Daily Current Affairs MCQ- June 8, 2024 - UPSC MCQ

NHAI has invited expressions of interest (EoIs) from around the world for the implementation of GNSS-based (satellite-based) electronic toll collection to provide a seamless and barrier-free tolling experience for National Highways users.

About GNSS-based Electronic Toll Collection (ETC) system

• The GNSS-based Electronic Toll Collection (ETC) system is a barrier-free method of electronic toll collection that uses Global Navigation Satellite System (GNSS) technology to track vehicles and calculate tolls based on the distance travelled on tolled highways.
• Working: The system uses satellites or constellations of satellites to track vehicles' movements and calculate tolls based on the distance travelled on tolled highways.
• Vehicles equipped with GNSS-enabled On Board Units (OBUs) are charged on the distance they have travelled on tolled highway stretches.
• NHAI plans to implement the GNSS-based electronic toll collection (ETC) system within the existing FASTag ecosystem, initially using a hybrid model where both RFID-based ETC and GNSS-based ETC will operate simultaneously.

Significance

• Facilitates smooth vehicle movement on National Highways.
• Provides barrier-less, free-flow tolling for a hassle-free experience.
• Implements distance-based tolling, charging users only for the distance travelled.
• Enhances toll collection efficiency by reducing leakages and curbing toll evasion.

Hence only statement 1 is correct.

The European Commission (EC) has removed Tanzania from the list of countries eligible for its 18 million Euro conservation grant to be launched in East Africa as part of its NaturAfrica initiative.

About NaturAfrica initiative

• The NaturAfrica initiative is a European Union (EU) program aimed at supporting biodiversity conservation in Africa through a people-centred approach.
• It identifies key landscapes for conservation and development, focusing on creating jobs, improving security, and sustainable livelihoods while preserving ecosystems and wildlife.
• The initiative is structured around two pillars: short-term actions in key landscapes and medium-term support to address the root causes of biodiversity loss and environmental degradation by integrating these concerns into other sectors.

About European Commission

• The European Commission is the executive body of the European Union (EU), responsible for proposing new laws and policies, monitoring their implementation, managing the EU budget, and ensuring the correct application of EU policies and laws across member states.
• It is composed of 27 members, known as Commissioners, each representing a different member state.
• The Commission is led by the President, who is elected by the European Parliament and proposed by the European Council.

Hence option c is the correct answer.

India is looking to operate the Mongla Port in Bangladesh and build a new terminal, aiming to counterbalance China's strategic presence in the region.

About Mongla Port

• The Port of Mongla is located in the Bagerhat District of Bangladesh. It lies 62 km north of the Bay of Bengal coastline.
• It is situated at the confluence of the Pasur River and the Mongla River.
• The Port is surrounded and protected by the Sundarban mangrove forest.
• Mongla is the second largest seaport in Bangladesh after Chittagong.

Significance for India:

• Provides strategic access to India's northeastern states (e.g., Assam, Tripura, Meghalaya).
• Reduces distance and transportation costs for goods to and from these regions.
• India Ports Global Limited (IPGL) has expressed interest in operating Mongla Port, which would be its third international port operation after Chabahar in Iran and Sittwe in Myanmar.
• Expansion project: India and Bangladesh signed a MoU on the use of Chattogram and Mongla ports in 2015.
  • The MoU envisages the transit of goods from Mongla port to the northeastern states of India through waterways, roads and railways.

Hence option a is the correct answer.

Sticky inflation has dashed the hopes of early rates cuts with experts now pencilling in repo rate cut by the RBI from December this year. Economists expect a shallow rate cut cycle with RBI likely to lower the repo rate by 75 – 100 basis points.

About Sticky Inflation

• Sticky inflation refers to a phenomenon where prices do not adjust quickly to changes in supply and demand, leading to persistent inflation.

Features of sticky inflation:

• Prices for goods or services that don't appear to be coming down anytime soon are considered sticky.
• Causes: Rising wages and prices for consumer goods and services are typically the main factors behind inflation stickiness.
  • Prices for medical services, education, and housing are some of the most important factors that can contribute to sticky inflation.
• It erodes the purchasing power of consumers and puts pressure on housing affordability.
• Sticky inflation presents challenges for central banks in controlling inflation without causing a recession.
• To address sticky inflation, central banks usually raise interest rates.
  • However, raising rates too fast can cause the economy to fall into a recession, while not raising them enough will allow prices to continue increasing.

Hence option b is the correct answer.

The 900 MW Arun III Hydropower Project in eastern Nepal, constructed with Indian assistance, recently achieved a significant milestone with a tunnel breakthrough.

About Arun-III Hydro Power Project:

• It is a 900 MW run-of-the-river hydropower project being constructed on the Arun River in Sankhuwasabha District of Eastern Nepal.
• Arun is a tributary of the Koshi River in Nepal. 
• The project comprises a 70-meter-tall and 466-meter-long concrete gravity dam and a Head Race Tunnel (HRT) of 11.74 km with underground an power house containing four generating units of 225 MW each on left bank.
• It is being developed with Indian assistance at a cost of Rs. 144 billion.
• Once completed, it will be the biggest hydroelectric facility in Nepal.
• It is being developed on a build-own-operate-and-transfer (BOOT) basis by Satluj Jal Vidyut Nigam (SJVN) Arun-III Power Development Company (SAPDC), a joint venture of the Government of India and the Government of Himachal Pradesh.
• SAPDC will operate the facility for a period of 25 years, excluding the construction period of five years, before transferring ownership to the Nepal government.
• Nepal will receive 21.9% of the electricity generated at the power plant as free power during these initial 25 years of commercial operations.
• The output from the power plant will be transferred to Muzaffarpur in India through a 317 km-long 400 kV double circuit transmission line.  

