constructed in the country.
  • Each of these Amrit Sarovar will have approx. area of 1 acre with a water holding capacity of 10,000 cubic meters.
  • On every 15th August, National Flag hoisting will be organized on every Amrit Sarovar site.

Surety Bond:

• It can be defined in its simplest form as a written agreement to guarantee compliance, payment, or performance of an act.
• It is a unique type of insurance because it involves a three-party agreement. Hence, statement 1 is correct.
  • The three parties in a surety agreement are:
    • Principal – the party that purchases the bond and undertakes an obligation to perform an act as promised.
    • Surety – the insurance company or surety company that guarantees the obligation will be performed. If the principal fails to perform the act as promised, the surety is contractually liable for losses sustained.
    • Obligee - the party who requires, and often receives the benefit of— the surety bond. For most surety bonds, the obligee is a local, state or federal government organization.
• Surety bond is provided by the insurance company on behalf of the contractor to the entity which is awarding the project. Hence, statement 2 is correct.
• These bonds are mainly aimed at infrastructure development, mainly to reduce indirect costs for suppliers and work-contractors thereby diversifying their options and acting as a substitute for a bank guarantee. Hence, statement 3 is correct.

International Solar Alliance:

• The ISA is an intergovernmental treaty-based organisation with a global mandate to catalyse solar growth by helping to reduce the cost of financing and technology. Hence, statement 1 is correct.
  • The headquarters is in Gurugram, India. Hence, statement 2 is not correct.
• It was co-founded by India and France during the 2015 climate change conference in Paris has assumed centre-stage for India’ attempts at a global climate leadership role.
  • As of 2022, ISA includes 101 members, after being joined by the US.
• ISA is the nodal agency for implementing One Sun One World One Grid (OSOWOG), which seeks to transfer solar power generated in one region to feed the electricity demands of others.
• In 2021, the United Nations General Assembly (UNGA) has granted Observer Status to the ISA. Hence, statement 3 is correct.

• Bioplastic refers to plastic made from plants like maize, wheat or sugarcane or other biological material instead of petroleum. Hence, statement 1 is correct.
• Bioplastics are biodegradable and compostable plastic materials.
• Plants get carbon dioxide from the air through their leaves; producing bioplastics from plants, therefore, consumes carbon dioxide, which compensates for the amount that is later released when bioplastic is decomposed.
  • Overall, the net greenhouse gas balance of bioplastics is assumed to be zero. Hence, statement 2 is correct.

United Nation Security Council:

• The UNs Charter established six main organs of the UN, including the UNSC. Article 23 of the UN Charter concerns the composition of the UNSC. Hence statement 1 is correct.
  • The other 5 organs of the UN are—the General Assembly, the Trusteeship Council, the Economic and Social Council, the International Court of Justice, and the Secretariat.
  • The UNSC has been given primary responsibility for maintaining international peace and security and may meet whenever peace is threatened.
• The UNSC is composed of 15 members, 5 permanent and 10 non-permanent.
  • Five Permanent Members: China, France, the Russian Federation, the United Kingdom, and the United States. Hence statement 2 is correct.
  • India, for the eighth time, has entered the UNSC as a non-permanent member last year (2021) and will stay on the council for two years i.e 2021-22.
  • Each year, the General Assembly elects five non-permanent members (out of ten in total) for a two-year term.
• UNSC has power to authorise:
  • the admission of new UN members to the General Assembly,
  • approving any changes to the UN Charter,
  • establishing peacekeeping operations,
  • enacting international sanctions, and authorizing military action.
• The UNSC is the only UN body with the authority to issue binding resolutions on member states. Hence statement 3 is correct.