Hence only statement 1 is correct.

An Associated Press analysis found the number of publicly-traded “zombie” companies has soared to nearly 7,000 around the world, including 2,000 in the United States.

About Zombie Company:

• A zombie company is a corporate entity with very limited cash flows, only sufficient to pay the interest on the debt borrowed but not the principal amount of the loan.
• The revenue generated by the business operations only covers the fixed routine and operating costs (wages, rent, interest payments on debt, for example).
• These companies, often referred to as the "living dead" or "zombie stocks," have no excess capital to invest in growth, innovation, or significant improvements.
• They are highly dependent on banks for financing.
• They are typically subject to higher borrowing costs and may be one just event—market disruption or a poor quarter performance—away from insolvency or a bailout. 
• They are “uncompetitive survivors” and contribute to lower productivity in the global economy.
• These companies can pose a risk to the broader economy by tying up resources that could be more effectively used by healthier, more innovative firms.

Hence option d is the correct answer.

The 51st edition of World Environment Day was a record-breaking success, with an unprecedented 3,854 official events and tens of millions of online engagements across the globe.

About World Environment Day:

• It is celebrated annually on June 5 to promote more sustainable practices while advocating for the protection of our planet. 
• Led by the United Nations Environment Programme (UNEP), it is the largest global platform for public outreach to raise awareness and take action on urgent environmental issues – the planet’s most-pressing environmental problems.
• Theme of World Environment Day 2024: Land restoration, desertification, and drought resilience.
• History:
• The United Nations General Assembly declared June 5 as World Environment Day during the Stockholm Conference on the Human Environment, held in Stockholm, Sweden, in 1972 (June 5-16).
• It was the first world conference to make environmental protection a major issue.
• The UNEP was established in the same year.
• World Environment Day was celebrated for the first time in 1973 under the theme 'Only One Earth'.
• Since then, it has grown into a global platform involving over 150 countries.

Hence option c is the correct answer.

The 22nd Law Commission of India led by Justice Ritu Raj Awasthi has recommended that the offence of criminal defamation should be retained in the new criminal laws.

• It is a non-statutory body and is constituted by a notification of the Government of India, Ministry of Law & Justice.
• It is constituted with a definite terms of reference to carry out research in the field of law and the Commission makes recommendations to the Government (in the form of Reports) as per its terms of reference.
• It functions to the Ministry of Law and Justice as an advisory body.
• History of Law Commission of India
• The first pre-independence law commission was established in 1834 by the British Government in India.
• It was established by the Charter Act of 1833 and was chaired by Lord Macaulay.
• The first Law Commission of independent India was established in 1955 under the chairmanship of the former Attorney General for India M. C. Setalvad.
• This Commission was created for a period of three years and this practice has persisted ever since then, resulting in the reconstitution of Law Commissions every three years via executive orders.
• The executive orders that constitute the Law Commissions also specify their scope and purpose, and thus these fluctuate periodically.
• Since then, twenty one more Law Commissions have been constituted, each with a three-year term and with certain terms of reference.
• The Law Commission has taken up various subjects on references made by Department of Legal Affairs, Supreme Court and High Courts.
• The Twenty Second Law Commission has been notified with effect from 21st February, 2020 for a term of 3 years.

Hence both statements are correct.

The Indian Air Force will be conducting Exercise Vayu Shakti-24 on 17 February 2024 at the Pokhran Air to Ground Range, near Jaisalmer.

• The Indian Air Force is slated to carry out three large scale war games on February 17, namely, Vayu Shakti, Gagan Shakti and Tarang Shakti.
• It will be a riveting demonstration of the offensive and defensive capabilities of the IAF, spanning across day and night.
• The exercise will also showcase joint operations with the Indian Army.
• Exercise Vayu Shakti
• The IAF will first undertake the major "Vayu Shakti" firepower demonstration, which is held once every three years, with 135 fighters, aircraft, helicopters and drones at the Pokhran field firing ranges.
• Gagan Shakti’
• The second mega exercise will be ‘Gagan Shakti’.
• In this, almost the entire air fleet race would be activated from north to south, and from west to east to test integrated war fighting strategies and tactics with the other two forces and other stakeholders.
• All the potent weapon systems like the Rafale fighter aircraft and the S-400 air defense systems would be participating in the ‘Gagan Shakti’ exercise.
• The exercise, which is held once in five years, is also going to be the biggest ever of the series with active participation from other two services.
• Tarang Shakti
• The third major exercise, Tarang Shakti, would be the first ever multinational exercise to be held in the country.
• This will see aircraft from friendly air forces like the US, Germany, France, Australia and neighbouring and other friendly countries taking part in it.

Hence both statements are correct.

Recently, the union Minister of Coal, Mines and Parliamentary Affairs launched a web portal of Coal Mines Provident Fund Organization (CMPFO) namely C- CARES.

• It is developed and designed by the Centre for Development of Advanced Computing (C-DAC).
• The portal, will allow CMPF subscribers and coal companies to login and perform various functions tailored to their needs.
• While the subscribers can access and view their individual details and subscription status, the coal management can submit contribution details, subscribers’ particulars and claims for online settlement and payment through the portal.
• It will also ensure paperless working, timely and accurate settlement of claims, reduction in processing time and grievance redressal.
• The portal being a public service platform is intended to benefit the CMPF subscribers who are working in the coal sector as well as its pensioners.

Hence only statement 1 is correct.